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TWIN MED 401(K) PLAN 401k Plan overview

Plan NameTWIN MED 401(K) PLAN
Plan identification number 002

TWIN MED 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • 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.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • 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

TWIN MED, LLC has sponsored the creation of one or more 401k plans.

Company Name:TWIN MED, LLC
Employer identification number (EIN):200725693
NAIC Classification:424990
NAIC Description:Other Miscellaneous Nondurable Goods Merchant Wholesalers

Additional information about TWIN MED, LLC

Jurisdiction of Incorporation: State of Delaware Division of Corporations
Incorporation Date:
Company Identification Number: 3762458

More information about TWIN MED, LLC

Form 5500 Filing Information

Submission information for form 5500 for 401k plan TWIN MED 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01
0022021-01-01
0022020-01-01
0022019-01-01
0022019-01-01

Plan Statistics for TWIN MED 401(K) PLAN

401k plan membership statisitcs for TWIN MED 401(K) PLAN

Measure Date Value
2022: TWIN MED 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01597
Total number of active participants reported on line 7a of the Form 55002022-01-01489
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-0193
Total of all active and inactive participants2022-01-01582
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01582
Number of participants with account balances2022-01-01555
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-01108
2021: TWIN MED 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-01588
Total number of active participants reported on line 7a of the Form 55002021-01-01492
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-0194
Total of all active and inactive participants2021-01-01586
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-011
Total participants2021-01-01587
Number of participants with account balances2021-01-01558
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-01103
2020: TWIN MED 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-01773
Total number of active participants reported on line 7a of the Form 55002020-01-01507
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-0173
Total of all active and inactive participants2020-01-01580
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-01580
Number of participants with account balances2020-01-01542
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-0199
2019: TWIN MED 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-01462
Total number of active participants reported on line 7a of the Form 55002019-01-01490
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-01256
Total of all active and inactive participants2019-01-01746
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-011
Total participants2019-01-01747
Number of participants with account balances2019-01-01712
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-0160

