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HOME FEDERAL-GRAND ISLAND 401(K) RETIREMENT PLAN 401k Plan overview

Plan NameHOME FEDERAL-GRAND ISLAND 401(K) RETIREMENT PLAN
Plan identification number 002

HOME FEDERAL-GRAND ISLAND 401(K) RETIREMENT PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

HOME FEDERAL SAVINGS & LOAN ASSOC OF GI has sponsored the creation of one or more 401k plans.

Company Name:HOME FEDERAL SAVINGS & LOAN ASSOC OF GI
Employer identification number (EIN):470465799
NAIC Classification:522120
NAIC Description:Savings Institutions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan HOME FEDERAL-GRAND ISLAND 401(K) RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01
0022022-01-01TAMMY ERICKSON2023-03-11 TAMMY ERICKSON2023-03-11
0022021-01-01TAMMY ERICKSON2022-09-30 TAMMY ERICKSON2022-09-30
0022020-01-01TAMMY ERICKSON2021-08-10 TAMMY ERICKSON2021-08-10
0022019-01-01TAMMY ERICKSON2020-04-09
0022018-01-01TAMMY ERICKSON2019-05-01 TAMMY ERICKSON2019-05-01
0022017-01-01TAMMY ERICKSON2018-06-18 TAMMY ERICKSON2018-06-18
0022016-01-01STEVE KUNZMAN2017-05-01 STEVE KUNZMAN2017-05-01
0022015-01-01DALE GILBERT2016-04-12 DALE GILBERT2016-04-12
0022014-01-01DALE GILBERT2015-06-29 DALE GILBERT2015-06-29
0022013-01-01DALE GILBERT2014-06-19 DALE GILBERT2014-06-19
0022012-01-01DALE GILBERT2013-06-18 DALE GILBERT2013-06-18
0022011-01-01BARRY SANDSTROM2012-06-25 BARRY SANDSTROM2012-06-25
0022010-01-01DALE GILBERT2011-07-19 DALE GILBERT2011-07-19

Plan Statistics for HOME FEDERAL-GRAND ISLAND 401(K) RETIREMENT PLAN

401k plan membership statisitcs for HOME FEDERAL-GRAND ISLAND 401(K) RETIREMENT PLAN

Measure Date Value
2023: HOME FEDERAL-GRAND ISLAND 401(K) RETIREMENT PLAN 2023 401k membership
Total participants, beginning-of-year2023-01-0187
Total number of active participants reported on line 7a of the Form 55002023-01-0164
Number of retired or separated participants receiving benefits2023-01-010
Number of other retired or separated participants entitled to future benefits2023-01-0120
Total of all active and inactive participants2023-01-0184
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2023-01-010
Total participants2023-01-0184
Number of participants with account balances2023-01-0182
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2023-01-019

Financial Data on HOME FEDERAL-GRAND ISLAND 401(K) RETIREMENT PLAN

Measure Date Value
2023 : HOME FEDERAL-GRAND ISLAND 401(K) RETIREMENT PLAN 2023 401k financial data
Transfers to/from the plan2023-12-31$0
Total plan liabilities at end of year2023-12-31$0
Total plan liabilities at beginning of year2023-12-31$0
Total income from all sources2023-12-31$1,539,310
Expenses. Total of all expenses incurred2023-12-31$650,956
Benefits paid (including direct rollovers)2023-12-31$649,579
Total plan assets at end of year2023-12-31$6,803,014
Total plan assets at beginning of year2023-12-31$5,914,660
Value of fidelity bond covering the plan2023-12-31$3,000,000
Total contributions received or receivable from participants2023-12-31$339,252
Expenses. Other expenses not covered elsewhere2023-12-31$0
Contributions received from other sources (not participants or employers)2023-12-31$8,977
Other income received2023-12-31$1,093,533
Noncash contributions received2023-12-31$0
Net income (gross income less expenses)2023-12-31$888,354
Net plan assets at end of year (total assets less liabilities)2023-12-31$6,803,014
Net plan assets at beginning of year (total assets less liabilities)2023-12-31$5,914,660
Value of loans by the plan or fixed income obligations due to the plan which were in default or classified as uncollectible at the close of the plan year2023-12-31$0
Value of leases to which the plan was a party in default or classified as uncollectible during the plan year2023-12-31$0
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022023-12-31$0
Assets. Value of employer securities2023-12-31$757,425
Total contributions received or receivable from employer(s)2023-12-31$97,548
Value of certain deemed distributions of participant loans2023-12-31$0
Value of corrective distributions2023-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2023-12-31$1,377

Form 5500 Responses for HOME FEDERAL-GRAND ISLAND 401(K) RETIREMENT PLAN

2023: HOME FEDERAL-GRAND ISLAND 401(K) RETIREMENT PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01This submission is the final filingNo
2023-01-01This return/report is a short plan year return/report (less than 12 months)No
2023-01-01Plan is a collectively bargained planNo
2023-01-01Plan funding arrangement – InsuranceYes
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement – InsuranceYes
2023-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number446351
Policy instance 1
Insurance contract or identification number446351
Number of Individuals Covered84
Insurance policy start date2023-01-01
Insurance policy end date2023-12-31
Total amount of commissions paid to insurance brokerUSD $10,550
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No

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