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ABT ASSOCIATES INC. EMPLOYEES STOCK OWNERSHIP PLAN 401k Plan overview

Plan NameABT ASSOCIATES INC. EMPLOYEES STOCK OWNERSHIP PLAN
Plan identification number 002

ABT ASSOCIATES INC. EMPLOYEES STOCK OWNERSHIP PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Stock bonus
  • Leveraged ESOP - An ESOP that acquires employer securities with borrowed money or other debt-financing techniques. A completed Schedule E must be attached to a Form 5500 filed for an ESOP.
  • The employer maintaining this ESOP is an S Corporation
  • Plan requiring that all or part of employer contributions be invested and held, at least for a limited period, in employer securities.

401k Sponsoring company profile

ABT GLOBAL INC. has sponsored the creation of one or more 401k plans.

Company Name:ABT GLOBAL INC.
Employer identification number (EIN):934368162
NAIC Classification:541600

Form 5500 Filing Information

Submission information for form 5500 for 401k plan ABT ASSOCIATES INC. EMPLOYEES STOCK OWNERSHIP PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022024-01-01WILLIAM CONNOLLY
0022023-01-01
0022023-01-01WILLIAM CONNOLLY
0022023-01-01WILLIAM CONNOLLY

Plan Statistics for ABT ASSOCIATES INC. EMPLOYEES STOCK OWNERSHIP PLAN

401k plan membership statisitcs for ABT ASSOCIATES INC. EMPLOYEES STOCK OWNERSHIP PLAN

Measure Date Value
2023: ABT ASSOCIATES INC. EMPLOYEES STOCK OWNERSHIP PLAN 2023 401k membership
Total participants, beginning-of-year2023-01-013,697
Total number of active participants reported on line 7a of the Form 55002023-01-012,437
Number of retired or separated participants receiving benefits2023-01-0160
Number of other retired or separated participants entitled to future benefits2023-01-01125
Total of all active and inactive participants2023-01-012,622
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2023-01-016
Total participants2023-01-012,628
Number of participants with account balances2023-01-011,372
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2023-01-0179

