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PORTLAND AIR FREIGHT, INC. RETIREMENT SAVINGS PLAN 401k Plan overview

Plan NamePORTLAND AIR FREIGHT, INC. RETIREMENT SAVINGS PLAN
Plan identification number 001

PORTLAND AIR FREIGHT, INC. RETIREMENT SAVINGS 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.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • 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

PORTLAND AIR FREIGHT, INC. has sponsored the creation of one or more 401k plans.

Company Name:PORTLAND AIR FREIGHT, INC.
Employer identification number (EIN):010384794
NAIC Classification:484120
NAIC Description: General Freight Trucking, Long-Distance

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PORTLAND AIR FREIGHT, INC. RETIREMENT SAVINGS PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01ALAN REED2023-10-11 ALAN REED2023-10-11
0012021-01-01ALAN REED2022-10-05 ALAN REED2022-10-05
0012020-01-01ALAN REED2021-10-12 ALAN REED2021-10-12
0012019-01-01
0012018-01-01
0012017-01-01
0012016-01-01
0012015-01-01
0012014-01-01
0012013-01-01
0012012-01-01ALAN REED2013-03-22 ALAN REED2013-03-22
0012011-01-01ALAN REED2012-04-23 ALAN REED2012-04-23
0012010-01-01ALAN REED2011-03-31 ALAN REED2011-03-31

Plan Statistics for PORTLAND AIR FREIGHT, INC. RETIREMENT SAVINGS PLAN

401k plan membership statisitcs for PORTLAND AIR FREIGHT, INC. RETIREMENT SAVINGS PLAN

Measure Date Value
2022: PORTLAND AIR FREIGHT, INC. RETIREMENT SAVINGS PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01156
Total number of active participants reported on line 7a of the Form 55002022-01-01101
Number of retired or separated participants receiving benefits2022-01-013
Number of other retired or separated participants entitled to future benefits2022-01-0128
Total of all active and inactive participants2022-01-01132
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01132
Number of participants with account balances2022-01-01125
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-0124
2021: PORTLAND AIR FREIGHT, INC. RETIREMENT SAVINGS PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-01145
Total number of active participants reported on line 7a of the Form 55002021-01-01112
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-0150
Total of all active and inactive participants2021-01-01162
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-011
Total participants2021-01-01163
Number of participants with account balances2021-01-01153
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-0123
2020: PORTLAND AIR FREIGHT, INC. RETIREMENT SAVINGS PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-01121
Total number of active participants reported on line 7a of the Form 55002020-01-01110
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-017
Total of all active and inactive participants2020-01-01117
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-01117
Number of participants with account balances2020-01-0197
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-0122

