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THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 401k Plan overview

Plan NameTHE TRANSIT GROUP, INC. PROFIT SHARING PLAN
Plan identification number 001

THE TRANSIT GROUP, INC. PROFIT SHARING PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • 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.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • 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

THE TRANSIT GROUP, INC. has sponsored the creation of one or more 401k plans.

Company Name:THE TRANSIT GROUP, INC.
Employer identification number (EIN):611747043
NAIC Classification:541600

Additional information about THE TRANSIT GROUP, INC.

Jurisdiction of Incorporation: Florida Department of State Division of Corporations
Incorporation Date: 2014-10-03
Company Identification Number: P14000081660
Legal Registered Office Address: 7901 4TH STREET NORTH

ST.PETERSBURG

33702

More information about THE TRANSIT GROUP, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE TRANSIT GROUP, INC. PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012024-01-01JAMES SELLERS
0012023-01-01
0012023-01-01JAMES SELLERS
0012022-01-01
0012022-01-01LINDA DEFOREST
0012021-01-01
0012021-01-01LINDA DEFOREST
0012020-01-01
0012019-01-01
0012018-01-01
0012017-01-01STAN DEFOREST
0012016-01-01STAN DEFOREST
0012015-01-01STAN DEFOREST
0012014-10-22STAN DEFOREST

Plan Statistics for THE TRANSIT GROUP, INC. PROFIT SHARING PLAN

401k plan membership statisitcs for THE TRANSIT GROUP, INC. PROFIT SHARING PLAN

Measure Date Value
2023: THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2023 401k membership
Total participants, beginning-of-year2023-01-0163
Total number of active participants reported on line 7a of the Form 55002023-01-0138
Number of retired or separated participants receiving benefits2023-01-010
Number of other retired or separated participants entitled to future benefits2023-01-0112
Total of all active and inactive participants2023-01-0150
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2023-01-010
Total participants2023-01-0150
Number of participants with account balances2023-01-0148
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2023-01-010
2022: THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-0152
Total number of active participants reported on line 7a of the Form 55002022-01-0153
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-010
Total of all active and inactive participants2022-01-0153
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-0153
Number of participants with account balances2022-01-0150
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-0148
Total number of active participants reported on line 7a of the Form 55002021-01-0150
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-012
Total of all active and inactive participants2021-01-0152
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-0152
Number of participants with account balances2021-01-0148
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010
2020: THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-0139
Total number of active participants reported on line 7a of the Form 55002020-01-0143
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-015
Total of all active and inactive participants2020-01-0148
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-0148
Number of participants with account balances2020-01-0147
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-0140
Total number of active participants reported on line 7a of the Form 55002019-01-0139
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-013
Total of all active and inactive participants2019-01-0142
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-0142
Number of participants with account balances2019-01-0141
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-0135
Total number of active participants reported on line 7a of the Form 55002018-01-0132
Number of retired or separated participants receiving benefits2018-01-014
Total of all active and inactive participants2018-01-0136
Total participants2018-01-0136
Number of participants with account balances2018-01-0136
2017: THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-0141
Total number of active participants reported on line 7a of the Form 55002017-01-0134
Number of other retired or separated participants entitled to future benefits2017-01-011
Total of all active and inactive participants2017-01-0135
Total participants2017-01-0135
Number of participants with account balances2017-01-0120
2016: THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2016 401k membership
Total participants, beginning-of-year2016-01-0116
Total number of active participants reported on line 7a of the Form 55002016-01-0141
Total of all active and inactive participants2016-01-0141
Total participants2016-01-0141
Number of participants with account balances2016-01-0113
2015: THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-0117
Total number of active participants reported on line 7a of the Form 55002015-01-0115
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-011
Total of all active and inactive participants2015-01-0116
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-0116
Number of participants with account balances2015-01-019
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-010
2014: THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2014 401k membership
Total participants, beginning-of-year2014-10-220
Total number of active participants reported on line 7a of the Form 55002014-10-221
Total of all active and inactive participants2014-10-221
Total participants2014-10-221
Number of participants with account balances2014-10-220