Financial Data on TWIN MED 401(K) PLAN

Measure Date Value
2022 : TWIN MED 401(K) PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
Total transfer of assets to this plan2022-12-31$0
Total transfer of assets from this plan2022-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total income from all sources (including contributions)2022-12-31$628,021
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$850,234
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$746,346
Expenses. Certain deemed distributions of participant loans2022-12-31$310
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$2,288,161
Value of total assets at end of year2022-12-31$10,553,177
Value of total assets at beginning of year2022-12-31$10,775,390
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$103,578
Total interest from all sources2022-12-31$11,090
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$429,370
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2022-12-31$429,370
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$500,000
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$1,929,768
Participant contributions at end of year2022-12-31$296,120
Participant contributions at beginning of year2022-12-31$230,967
Participant contributions at end of year2022-12-31$74,815
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$124,345
Other income not declared elsewhere2022-12-31$29,397
Administrative expenses (other) incurred2022-12-31$103,578
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-222,213
Value of net assets at end of year (total assets less liabilities)2022-12-31$10,553,177
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$10,775,390
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-12-31$8,776,835
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$9,343,746
Interest on participant loans2022-12-31$11,090
Value of interest in common/collective trusts at end of year2022-12-31$1,396,086
Value of interest in common/collective trusts at beginning of year2022-12-31$1,200,677
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-2,032,974
Net investment gain or loss from common/collective trusts2022-12-31$-97,023
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$234,048
Employer contributions (assets) at end of year2022-12-31$9,321
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$746,346
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31SINGER LEWAK
Accountancy firm EIN2022-12-31952302617
2021 : TWIN MED 401(K) PLAN 2021 401k financial data
Total unrealized appreciation/depreciation of assets2021-12-31$0
Total transfer of assets to this plan2021-12-31$0
Total transfer of assets from this plan2021-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total income from all sources (including contributions)2021-12-31$3,149,515
Total loss/gain on sale of assets2021-12-31$0
Total of all expenses incurred2021-12-31$776,669
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$684,706
Expenses. Certain deemed distributions of participant loans2021-12-31$295
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$1,951,453
Value of total assets at end of year2021-12-31$10,775,390
Value of total assets at beginning of year2021-12-31$8,402,544
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$91,668
Total interest from all sources2021-12-31$8,372
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$482,314
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2021-12-31$482,314
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$500,000
If this is an individual account plan, was there a blackout period2021-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Contributions received from participants2021-12-31$1,687,088
Participant contributions at end of year2021-12-31$230,967
Participant contributions at beginning of year2021-12-31$146,558
Income. Received or receivable in cash from other sources (including rollovers)2021-12-31$50,776
Other income not declared elsewhere2021-12-31$29,959
Administrative expenses (other) incurred2021-12-31$91,668
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$2,372,846
Value of net assets at end of year (total assets less liabilities)2021-12-31$10,775,390
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$8,402,544
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2021-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2021-12-31No
Were any leases to which the plan was party in default or uncollectible2021-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2021-12-31$9,343,746
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-12-31$7,305,836
Interest on participant loans2021-12-31$8,372
Value of interest in common/collective trusts at end of year2021-12-31$1,200,677
Value of interest in common/collective trusts at beginning of year2021-12-31$950,150
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-12-31$551,709
Net investment gain or loss from common/collective trusts2021-12-31$125,708
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-12-31No
Was there a failure to transmit to the plan any participant contributions2021-12-31No
Has the plan failed to provide any benefit when due under the plan2021-12-31No
Contributions received in cash from employer2021-12-31$213,589
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$684,706
Did the plan have assets held for investment2021-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2021-12-31No
Opinion of an independent qualified public accountant for this plan2021-12-31Unqualified
Accountancy firm name2021-12-31SINGER LEWAK
Accountancy firm EIN2021-12-31952302617
2020 : TWIN MED 401(K) PLAN 2020 401k financial data
Total unrealized appreciation/depreciation of assets2020-12-31$0
Total transfer of assets to this plan2020-12-31$0
Total transfer of assets from this plan2020-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$0
Total income from all sources (including contributions)2020-12-31$2,765,148
Total loss/gain on sale of assets2020-12-31$0
Total of all expenses incurred2020-12-31$1,050,529
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-12-31$966,267
Expenses. Certain deemed distributions of participant loans2020-12-31$286
Value of total corrective distributions2020-12-31$28,635
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-12-31$1,621,820
Value of total assets at end of year2020-12-31$8,402,544
Value of total assets at beginning of year2020-12-31$6,687,925
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-12-31$55,341
Total interest from all sources2020-12-31$8,249
Total dividends received (eg from common stock, registered investment company shares)2020-12-31$232,042
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2020-12-31$232,042
Was this plan covered by a fidelity bond2020-12-31Yes
Value of fidelity bond cover2020-12-31$500,000
If this is an individual account plan, was there a blackout period2020-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
Were there any nonexempt tranactions with any party-in-interest2020-12-31No
Contributions received from participants2020-12-31$1,423,192
Participant contributions at end of year2020-12-31$146,558
Participant contributions at beginning of year2020-12-31$147,315
Other income not declared elsewhere2020-12-31$22,739
Administrative expenses (other) incurred2020-12-31$55,341
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Value of net income/loss2020-12-31$1,714,619
Value of net assets at end of year (total assets less liabilities)2020-12-31$8,402,544
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$6,687,925
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2020-12-31No
Were any leases to which the plan was party in default or uncollectible2020-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2020-12-31$7,305,836
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2020-12-31$5,673,121
Interest on participant loans2020-12-31$8,249
Value of interest in common/collective trusts at end of year2020-12-31$950,150
Value of interest in common/collective trusts at beginning of year2020-12-31$867,489
Net investment gain/loss from registered investment companies (e.g. mutual funds)2020-12-31$794,054
Net investment gain or loss from common/collective trusts2020-12-31$86,244
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-12-31No
Was there a failure to transmit to the plan any participant contributions2020-12-31No
Has the plan failed to provide any benefit when due under the plan2020-12-31No
Contributions received in cash from employer2020-12-31$198,628
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-12-31$966,267
Did the plan have assets held for investment2020-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-12-31No
Opinion of an independent qualified public accountant for this plan2020-12-31Disclaimer
Accountancy firm name2020-12-31SINGER LEWAK
Accountancy firm EIN2020-12-31952302617
2019 : TWIN MED 401(K) PLAN 2019 401k financial data
Total unrealized appreciation/depreciation of assets2019-12-31$0
Total transfer of assets to this plan2019-12-31$0
Total transfer of assets from this plan2019-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$0
Total income from all sources (including contributions)2019-12-31$7,207,410
Total loss/gain on sale of assets2019-12-31$0
Total of all expenses incurred2019-12-31$519,485
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-12-31$469,698
Expenses. Certain deemed distributions of participant loans2019-12-31$6,213
Value of total corrective distributions2019-12-31$15,262
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-12-31$6,394,348
Value of total assets at end of year2019-12-31$6,687,925
Value of total assets at beginning of year2019-12-31$0
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-12-31$28,312
Total interest from all sources2019-12-31$4,684
Total dividends received (eg from common stock, registered investment company shares)2019-12-31$199,647
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2019-12-31$199,647
Was this plan covered by a fidelity bond2019-12-31Yes
Value of fidelity bond cover2019-12-31$1,000
If this is an individual account plan, was there a blackout period2019-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
Were there any nonexempt tranactions with any party-in-interest2019-12-31No
Contributions received from participants2019-12-31$1,213,850
Participant contributions at end of year2019-12-31$147,315
Participant contributions at beginning of year2019-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2019-12-31$5,002,636
Other income not declared elsewhere2019-12-31$12,054
Administrative expenses (other) incurred2019-12-31$28,312
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Value of net income/loss2019-12-31$6,687,925
Value of net assets at end of year (total assets less liabilities)2019-12-31$6,687,925
Value of net assets at beginning of year (total assets less liabilities)2019-12-31$0
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2019-12-31No
Were any leases to which the plan was party in default or uncollectible2019-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2019-12-31$5,673,121
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2019-12-31$0
Interest on participant loans2019-12-31$4,684
Value of interest in common/collective trusts at end of year2019-12-31$867,489
Value of interest in common/collective trusts at beginning of year2019-12-31$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2019-12-31$515,552
Net investment gain or loss from common/collective trusts2019-12-31$81,125
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-12-31No
Was there a failure to transmit to the plan any participant contributions2019-12-31No
Has the plan failed to provide any benefit when due under the plan2019-12-31No
Contributions received in cash from employer2019-12-31$177,862
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-12-31$469,698
Did the plan have assets held for investment2019-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2019-12-31Yes
Opinion of an independent qualified public accountant for this plan2019-12-31Disclaimer
Accountancy firm name2019-12-31SINGER LEWAK
Accountancy firm EIN2019-12-31952302617

Form 5500 Responses for TWIN MED 401(K) PLAN

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

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