401k Plan data: PRESTON & CLEVELAND WEALTH MANAGEMENT, LLC 401(K) AND PROFIT SHARING PLAN plan

PRESTON & CLEVELAND WEALTH MANAGEMENT, LLC 401(K) AND PROFIT SHARING PLAN 401k Plan overview

Plan Name	PRESTON & CLEVELAND WEALTH MANAGEMENT, LLC 401(K) AND PROFIT SHARING PLAN
Plan identification number	001

PRESTON & CLEVELAND WEALTH MANAGEMENT, LLC 401(K) AND PROFIT SHARING PLAN Benefits

401k Plan Type

Defined Benefit Pension

Plan Features/Benefits

Cash balance or similar plan - Plan has a "cash balance" formula. For this purpose, a "cash balance" formula is a benefit formula in a defined benefit plan by whatever name (for example, personal account plan, pension equity plan, life cycle plan, cash account plan, etc.) that rather than, or in addition to, expressing the accrued benefit as a life annuity commencing at normal retirement age, defines benefits for each employee in terms more common to a defined contribution plan such as a single sum distribution amount (for example, 10 percent of final average pay times years of service, or the amount of the employee's hypothetical account balance).
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).
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.
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

PRESTON & CLEVELAND WEALTH MANAGEMENT, LLC has sponsored the creation of one or more 401k plans.

Company Name: PRESTON & CLEVELAND WEALTH MANAGEMENT, LLC

Employer identification number (EIN): 201157888

NAIC Classification: 238300

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PRESTON & CLEVELAND WEALTH MANAGEMENT, LLC 401(K) AND PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
001 2023-01-01
001 2022-01-01
001 2021-01-01
001 2021-01-01
001 2017-01-01 JOHN PRESTON 2017-09-05
001 2016-01-01 JOHN PRESTON 2017-07-13
001 2013-01-01 JOHN PRESTON 2014-07-17
001 2012-01-01 JOHN PRESTON 2013-06-24
001 2011-01-01 BRIAN PRESTON 2012-10-15

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed
001	2023-01-01
001	2022-01-01
001	2021-01-01
001	2021-01-01
001	2017-01-01	JOHN PRESTON	2017-09-05
001	2016-01-01	JOHN PRESTON	2017-07-13
001	2013-01-01	JOHN PRESTON	2014-07-17
001	2012-01-01	JOHN PRESTON	2013-06-24
001	2011-01-01	BRIAN PRESTON	2012-10-15

Plan Statistics for PRESTON & CLEVELAND WEALTH MANAGEMENT, LLC 401(K) AND PROFIT SHARING PLAN

401k plan membership statisitcs for PRESTON & CLEVELAND WEALTH MANAGEMENT, LLC 401(K) AND PROFIT SHARING PLAN

