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MOMENTUM INSURANCE 401(K) PLAN 401k Plan overview

Plan NameMOMENTUM INSURANCE 401(K) PLAN
Plan identification number 001

MOMENTUM 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.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • 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

MOMENTUM INSURANCE AND FINANCIAL SERVICES has sponsored the creation of one or more 401k plans.

Company Name:MOMENTUM INSURANCE AND FINANCIAL SERVICES
Employer identification number (EIN):061767610
NAIC Classification:524210
NAIC Description:Insurance Agencies and Brokerages

Form 5500 Filing Information

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

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012021-01-01
0012020-01-01
0012019-01-01
0012018-01-01JON PARKER
0012017-01-01JON PARKER
0012016-01-01LOUIS EDEIKEN

Plan Statistics for MOMENTUM INSURANCE 401(K) PLAN

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

Measure Date Value
2022: MOMENTUM INSURANCE 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-0112
Total number of active participants reported on line 7a of the Form 55002022-01-0110
Number of other retired or separated participants entitled to future benefits2022-01-012
Total of all active and inactive participants2022-01-0112
Total participants2022-01-0112
Number of participants with account balances2022-01-013
2021: MOMENTUM INSURANCE 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-0113
Total number of active participants reported on line 7a of the Form 55002021-01-018
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-014
Total of all active and inactive participants2021-01-0112
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-0112
Number of participants with account balances2021-01-015
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010
2020: MOMENTUM INSURANCE 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-0116
Total number of active participants reported on line 7a of the Form 55002020-01-0110
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-013
Total of all active and inactive participants2020-01-0113
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-0113
Number of participants with account balances2020-01-016
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: MOMENTUM INSURANCE 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-0115
Total number of active participants reported on line 7a of the Form 55002019-01-0113
Number of retired or separated participants receiving benefits2019-01-011
Number of other retired or separated participants entitled to future benefits2019-01-012
Total of all active and inactive participants2019-01-0116
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-0116
Number of participants with account balances2019-01-017
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: MOMENTUM INSURANCE 401(K) PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-0112
Total number of active participants reported on line 7a of the Form 55002018-01-0110
Number of retired or separated participants receiving benefits2018-01-011
Number of other retired or separated participants entitled to future benefits2018-01-012
Total of all active and inactive participants2018-01-0113
Total participants2018-01-0113
Number of participants with account balances2018-01-017
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010
2017: MOMENTUM INSURANCE 401(K) PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-0111
Total number of active participants reported on line 7a of the Form 55002017-01-018
Number of retired or separated participants receiving benefits2017-01-010
Number of other retired or separated participants entitled to future benefits2017-01-011
Total of all active and inactive participants2017-01-019
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-019
Number of participants with account balances2017-01-018
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-010
2016: MOMENTUM INSURANCE 401(K) PLAN 2016 401k membership
Total participants, beginning-of-year2016-01-018
Total number of active participants reported on line 7a of the Form 55002016-01-019
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-012
Total of all active and inactive participants2016-01-0111
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-0111
Number of participants with account balances2016-01-018

