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TITAN DRILLING CORPORATION PROFIT SHARING PLAN 401k Plan overview

Plan NameTITAN DRILLING CORPORATION PROFIT SHARING PLAN
Plan identification number 003

TITAN DRILLING CORPORATION 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.
  • 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.
  • Life insurance

401k Sponsoring company profile

TITAN DRILLING CORPORATION has sponsored the creation of one or more 401k plans.

Company Name:TITAN DRILLING CORPORATION
Employer identification number (EIN):160908676
NAIC Classification:238900

Form 5500 Filing Information

Submission information for form 5500 for 401k plan TITAN DRILLING CORPORATION PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032022-08-01SONJA L. HANSELMAN2024-01-26
0032021-08-01SONJA L. HANSELMAN2023-03-13
0032020-08-01SONJA L. HANSELMAN2021-11-09
0032019-08-01SONJA L. HANSELMAN2021-02-16
0032018-08-01THEODORE W JOHNSON2020-05-15 THEODORE W JOHNSON2020-05-15
0032017-08-01THEODORE JOHNSON2019-04-23 THEODORE JOHNSON2019-04-23
0032016-08-01JILL JAMROZY2018-03-01
0032015-08-01
0032014-08-01
0032013-08-01TROY JOHNSON2015-05-15
0032012-08-01TROY JOHNSON2014-05-15
0032011-08-01TROY JOHNSON2013-05-13
0032010-08-01TROY JOHNSON
0032009-08-01TROY JOHNSON

Financial Data on TITAN DRILLING CORPORATION PROFIT SHARING PLAN

Measure Date Value
2025 : TITAN DRILLING CORPORATION PROFIT SHARING PLAN 2025 401k financial data
Total expenses incurred by plan in this plan year2025-05-1584609
Net assets as of the end of the plan year2025-05-151497183
Total assets as of the beginning of the plan year2025-05-151345945
Value of plan covered by a fidelity bond2025-05-15200000
Participant contributions to plan in this plan year2025-05-1551680
Value of participant loans at end of plan year2025-05-1566180
Other income to plan in this plan year2025-05-15106052
Plan net income in this plan year2025-05-15151238
Net assets as of the end of the plan year2025-05-151497183
Net assets as of the beginning of the plan year2025-05-151345945
Employer contributions to plan in this plan year2025-05-1578115
Expensese paid to adminstrative service provicers from plan in this plan year2025-05-158948
2011 : TITAN DRILLING CORPORATION PROFIT SHARING PLAN 2011 401k financial data
Transfers to/from the plan2011-07-31$0
Total plan liabilities at end of year2011-07-31$0
Total plan liabilities at beginning of year2011-07-31$0
Total income from all sources2011-07-31$-22,689
Expenses. Total of all expenses incurred2011-07-31$79,515
Benefits paid (including direct rollovers)2011-07-31$58,546
Total plan assets at end of year2011-07-31$1,165,954
Total plan assets at beginning of year2011-07-31$1,268,158
Value of fidelity bond covering the plan2011-07-31$50,000
Total contributions received or receivable from participants2011-07-31$7,808
Expenses. Other expenses not covered elsewhere2011-07-31$14,188
Contributions received from other sources (not participants or employers)2011-07-31$0
Other income received2011-07-31$-47,852
Noncash contributions received2011-07-31$0
Net income (gross income less expenses)2011-07-31$-102,204
Net plan assets at end of year (total assets less liabilities)2011-07-31$1,165,954
Net plan assets at beginning of year (total assets less liabilities)2011-07-31$1,268,158
Assets. Value of participant loans2011-07-31$41,821
Total contributions received or receivable from employer(s)2011-07-31$17,355
Value of certain deemed distributions of participant loans2011-07-31$0
Value of corrective distributions2011-07-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2011-07-31$6,781
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-07-31$0
2010 : TITAN DRILLING CORPORATION PROFIT SHARING PLAN 2010 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-07-31$0

Form 5500 Responses for TITAN DRILLING CORPORATION PROFIT SHARING PLAN

2010: TITAN DRILLING CORPORATION PROFIT SHARING PLAN 2010 form 5500 responses
2010-08-01Type of plan entitySingle employer plan
2010-08-01Submission has been amendedNo
2010-08-01This submission is the final filingNo
2010-08-01This return/report is a short plan year return/report (less than 12 months)No
2010-08-01Plan is a collectively bargained planNo
2010-08-01Plan funding arrangement – InsuranceYes
2010-08-01Plan funding arrangement – TrustYes
2010-08-01Plan benefit arrangement – InsuranceYes
2010-08-01Plan benefit arrangement - TrustYes
2009: TITAN DRILLING CORPORATION PROFIT SHARING PLAN 2009 form 5500 responses
2009-08-01Type of plan entitySingle employer plan
2009-08-01Submission has been amendedNo
2009-08-01This submission is the final filingNo
2009-08-01This return/report is a short plan year return/report (less than 12 months)No
2009-08-01Plan is a collectively bargained planNo
2009-08-01Plan funding arrangement – InsuranceYes
2009-08-01Plan funding arrangement – TrustYes
2009-08-01Plan benefit arrangement – InsuranceYes
2009-08-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PENN MUTUAL LIFE INSURANCE CO (National Association of Insurance Commissioners NAIC id number: 67644 )
Policy contract number8055G
Policy instance 1
NATIONAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66680 )
Policy contract number0354310
Policy instance 2
UNION CENTRAL LIFE INSURANCE CO. (National Association of Insurance Commissioners NAIC id number: 80837 )
Policy contract numberE35 4041
Policy instance 3

Potentially related plans

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