Measure Date Value
2024: PRESTON & CLEVELAND WEALTH MANAGEMENT, LLC 401(K) AND PROFIT SHARING PLAN 2024 401k membership
Total number of particpants at beginning of year 2024-10-08 3
Total number of particpants at end of year 2024-10-08 0
2022: PRESTON & CLEVELAND WEALTH MANAGEMENT, LLC 401(K) AND PROFIT SHARING PLAN 2022 401k membership
Market value of plan assets 2022-12-31 113,505
Acturial value of plan assets 2022-12-31 113,505
Funding target for retired participants and beneficiaries receiving payment 2022-12-31 0
Number of terminated vested participants 2022-12-31 0
Fundng target for terminated vested participants 2022-12-31 0
Active participant vested funding target 2022-12-31 0
Number of active participants 2022-12-31 3
Total funding liabilities for active participants 2022-12-31 128,208
Total participant count 2022-12-31 3
Total funding target for all participants 2022-12-31 128,208
Balance at beginning of prior year after applicable adjustments 2022-12-31 0
Prefunding balance at beginning of prior year after applicable adjustments 2022-12-31 0
Carryover balanced portion elected for use to offset prior years funding requirement 2022-12-31 0
Prefunding balanced used to offset prior years funding requirement 2022-12-31 0
Amount remaining of carryover balance 2022-12-31 0
Amount remaining of prefunding balance 2022-12-31 0
Present value of excess contributions 2022-12-31 50,499
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2022-12-31 50,499
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2022-12-31 0
Reductions in caryover balances due to elections or deemed elections 2022-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2022-12-31 0
Balance of carryovers at beginning of current year 2022-12-31 0
Balance of prefunding at beginning of current year 2022-12-31 0
Total employer contributions 2022-12-31 164,796
Total employee contributions 2022-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2022-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2022-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2022-12-31 169,870
Unpaid minimum required contributions for all prior years 2022-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2022-12-31 0
Remaining amount of unpaid minimum required contributions 2022-12-31 0
Minimum required contributions for current year target normal cost 2022-12-31 121,573
Net shortfall amortization installment of oustanding balance 2022-12-31 14,704
Waiver amortization installment 2022-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2022-12-31 122,932
Carryover balance elected to use to offset funding requirement 2022-12-31 0
Prefunding balance elected to use to offset funding requirement 2022-12-31 0
Additional cash requirement 2022-12-31 122,932
Contributions allocatedtoward minimum required contributions for current year 2022-12-31 169,870
Unpaid minimum required contributions for current year 2022-12-31 0
Unpaid minimum required contributions for all years 2022-12-31 0
2021: PRESTON & CLEVELAND WEALTH MANAGEMENT, LLC 401(K) AND PROFIT SHARING PLAN 2021 401k membership
Market value of plan assets 2021-12-31 0
Acturial value of plan assets 2021-12-31 0
Funding target for retired participants and beneficiaries receiving payment 2021-12-31 0
Number of terminated vested participants 2021-12-31 0
Fundng target for terminated vested participants 2021-12-31 0
Active participant vested funding target 2021-12-31 0
Number of active participants 2021-12-31 2
Total funding liabilities for active participants 2021-12-31 0
Total participant count 2021-12-31 2
Total funding target for all participants 2021-12-31 0
Balance at beginning of prior year after applicable adjustments 2021-12-31 0
Prefunding balance at beginning of prior year after applicable adjustments 2021-12-31 0
Carryover balanced portion elected for use to offset prior years funding requirement 2021-12-31 0
Prefunding balanced used to offset prior years funding requirement 2021-12-31 0
Amount remaining of carryover balance 2021-12-31 0
Amount remaining of prefunding balance 2021-12-31 0
Present value of excess contributions 2021-12-31 0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2021-12-31 0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2021-12-31 0
Reductions in caryover balances due to elections or deemed elections 2021-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2021-12-31 0
Balance of carryovers at beginning of current year 2021-12-31 0
Balance of prefunding at beginning of current year 2021-12-31 0
Total employer contributions 2021-12-31 151,603
Total employee contributions 2021-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2021-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2021-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2021-12-31 156,297
Unpaid minimum required contributions for all prior years 2021-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2021-12-31 0
Remaining amount of unpaid minimum required contributions 2021-12-31 0
Minimum required contributions for current year target normal cost 2021-12-31 105,798
Net shortfall amortization installment of oustanding balance 2021-12-31 0
Waiver amortization installment 2021-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2021-12-31 105,798
Carryover balance elected to use to offset funding requirement 2021-12-31 0
Prefunding balance elected to use to offset funding requirement 2021-12-31 0
Additional cash requirement 2021-12-31 105,798
Contributions allocatedtoward minimum required contributions for current year 2021-12-31 156,297
Unpaid minimum required contributions for current year 2021-12-31 0
Unpaid minimum required contributions for all years 2021-12-31 0

