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THE RACK COMPANY RETIREMENT PLAN 401k Plan overview

Plan NameTHE RACK COMPANY RETIREMENT PLAN
Plan identification number 001

THE RACK COMPANY RETIREMENT 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 RACK COMPANY has sponsored the creation of one or more 401k plans.

Company Name:THE RACK COMPANY
Employer identification number (EIN):852669047
NAIC Classification:441300
NAIC Description: Automotive Parts, Accessories, and Tire Stores

Additional information about THE RACK COMPANY

Jurisdiction of Incorporation: Vermont Secretary of State Corporations Division
Incorporation Date: 2020-08-21
Company Identification Number: 376247
Legal Registered Office Address: 554 Lavigne Hill Road

Hinesburg
United States of America (USA)
05461

More information about THE RACK COMPANY

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE RACK COMPANY RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012021-01-01
0012020-08-28

Plan Statistics for THE RACK COMPANY RETIREMENT PLAN

401k plan membership statisitcs for THE RACK COMPANY RETIREMENT PLAN

Measure Date Value
2022: THE RACK COMPANY RETIREMENT PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-017
Total number of active participants reported on line 7a of the Form 55002022-01-017
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 participants2022-01-017
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-017
Number of participants with account balances2022-01-012
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: THE RACK COMPANY RETIREMENT PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-012
Total number of active participants reported on line 7a of the Form 55002021-01-012
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-010
Total of all active and inactive participants2021-01-012
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-012
Number of participants with account balances2021-01-012
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010
2020: THE RACK COMPANY RETIREMENT PLAN 2020 401k membership
Total participants, beginning-of-year2020-08-282
Total number of active participants reported on line 7a of the Form 55002020-08-282
Number of retired or separated participants receiving benefits2020-08-280
Number of other retired or separated participants entitled to future benefits2020-08-280
Total of all active and inactive participants2020-08-282
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-08-280
Total participants2020-08-282
Number of participants with account balances2020-08-282
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-08-280

Financial Data on THE RACK COMPANY RETIREMENT PLAN

Measure Date Value
2022 : THE RACK COMPANY RETIREMENT PLAN 2022 401k financial data
Total income from all sources2022-12-31$-113,526
Expenses. Total of all expenses incurred2022-12-31$0
Total plan assets at end of year2022-12-31$1,305,555
Total plan assets at beginning of year2022-12-31$1,419,081
Value of fidelity bond covering the plan2022-12-31$385,000
Other income received2022-12-31$-113,526
Net income (gross income less expenses)2022-12-31$-113,526
Net plan assets at end of year (total assets less liabilities)2022-12-31$1,305,555
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$1,419,081
Assets. Value of employer securities2022-12-31$1,305,555
2021 : THE RACK COMPANY RETIREMENT PLAN 2021 401k financial data
Total income from all sources2021-12-31$113,527
Expenses. Total of all expenses incurred2021-12-31$0
Total plan assets at end of year2021-12-31$1,419,081
Total plan assets at beginning of year2021-12-31$1,305,554
Value of fidelity bond covering the plan2021-12-31$385,000
Other income received2021-12-31$113,527
Net income (gross income less expenses)2021-12-31$113,527
Net plan assets at end of year (total assets less liabilities)2021-12-31$1,419,081
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$1,305,554
Assets. Value of employer securities2021-12-31$1,419,081
2020 : THE RACK COMPANY RETIREMENT PLAN 2020 401k financial data
Total income from all sources2020-12-31$1,305,614
Expenses. Total of all expenses incurred2020-12-31$60
Total plan assets at end of year2020-12-31$1,305,554
Total plan assets at beginning of year2020-12-31$0
Value of fidelity bond covering the plan2020-12-31$385,000
Contributions received from other sources (not participants or employers)2020-12-31$177,106
Other income received2020-12-31$1,128,508
Net income (gross income less expenses)2020-12-31$1,305,554
Net plan assets at end of year (total assets less liabilities)2020-12-31$1,305,554
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$0
Assets. Value of employer securities2020-12-31$1,305,554
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$60

Form 5500 Responses for THE RACK COMPANY RETIREMENT PLAN

2022: THE RACK COMPANY RETIREMENT 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 RACK COMPANY RETIREMENT 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 RACK COMPANY RETIREMENT PLAN 2020 form 5500 responses
2020-08-28Type of plan entitySingle employer plan
2020-08-28First time form 5500 has been submittedYes
2020-08-28Submission has been amendedNo
2020-08-28This submission is the final filingNo
2020-08-28This return/report is a short plan year return/report (less than 12 months)Yes
2020-08-28Plan is a collectively bargained planNo
2020-08-28Plan funding arrangement – TrustYes
2020-08-28Plan benefit arrangement - TrustYes

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