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R. L. BANKS & ASSOC. AMENDED & RESTATED PROFIT SHARING PLAN 401k Plan overview

Plan NameR. L. BANKS & ASSOC. AMENDED & RESTATED PROFIT SHARING PLAN
Plan identification number 001

R. L. BANKS & ASSOC. AMENDED & RESTATED PROFIT SHARING 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

R. L BANKS & ASSOCIATES, INC. has sponsored the creation of one or more 401k plans.

Company Name:R. L BANKS & ASSOCIATES, INC.
Employer identification number (EIN):520747012
NAIC Classification:541600

Form 5500 Filing Information

Submission information for form 5500 for 401k plan R. L. BANKS & ASSOC. AMENDED & RESTATED 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
0012018-01-01
0012017-01-01
0012016-01-01
0012015-01-01
0012014-01-01CHARLES BANKS2015-04-21
0012013-01-01CHARLES BANKS2014-08-18
0012012-01-01CHARLES BANKS2013-10-15
0012011-01-01KATHY SAMALONIS2012-10-12
0012010-01-01CHARLES BANKS2011-09-07

Plan Statistics for R. L. BANKS & ASSOC. AMENDED & RESTATED PROFIT SHARING PLAN

401k plan membership statisitcs for R. L. BANKS & ASSOC. AMENDED & RESTATED PROFIT SHARING PLAN

Measure Date Value
2025: R. L. BANKS & ASSOC. AMENDED & RESTATED PROFIT SHARING PLAN 2025 401k membership
Total number of particpants at beginning of year2025-10-1515
Total number of particpants at end of year2025-10-1516
Number of Participants With Account Balances2025-10-1515
Total number of particpants at beginning of year2025-10-0914
Total number of particpants at end of year2025-10-0914
Number of Participants With Account Balances2025-10-0911
2022: R. L. BANKS & ASSOC. AMENDED & RESTATED PROFIT SHARING PLAN 2022 401k membership
Total number of particpants at beginning of year2022-10-1215
Total number of particpants at end of year2022-10-1215
Number of Participants With Account Balances2022-10-1214

Financial Data on R. L. BANKS & ASSOC. AMENDED & RESTATED PROFIT SHARING PLAN

Measure Date Value
2025 : R. L. BANKS & ASSOC. AMENDED & RESTATED PROFIT SHARING PLAN 2025 401k financial data
Total transfers to/from plan in this plan year2025-10-150
Total liabilities as of the end of the plan year2025-10-150
Total liabilities as of the beginning of the plan year2025-10-150
Total expenses incurred by plan in this plan year2025-10-1588340
Net assets as of the end of the plan year2025-10-152504310
Total assets as of the beginning of the plan year2025-10-152226759
Value of plan covered by a fidelity bond2025-10-15500000
Participant contributions to plan in this plan year2025-10-1539076
Other expenses paid from plan in this plan year2025-10-150
Other contributions to plan in this plan year2025-10-150
Other income to plan in this plan year2025-10-15312626
Plan net income in this plan year2025-10-15277551
Net assets as of the end of the plan year2025-10-152504310
Net assets as of the beginning of the plan year2025-10-152226759
Employer contributions to plan in this plan year2025-10-1514189
Expensese paid to adminstrative service provicers from plan in this plan year2025-10-1524245
Total liabilities as of the end of the plan year2025-10-090
Total liabilities as of the beginning of the plan year2025-10-090
Total expenses incurred by plan in this plan year2025-10-0930540
Net assets as of the end of the plan year2025-10-092226759
Total assets as of the beginning of the plan year2025-10-091836636
Value of plan covered by a fidelity bond2025-10-09500000
Participant contributions to plan in this plan year2025-10-0968439
Other expenses paid from plan in this plan year2025-10-090
Other contributions to plan in this plan year2025-10-090
Other income to plan in this plan year2025-10-09313172
Plan net income in this plan year2025-10-09390123
Net assets as of the end of the plan year2025-10-092226759
Net assets as of the beginning of the plan year2025-10-091836636
Employer contributions to plan in this plan year2025-10-0939052
Expensese paid to adminstrative service provicers from plan in this plan year2025-10-0920089
2022 : R. L. BANKS & ASSOC. AMENDED & RESTATED PROFIT SHARING PLAN 2022 401k financial data
Total expenses incurred by plan in this plan year2022-10-1245316
Net assets as of the end of the plan year2022-10-122121493
Total assets as of the beginning of the plan year2022-10-121876207
Value of plan covered by a fidelity bond2022-10-12500000
Participant contributions to plan in this plan year2022-10-1231580
Other income to plan in this plan year2022-10-12242140
Plan net income in this plan year2022-10-12245286
Net assets as of the end of the plan year2022-10-122121493
Net assets as of the beginning of the plan year2022-10-121876207
Employer contributions to plan in this plan year2022-10-1216882
Fees paid to broker by Benefit Provider2022-10-12972
Expensese paid to adminstrative service provicers from plan in this plan year2022-10-1220926

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