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BUSINESS & CAREER SERVICES, INC. 401(K) PLAN 401k Plan overview

Plan NameBUSINESS & CAREER SERVICES, INC. 401(K) PLAN
Plan identification number 001

BUSINESS & CAREER SERVICES, 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.
  • 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

THE WORKFORCE BOARD OF NORTHERN COOK COUNTY, INC has sponsored the creation of one or more 401k plans.

Company Name:THE WORKFORCE BOARD OF NORTHERN COOK COUNTY, INC
Employer identification number (EIN):200287758
NAIC Classification:813000
NAIC Description: Religious, Grantmaking, Civic, Professional, and Similar Organizations

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BUSINESS & CAREER SERVICES, INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012021-07-01LISA MAENTZ2023-02-28 LISA MAENTZ2023-02-28
0012020-07-01LISA MAENTZ2022-04-07 LISA MAENTZ2022-04-07
0012019-07-01ALGIRDAS SAULYS2021-04-09 ALGIRDAS SAULYS2021-04-09
0012018-07-01
0012017-07-01ALGIRDAS SAULYS ALGIRDAS SAULYS2019-01-22
0012016-07-01ALGIRDAS SAULYS2018-01-11 ALGIRDAS SAULYS2018-01-11
0012015-07-01ALGIRDAS V SAULYS2017-01-18 ALGIRDAS V SAULYS2017-01-18
0012014-07-01ALGIRDAS SAULYS2016-04-12 ALGIRDAS SAULYS2016-04-12
0012013-07-01ALGIRDAS SAULYS2015-01-26 ALGIRDAS SAULYS2015-01-26

Plan Statistics for BUSINESS & CAREER SERVICES, INC. 401(K) PLAN

401k plan membership statisitcs for BUSINESS & CAREER SERVICES, INC. 401(K) PLAN

Measure Date Value
2018: BUSINESS & CAREER SERVICES, INC. 401(K) PLAN 2018 401k membership
Total participants, beginning-of-year2018-07-0129
Total number of active participants reported on line 7a of the Form 55002018-07-0121
Number of retired or separated participants receiving benefits2018-07-019
Number of other retired or separated participants entitled to future benefits2018-07-012
Total of all active and inactive participants2018-07-0132
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-07-011
Total participants2018-07-0133
Number of participants with account balances2018-07-0119
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-07-011
2017: BUSINESS & CAREER SERVICES, INC. 401(K) PLAN 2017 401k membership
Total participants, beginning-of-year2017-07-0129
Total number of active participants reported on line 7a of the Form 55002017-07-0124
Number of retired or separated participants receiving benefits2017-07-012
Number of other retired or separated participants entitled to future benefits2017-07-011
Total of all active and inactive participants2017-07-0127
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-07-011
Total participants2017-07-0128
Number of participants with account balances2017-07-0115
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-07-011

Financial Data on BUSINESS & CAREER SERVICES, INC. 401(K) PLAN

Measure Date Value
2019 : BUSINESS & CAREER SERVICES, INC. 401(K) PLAN 2019 401k financial data
Total income from all sources2019-06-30$167,465
Expenses. Total of all expenses incurred2019-06-30$24
Benefits paid (including direct rollovers)2019-06-30$0
Total plan assets at end of year2019-06-30$1,799,906
Total plan assets at beginning of year2019-06-30$1,632,465
Total contributions received or receivable from participants2019-06-30$47,973
Contributions received from other sources (not participants or employers)2019-06-30$0
Other income received2019-06-30$84,732
Net income (gross income less expenses)2019-06-30$167,441
Net plan assets at end of year (total assets less liabilities)2019-06-30$1,799,906
Net plan assets at beginning of year (total assets less liabilities)2019-06-30$1,632,465
Assets. Value of participant loans2019-06-30$22,056
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022019-06-30$16,846
Total contributions received or receivable from employer(s)2019-06-30$34,760
Value of corrective distributions2019-06-30$0
Expenses. Administrative service providers (salaries,fees and commissions)2019-06-30$24
2018 : BUSINESS & CAREER SERVICES, INC. 401(K) PLAN 2018 401k financial data
Total income from all sources2018-06-30$186,242
Expenses. Total of all expenses incurred2018-06-30$26,238
Benefits paid (including direct rollovers)2018-06-30$25,879
Total plan assets at end of year2018-06-30$1,632,465
Total plan assets at beginning of year2018-06-30$1,472,461
Total contributions received or receivable from participants2018-06-30$47,844
Other income received2018-06-30$106,904
Net income (gross income less expenses)2018-06-30$160,004
Net plan assets at end of year (total assets less liabilities)2018-06-30$1,632,465
Net plan assets at beginning of year (total assets less liabilities)2018-06-30$1,472,461
Assets. Value of participant loans2018-06-30$27,823
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022018-06-30$15,224
Total contributions received or receivable from employer(s)2018-06-30$31,494
Expenses. Administrative service providers (salaries,fees and commissions)2018-06-30$359

Form 5500 Responses for BUSINESS & CAREER SERVICES, INC. 401(K) PLAN

2018: BUSINESS & CAREER SERVICES, INC. 401(K) PLAN 2018 form 5500 responses
2018-07-01Type of plan entitySingle employer plan
2018-07-01Submission has been amendedNo
2018-07-01This submission is the final filingNo
2018-07-01This return/report is a short plan year return/report (less than 12 months)No
2018-07-01Plan is a collectively bargained planNo
2018-07-01Plan funding arrangement – InsuranceYes
2018-07-01Plan funding arrangement – TrustYes
2018-07-01Plan benefit arrangement – InsuranceYes
2018-07-01Plan benefit arrangement - TrustYes
2017: BUSINESS & CAREER SERVICES, INC. 401(K) PLAN 2017 form 5500 responses
2017-07-01Type of plan entitySingle employer plan
2017-07-01Submission has been amendedNo
2017-07-01This submission is the final filingNo
2017-07-01This return/report is a short plan year return/report (less than 12 months)No
2017-07-01Plan is a collectively bargained planNo
2017-07-01Plan funding arrangement – InsuranceYes
2017-07-01Plan funding arrangement – TrustYes
2017-07-01Plan benefit arrangement – InsuranceYes
2017-07-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number103524
Policy instance 1
Insurance contract or identification number103524
Number of Individuals Covered30
Insurance policy start date2018-07-01
Insurance policy end date2019-06-30
Total amount of commissions paid to insurance brokerUSD $4,130
Total amount of fees paid to insurance companyUSD $832
Commission paid to Insurance BrokerUSD $4,130
Insurance broker organization code?3
Amount paid for insurance broker fees832
Additional information about fees paid to insurance brokerTPA FEES AND COMPENSATION
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number103524
Policy instance 1
Insurance contract or identification number103524
Number of Individuals Covered27
Insurance policy start date2017-07-01
Insurance policy end date2018-06-30
Total amount of commissions paid to insurance brokerUSD $3,875
Total amount of fees paid to insurance companyUSD $1,017
Commission paid to Insurance BrokerUSD $3,875
Insurance broker organization code?3
Amount paid for insurance broker fees1017
Additional information about fees paid to insurance brokerTPA FEES AND COMPENSATION
Insurance broker nameE.R.I.S.A., INC.

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