Financial Data on ABT ASSOCIATES INC. EMPLOYEES STOCK OWNERSHIP PLAN

Measure Date Value
2023 : ABT ASSOCIATES INC. EMPLOYEES STOCK OWNERSHIP PLAN 2023 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2023-12-31$19,766,300
Total unrealized appreciation/depreciation of assets2023-12-31$19,766,300
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-12-31$23,583,298
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-12-31$24,166,362
Expenses. Interest paid2023-12-31$636,867
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022023-12-31$636,867
Total income from all sources (including contributions)2023-12-31$27,747,930
Total loss/gain on sale of assets2023-12-31$0
Total of all expenses incurred2023-12-31$147,762,030
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2023-12-31$147,125,163
Total contributions o plan (from employers,participants, others, non cash contrinutions)2023-12-31$7,692,856
Value of total assets at end of year2023-12-31$191,580,424
Value of total assets at beginning of year2023-12-31$312,177,588
Total of administrative expenses incurred including professional, contract, advisory and management fees2023-12-31$0
Total interest from all sources2023-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2023-12-31$229,493
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2023-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2023-12-31$229,493
Was this plan covered by a fidelity bond2023-12-31Yes
Value of fidelity bond cover2023-12-31$3,000,000
If this is an individual account plan, was there a blackout period2023-12-31No
Were there any nonexempt tranactions with any party-in-interest2023-12-31No
Value of other receiveables (less allowance for doubtful accounts) at end of year2023-12-31$34,453
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2023-12-31$1,097
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2023-12-31$23,569,251
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2023-12-31$24,152,315
Other income not declared elsewhere2023-12-31$59,281
Total non interest bearing cash at beginning of year2023-12-31$361,537
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2023-12-31No
Value of net income/loss2023-12-31$-120,014,100
Value of net assets at end of year (total assets less liabilities)2023-12-31$167,997,126
Value of net assets at beginning of year (total assets less liabilities)2023-12-31$288,011,226
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2023-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2023-12-31No
Were any leases to which the plan was party in default or uncollectible2023-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2023-12-31$3,968,822
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2023-12-31No
Was there a failure to transmit to the plan any participant contributions2023-12-31No
Has the plan failed to provide any benefit when due under the plan2023-12-31No
Assets. Invements in employer securities at end of year2023-12-31$187,413,798
Assets. Invements in employer securities at beginning of year2023-12-31$311,691,900
Contributions received in cash from employer2023-12-31$7,692,856
Employer contributions (assets) at end of year2023-12-31$163,351
Employer contributions (assets) at beginning of year2023-12-31$123,054
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2023-12-31$147,125,163
Liabilities. Value of benefit claims payable at end of year2023-12-31$14,047
Liabilities. Value of benefit claims payable at beginning of year2023-12-31$14,047
Did the plan have assets held for investment2023-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2023-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2023-12-31No
Opinion of an independent qualified public accountant for this plan2023-12-31Unqualified
Accountancy firm name2023-12-31CBIZ CPAS P.C.
Accountancy firm EIN2023-12-31431947695
Unrealized appreciation/depreciation of other (non real estate) assets2023-01-01$19,766,300
Total unrealized appreciation/depreciation of assets2023-01-01$19,766,300
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-01-01$23,583,298
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-01-01$24,166,362
Total income from all sources (including contributions)2023-01-01$27,747,930
Total loss/gain on sale of assets2023-01-01$0
Total of all expenses incurred2023-01-01$147,762,030
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2023-01-01$147,125,163
Total contributions o plan (from employers,participants, others, non cash contrinutions)2023-01-01$7,692,856
Value of total assets at end of year2023-01-01$191,580,424
Value of total assets at beginning of year2023-01-01$312,177,588
Total of administrative expenses incurred including professional, contract, advisory and management fees2023-01-01$0
Total interest from all sources2023-01-01$0
Total dividends received (eg from common stock, registered investment company shares)2023-01-01$229,493
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2023-01-01No
Total dividends received from registered investment company shares (eg mutual funds)2023-01-01$229,493
Was this plan covered by a fidelity bond2023-01-01Yes
Value of fidelity bond cover2023-01-01$3,000,000
If this is an individual account plan, was there a blackout period2023-01-01No
Were there any nonexempt tranactions with any party-in-interest2023-01-01No
Value of other receiveables (less allowance for doubtful accounts) at end of year2023-01-01$34,453
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2023-01-01$1,097
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2023-01-01$23,569,251
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2023-01-01$24,152,315
Other income not declared elsewhere2023-01-01$59,281
Total non interest bearing cash at beginning of year2023-01-01$361,537
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2023-01-01No
Value of net income/loss2023-01-01$-120,014,100
Value of net assets at end of year (total assets less liabilities)2023-01-01$167,997,126
Value of net assets at beginning of year (total assets less liabilities)2023-01-01$288,011,226
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2023-01-01No
Were any loans by the plan or fixed income obligations due to the plan in default2023-01-01No
Were any leases to which the plan was party in default or uncollectible2023-01-01No
Value of interest in registered invesment companies (eg mutual funds) at end of year2023-01-01$3,968,822
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2023-01-01No
Was there a failure to transmit to the plan any participant contributions2023-01-01No
Has the plan failed to provide any benefit when due under the plan2023-01-01No
Assets. Invements in employer securities at end of year2023-01-01$187,413,798
Assets. Invements in employer securities at beginning of year2023-01-01$311,691,900
Contributions received in cash from employer2023-01-01$7,692,856
Employer contributions (assets) at end of year2023-01-01$163,351
Employer contributions (assets) at beginning of year2023-01-01$123,054
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2023-01-01$147,125,163
Liabilities. Value of benefit claims payable at end of year2023-01-01$14,047
Liabilities. Value of benefit claims payable at beginning of year2023-01-01$14,047
Did the plan have assets held for investment2023-01-01Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2023-01-01No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2023-01-01No
Opinion of an independent qualified public accountant for this plan2023-01-011
Accountancy firm name2023-01-01CBIZ CPAS P.C.
Accountancy firm EIN2023-01-01431947695

Form 5500 Responses for ABT ASSOCIATES INC. EMPLOYEES STOCK OWNERSHIP PLAN

2023: ABT ASSOCIATES INC. EMPLOYEES STOCK OWNERSHIP PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
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

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