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THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 401k Plan overview

Plan NameTHE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN
Plan identification number 001

THE UNION STATE BANK 401(K) AND PROFIT SHARING 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.

401k Sponsoring company profile

UNION STATE BANK has sponsored the creation of one or more 401k plans.

Company Name:UNION STATE BANK
Employer identification number (EIN):480456400
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012021-01-01
0012020-01-01
0012019-01-01
0012018-01-01JANET OLSON
0012017-01-01JANET OLSON
0012016-01-01JANET OLSON
0012015-01-01JANET OLSON2016-07-08 JANET OLSON2016-07-08
0012014-01-01JANET N OLSON2015-04-10 JANET N OLSON2015-04-10
0012013-01-01JANET N OLSON2014-07-09 JANET N OLSON2014-07-09
0012012-01-01JANET OLSON2013-07-18 JANET OLSON2013-07-18
0012011-01-01JANET OLSON2012-07-18
0012010-01-01JANET OLSON2011-10-13

Plan Statistics for THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN

401k plan membership statisitcs for THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN

Measure Date Value
2022: THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-0184
Total number of active participants reported on line 7a of the Form 55002022-01-0176
Number of retired or separated participants receiving benefits2022-01-011
Number of other retired or separated participants entitled to future benefits2022-01-0115
Total of all active and inactive participants2022-01-0192
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-0192
Number of participants with account balances2022-01-0191
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-0183
Total number of active participants reported on line 7a of the Form 55002021-01-0173
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-0111
Total of all active and inactive participants2021-01-0184
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-0184
Number of participants with account balances2021-01-0181
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010
2020: THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-0182
Total number of active participants reported on line 7a of the Form 55002020-01-0176
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-017
Total of all active and inactive participants2020-01-0183
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-0183
Number of participants with account balances2020-01-0179
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-0186
Total number of active participants reported on line 7a of the Form 55002019-01-0174
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-018
Total of all active and inactive participants2019-01-0182
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-0182
Number of participants with account balances2019-01-0180
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-0196
Total number of active participants reported on line 7a of the Form 55002018-01-0180
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-016
Total of all active and inactive participants2018-01-0186
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-0186
Number of participants with account balances2018-01-0179
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010
2017: THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-0176
Total number of active participants reported on line 7a of the Form 55002017-01-0186
Number of retired or separated participants receiving benefits2017-01-010
Number of other retired or separated participants entitled to future benefits2017-01-0110
Total of all active and inactive participants2017-01-0196
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-0196
Number of participants with account balances2017-01-0180
2016: THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2016 401k membership
Total participants, beginning-of-year2016-01-0186
Total number of active participants reported on line 7a of the Form 55002016-01-0167
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-019
Total of all active and inactive participants2016-01-0176
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-0176
Number of participants with account balances2016-01-0173
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-010