Financial Data on PORTLAND AIR FREIGHT, INC. RETIREMENT SAVINGS PLAN

Measure Date Value
2022 : PORTLAND AIR FREIGHT, INC. RETIREMENT SAVINGS PLAN 2022 401k financial data
Total income from all sources (including contributions)2022-12-31$-292,951
Total of all expenses incurred2022-12-31$245,715
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$199,605
Expenses. Certain deemed distributions of participant loans2022-12-31$14,742
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$501,487
Value of total assets at end of year2022-12-31$3,707,132
Value of total assets at beginning of year2022-12-31$4,245,798
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$31,368
Total interest from all sources2022-12-31$2,972
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Administrative expenses professional fees incurred2022-12-31$2,450
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$500,000
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$399,951
Participant contributions at end of year2022-12-31$53,726
Participant contributions at beginning of year2022-12-31$72,678
Participant contributions at end of year2022-12-31$0
Participant contributions at beginning of year2022-12-31$5,895
Administrative expenses (other) incurred2022-12-31$0
Total non interest bearing cash at end of year2022-12-31$8,511
Total non interest bearing cash at beginning of year2022-12-31$4,669
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-538,666
Value of net assets at end of year (total assets less liabilities)2022-12-31$3,707,132
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$4,245,798
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Investment advisory and management fees2022-12-31$9,045
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$4,161,080
Value of interest in pooled separate accounts at end of year2022-12-31$3,644,895
Interest on participant loans2022-12-31$2,972
Net investment gain/loss from pooled separate accounts2022-12-31$-797,410
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$101,536
Employer contributions (assets) at end of year2022-12-31$0
Employer contributions (assets) at beginning of year2022-12-31$1,476
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$199,605
Contract administrator fees2022-12-31$19,873
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31ALBIN, RANDALL & BENNETT
Accountancy firm EIN2022-12-31010448006
2021 : PORTLAND AIR FREIGHT, INC. RETIREMENT SAVINGS PLAN 2021 401k financial data
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$69
Total income from all sources (including contributions)2021-12-31$969,308
Total of all expenses incurred2021-12-31$79,385
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$47,729
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$428,912
Value of total assets at end of year2021-12-31$4,245,798
Value of total assets at beginning of year2021-12-31$3,355,944
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$31,656
Total interest from all sources2021-12-31$3,085
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$424,580
If this is an individual account plan, was there a blackout period2021-12-31No
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Contributions received from participants2021-12-31$337,462
Participant contributions at end of year2021-12-31$72,678
Participant contributions at beginning of year2021-12-31$52,408
Participant contributions at end of year2021-12-31$5,895
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2021-12-31$69
Administrative expenses (other) incurred2021-12-31$2,334
Total non interest bearing cash at end of year2021-12-31$4,669
Total non interest bearing cash at beginning of year2021-12-31$5,257
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$889,923
Value of net assets at end of year (total assets less liabilities)2021-12-31$4,245,798
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$3,355,875
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2021-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2021-12-31No
Were any leases to which the plan was party in default or uncollectible2021-12-31No
Investment advisory and management fees2021-12-31$9,523
Value of interest in registered invesment companies (eg mutual funds) at end of year2021-12-31$4,161,080
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-12-31$3,298,279
Interest on participant loans2021-12-31$3,085
Net investment gain or loss from common/collective trusts2021-12-31$537,311
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-12-31No
Was there a failure to transmit to the plan any participant contributions2021-12-31No
Has the plan failed to provide any benefit when due under the plan2021-12-31No
Contributions received in cash from employer2021-12-31$91,450
Employer contributions (assets) at end of year2021-12-31$1,476
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$47,729
Contract administrator fees2021-12-31$19,799
Did the plan have assets held for investment2021-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2021-12-31No
Opinion of an independent qualified public accountant for this plan2021-12-31Unqualified
Accountancy firm name2021-12-31ALBIN, RANDALL & BENNETT
Accountancy firm EIN2021-12-31010448006
2020 : PORTLAND AIR FREIGHT, INC. RETIREMENT SAVINGS PLAN 2020 401k financial data
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$69
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$3,905
Total income from all sources (including contributions)2020-12-31$854,787
Total of all expenses incurred2020-12-31$1,003,951
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-12-31$979,620
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-12-31$316,747
Value of total assets at end of year2020-12-31$3,355,944
Value of total assets at beginning of year2020-12-31$3,508,944
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-12-31$24,331
Total interest from all sources2020-12-31$1,392
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-12-31No
Was this plan covered by a fidelity bond2020-12-31Yes
Value of fidelity bond cover2020-12-31$335,587
If this is an individual account plan, was there a blackout period2020-12-31No
Were there any nonexempt tranactions with any party-in-interest2020-12-31No
Contributions received from participants2020-12-31$253,397
Participant contributions at end of year2020-12-31$52,408
Participant contributions at beginning of year2020-12-31$17,548
Participant contributions at beginning of year2020-12-31$970
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2020-12-31$69
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2020-12-31$3,905
Administrative expenses (other) incurred2020-12-31$2,575
Total non interest bearing cash at end of year2020-12-31$5,257
Total non interest bearing cash at beginning of year2020-12-31$3,905
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Value of net income/loss2020-12-31$-149,164
Value of net assets at end of year (total assets less liabilities)2020-12-31$3,355,875
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$3,505,039
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2020-12-31No
Were any leases to which the plan was party in default or uncollectible2020-12-31No
Investment advisory and management fees2020-12-31$6,918
Value of interest in registered invesment companies (eg mutual funds) at end of year2020-12-31$3,298,279
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2020-12-31$3,486,292
Interest on participant loans2020-12-31$1,392
Net investment gain/loss from pooled separate accounts2020-12-31$536,648
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-12-31No
Was there a failure to transmit to the plan any participant contributions2020-12-31No
Has the plan failed to provide any benefit when due under the plan2020-12-31No
Contributions received in cash from employer2020-12-31$63,350
Employer contributions (assets) at beginning of year2020-12-31$229
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-12-31$979,620
Contract administrator fees2020-12-31$14,838
Did the plan have assets held for investment2020-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-12-31No
Opinion of an independent qualified public accountant for this plan2020-12-31Disclaimer
Accountancy firm name2020-12-31ALBIN, RANDALL & BENNETT
Accountancy firm EIN2020-12-31010448006

Form 5500 Responses for PORTLAND AIR FREIGHT, INC. RETIREMENT SAVINGS PLAN

2022: PORTLAND AIR FREIGHT, INC. RETIREMENT SAVINGS PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Plan funding arrangement – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement - TrustYes
2021: PORTLAND AIR FREIGHT, INC. RETIREMENT SAVINGS 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 – InsuranceYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement – InsuranceYes
2021-01-01Plan benefit arrangement - TrustYes
2020: PORTLAND AIR FREIGHT, INC. RETIREMENT SAVINGS 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 – InsuranceYes
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement – InsuranceYes
2020-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number65838
Policy instance 1
Insurance contract or identification number65838
Number of Individuals Covered126
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $1,862
Total amount of fees paid to insurance companyUSD $6,309
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Amount paid for insurance broker fees6309
Additional information about fees paid to insurance brokerTPA FEES PAID
Insurance broker organization code?5
Commission paid to Insurance BrokerUSD $1,862
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number65838
Policy instance 1
Insurance contract or identification number65838
Number of Individuals Covered132
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $4,256
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Amount paid for insurance broker fees2334
Additional information about fees paid to insurance brokerTPA FEES PAID
Insurance broker organization code?5
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number65838
Policy instance 1
Insurance contract or identification number65838
Number of Individuals Covered102
Insurance policy start date2020-01-01
Insurance policy end date2020-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $7,884
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Amount paid for insurance broker fees6480
Additional information about fees paid to insurance brokerTPA FEES PAID
Insurance broker organization code?5

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