Financial Data on THE TRANSIT GROUP, INC. PROFIT SHARING PLAN

Measure Date Value
2023 : THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2023 401k financial data
Total income from all sources2023-12-31$-2,199,845
Expenses. Total of all expenses incurred2023-12-31$155,734
Benefits paid (including direct rollovers)2023-12-31$155,296
Total plan assets at end of year2023-12-31$3,784,965
Total plan assets at beginning of year2023-12-31$6,140,544
Value of fidelity bond covering the plan2023-12-31$400,000
Total contributions received or receivable from participants2023-12-31$145,406
Contributions received from other sources (not participants or employers)2023-12-31$7,091
Other income received2023-12-31$-2,430,110
Net income (gross income less expenses)2023-12-31$-2,355,579
Net plan assets at end of year (total assets less liabilities)2023-12-31$3,784,965
Net plan assets at beginning of year (total assets less liabilities)2023-12-31$6,140,544
Assets. Value of employer securities2023-12-31$1,985,651
Total contributions received or receivable from employer(s)2023-12-31$77,768
Expenses. Administrative service providers (salaries,fees and commissions)2023-12-31$438
2022 : THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2022 401k financial data
Total income from all sources2022-12-31$-260,004
Expenses. Total of all expenses incurred2022-12-31$267,889
Benefits paid (including direct rollovers)2022-12-31$267,299
Total plan assets at end of year2022-12-31$6,140,544
Total plan assets at beginning of year2022-12-31$6,668,437
Value of fidelity bond covering the plan2022-12-31$400,000
Total contributions received or receivable from participants2022-12-31$130,656
Expenses. Other expenses not covered elsewhere2022-12-31$590
Other income received2022-12-31$-459,452
Net income (gross income less expenses)2022-12-31$-527,893
Net plan assets at end of year (total assets less liabilities)2022-12-31$6,140,544
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$6,668,437
Assets. Value of employer securities2022-12-31$4,692,099
Total contributions received or receivable from employer(s)2022-12-31$68,792
2021 : THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2021 401k financial data
Total income from all sources2021-12-31$1,945,892
Expenses. Total of all expenses incurred2021-12-31$81,111
Benefits paid (including direct rollovers)2021-12-31$78,763
Total plan assets at end of year2021-12-31$6,668,437
Total plan assets at beginning of year2021-12-31$4,803,656
Value of fidelity bond covering the plan2021-12-31$400,000
Total contributions received or receivable from participants2021-12-31$131,626
Other income received2021-12-31$1,751,488
Net income (gross income less expenses)2021-12-31$1,864,781
Net plan assets at end of year (total assets less liabilities)2021-12-31$6,668,437
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$4,803,656
Assets. Value of employer securities2021-12-31$4,907,565
Total contributions received or receivable from employer(s)2021-12-31$62,778
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$2,348
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
2020 : THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2020 401k financial data
Total income from all sources2020-12-31$1,291,704
Expenses. Total of all expenses incurred2020-12-31$1,315
Total plan assets at end of year2020-12-31$4,803,656
Total plan assets at beginning of year2020-12-31$3,513,267
Value of fidelity bond covering the plan2020-12-31$400,000
Total contributions received or receivable from participants2020-12-31$145,583
Contributions received from other sources (not participants or employers)2020-12-31$40,751
Other income received2020-12-31$1,040,674
Net income (gross income less expenses)2020-12-31$1,290,389
Net plan assets at end of year (total assets less liabilities)2020-12-31$4,803,656
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$3,513,267
Assets. Value of employer securities2020-12-31$3,419,034
Total contributions received or receivable from employer(s)2020-12-31$64,696
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$1,315
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
2019 : THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2019 401k financial data
Total income from all sources2019-12-31$637,185
Expenses. Total of all expenses incurred2019-12-31$85,184
Benefits paid (including direct rollovers)2019-12-31$84,226
Total plan assets at end of year2019-12-31$3,513,267
Total plan assets at beginning of year2019-12-31$2,961,266
Value of fidelity bond covering the plan2019-12-31$400,000
Total contributions received or receivable from participants2019-12-31$172,875
Other income received2019-12-31$397,597
Net income (gross income less expenses)2019-12-31$552,001
Net plan assets at end of year (total assets less liabilities)2019-12-31$3,513,267
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$2,961,266
Assets. Value of employer securities2019-12-31$2,550,212
Total contributions received or receivable from employer(s)2019-12-31$66,713
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$958
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
2018 : THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2018 401k financial data
Total income from all sources2018-12-31$513,796
