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401k Plan overview

Plan NameABLE ENGINEERING & COMPONENT SERVICES, INC. 401(K) PROFIT SHARING PLAN
Plan identification number 300

ABLE ENGINEERING & COMPONENT SERVICES, INC. 401(K) PROFIT SHARING PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • 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.
  • 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

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

Company Name:TEXTRON INC
Employer identification number (EIN):050315468
NAIC Classification:339900

Additional information about TEXTRON INC

Jurisdiction of Incorporation: State of Delaware Division of Corporations
Incorporation Date:
Company Identification Number: 0660813

More information about TEXTRON INC

Form 5500 Filing Information

Submission information for form 5500 for 401k plan ABLE ENGINEERING & COMPONENT SERVICES, INC. 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
3002016-01-01JON LABATE JON LABATE2017-07-13

Plan Statistics for ABLE ENGINEERING & COMPONENT SERVICES, INC. 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for ABLE ENGINEERING & COMPONENT SERVICES, INC. 401(K) PROFIT SHARING PLAN

Measure Date Value
2016
Total participants, beginning-of-year2016-01-01549
Total number of active participants reported on line 7a of the Form 55002016-01-010
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-010
Total of all active and inactive participants2016-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-010
Number of participants with account balances2016-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-010

Financial Data on ABLE ENGINEERING & COMPONENT SERVICES, INC. 401(K) PROFIT SHARING PLAN

Measure Date Value
2016
Total unrealized appreciation/depreciation of assets2016-09-01$0
Total transfer of assets from this plan2016-09-01$11,119,891
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-09-01$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-09-01$0
Total income from all sources (including contributions)2016-09-01$2,159,535
Total loss/gain on sale of assets2016-09-01$0
Total of all expenses incurred2016-09-01$682,398
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2016-09-01$617,441
Total contributions o plan (from employers,participants, others, non cash contrinutions)2016-09-01$1,403,868
Value of total assets at end of year2016-09-01$0
Value of total assets at beginning of year2016-09-01$9,642,754
Total of administrative expenses incurred including professional, contract, advisory and management fees2016-09-01$64,957
Total interest from all sources2016-09-01$12,042
Total dividends received (eg from common stock, registered investment company shares)2016-09-01$15,846
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2016-09-01Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2016-09-01$0
Total dividends received from registered investment company shares (eg mutual funds)2016-09-01$15,846
Was this plan covered by a fidelity bond2016-09-01Yes
Value of fidelity bond cover2016-09-01$500,000
If this is an individual account plan, was there a blackout period2016-09-01No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2016-09-01$0
Were there any nonexempt tranactions with any party-in-interest2016-09-01No
Contributions received from participants2016-09-01$816,636
Participant contributions at end of year2016-09-01$0
Participant contributions at beginning of year2016-09-01$436,241
Income. Received or receivable in cash from other sources (including rollovers)2016-09-01$69,811
Other income not declared elsewhere2016-09-01$301
Administrative expenses (other) incurred2016-09-01$64,957
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2016-09-01No
Value of net income/loss2016-09-01$1,477,137
Value of net assets at end of year (total assets less liabilities)2016-09-01$0
Value of net assets at beginning of year (total assets less liabilities)2016-09-01$9,642,754
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2016-09-01No
Were any loans by the plan or fixed income obligations due to the plan in default2016-09-01No
Were any leases to which the plan was party in default or uncollectible2016-09-01No
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2016-09-01$9,135,022
Interest on participant loans2016-09-01$12,042
Value of interest in common/collective trusts at end of year2016-09-01$0
Value of interest in common/collective trusts at beginning of year2016-09-01$71,491
Net investment gain/loss from registered investment companies (e.g. mutual funds)2016-09-01$726,208
Net investment gain or loss from common/collective trusts2016-09-01$1,270
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2016-09-01No
Was there a failure to transmit to the plan any participant contributions2016-09-01No
Has the plan failed to provide any benefit when due under the plan2016-09-01No
Contributions received in cash from employer2016-09-01$517,421
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2016-09-01$617,441
Did the plan have assets held for investment2016-09-01No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2016-09-01No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2016-09-01Yes
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2016-09-01Yes
Opinion of an independent qualified public accountant for this plan2016-09-01Disclaimer
Accountancy firm name2016-09-01ERNST & YOUNG
Accountancy firm EIN2016-09-01346565596
Total unrealized appreciation/depreciation of assets2016-08-31$0
Total transfer of assets from this plan2016-08-31$11,119,891
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-08-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-08-31$0
Total income from all sources (including contributions)2016-08-31$2,159,535
Total loss/gain on sale of assets2016-08-31$0
Total of all expenses incurred2016-08-31$682,398
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2016-08-31$617,441
Total contributions o plan (from employers,participants, others, non cash contrinutions)2016-08-31$1,403,868
Value of total assets at end of year2016-08-31$0
Value of total assets at beginning of year2016-08-31$9,642,754
Total of administrative expenses incurred including professional, contract, advisory and management fees2016-08-31$64,957
Total interest from all sources2016-08-31$12,042
Total dividends received (eg from common stock, registered investment company shares)2016-08-31$15,846
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2016-08-31Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2016-08-31$0
Total dividends received from registered investment company shares (eg mutual funds)2016-08-31$15,846
Was this plan covered by a fidelity bond2016-08-31Yes
Value of fidelity bond cover2016-08-31$500,000
If this is an individual account plan, was there a blackout period2016-08-31No
Were there any nonexempt tranactions with any party-in-interest2016-08-31No
Contributions received from participants2016-08-31$816,636
Participant contributions at end of year2016-08-31$0
Participant contributions at beginning of year2016-08-31$436,241
Income. Received or receivable in cash from other sources (including rollovers)2016-08-31$69,811
Other income not declared elsewhere2016-08-31$301
Administrative expenses (other) incurred2016-08-31$64,957
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2016-08-31No
Value of net income/loss2016-08-31$1,477,137
Value of net assets at end of year (total assets less liabilities)2016-08-31$0
Value of net assets at beginning of year (total assets less liabilities)2016-08-31$9,642,754
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2016-08-31No
Were any loans by the plan or fixed income obligations due to the plan in default2016-08-31No
Were any leases to which the plan was party in default or uncollectible2016-08-31No
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2016-08-31$9,135,022
Interest on participant loans2016-08-31$12,042
Value of interest in common/collective trusts at end of year2016-08-31$0
Value of interest in common/collective trusts at beginning of year2016-08-31$71,491
Net investment gain/loss from registered investment companies (e.g. mutual funds)2016-08-31$726,208
Net investment gain or loss from common/collective trusts2016-08-31$1,270
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2016-08-31No
Was there a failure to transmit to the plan any participant contributions2016-08-31No
Has the plan failed to provide any benefit when due under the plan2016-08-31No
Contributions received in cash from employer2016-08-31$517,421
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2016-08-31$617,441
Did the plan have assets held for investment2016-08-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2016-08-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2016-08-31Yes
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2016-08-31Yes
Opinion of an independent qualified public accountant for this plan2016-08-31Disclaimer
Accountancy firm name2016-08-31ERNST & YOUNG
Accountancy firm EIN2016-08-31346565596

Form 5500 Responses

2016
2016-01-01Type of plan entitySingle employer plan
2016-01-01Submission has been amendedYes
2016-01-01This submission is the final filingYes
2016-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes

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