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ACCUTIME WATCH CORPORATION 401(K) SAVINGS PLAN 401k Plan overview

Plan NameACCUTIME WATCH CORPORATION 401(K) SAVINGS PLAN
Plan identification number 001

ACCUTIME WATCH CORPORATION 401(K) SAVINGS 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.
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

ACCUTIME WATCH CORPORATION has sponsored the creation of one or more 401k plans.

Company Name:ACCUTIME WATCH CORPORATION
Employer identification number (EIN):133157786
NAIC Classification:448310
NAIC Description:Jewelry Stores

Form 5500 Filing Information

Submission information for form 5500 for 401k plan ACCUTIME WATCH CORPORATION 401(K) SAVINGS 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
0012018-01-01LEON SHAMA2019-03-29
0012017-01-01LEON SHAMA2018-02-08
0012016-01-01LEON SHAMA2017-02-17
0012015-01-01LEON SHAMA2016-04-08
0012014-01-01LEON SHAMA2015-02-23
0012013-01-01LEON SHAMA2014-05-05
0012012-01-01LEON SHAMA2013-06-24
0012011-01-01LEON SHAMA2012-10-15
0012010-01-01LEON SHAMA2011-09-12 LEON SHAMA2011-09-12

Plan Statistics for ACCUTIME WATCH CORPORATION 401(K) SAVINGS PLAN

401k plan membership statisitcs for ACCUTIME WATCH CORPORATION 401(K) SAVINGS PLAN

Measure Date Value
2022: ACCUTIME WATCH CORPORATION 401(K) SAVINGS PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-0168
Total number of active participants reported on line 7a of the Form 55002022-01-0171
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-012
Total of all active and inactive participants2022-01-0173
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-0173
Number of participants with account balances2022-01-0151
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: ACCUTIME WATCH CORPORATION 401(K) SAVINGS PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-0173
Total number of active participants reported on line 7a of the Form 55002021-01-0166
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-012
Total of all active and inactive participants2021-01-0168
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-0168
Number of participants with account balances2021-01-0144
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-011
2020: ACCUTIME WATCH CORPORATION 401(K) SAVINGS PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-0180
Total number of active participants reported on line 7a of the Form 55002020-01-0171
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-012
Total of all active and inactive participants2020-01-0173
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-0173
Number of participants with account balances2020-01-0149
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-011
2019: ACCUTIME WATCH CORPORATION 401(K) SAVINGS PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-0181
Total number of active participants reported on line 7a of the Form 55002019-01-0178
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-012
Total of all active and inactive participants2019-01-0180
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-0180
Number of participants with account balances2019-01-0152
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-011

