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PROCONSORT INC 401(K) PROFIT SHARING PLAN & TRUST 401k Plan overview

Plan NamePROCONSORT INC 401(K) PROFIT SHARING PLAN & TRUST
Plan identification number 001

PROCONSORT INC 401(K) PROFIT SHARING PLAN & TRUST Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
  • Plan covered by PBGC that was terminated and closed out for PBGC purposes - Before the end of the plan year (or a prior plan year), (1) the plan terminated in a standard (or distress) termination and completed the distribution of plan assets in satisfaction of all benefit liabilities (or all ERISA Title IV benefits for distress termination); or (2) a trustee was appointed for a terminated plan pursuant to ERISA section 4042.
  • Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).
  • 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.

401k Sponsoring company profile

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

Company Name:PROCONSORT INC.
Employer identification number (EIN):134109848
NAIC Classification:812990
NAIC Description:All Other Personal Services

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PROCONSORT INC 401(K) PROFIT SHARING PLAN & TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01DANIEL KAREN2023-07-17
0012021-01-01DANIEL KAREN2022-07-27
0012020-01-01ROBERT KAREN2021-07-27
0012019-01-01ROBERT KAREN2020-07-31
0012018-01-01ROBERT KAREN2019-07-31
0012017-01-01ROBERT KAREN2018-07-31
0012012-01-01ROBERT KAREN2013-06-07 ROBERT KAREN2013-06-07
0012011-01-01ROBERT KAREN2012-05-01 ROBERT KAREN2012-05-01
0012009-01-01ROBERT KAREN ROBERT KAREN2010-09-20

Plan Statistics for PROCONSORT INC 401(K) PROFIT SHARING PLAN & TRUST

401k plan membership statisitcs for PROCONSORT INC 401(K) PROFIT SHARING PLAN & TRUST

Measure Date Value
2009: PROCONSORT INC 401(K) PROFIT SHARING PLAN & TRUST 2009 401k membership
Total participants, beginning-of-year2009-01-0110
Total number of active participants reported on line 7a of the Form 55002009-01-0110
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-010
Total of all active and inactive participants2009-01-0110
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-0110
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

Financial Data on PROCONSORT INC 401(K) PROFIT SHARING PLAN & TRUST

Measure Date Value
2010 : PROCONSORT INC 401(K) PROFIT SHARING PLAN & TRUST 2010 401k financial data
Transfers to/from the plan2010-12-31$0
Total plan liabilities at end of year2010-12-31$0
Total plan liabilities at beginning of year2010-12-31$0
Total income from all sources2010-12-31$102,875
Expenses. Total of all expenses incurred2010-12-31$81
Benefits paid (including direct rollovers)2010-12-31$0
Total plan assets at end of year2010-12-31$826,028
Total plan assets at beginning of year2010-12-31$723,234
Value of fidelity bond covering the plan2010-12-31$100,000
Total contributions received or receivable from participants2010-12-31$0
Expenses. Other expenses not covered elsewhere2010-12-31$81
Contributions received from other sources (not participants or employers)2010-12-31$0
Other income received2010-12-31$53,348
Noncash contributions received2010-12-31$0
Net income (gross income less expenses)2010-12-31$102,794
Net plan assets at end of year (total assets less liabilities)2010-12-31$826,028
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$723,234
Total contributions received or receivable from employer(s)2010-12-31$49,527
Value of certain deemed distributions of participant loans2010-12-31$0
Value of corrective distributions2010-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-31$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
2009 : PROCONSORT INC 401(K) PROFIT SHARING PLAN & TRUST 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for PROCONSORT INC 401(K) PROFIT SHARING PLAN & TRUST

2009: PROCONSORT INC 401(K) PROFIT SHARING PLAN & TRUST 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

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