Financial Data on THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN

Measure Date Value
2022 : THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2022 401k financial data
Transfers to/from the plan2022-12-31$0
Total plan liabilities at end of year2022-12-31$0
Total plan liabilities at beginning of year2022-12-31$0
Total income from all sources2022-12-31$-718,664
Expenses. Total of all expenses incurred2022-12-31$1,254,677
Benefits paid (including direct rollovers)2022-12-31$1,246,403
Total plan assets at end of year2022-12-31$6,705,079
Total plan assets at beginning of year2022-12-31$8,678,420
Value of fidelity bond covering the plan2022-12-31$2,500,000
Assets. Value of tangible personal property2022-12-31$0
Total contributions received or receivable from participants2022-12-31$408,821
Assets. Value of loans (other than to participants)2022-12-31$0
Expenses. Other expenses not covered elsewhere2022-12-31$0
Contributions received from other sources (not participants or employers)2022-12-31$266,090
Other income received2022-12-31$-1,591,175
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$-1,973,341
Net plan assets at end of year (total assets less liabilities)2022-12-31$6,705,079
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$8,678,420
Assets. Value of participant loans2022-12-31$90,468
Assets. Value of assets in partnership/joint-venture interests2022-12-31$0
Assets. Value of real-estate (other than employer real property)2022-12-31$0
Assets. Value of employer securities2022-12-31$0
Assets. Value of employer real property2022-12-31$0
Total contributions received or receivable from employer(s)2022-12-31$197,600
Value of certain deemed distributions of participant loans2022-12-31$0
Value of corrective distributions2022-12-31$7,299
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$975
2021 : THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2021 401k financial data
Transfers to/from the plan2021-12-31$0
Total plan liabilities at end of year2021-12-31$0
Total plan liabilities at beginning of year2021-12-31$0
Total income from all sources2021-12-31$1,556,195
Expenses. Total of all expenses incurred2021-12-31$127,239
Benefits paid (including direct rollovers)2021-12-31$126,339
Total plan assets at end of year2021-12-31$8,678,420
Total plan assets at beginning of year2021-12-31$7,249,464
Value of fidelity bond covering the plan2021-12-31$2,500,000
Assets. Value of tangible personal property2021-12-31$0
Total contributions received or receivable from participants2021-12-31$341,496
Assets. Value of loans (other than to participants)2021-12-31$0
Expenses. Other expenses not covered elsewhere2021-12-31$0
Contributions received from other sources (not participants or employers)2021-12-31$33,336
Other income received2021-12-31$1,008,781
Noncash contributions received2021-12-31$0
Net income (gross income less expenses)2021-12-31$1,428,956
Net plan assets at end of year (total assets less liabilities)2021-12-31$8,678,420
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$7,249,464
Assets. Value of participant loans2021-12-31$73,344
Assets. Value of assets in partnership/joint-venture interests2021-12-31$0
Assets. Value of real-estate (other than employer real property)2021-12-31$0
Assets. Value of employer securities2021-12-31$0
Assets. Value of employer real property2021-12-31$0
Total contributions received or receivable from employer(s)2021-12-31$172,582
Value of certain deemed distributions of participant loans2021-12-31$0
Value of corrective distributions2021-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$900
2020 : THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2020 401k financial data
Transfers to/from the plan2020-12-31$0
Total plan liabilities at end of year2020-12-31$0
Total plan liabilities at beginning of year2020-12-31$0
Total income from all sources2020-12-31$1,498,945
Expenses. Total of all expenses incurred2020-12-31$783,870
Benefits paid (including direct rollovers)2020-12-31$782,726
Total plan assets at end of year2020-12-31$7,249,464
Total plan assets at beginning of year2020-12-31$6,534,389
Value of fidelity bond covering the plan2020-12-31$2,500,000
Assets. Value of tangible personal property2020-12-31$0
Total contributions received or receivable from participants2020-12-31$308,297
Assets. Value of loans (other than to participants)2020-12-31$0
Expenses. Other expenses not covered elsewhere2020-12-31$0
Contributions received from other sources (not participants or employers)2020-12-31$0
Other income received2020-12-31$1,020,678
Noncash contributions received2020-12-31$0
Net income (gross income less expenses)2020-12-31$715,075
Net plan assets at end of year (total assets less liabilities)2020-12-31$7,249,464
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$6,534,389
Assets. Value of participant loans2020-12-31$102,295
Assets. Value of assets in partnership/joint-venture interests2020-12-31$0
Assets. Value of real-estate (other than employer real property)2020-12-31$0
Assets. Value of employer securities2020-12-31$0
Assets. Value of employer real property2020-12-31$0
Total contributions received or receivable from employer(s)2020-12-31$169,970
Value of certain deemed distributions of participant loans2020-12-31$0
Value of corrective distributions2020-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$1,144
2019 : THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2019 401k financial data
Transfers to/from the plan2019-12-31$0
Total plan liabilities at end of year2019-12-31$0
Total plan liabilities at beginning of year2019-12-31$0
Total income from all sources2019-12-31$1,687,561
Expenses. Total of all expenses incurred2019-12-31$817,478
Benefits paid (including direct rollovers)2019-12-31$816,759
Total plan assets at end of year2019-12-31$6,534,389
Total plan assets at beginning of year2019-12-31$5,664,306
Value of fidelity bond covering the plan2019-12-31$2,500,000
Total contributions received or receivable from participants2019-12-31$297,253
Expenses. Other expenses not covered elsewhere2019-12-31$0
