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PROGRESSIVE AUTO SALES 401(K) PLAN 401k Plan overview

Plan NamePROGRESSIVE AUTO SALES 401(K) PLAN
Plan identification number 001

PROGRESSIVE AUTO SALES 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • 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.
  • 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.

401k Sponsoring company profile

PROGRESSIVE AUTO SALES has sponsored the creation of one or more 401k plans.

Company Name:PROGRESSIVE AUTO SALES
Employer identification number (EIN):472838296
NAIC Classification:441120
NAIC Description:Used Car Dealers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PROGRESSIVE AUTO SALES 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012024-01-01
0012023-01-01
0012022-01-01
0012021-01-01
0012020-01-01
0012019-01-01JASON LAMBRINIDES2020-10-08 JASON LAMBRINIDES2020-10-08

Plan Statistics for PROGRESSIVE AUTO SALES 401(K) PLAN

401k plan membership statisitcs for PROGRESSIVE AUTO SALES 401(K) PLAN

Measure Date Value
2024: PROGRESSIVE AUTO SALES 401(K) PLAN 2024 401k membership
Total number of particpants at beginning of year2024-12-038
Total number of particpants at end of year2024-12-030
Number of Participants With Account Balances2024-12-030
Total number of particpants at beginning of year2024-06-148
Total number of particpants at end of year2024-06-148
Number of Participants With Account Balances2024-06-147
2022: PROGRESSIVE AUTO SALES 401(K) PLAN 2022 401k membership
Total number of particpants at beginning of year2022-05-237
Total number of particpants at end of year2022-05-238
Number of Participants With Account Balances2022-05-237

Financial Data on PROGRESSIVE AUTO SALES 401(K) PLAN

Measure Date Value
2024 : PROGRESSIVE AUTO SALES 401(K) PLAN 2024 401k financial data
Total expenses incurred by plan in this plan year2024-12-03602108
Net assets as of the end of the plan year2024-12-030
Total assets as of the beginning of the plan year2024-12-03577094
Value of plan covered by a fidelity bond2024-12-0350000
Other income to plan in this plan year2024-12-0325014
Plan net income in this plan year2024-12-03-577094
Net assets as of the end of the plan year2024-12-030
Net assets as of the beginning of the plan year2024-12-03577094
Expensese paid to adminstrative service provicers from plan in this plan year2024-12-031225
Total expenses incurred by plan in this plan year2024-06-14480
Net assets as of the end of the plan year2024-06-14577094
Total assets as of the beginning of the plan year2024-06-14422887
Value of plan covered by a fidelity bond2024-06-1450000
Participant contributions to plan in this plan year2024-06-1465118
Other income to plan in this plan year2024-06-1487344
Plan net income in this plan year2024-06-14154207
Net assets as of the end of the plan year2024-06-14577094
Net assets as of the beginning of the plan year2024-06-14422887
Employer contributions to plan in this plan year2024-06-142225
Expensese paid to adminstrative service provicers from plan in this plan year2024-06-14480
2022 : PROGRESSIVE AUTO SALES 401(K) PLAN 2022 401k financial data
Total expenses incurred by plan in this plan year2022-05-23783
Net assets as of the end of the plan year2022-05-23347495
Total assets as of the beginning of the plan year2022-05-23198535
Value of plan covered by a fidelity bond2022-05-23250000
Participant contributions to plan in this plan year2022-05-2384971
Other income to plan in this plan year2022-05-2336344
Plan net income in this plan year2022-05-23148960
Net assets as of the end of the plan year2022-05-23347495
Net assets as of the beginning of the plan year2022-05-23198535
Employer contributions to plan in this plan year2022-05-2328428
Expensese paid to adminstrative service provicers from plan in this plan year2022-05-23783

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