Measure	Date	Value
2024: PRESTON & CLEVELAND WEALTH MANAGEMENT, LLC 401(K) AND PROFIT SHARING PLAN 2024 401k membership
Total number of particpants at beginning of year	2024-10-08	3
Total number of particpants at end of year	2024-10-08	0
2022: PRESTON & CLEVELAND WEALTH MANAGEMENT, LLC 401(K) AND PROFIT SHARING PLAN 2022 401k membership
Market value of plan assets	2022-12-31	113,505
Acturial value of plan assets	2022-12-31	113,505
Funding target for retired participants and beneficiaries receiving payment	2022-12-31	0
Number of terminated vested participants	2022-12-31	0
Fundng target for terminated vested participants	2022-12-31	0
Active participant vested funding target	2022-12-31	0
Number of active participants	2022-12-31	3
Total funding liabilities for active participants	2022-12-31	128,208
Total participant count	2022-12-31	3
Total funding target for all participants	2022-12-31	128,208
Balance at beginning of prior year after applicable adjustments	2022-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2022-12-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2022-12-31	0
Prefunding balanced used to offset prior years funding requirement	2022-12-31	0
Amount remaining of carryover balance	2022-12-31	0
Amount remaining of prefunding balance	2022-12-31	0
Present value of excess contributions	2022-12-31	50,499
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2022-12-31	50,499
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2022-12-31	0
Reductions in caryover balances due to elections or deemed elections	2022-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2022-12-31	0
Balance of carryovers at beginning of current year	2022-12-31	0
Balance of prefunding at beginning of current year	2022-12-31	0
Total employer contributions	2022-12-31	164,796
Total employee contributions	2022-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2022-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2022-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2022-12-31	169,870
Unpaid minimum required contributions for all prior years	2022-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2022-12-31	0
Remaining amount of unpaid minimum required contributions	2022-12-31	0
Minimum required contributions for current year target normal cost	2022-12-31	121,573
Net shortfall amortization installment of oustanding balance	2022-12-31	14,704
Waiver amortization installment	2022-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2022-12-31	122,932
Carryover balance elected to use to offset funding requirement	2022-12-31	0
Prefunding balance elected to use to offset funding requirement	2022-12-31	0
Additional cash requirement	2022-12-31	122,932
Contributions allocatedtoward minimum required contributions for current year	2022-12-31	169,870
Unpaid minimum required contributions for current year	2022-12-31	0
Unpaid minimum required contributions for all years	2022-12-31	0
2021: PRESTON & CLEVELAND WEALTH MANAGEMENT, LLC 401(K) AND PROFIT SHARING PLAN 2021 401k membership
Market value of plan assets	2021-12-31	0
Acturial value of plan assets	2021-12-31	0
Funding target for retired participants and beneficiaries receiving payment	2021-12-31	0
Number of terminated vested participants	2021-12-31	0
Fundng target for terminated vested participants	2021-12-31	0
Active participant vested funding target	2021-12-31	0
Number of active participants	2021-12-31	2
Total funding liabilities for active participants	2021-12-31	0
Total participant count	2021-12-31	2
Total funding target for all participants	2021-12-31	0
Balance at beginning of prior year after applicable adjustments	2021-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2021-12-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2021-12-31	0
Prefunding balanced used to offset prior years funding requirement	2021-12-31	0
Amount remaining of carryover balance	2021-12-31	0
Amount remaining of prefunding balance	2021-12-31	0
Present value of excess contributions	2021-12-31	0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2021-12-31	0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2021-12-31	0
Reductions in caryover balances due to elections or deemed elections	2021-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2021-12-31	0
Balance of carryovers at beginning of current year	2021-12-31	0
Balance of prefunding at beginning of current year	2021-12-31	0
Total employer contributions	2021-12-31	151,603
Total employee contributions	2021-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2021-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2021-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2021-12-31	156,297
Unpaid minimum required contributions for all prior years	2021-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2021-12-31	0
Remaining amount of unpaid minimum required contributions	2021-12-31	0
Minimum required contributions for current year target normal cost	2021-12-31	105,798
Net shortfall amortization installment of oustanding balance	2021-12-31	0
Waiver amortization installment	2021-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2021-12-31	105,798
Carryover balance elected to use to offset funding requirement	2021-12-31	0
Prefunding balance elected to use to offset funding requirement	2021-12-31	0
Additional cash requirement	2021-12-31	105,798
Contributions allocatedtoward minimum required contributions for current year	2021-12-31	156,297
Unpaid minimum required contributions for current year	2021-12-31	0
Unpaid minimum required contributions for all years	2021-12-31	0

Financial Data on PRESTON & CLEVELAND WEALTH MANAGEMENT, LLC 401(K) AND PROFIT SHARING PLAN

Measure	Date	Value
2024 : PRESTON & CLEVELAND WEALTH MANAGEMENT, LLC 401(K) AND PROFIT SHARING PLAN 2024 401k financial data
Total transfers to/from plan in this plan year	2024-10-08	0
Total liabilities as of the end of the plan year	2024-10-08	0
Total liabilities as of the beginning of the plan year	2024-10-08	0
Total expenses incurred by plan in this plan year	2024-10-08	392397
Net assets as of the end of the plan year	2024-10-08	0
Total assets as of the beginning of the plan year	2024-10-08	283375
Participant contributions to plan in this plan year	2024-10-08	0
Other expenses paid from plan in this plan year	2024-10-08	0
Other contributions to plan in this plan year	2024-10-08	0
Other income to plan in this plan year	2024-10-08	69022
Plan net income in this plan year	2024-10-08	-283375
Net assets as of the end of the plan year	2024-10-08	0
Net assets as of the beginning of the plan year	2024-10-08	283375
Employer contributions to plan in this plan year	2024-10-08	40000
Expensese paid to adminstrative service provicers from plan in this plan year	2024-10-08	0

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Company Name:	PRESTON & CLEVELAND WEALTH MANAGEMENT, LLC
Employer identification number (EIN):	201157888
NAIC Classification:	238300