Contributions received from other sources (not participants or employers)2019-12-31$0
Other income received2019-12-31$1,225,499
Noncash contributions received2019-12-31$0
Net income (gross income less expenses)2019-12-31$870,083
Net plan assets at end of year (total assets less liabilities)2019-12-31$6,534,389
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$5,664,306
Assets. Value of participant loans2019-12-31$89,617
Total contributions received or receivable from employer(s)2019-12-31$164,809
Value of certain deemed distributions of participant loans2019-12-31$0
Value of corrective distributions2019-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$719
2018 : THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2018 401k financial data
Transfers to/from the plan2018-12-31$0
Total plan liabilities at end of year2018-12-31$0
Total plan liabilities at beginning of year2018-12-31$0
Total income from all sources2018-12-31$225,078
Expenses. Total of all expenses incurred2018-12-31$73,818
Benefits paid (including direct rollovers)2018-12-31$72,893
Total plan assets at end of year2018-12-31$5,664,306
Total plan assets at beginning of year2018-12-31$5,513,046
Value of fidelity bond covering the plan2018-12-31$2,500,000
Total contributions received or receivable from participants2018-12-31$279,842
Expenses. Other expenses not covered elsewhere2018-12-31$0
Contributions received from other sources (not participants or employers)2018-12-31$187,162
Other income received2018-12-31$-401,372
Noncash contributions received2018-12-31$0
Net income (gross income less expenses)2018-12-31$151,260
Net plan assets at end of year (total assets less liabilities)2018-12-31$5,664,306
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$5,513,046
Assets. Value of participant loans2018-12-31$125,927
Total contributions received or receivable from employer(s)2018-12-31$159,446
Value of certain deemed distributions of participant loans2018-12-31$0
Value of corrective distributions2018-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$925
2017 : THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2017 401k financial data
Transfers to/from the plan2017-12-31$0
Total plan liabilities at end of year2017-12-31$0
Total plan liabilities at beginning of year2017-12-31$0
Total income from all sources2017-12-31$1,307,487
Expenses. Total of all expenses incurred2017-12-31$510,896
Benefits paid (including direct rollovers)2017-12-31$510,277
Total plan assets at end of year2017-12-31$5,513,046
Total plan assets at beginning of year2017-12-31$4,716,455
Value of fidelity bond covering the plan2017-12-31$2,500,000
Total contributions received or receivable from participants2017-12-31$280,457
Expenses. Other expenses not covered elsewhere2017-12-31$0
Contributions received from other sources (not participants or employers)2017-12-31$36,390
Other income received2017-12-31$824,602
Noncash contributions received2017-12-31$0
Net income (gross income less expenses)2017-12-31$796,591
Net plan assets at end of year (total assets less liabilities)2017-12-31$5,513,046
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$4,716,455
Assets. Value of participant loans2017-12-31$150,296
Total contributions received or receivable from employer(s)2017-12-31$166,038
Value of certain deemed distributions of participant loans2017-12-31$0
Value of corrective distributions2017-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$619
2016 : THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2016 401k financial data
Transfers to/from the plan2016-12-31$0
Total plan liabilities at end of year2016-12-31$0
Total plan liabilities at beginning of year2016-12-31$0
Total income from all sources2016-12-31$627,512
Expenses. Total of all expenses incurred2016-12-31$43,697
Benefits paid (including direct rollovers)2016-12-31$43,153
Total plan assets at end of year2016-12-31$4,716,455
Total plan assets at beginning of year2016-12-31$4,132,640
Value of fidelity bond covering the plan2016-12-31$2,500,000
Total contributions received or receivable from participants2016-12-31$218,042
Expenses. Other expenses not covered elsewhere2016-12-31$0
Contributions received from other sources (not participants or employers)2016-12-31$62,469
Other income received2016-12-31$209,586
Noncash contributions received2016-12-31$0
Net income (gross income less expenses)2016-12-31$583,815
Net plan assets at end of year (total assets less liabilities)2016-12-31$4,716,455
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$4,132,640
Assets. Value of participant loans2016-12-31$77,938
Total contributions received or receivable from employer(s)2016-12-31$137,415
Value of certain deemed distributions of participant loans2016-12-31$0
Value of corrective distributions2016-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2016-12-31$544

Form 5500 Responses for THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN

2022: THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01This submission is the final filingNo
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01This submission is the final filingNo
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01This submission is the final filingNo
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedNo
2018-01-01This submission is the final filingNo
2018-01-01This return/report is a short plan year return/report (less than 12 months)No
2018-01-01Plan is a collectively bargained planNo
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedNo
2017-01-01This submission is the final filingNo
2017-01-01This return/report is a short plan year return/report (less than 12 months)No
2017-01-01Plan is a collectively bargained planNo
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: THE UNION STATE BANK 401(K) AND PROFIT SHARING PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Submission has been amendedNo
2016-01-01This submission is the final filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes

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