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PHILLIPS MACHINE & WELDING CO., INC. 401(K) PLAN 401k Plan overview

Plan NamePHILLIPS MACHINE & WELDING CO., INC. 401(K) PLAN
Plan identification number 001

PHILLIPS MACHINE & WELDING CO., 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.
  • Plan covering Self-Employed individuals.
  • 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

PHILLIPS MACHINE & WELDING CO., INC. has sponsored the creation of one or more 401k plans.

Company Name:PHILLIPS MACHINE & WELDING CO., INC.
Employer identification number (EIN):952827907
NAIC Classification:333510

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PHILLIPS MACHINE & WELDING CO., INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01DONALD MCKENNA, JR.2024-05-02
0012022-01-01DONALD MCKENNA, JR.2024-04-17
0012021-01-01MELISSA YSALGUE2022-10-17 MELISSA YSALGUE2022-10-17
0012021-01-01MELISSA YSALGUE2022-10-17 MELISSA YSALGUE2022-10-17
0012020-01-01DONALD MCKENNA2021-10-12 DONALD MCKENNA2021-10-12
0012019-01-01DONALD MCKENNA2020-10-15 DONALD MCKENNA2020-10-15
0012018-01-01DONALD MCKENNA2019-10-15 DONALD MCKENNA2019-10-15
0012017-01-01DONALD MCKENNA2018-10-11 DONALD MCKENNA2018-10-11
0012016-01-01DON MCKENNA2017-08-14
0012015-01-01DON MCKENNA2016-09-14
0012014-01-01DON MCKENNA2015-09-21
0012013-01-01DON MCKENNA2014-10-09
0012012-01-01DON MCKENNA2013-10-07
0012011-01-01DONALD MCKENNA

Plan Statistics for PHILLIPS MACHINE & WELDING CO., INC. 401(K) PLAN

401k plan membership statisitcs for PHILLIPS MACHINE & WELDING CO., INC. 401(K) PLAN

Measure Date Value
2025: PHILLIPS MACHINE & WELDING CO., INC. 401(K) PLAN 2025 401k membership
Total number of particpants at beginning of year2025-10-1418
Total number of particpants at end of year2025-10-1415
Number of Participants With Account Balances2025-10-1413
2024: PHILLIPS MACHINE & WELDING CO., INC. 401(K) PLAN 2024 401k membership
Total number of particpants at beginning of year2024-05-0219
Total number of particpants at end of year2024-05-0217
Number of Participants With Account Balances2024-05-0213
2011: PHILLIPS MACHINE & WELDING CO., INC. 401(K) PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-0131
Total number of active participants reported on line 7a of the Form 55002011-01-0114
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-0116
Total of all active and inactive participants2011-01-0130
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-0130
Number of participants with account balances2011-01-0125
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-010

Financial Data on PHILLIPS MACHINE & WELDING CO., INC. 401(K) PLAN

Measure Date Value
2025 : PHILLIPS MACHINE & WELDING CO., INC. 401(K) PLAN 2025 401k financial data
Total liabilities as of the beginning of the plan year2025-10-140
Total expenses incurred by plan in this plan year2025-10-1474061
Net assets as of the end of the plan year2025-10-141524903
Total assets as of the beginning of the plan year2025-10-141234707
Participant contributions to plan in this plan year2025-10-1417155
Other income to plan in this plan year2025-10-14314259
Plan net income in this plan year2025-10-14290196
Net assets as of the end of the plan year2025-10-141524903
Net assets as of the beginning of the plan year2025-10-141234707
Employer contributions to plan in this plan year2025-10-1432843
Fees paid to broker by Benefit Provider2025-10-145568
Expensese paid to adminstrative service provicers from plan in this plan year2025-10-142025
2024 : PHILLIPS MACHINE & WELDING CO., INC. 401(K) PLAN 2024 401k financial data
Total liabilities as of the end of the plan year2024-05-020
Total liabilities as of the beginning of the plan year2024-05-020
Total expenses incurred by plan in this plan year2024-05-02220100
Net assets as of the end of the plan year2024-05-021234707
Total assets as of the beginning of the plan year2024-05-021150195
Participant contributions to plan in this plan year2024-05-0238383
Other expenses paid from plan in this plan year2024-05-020
Other contributions to plan in this plan year2024-05-020
Other income to plan in this plan year2024-05-02261876
Plan net income in this plan year2024-05-0284512
Net assets as of the end of the plan year2024-05-021234707
Net assets as of the beginning of the plan year2024-05-021150195
Employer contributions to plan in this plan year2024-05-024353
Fees paid to broker by Benefit Provider2024-05-024438
Expensese paid to adminstrative service provicers from plan in this plan year2024-05-02100
2011 : PHILLIPS MACHINE & WELDING CO., INC. 401(K) PLAN 2011 401k financial data
Total income from all sources2011-12-31$13,483
Expenses. Total of all expenses incurred2011-12-31$0
Benefits paid (including direct rollovers)2011-12-31$0
Total plan assets at end of year2011-12-31$320,446
Total plan assets at beginning of year2011-12-31$306,963
Total contributions received or receivable from participants2011-12-31$23,157
Contributions received from other sources (not participants or employers)2011-12-31$0
Other income received2011-12-31$-15,711
Net income (gross income less expenses)2011-12-31$13,483
Net plan assets at end of year (total assets less liabilities)2011-12-31$320,446
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$306,963
Total contributions received or receivable from employer(s)2011-12-31$6,037
Value of certain deemed distributions of participant loans2011-12-31$0
Value of corrective distributions2011-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2011-12-31$0
2010 : PHILLIPS MACHINE & WELDING CO., INC. 401(K) PLAN 2010 401k financial data
Total income from all sources2010-12-31$40,340
Expenses. Total of all expenses incurred2010-12-31$96,342
Benefits paid (including direct rollovers)2010-12-31$96,342
Total plan assets at end of year2010-12-31$306,963
Total plan assets at beginning of year2010-12-31$362,965
Total contributions received or receivable from participants2010-12-31$7,410
Contributions received from other sources (not participants or employers)2010-12-31$0
Other income received2010-12-31$28,931
Net income (gross income less expenses)2010-12-31$-56,002
Net plan assets at end of year (total assets less liabilities)2010-12-31$306,963
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$362,965
Total contributions received or receivable from employer(s)2010-12-31$3,999
Value of certain deemed distributions of participant loans2010-12-31$0
Value of corrective distributions2010-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-31$0

Form 5500 Responses for PHILLIPS MACHINE & WELDING CO., INC. 401(K) PLAN

2011: PHILLIPS MACHINE & WELDING CO., INC. 401(K) PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedNo
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – InsuranceYes
2011-01-01Plan benefit arrangement – InsuranceYes

Insurance Providers Used on plan

METLIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 87726 )
Policy contract number932219
Policy instance 1
METLIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 87726 )
Policy contract number932219
Policy instance 1

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