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CLARK INSURANCE 401(K) PLAN 401k Plan overview

Plan NameCLARK INSURANCE 401(K) PLAN
Plan identification number 004

CLARK INSURANCE 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.
  • 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

CLARK INSURANCE has sponsored the creation of one or more 401k plans.

Company Name:CLARK INSURANCE
Employer identification number (EIN):010046400
NAIC Classification:524210
NAIC Description:Insurance Agencies and Brokerages

Additional information about CLARK INSURANCE

Jurisdiction of Incorporation: Texas Secretary of State
Incorporation Date: 2007-10-01
Company Identification Number: 0800878850
Legal Registered Office Address: 1166 AVENUE OF THE AMERICAS FL 36

NEW YORK
United States of America (USA)
10036

More information about CLARK INSURANCE

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CLARK INSURANCE 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0042019-01-01
0042018-01-01JEFFREY A. LIND2019-07-10
0042017-01-01JEFFREY A. LIND2018-07-06
0042016-01-01
0042015-01-01
0042014-01-01KENNETH ROSS2015-10-12
0042013-01-01KENNETH A ROSS2014-10-13
0042012-01-01KENNETH A. ROSS2013-05-22 KENNETH A, ROSS2013-05-22
0042011-01-01KENNETH A. ROSS2012-06-29 KENNETH A. ROSS2012-06-29
0042010-01-01KENNETH A. ROSS2011-05-16

Plan Statistics for CLARK INSURANCE 401(K) PLAN

401k plan membership statisitcs for CLARK INSURANCE 401(K) PLAN

Measure Date Value
2019: CLARK INSURANCE 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-01126
Total number of active participants reported on line 7a of the Form 55002019-01-010
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-010
Total of all active and inactive participants2019-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-010
Number of participants with account balances2019-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010

Financial Data on CLARK INSURANCE 401(K) PLAN

Measure Date Value
2019 : CLARK INSURANCE 401(K) PLAN 2019 401k financial data
Total unrealized appreciation/depreciation of assets2019-12-31$0
Total unrealized appreciation/depreciation of assets2019-12-31$0
Total transfer of assets from this plan2019-12-31$10,348,226
Total transfer of assets from this plan2019-12-31$10,348,226
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$0
Total income from all sources (including contributions)2019-12-31$3,033,433
Total income from all sources (including contributions)2019-12-31$3,033,433
Total loss/gain on sale of assets2019-12-31$0
Total loss/gain on sale of assets2019-12-31$0
Total of all expenses incurred2019-12-31$792,371
Total of all expenses incurred2019-12-31$792,371
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-12-31$775,453
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-12-31$775,453
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-12-31$1,286,820
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-12-31$1,286,820
Value of total assets at end of year2019-12-31$0
Value of total assets at end of year2019-12-31$0
Value of total assets at beginning of year2019-12-31$8,107,164
Value of total assets at beginning of year2019-12-31$8,107,164
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-12-31$16,918
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-12-31$16,918
Total interest from all sources2019-12-31$4,815
Total interest from all sources2019-12-31$4,815
Total dividends received (eg from common stock, registered investment company shares)2019-12-31$376,764
Total dividends received (eg from common stock, registered investment company shares)2019-12-31$376,764
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-12-31No
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2019-12-31$376,764
Total dividends received from registered investment company shares (eg mutual funds)2019-12-31$376,764
Administrative expenses professional fees incurred2019-12-31$16,918
Administrative expenses professional fees incurred2019-12-31$16,918
Was this plan covered by a fidelity bond2019-12-31Yes
Was this plan covered by a fidelity bond2019-12-31Yes
Value of fidelity bond cover2019-12-31$500,000
Value of fidelity bond cover2019-12-31$500,000
If this is an individual account plan, was there a blackout period2019-12-31No
If this is an individual account plan, was there a blackout period2019-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
Were there any nonexempt tranactions with any party-in-interest2019-12-31No
Were there any nonexempt tranactions with any party-in-interest2019-12-31No
Contributions received from participants2019-12-31$781,909
Contributions received from participants2019-12-31$781,909
Participant contributions at end of year2019-12-31$0
Participant contributions at end of year2019-12-31$0
Participant contributions at beginning of year2019-12-31$59,508
Participant contributions at beginning of year2019-12-31$59,508
Income. Received or receivable in cash from other sources (including rollovers)2019-12-31$264,092
Income. Received or receivable in cash from other sources (including rollovers)2019-12-31$264,092
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Value of net income/loss2019-12-31$2,241,062
Value of net income/loss2019-12-31$2,241,062
Value of net assets at end of year (total assets less liabilities)2019-12-31$0
Value of net assets at end of year (total assets less liabilities)2019-12-31$0
Value of net assets at beginning of year (total assets less liabilities)2019-12-31$8,107,164
Value of net assets at beginning of year (total assets less liabilities)2019-12-31$8,107,164
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-12-31No
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2019-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2019-12-31No
Were any leases to which the plan was party in default or uncollectible2019-12-31No
Were any leases to which the plan was party in default or uncollectible2019-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2019-12-31$0
Value of interest in registered invesment companies (eg mutual funds) at end of year2019-12-31$0
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2019-12-31$7,899,661
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2019-12-31$7,899,661
Interest on participant loans2019-12-31$4,815
Interest on participant loans2019-12-31$4,815
Value of interest in common/collective trusts at end of year2019-12-31$0
Value of interest in common/collective trusts at end of year2019-12-31$0
Value of interest in common/collective trusts at beginning of year2019-12-31$127,500
Value of interest in common/collective trusts at beginning of year2019-12-31$127,500
Net investment gain/loss from registered investment companies (e.g. mutual funds)2019-12-31$1,359,155
Net investment gain/loss from registered investment companies (e.g. mutual funds)2019-12-31$1,359,155
Net investment gain or loss from common/collective trusts2019-12-31$5,879
Net investment gain or loss from common/collective trusts2019-12-31$5,879
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-12-31No
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-12-31No
Was there a failure to transmit to the plan any participant contributions2019-12-31No
Was there a failure to transmit to the plan any participant contributions2019-12-31No
Has the plan failed to provide any benefit when due under the plan2019-12-31No
Has the plan failed to provide any benefit when due under the plan2019-12-31No
Contributions received in cash from employer2019-12-31$240,819
Contributions received in cash from employer2019-12-31$240,819
Employer contributions (assets) at end of year2019-12-31$0
Employer contributions (assets) at end of year2019-12-31$0
Employer contributions (assets) at beginning of year2019-12-31$20,495
Employer contributions (assets) at beginning of year2019-12-31$20,495
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-12-31$775,453
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-12-31$775,453
Did the plan have assets held for investment2019-12-31No
Did the plan have assets held for investment2019-12-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-12-31Yes
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-12-31Yes
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2019-12-31Yes
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2019-12-31Yes
Opinion of an independent qualified public accountant for this plan2019-12-31Disclaimer
Opinion of an independent qualified public accountant for this plan2019-12-31Disclaimer
Accountancy firm name2019-12-31BERRY, DUNN, MCNEIL & PARKER, LLC
Accountancy firm name2019-12-31BERRY, DUNN, MCNEIL & PARKER, LLC
Accountancy firm EIN2019-12-31010523282
Accountancy firm EIN2019-12-31010523282

Form 5500 Responses for CLARK INSURANCE 401(K) PLAN

2019: CLARK INSURANCE 401(K) 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 filingYes
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

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