Financial Data on MOMENTUM INSURANCE 401(K) PLAN

Measure Date Value
2022 : MOMENTUM INSURANCE 401(K) PLAN 2022 401k financial data
Transfers to/from the plan2022-12-31$0
Total plan liabilities at end of year2022-12-31$0
Total plan liabilities at beginning of year2022-12-31$0
Total income from all sources2022-12-31$-7,402
Expenses. Total of all expenses incurred2022-12-31$3,000
Benefits paid (including direct rollovers)2022-12-31$3,000
Total plan assets at end of year2022-12-31$18,393
Total plan assets at beginning of year2022-12-31$28,795
Value of fidelity bond covering the plan2022-12-31$100,000
Total contributions received or receivable from participants2022-12-31$780
Expenses. Other expenses not covered elsewhere2022-12-31$0
Contributions received from other sources (not participants or employers)2022-12-31$0
Other income received2022-12-31$-8,182
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$-10,402
Net plan assets at end of year (total assets less liabilities)2022-12-31$18,393
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$28,795
Total contributions received or receivable from employer(s)2022-12-31$0
Value of certain deemed distributions of participant loans2022-12-31$0
Value of corrective distributions2022-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$0
2021 : MOMENTUM INSURANCE 401(K) PLAN 2021 401k financial data
Transfers to/from the plan2021-12-31$0
Total plan liabilities at end of year2021-12-31$0
Total plan liabilities at beginning of year2021-12-31$0
Total income from all sources2021-12-31$4,544
Expenses. Total of all expenses incurred2021-12-31$0
Benefits paid (including direct rollovers)2021-12-31$0
Total plan assets at end of year2021-12-31$28,795
Total plan assets at beginning of year2021-12-31$24,251
Value of fidelity bond covering the plan2021-12-31$10,000
Total contributions received or receivable from participants2021-12-31$1,323
Expenses. Other expenses not covered elsewhere2021-12-31$0
Contributions received from other sources (not participants or employers)2021-12-31$0
Other income received2021-12-31$3,221
Noncash contributions received2021-12-31$0
Net income (gross income less expenses)2021-12-31$4,544
Net plan assets at end of year (total assets less liabilities)2021-12-31$28,795
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$24,251
Total contributions received or receivable from employer(s)2021-12-31$0
Value of certain deemed distributions of participant loans2021-12-31$0
Value of corrective distributions2021-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$0
2020 : MOMENTUM INSURANCE 401(K) PLAN 2020 401k financial data
Transfers to/from the plan2020-12-31$0
Total plan liabilities at end of year2020-12-31$0
Total plan liabilities at beginning of year2020-12-31$0
Total income from all sources2020-12-31$7,526
Expenses. Total of all expenses incurred2020-12-31$61
Benefits paid (including direct rollovers)2020-12-31$61
Total plan assets at end of year2020-12-31$24,251
Total plan assets at beginning of year2020-12-31$16,786
Value of fidelity bond covering the plan2020-12-31$10,000
Total contributions received or receivable from participants2020-12-31$4,614
Expenses. Other expenses not covered elsewhere2020-12-31$0
Contributions received from other sources (not participants or employers)2020-12-31$0
Other income received2020-12-31$2,912
Noncash contributions received2020-12-31$0
Net income (gross income less expenses)2020-12-31$7,465
Net plan assets at end of year (total assets less liabilities)2020-12-31$24,251
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$16,786
Total contributions received or receivable from employer(s)2020-12-31$0
Value of certain deemed distributions of participant loans2020-12-31$0
Value of corrective distributions2020-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$0
2019 : MOMENTUM INSURANCE 401(K) PLAN 2019 401k financial data
Total plan liabilities at end of year2019-12-31$0
Total plan liabilities at beginning of year2019-12-31$0
Total income from all sources2019-12-31$6,332
Expenses. Total of all expenses incurred2019-12-31$0
Benefits paid (including direct rollovers)2019-12-31$0
Total plan assets at end of year2019-12-31$16,786
Total plan assets at beginning of year2019-12-31$10,454
Value of fidelity bond covering the plan2019-12-31$10,000
Total contributions received or receivable from participants2019-12-31$4,571
Expenses. Other expenses not covered elsewhere2019-12-31$0
Contributions received from other sources (not participants or employers)2019-12-31$0
Other income received2019-12-31$1,761
Noncash contributions received2019-12-31$0
Net income (gross income less expenses)2019-12-31$6,332
Net plan assets at end of year (total assets less liabilities)2019-12-31$16,786
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$10,454
Total contributions received or receivable from employer(s)2019-12-31$0
Value of certain deemed distributions of participant loans2019-12-31$0
Value of corrective distributions2019-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$0
2018 : MOMENTUM INSURANCE 401(K) PLAN 2018 401k financial data
Transfers to/from the plan2018-12-31$0
Total plan liabilities at end of year2018-12-31$0
Total plan liabilities at beginning of year2018-12-31$0
Total income from all sources2018-12-31$3,596
Expenses. Total of all expenses incurred2018-12-31$5,857
Benefits paid (including direct rollovers)2018-12-31$5,857
Total plan assets at end of year2018-12-31$10,454
Total plan assets at beginning of year2018-12-31$12,715
Total contributions received or receivable from participants2018-12-31$4,875
Expenses. Other expenses not covered elsewhere2018-12-31$0
Contributions received from other sources (not participants or employers)2018-12-31$0
Other income received2018-12-31$-1,279
Noncash contributions received2018-12-31$0
Net income (gross income less expenses)2018-12-31$-2,261
Net plan assets at end of year (total assets less liabilities)2018-12-31$10,454
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$12,715
Total contributions received or receivable from employer(s)2018-12-31$0
Value of certain deemed distributions of participant loans2018-12-31$0
Value of corrective distributions2018-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$0
2017 : MOMENTUM INSURANCE 401(K) PLAN 2017 401k financial data
Transfers to/from the plan2017-12-31$0
Total plan liabilities at end of year2017-12-31$0
Total plan liabilities at beginning of year2017-12-31$0
Total income from all sources2017-12-31$9,298
Expenses. Total of all expenses incurred2017-12-31$5,200
Benefits paid (including direct rollovers)2017-12-31$5,200
Total plan assets at end of year2017-12-31$12,715
Total plan assets at beginning of year2017-12-31$8,617
Total contributions received or receivable from participants2017-12-31$7,736
Expenses. Other expenses not covered elsewhere2017-12-31$0
Contributions received from other sources (not participants or employers)2017-12-31$0
Other income received2017-12-31$1,562
Noncash contributions received2017-12-31$0
Net income (gross income less expenses)2017-12-31$4,098
Net plan assets at end of year (total assets less liabilities)2017-12-31$12,715
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$8,617
Total contributions received or receivable from employer(s)2017-12-31$0
Value of certain deemed distributions of participant loans2017-12-31$0
Value of corrective distributions2017-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$0
2016 : MOMENTUM INSURANCE 401(K) PLAN 2016 401k financial data
Total plan liabilities at end of year2016-12-31$0
Total plan liabilities at beginning of year2016-12-31$0
Total income from all sources2016-12-31$8,617
Expenses. Total of all expenses incurred2016-12-31$0
Benefits paid (including direct rollovers)2016-12-31$0
Total plan assets at end of year2016-12-31$8,617
Total plan assets at beginning of year2016-12-31$0
Total contributions received or receivable from participants2016-12-31$8,194
Expenses. Other expenses not covered elsewhere2016-12-31$0
Contributions received from other sources (not participants or employers)2016-12-31$0
Other income received2016-12-31$423
Noncash contributions received2016-12-31$0
Net income (gross income less expenses)2016-12-31$8,617
Net plan assets at end of year (total assets less liabilities)2016-12-31$8,617
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$0
Total contributions received or receivable from employer(s)2016-12-31$0
Value of certain deemed distributions of participant loans2016-12-31$0
Value of corrective distributions2016-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2016-12-31$0

