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NORTH GEORGIA ELECTRIC MEMBERSHIP CORPORATION 401(K) PLAN FOR UNION EMPLOYEES 401k Plan overview

Plan NameNORTH GEORGIA ELECTRIC MEMBERSHIP CORPORATION 401(K) PLAN FOR UNION EMPLOYEES
Plan identification number 004

NORTH GEORGIA ELECTRIC MEMBERSHIP CORPORATION 401(K) PLAN FOR UNION EMPLOYEES 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

NORTH GEORGIA ELECTRIC MEMBERSHIP CORPORATION has sponsored the creation of one or more 401k plans.

Company Name:NORTH GEORGIA ELECTRIC MEMBERSHIP CORPORATION
Employer identification number (EIN):580370240
NAIC Classification:221100

Form 5500 Filing Information

Submission information for form 5500 for 401k plan NORTH GEORGIA ELECTRIC MEMBERSHIP CORPORATION 401(K) PLAN FOR UNION EMPLOYEES

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0042023-01-01TENA PORTER2024-06-27
0042022-01-01TENA PORTER2023-07-28
0042021-01-01TENA PORTER2022-05-19 TENA PORTER2022-05-19
0042020-01-01TENA PORTER2021-07-02 TENA PORTER2021-07-02
0042019-01-01TENA PORTER2020-07-13
0042018-01-01KIM GAMEL2019-05-02
0042017-01-01KIM GAMEL2018-09-11

Plan Statistics for NORTH GEORGIA ELECTRIC MEMBERSHIP CORPORATION 401(K) PLAN FOR UNION EMPLOYEES

401k plan membership statisitcs for NORTH GEORGIA ELECTRIC MEMBERSHIP CORPORATION 401(K) PLAN FOR UNION EMPLOYEES

Measure Date Value
2025: NORTH GEORGIA ELECTRIC MEMBERSHIP CORPORATION 401(K) PLAN FOR UNION EMPLOYEES 2025 401k membership
Total number of particpants at beginning of year2025-06-2358
Total number of particpants at end of year2025-06-2355
Number of Participants With Account Balances2025-06-2353
2024: NORTH GEORGIA ELECTRIC MEMBERSHIP CORPORATION 401(K) PLAN FOR UNION EMPLOYEES 2024 401k membership
Total number of particpants at beginning of year2024-06-2763
Total number of particpants at end of year2024-06-2758
Number of Participants With Account Balances2024-06-2758
2022: NORTH GEORGIA ELECTRIC MEMBERSHIP CORPORATION 401(K) PLAN FOR UNION EMPLOYEES 2022 401k membership
Total number of particpants at beginning of year2022-05-1951
Total number of particpants at end of year2022-05-1955
Number of Participants With Account Balances2022-05-1949

Financial Data on NORTH GEORGIA ELECTRIC MEMBERSHIP CORPORATION 401(K) PLAN FOR UNION EMPLOYEES

Measure Date Value
2025 : NORTH GEORGIA ELECTRIC MEMBERSHIP CORPORATION 401(K) PLAN FOR UNION EMPLOYEES 2025 401k financial data
Total transfers to/from plan in this plan year2025-06-230
Total liabilities as of the end of the plan year2025-06-230
Total liabilities as of the beginning of the plan year2025-06-230
Total expenses incurred by plan in this plan year2025-06-231951678
Net assets as of the end of the plan year2025-06-237288646
Total assets as of the beginning of the plan year2025-06-237200216
Value of plan covered by a fidelity bond2025-06-23500000
Participant contributions to plan in this plan year2025-06-23423378
Value of participant loans at end of plan year2025-06-23230179
Other expenses paid from plan in this plan year2025-06-230
Other contributions to plan in this plan year2025-06-230
Other income to plan in this plan year2025-06-23945265
Plan net income in this plan year2025-06-2388430
Net assets as of the end of the plan year2025-06-237288646
Net assets as of the beginning of the plan year2025-06-237200216
Employer contributions to plan in this plan year2025-06-23671465
Expensese paid to adminstrative service provicers from plan in this plan year2025-06-230
2024 : NORTH GEORGIA ELECTRIC MEMBERSHIP CORPORATION 401(K) PLAN FOR UNION EMPLOYEES 2024 401k financial data
Total transfers to/from plan in this plan year2024-06-270
Total liabilities as of the end of the plan year2024-06-270
Total liabilities as of the beginning of the plan year2024-06-270
Total expenses incurred by plan in this plan year2024-06-27347881
Net assets as of the end of the plan year2024-06-277200216
Total assets as of the beginning of the plan year2024-06-275440019
Value of plan covered by a fidelity bond2024-06-27500000
Participant contributions to plan in this plan year2024-06-27479079
Value of participant loans at end of plan year2024-06-27246605
Other expenses paid from plan in this plan year2024-06-270
Other contributions to plan in this plan year2024-06-270
Other income to plan in this plan year2024-06-27963307
Plan net income in this plan year2024-06-271760197
Net assets as of the end of the plan year2024-06-277200216
Net assets as of the beginning of the plan year2024-06-275440019
Employer contributions to plan in this plan year2024-06-27665692
Expensese paid to adminstrative service provicers from plan in this plan year2024-06-270
2022 : NORTH GEORGIA ELECTRIC MEMBERSHIP CORPORATION 401(K) PLAN FOR UNION EMPLOYEES 2022 401k financial data
Total transfers to/from plan in this plan year2022-05-19-2295780
Total expenses incurred by plan in this plan year2022-05-191356495
Net assets as of the end of the plan year2022-05-196787220
Total assets as of the beginning of the plan year2022-05-198258666
Value of plan covered by a fidelity bond2022-05-19500000
Participant contributions to plan in this plan year2022-05-19349634
Value of participant loans at end of plan year2022-05-1982325
Other income to plan in this plan year2022-05-191336874
Plan net income in this plan year2022-05-19824334
Net assets as of the end of the plan year2022-05-196787220
Net assets as of the beginning of the plan year2022-05-198258666
Employer contributions to plan in this plan year2022-05-19494321
Expensese paid to adminstrative service provicers from plan in this plan year2022-05-19620

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