Expenses. Total of all expenses incurred2018-12-31$562
Total plan assets at end of year2018-12-31$2,961,266
Total plan assets at beginning of year2018-12-31$2,448,032
Value of fidelity bond covering the plan2018-12-31$400,000
Total contributions received or receivable from participants2018-12-31$92,851
Expenses. Other expenses not covered elsewhere2018-12-31$562
Other income received2018-12-31$369,690
Net income (gross income less expenses)2018-12-31$513,234
Net plan assets at end of year (total assets less liabilities)2018-12-31$2,961,266
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$2,448,032
Assets. Value of employer securities2018-12-31$2,323,104
Total contributions received or receivable from employer(s)2018-12-31$51,255
2017 : THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2017 401k financial data
Total income from all sources2017-12-31$402,691
Expenses. Total of all expenses incurred2017-12-31$8
Total plan assets at end of year2017-12-31$2,448,032
Total plan assets at beginning of year2017-12-31$2,045,349
Value of fidelity bond covering the plan2017-12-31$40,000
Total contributions received or receivable from participants2017-12-31$63,268
Other income received2017-12-31$301,255
Net income (gross income less expenses)2017-12-31$402,683
Net plan assets at end of year (total assets less liabilities)2017-12-31$2,448,032
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$2,045,349
Assets. Value of employer securities2017-12-31$1,893,114
Total contributions received or receivable from employer(s)2017-12-31$38,168
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$8
2016 : THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2016 401k financial data
Total income from all sources2016-12-31$939,678
Expenses. Total of all expenses incurred2016-12-31$7
Total plan assets at end of year2016-12-31$2,045,349
Total plan assets at beginning of year2016-12-31$1,105,678
Value of fidelity bond covering the plan2016-12-31$40,000
Total contributions received or receivable from participants2016-12-31$55,683
Expenses. Other expenses not covered elsewhere2016-12-31$7
Other income received2016-12-31$846,770
Net income (gross income less expenses)2016-12-31$939,671
Net plan assets at end of year (total assets less liabilities)2016-12-31$2,045,349
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$1,105,678
Assets. Value of employer securities2016-12-31$1,658,871
Total contributions received or receivable from employer(s)2016-12-31$37,225
2015 : THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2015 401k financial data
Total income from all sources2015-12-31$862,131
Total plan assets at end of year2015-12-31$1,105,678
Total plan assets at beginning of year2015-12-31$243,547
Value of fidelity bond covering the plan2015-12-31$40,000
Total contributions received or receivable from participants2015-12-31$23,335
Contributions received from other sources (not participants or employers)2015-12-31$234,869
Other income received2015-12-31$588,496
Net income (gross income less expenses)2015-12-31$862,131
Net plan assets at end of year (total assets less liabilities)2015-12-31$1,105,678
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$243,547
Assets. Value of employer securities2015-12-31$845,327
Total contributions received or receivable from employer(s)2015-12-31$15,431
2014 : THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2014 401k financial data
Total income from all sources2014-12-31$243,547
Total plan assets at end of year2014-12-31$243,547
Total plan assets at beginning of year2014-12-31$0
Value of fidelity bond covering the plan2014-12-31$40,000
Net income (gross income less expenses)2014-12-31$243,547
Net plan assets at end of year (total assets less liabilities)2014-12-31$243,547
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$0
Assets. Value of employer securities2014-12-31$243,547
Total contributions received or receivable from employer(s)2014-12-31$243,547

Form 5500 Responses for THE TRANSIT GROUP, INC. PROFIT SHARING PLAN

2023: THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01Submission has been amendedNo
2023-01-01This submission is the final filingNo
2023-01-01This return/report is a short plan year return/report (less than 12 months)No
2023-01-01Plan is a collectively bargained planNo
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement - TrustYes
2022: THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedNo
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingNo
2020-01-01This return/report is a short plan year return/report (less than 12 months)No
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: THE TRANSIT GROUP, INC. 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 TRANSIT GROUP, INC. PROFIT SHARING PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes
2015: THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes
2014: THE TRANSIT GROUP, INC. PROFIT SHARING PLAN 2014 form 5500 responses
2014-10-22Type of plan entitySingle employer plan
2014-10-22First time form 5500 has been submittedYes
2014-10-22This return/report is a short plan year return/report (less than 12 months)Yes
2014-10-22Plan funding arrangement – TrustYes
2014-10-22Plan benefit arrangement - TrustYes

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