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PATTERSON OF MARSHALL EMPLOYEE BENEFITS PLAN 401k Plan overview

Plan NamePATTERSON OF MARSHALL EMPLOYEE BENEFITS PLAN
Plan identification number 501

PATTERSON OF MARSHALL EMPLOYEE BENEFITS PLAN Benefits

401k Plan TypeWelfare Benefit
Plan Features/Benefits
  • Health (other than dental or vision)
  • Life insurance
  • Dental
  • Vision
  • Temporary disability (accident and sickness)
  • Long-term disability cover
  • Other welfare benefit cover

401k Sponsoring company profile

PATTERSON MOTORS OF MARSHALL has sponsored the creation of one or more 401k plans.

Company Name:PATTERSON MOTORS OF MARSHALL
Employer identification number (EIN):202229295
NAIC Classification:441110
NAIC Description:New Car Dealers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PATTERSON OF MARSHALL EMPLOYEE BENEFITS PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
5012021-01-01
5012020-01-01

Plan Statistics for PATTERSON OF MARSHALL EMPLOYEE BENEFITS PLAN

401k plan membership statisitcs for PATTERSON OF MARSHALL EMPLOYEE BENEFITS PLAN

Measure Date Value
2021: PATTERSON OF MARSHALL EMPLOYEE BENEFITS PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-0117
Total number of active participants reported on line 7a of the Form 55002021-01-0115
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-010
Total of all active and inactive participants2021-01-0115
2020: PATTERSON OF MARSHALL EMPLOYEE BENEFITS PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-0119
Total number of active participants reported on line 7a of the Form 55002020-01-0128
Total of all active and inactive participants2020-01-0128

Financial Data on PATTERSON OF MARSHALL EMPLOYEE BENEFITS PLAN

Measure Date Value
2021 : PATTERSON OF MARSHALL EMPLOYEE BENEFITS PLAN 2021 401k financial data
Total plan liabilities at end of year2021-12-31$2,066
Total plan liabilities at beginning of year2021-12-31$37,017
Total income from all sources2021-12-31$306,711
Expenses. Total of all expenses incurred2021-12-31$271,760
Benefits paid (including direct rollovers)2021-12-31$254,034
Total plan assets at end of year2021-12-31$0
Total plan assets at beginning of year2021-12-31$0
Value of fidelity bond covering the plan2021-12-31$100,000
Total contributions received or receivable from participants2021-12-31$77,261
Expenses. Other expenses not covered elsewhere2021-12-31$3,043
Net income (gross income less expenses)2021-12-31$34,951
Net plan assets at end of year (total assets less liabilities)2021-12-31$-2,066
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$-37,017
Total contributions received or receivable from employer(s)2021-12-31$229,450
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$14,683
2020 : PATTERSON OF MARSHALL EMPLOYEE BENEFITS PLAN 2020 401k financial data
Total plan liabilities at end of year2020-12-31$37,017
Total income from all sources2020-12-31$176,018
Expenses. Total of all expenses incurred2020-12-31$213,035
Benefits paid (including direct rollovers)2020-12-31$193,493
Total plan assets at end of year2020-12-31$0
Total plan assets at beginning of year2020-12-31$0
Value of fidelity bond covering the plan2020-12-31$100,000
Total contributions received or receivable from participants2020-12-31$92,209
Expenses. Other expenses not covered elsewhere2020-12-31$3,145
Net income (gross income less expenses)2020-12-31$-37,017
Net plan assets at end of year (total assets less liabilities)2020-12-31$-37,017
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$0
Total contributions received or receivable from employer(s)2020-12-31$83,809
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$16,397

Form 5500 Responses for PATTERSON OF MARSHALL EMPLOYEE BENEFITS PLAN

2021: PATTERSON OF MARSHALL EMPLOYEE BENEFITS PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Plan funding arrangement – InsuranceYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement – InsuranceYes
2021-01-01Plan benefit arrangement - TrustYes
2020: PATTERSON OF MARSHALL EMPLOYEE BENEFITS PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01First time form 5500 has been submittedYes
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 – InsuranceYes
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement – InsuranceYes
2020-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA (National Association of Insurance Commissioners NAIC id number: 64246 )
Policy contract number00566953
Policy instance 1
Insurance contract or identification number00566953
Number of Individuals Covered14
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $6,209
Total amount of fees paid to insurance companyUSD $279
Dental Insurance Welfare BenefitYes
Vision Insurance Welfare BenefitYes
Life Insurance Welfare BenefitYes
Temporary Disability Insurance Welfare BenefitYes
Long Term Disability Insurance Welfare BenefitYes
Other welfare benefits providedAD&D
Welfare Benefit Premiums Paid to CarrierUSD $28,445
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?Yes
Commission paid to Insurance BrokerUSD $5,024
Insurance broker organization code?3
Amount paid for insurance broker fees279
THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA (National Association of Insurance Commissioners NAIC id number: 64246 )
Policy contract number00566953
Policy instance 1
Insurance contract or identification number00566953
Number of Individuals Covered19
Insurance policy start date2020-01-01
Insurance policy end date2020-12-31
Total amount of commissions paid to insurance brokerUSD $6,591
Total amount of fees paid to insurance companyUSD $0
Are there contracts with allocated funds for individual policies?0
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?No
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitYes
Vision Insurance Welfare BenefitYes
Life Insurance Welfare BenefitYes
Temporary Disability Insurance Welfare BenefitYes
Long Term Disability Insurance Welfare BenefitYes
Unemployment Insurance Welfare BenefitNo
Other welfare benefits providedVOLUNTARY AD&D
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Welfare Benefit Premiums Paid to CarrierUSD $31,157
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?Yes
Commission paid to Insurance BrokerUSD $6,581
Insurance broker organization code?3

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