Form 5500 Responses for MOMENTUM INSURANCE 401(K) PLAN

2022: MOMENTUM INSURANCE 401(K) PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: MOMENTUM INSURANCE 401(K) PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: MOMENTUM INSURANCE 401(K) PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: MOMENTUM INSURANCE 401(K) PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: MOMENTUM INSURANCE 401(K) PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: MOMENTUM INSURANCE 401(K) PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: MOMENTUM INSURANCE 401(K) PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01First time form 5500 has been submittedYes
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

AMERITAS LIFE INSURANCE CORP. (National Association of Insurance Commissioners NAIC id number: 61301 )
Policy contract numberE66 8461
Policy instance 1
Insurance contract or identification numberE66 8461
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $113
Commission paid to Insurance BrokerUSD $113
Insurance broker organization code?4
AMERITAS LIFE INSURANCE CORP. (National Association of Insurance Commissioners NAIC id number: 61301 )
Policy contract numberE66 8461
Policy instance 1
Insurance contract or identification numberE66 8461
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $134
Total amount of fees paid to insurance companyUSD $0
Commission paid to Insurance BrokerUSD $134
Amount paid for insurance broker fees0
Insurance broker organization code?4
AMERITAS LIFE INSURANCE CORP. (National Association of Insurance Commissioners NAIC id number: 61301 )
Policy contract numberE66 8461
Policy instance 1
Insurance contract or identification numberE66 8461
Insurance policy start date2020-01-01
Insurance policy end date2020-12-31
Total amount of commissions paid to insurance brokerUSD $89
Commission paid to Insurance BrokerUSD $89
Insurance broker organization code?4
AMERITAS LIFE INSURANCE CORP. (National Association of Insurance Commissioners NAIC id number: 61301 )
Policy contract numberE66 8461
Policy instance 1
Insurance contract or identification numberE66 8461
Number of Individuals Covered7
Insurance policy start date2019-01-01
Insurance policy end date2019-12-31
Total amount of commissions paid to insurance brokerUSD $64
Commission paid to Insurance BrokerUSD $64
Insurance broker organization code?4
AMERITAS LIFE INSURANCE CORP. (National Association of Insurance Commissioners NAIC id number: 61301 )
Policy contract numberE66 8461
Policy instance 1
Insurance contract or identification numberE66 8461
Number of Individuals Covered10
Total amount of commissions paid to insurance brokerUSD $29
Commission paid to Insurance BrokerUSD $24
Insurance broker organization code?4
Insurance broker nameIMS SECURITIES, INC.

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