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ASIAN AMERICAN BUSINESS DEVELOPMENT CENTER, INC. 401(K) PLAN 401k Plan overview

Plan NameASIAN AMERICAN BUSINESS DEVELOPMENT CENTER, INC. 401(K) PLAN
Plan identification number 002

ASIAN AMERICAN BUSINESS DEVELOPMENT CENTER, INC. 401(K) 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.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • 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

ASIAN AMERICAN BUSINESS DEVELOPMENT CENTER, INC. has sponsored the creation of one or more 401k plans.

Company Name:ASIAN AMERICAN BUSINESS DEVELOPMENT CENTER, INC.
Employer identification number (EIN):133801336
NAIC Classification:541990
NAIC Description:All Other Professional, Scientific, and Technical Services

Additional information about ASIAN AMERICAN BUSINESS DEVELOPMENT CENTER, INC.

Jurisdiction of Incorporation: New York Department of State
Incorporation Date: 1994-12-20
Company Identification Number: 1877614
Legal Registered Office Address: 30 WALL STREET, 12TH FL.
New York
NEW YORK
United States of America (USA)
10005

More information about ASIAN AMERICAN BUSINESS DEVELOPMENT CENTER, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan ASIAN AMERICAN BUSINESS DEVELOPMENT CENTER, INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01JOHN WANG2024-04-05
0022022-01-01JOHN WANG2023-07-13

Financial Data on ASIAN AMERICAN BUSINESS DEVELOPMENT CENTER, INC. 401(K) PLAN

Measure Date Value
2025 : ASIAN AMERICAN BUSINESS DEVELOPMENT CENTER, INC. 401(K) PLAN 2025 401k financial data
Total transfers to/from plan in this plan year2025-03-180
Total liabilities as of the end of the plan year2025-03-180
Total liabilities as of the beginning of the plan year2025-03-180
Total expenses incurred by plan in this plan year2025-03-188865
Net assets as of the end of the plan year2025-03-18372721
Total assets as of the beginning of the plan year2025-03-18242421
Value of plan covered by a fidelity bond2025-03-1824243
Participant contributions to plan in this plan year2025-03-1860000
Other expenses paid from plan in this plan year2025-03-180
Other contributions to plan in this plan year2025-03-180
Other income to plan in this plan year2025-03-1821965
Plan net income in this plan year2025-03-18130300
Net assets as of the end of the plan year2025-03-18372721
Net assets as of the beginning of the plan year2025-03-18242421
Employer contributions to plan in this plan year2025-03-1857200
Expensese paid to adminstrative service provicers from plan in this plan year2025-03-181304
2024 : ASIAN AMERICAN BUSINESS DEVELOPMENT CENTER, INC. 401(K) PLAN 2024 401k financial data
Total transfers to/from plan in this plan year2024-04-050
Total liabilities as of the end of the plan year2024-04-050
Total liabilities as of the beginning of the plan year2024-04-050
Total expenses incurred by plan in this plan year2024-04-052649
Net assets as of the end of the plan year2024-04-05242421
Total assets as of the beginning of the plan year2024-04-05116450
Participant contributions to plan in this plan year2024-04-0561575
Other expenses paid from plan in this plan year2024-04-050
Other contributions to plan in this plan year2024-04-050
Other income to plan in this plan year2024-04-0511345
Plan net income in this plan year2024-04-05125971
Net assets as of the end of the plan year2024-04-05242421
Net assets as of the beginning of the plan year2024-04-05116450
Employer contributions to plan in this plan year2024-04-0555700
Expensese paid to adminstrative service provicers from plan in this plan year2024-04-05617

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