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PRECISION PRODUCTS OF ASHEVILLE, INC 401(K) PLAN 401k Plan overview

Plan NamePRECISION PRODUCTS OF ASHEVILLE, INC 401(K) PLAN
Plan identification number 002

PRECISION PRODUCTS OF ASHEVILLE, INC 401(K) 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.
  • 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

PRECISION PRODUCTS OF ASHEVILLE, INC. has sponsored the creation of one or more 401k plans.

Company Name:PRECISION PRODUCTS OF ASHEVILLE, INC.
Employer identification number (EIN):560895277
NAIC Classification:339900

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PRECISION PRODUCTS OF ASHEVILLE, INC 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01
0022021-01-01
0022020-01-01
0022018-01-01JULIE HERREN2019-08-07 JULIE HERREN2019-08-07
0022017-01-01JULIE HERREN2018-06-18 JULIE HERREN2018-06-18
0022016-01-01JULIE HERREN2017-06-26 JULIE HERREN2017-06-26
0022015-01-01JULIE HERREN
0022014-01-01JULIE HERREN2015-10-02 JULIE HERREN2015-10-02
0022013-01-01
0022012-01-01JULIE A. HERREN2013-07-02 JULIE A. HERREN2013-07-02
0022011-01-01JULIE A. HERREN2012-09-27 JULIE A. HERREN2012-09-27
0022010-01-01JULIE A. HERREN2011-10-14 JULIE A. HERREN2011-10-14

Plan Statistics for PRECISION PRODUCTS OF ASHEVILLE, INC 401(K) PLAN

401k plan membership statisitcs for PRECISION PRODUCTS OF ASHEVILLE, INC 401(K) PLAN

Measure Date Value
2015: PRECISION PRODUCTS OF ASHEVILLE, INC 401(K) PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-0137
Total number of active participants reported on line 7a of the Form 55002015-01-0144
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-0112
Total of all active and inactive participants2015-01-0156
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-0156
Number of participants with account balances2015-01-0137
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-010
2014: PRECISION PRODUCTS OF ASHEVILLE, INC 401(K) PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-0146
Total number of active participants reported on line 7a of the Form 55002014-01-0136
Number of retired or separated participants receiving benefits2014-01-010
Number of other retired or separated participants entitled to future benefits2014-01-011
Total of all active and inactive participants2014-01-0137
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-0137
Number of participants with account balances2014-01-0134
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-010

Financial Data on PRECISION PRODUCTS OF ASHEVILLE, INC 401(K) PLAN

Measure Date Value
2015 : PRECISION PRODUCTS OF ASHEVILLE, INC 401(K) PLAN 2015 401k financial data
Total income from all sources2015-12-31$78,527
Expenses. Total of all expenses incurred2015-12-31$1,744
Benefits paid (including direct rollovers)2015-12-31$1,594
Total plan assets at end of year2015-12-31$1,065,704
Total plan assets at beginning of year2015-12-31$988,921
Value of fidelity bond covering the plan2015-12-31$150,000
Total contributions received or receivable from participants2015-12-31$39,488
Contributions received from other sources (not participants or employers)2015-12-31$2,810
Other income received2015-12-31$-203
Net income (gross income less expenses)2015-12-31$76,783
Net plan assets at end of year (total assets less liabilities)2015-12-31$1,065,704
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$988,921
Assets. Value of participant loans2015-12-31$55,110
Total contributions received or receivable from employer(s)2015-12-31$36,432
Expenses. Administrative service providers (salaries,fees and commissions)2015-12-31$150
2014 : PRECISION PRODUCTS OF ASHEVILLE, INC 401(K) PLAN 2014 401k financial data
Total income from all sources2014-12-31$84,140
Expenses. Total of all expenses incurred2014-12-31$1,266
Benefits paid (including direct rollovers)2014-12-31$96
Total plan assets at end of year2014-12-31$988,921
Total plan assets at beginning of year2014-12-31$906,047
Value of fidelity bond covering the plan2014-12-31$150,000
Total contributions received or receivable from participants2014-12-31$25,938
Expenses. Other expenses not covered elsewhere2014-12-31$1,170
Other income received2014-12-31$33,857
Net income (gross income less expenses)2014-12-31$82,874
Net plan assets at end of year (total assets less liabilities)2014-12-31$988,921
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$906,047
Assets. Value of participant loans2014-12-31$75,695
Total contributions received or receivable from employer(s)2014-12-31$24,345

Form 5500 Responses for PRECISION PRODUCTS OF ASHEVILLE, INC 401(K) PLAN

2015: PRECISION PRODUCTS OF ASHEVILLE, INC 401(K) PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingNo
2015-01-01This return/report is a short plan year return/report (less than 12 months)No
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – InsuranceYes
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement – InsuranceYes
2015-01-01Plan benefit arrangement - TrustYes
2014: PRECISION PRODUCTS OF ASHEVILLE, INC 401(K) PLAN 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Submission has been amendedNo
2014-01-01This submission is the final filingNo
2014-01-01This return/report is a short plan year return/report (less than 12 months)No
2014-01-01Plan is a collectively bargained planNo
2014-01-01Plan funding arrangement – InsuranceYes
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement – InsuranceYes
2014-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )
Policy contract numberZH9851
Policy instance 1
Insurance contract or identification numberZH9851
Number of Individuals Covered56
Insurance policy start date2015-01-01
Insurance policy end date2015-12-31
Total amount of commissions paid to insurance brokerUSD $775
Total amount of fees paid to insurance companyUSD $0
Are there contracts with allocated funds for individual policies?No
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $775
Insurance broker organization code?3
Insurance broker nameBB&T SECURITIES, LLC
VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )
Policy contract numberZH9851
Policy instance 1
Insurance contract or identification numberZH9851
Number of Individuals Covered34
Insurance policy start date2014-12-26
Insurance policy end date2014-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Are there contracts with allocated funds for individual policies?No
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No

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