Financial Data on ACCUTIME WATCH CORPORATION 401(K) SAVINGS PLAN

Measure Date Value
2022 : ACCUTIME WATCH CORPORATION 401(K) SAVINGS 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$0
Total income from all sources2022-12-31$-730,884
Expenses. Total of all expenses incurred2022-12-31$109,084
Benefits paid (including direct rollovers)2022-12-31$94,430
Total plan assets at end of year2022-12-31$5,303,173
Total plan assets at beginning of year2022-12-31$6,143,141
Value of fidelity bond covering the plan2022-12-31$500,000
Total contributions received or receivable from participants2022-12-31$459,828
Expenses. Other expenses not covered elsewhere2022-12-31$0
Contributions received from other sources (not participants or employers)2022-12-31$23,973
Other income received2022-12-31$-1,258,997
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$-839,968
Net plan assets at end of year (total assets less liabilities)2022-12-31$5,303,173
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$6,143,141
Assets. Value of participant loans2022-12-31$9,717
Total contributions received or receivable from employer(s)2022-12-31$44,312
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$14,654
2021 : ACCUTIME WATCH CORPORATION 401(K) SAVINGS 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$1,348,734
Expenses. Total of all expenses incurred2021-12-31$57,033
Benefits paid (including direct rollovers)2021-12-31$40,307
Total plan assets at end of year2021-12-31$6,143,141
Total plan assets at beginning of year2021-12-31$4,851,440
Value of fidelity bond covering the plan2021-12-31$500,000
Assets. Value of tangible personal property2021-12-31$0
Total contributions received or receivable from participants2021-12-31$455,433
Assets. Value of loans (other than to participants)2021-12-31$0
Expenses. Other expenses not covered elsewhere2021-12-31$0
Contributions received from other sources (not participants or employers)2021-12-31$24,707
Other income received2021-12-31$849,913
Noncash contributions received2021-12-31$0
Net income (gross income less expenses)2021-12-31$1,291,701
Net plan assets at end of year (total assets less liabilities)2021-12-31$6,143,141
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$4,851,440
Assets. Value of participant loans2021-12-31$16,334
Assets. Value of assets in partnership/joint-venture interests2021-12-31$0
Assets. Value of real-estate (other than employer real property)2021-12-31$0
Assets. Value of employer securities2021-12-31$0
Assets. Value of employer real property2021-12-31$0
Total contributions received or receivable from employer(s)2021-12-31$18,681
Value of certain deemed distributions of participant loans2021-12-31$2,814
Value of corrective distributions2021-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$13,912
2020 : ACCUTIME WATCH CORPORATION 401(K) SAVINGS 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$1,305,817
Expenses. Total of all expenses incurred2020-12-31$349,489
Benefits paid (including direct rollovers)2020-12-31$338,309
Total plan assets at end of year2020-12-31$4,851,440
Total plan assets at beginning of year2020-12-31$3,895,112
Value of fidelity bond covering the plan2020-12-31$500,000
Assets. Value of tangible personal property2020-12-31$0
Total contributions received or receivable from participants2020-12-31$397,318
Assets. Value of loans (other than to participants)2020-12-31$0
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$840,073
Noncash contributions received2020-12-31$0
Net income (gross income less expenses)2020-12-31$956,328
Net plan assets at end of year (total assets less liabilities)2020-12-31$4,851,440
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$3,895,112
Assets. Value of participant loans2020-12-31$12,189
Assets. Value of assets in partnership/joint-venture interests2020-12-31$0
Assets. Value of real-estate (other than employer real property)2020-12-31$0
Assets. Value of employer securities2020-12-31$0
Assets. Value of employer real property2020-12-31$0
Total contributions received or receivable from employer(s)2020-12-31$68,426
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$11,180
2019 : ACCUTIME WATCH CORPORATION 401(K) SAVINGS PLAN 2019 401k financial data
Transfers to/from the plan2019-12-31$0
Total plan liabilities at end of year2019-12-31$0
Total plan liabilities at beginning of year2019-12-31$542
Total income from all sources2019-12-31$1,163,658
Expenses. Total of all expenses incurred2019-12-31$110,803
Benefits paid (including direct rollovers)2019-12-31$100,206
Total plan assets at end of year2019-12-31$3,895,112
Total plan assets at beginning of year2019-12-31$2,842,799
Value of fidelity bond covering the plan2019-12-31$500,000
Total contributions received or receivable from participants2019-12-31$427,139
Expenses. Other expenses not covered elsewhere2019-12-31$0
Contributions received from other sources (not participants or employers)2019-12-31$26,574
Other income received2019-12-31$709,945
Noncash contributions received2019-12-31$0
Net income (gross income less expenses)2019-12-31$1,052,855
Net plan assets at end of year (total assets less liabilities)2019-12-31$3,895,112
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$2,842,257
Assets. Value of participant loans2019-12-31$57,864
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$10,597

Form 5500 Responses for ACCUTIME WATCH CORPORATION 401(K) SAVINGS PLAN

2022: ACCUTIME WATCH CORPORATION 401(K) SAVINGS PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: ACCUTIME WATCH CORPORATION 401(K) SAVINGS PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01This submission is the final filingNo
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: ACCUTIME WATCH CORPORATION 401(K) SAVINGS PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01This submission is the final filingNo
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: ACCUTIME WATCH CORPORATION 401(K) SAVINGS 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 filingNo
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 – InsuranceYes
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement – InsuranceYes
2019-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

NATIONWIDE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66869 )
Policy contract numberGAP-60-BJ8T GAP
Policy instance 1
Insurance contract or identification numberGAP-60-BJ8T GAP
Number of Individuals Covered0
Insurance policy start date2019-01-01
Insurance policy end date2019-03-31
Total amount of commissions paid to insurance brokerUSD $628
Total amount of fees paid to insurance companyUSD $0
Are there contracts with allocated funds for individual policies?0
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?Yes
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?No
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $628
Amount paid for insurance broker fees0

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