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VICTORIA MOTORS EMPLOYEE BENEFITS PLAN 401k Plan overview

Plan NameVICTORIA MOTORS EMPLOYEE BENEFITS PLAN
Plan identification number 501

VICTORIA MOTORS 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

VICTORIA MOTORS, INC. VICTORY PONTIAC BUICK GMC has sponsored the creation of one or more 401k plans.

Company Name:VICTORIA MOTORS, INC. VICTORY PONTIAC BUICK GMC
Employer identification number (EIN):205646629
NAIC Classification:441110
NAIC Description:New Car Dealers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan VICTORIA MOTORS 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
5012020-01-01

Plan Statistics for VICTORIA MOTORS EMPLOYEE BENEFITS PLAN

401k plan membership statisitcs for VICTORIA MOTORS EMPLOYEE BENEFITS PLAN

Measure Date Value
2021: VICTORIA MOTORS EMPLOYEE BENEFITS PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-0139
Total number of active participants reported on line 7a of the Form 55002021-01-0136
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 participants2021-01-0136
2020: VICTORIA MOTORS EMPLOYEE BENEFITS PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-0150
Total number of active participants reported on line 7a of the Form 55002020-01-0155
Total of all active and inactive participants2020-01-0155

Financial Data on VICTORIA MOTORS EMPLOYEE BENEFITS PLAN

Measure Date Value
2021 : VICTORIA MOTORS EMPLOYEE BENEFITS PLAN 2021 401k financial data
Total plan liabilities at end of year2021-12-31$20,670
Total income from all sources2021-12-31$359,914
Expenses. Total of all expenses incurred2021-12-31$395,951
Benefits paid (including direct rollovers)2021-12-31$358,518
Total plan assets at end of year2021-12-31$0
Total plan assets at beginning of year2021-12-31$15,367
Value of fidelity bond covering the plan2021-12-31$100,000
Total contributions received or receivable from participants2021-12-31$126,544
Expenses. Other expenses not covered elsewhere2021-12-31$5,817
Net income (gross income less expenses)2021-12-31$-36,037
Net plan assets at end of year (total assets less liabilities)2021-12-31$-20,670
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$15,367
Total contributions received or receivable from employer(s)2021-12-31$233,370
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$31,616
2020 : VICTORIA MOTORS EMPLOYEE BENEFITS PLAN 2020 401k financial data
Total income from all sources2020-12-31$224,083
Expenses. Total of all expenses incurred2020-12-31$208,716
Benefits paid (including direct rollovers)2020-12-31$170,311
Total plan assets at end of year2020-12-31$15,367
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$133,767
Expenses. Other expenses not covered elsewhere2020-12-31$5,645
Net income (gross income less expenses)2020-12-31$15,367
Net plan assets at end of year (total assets less liabilities)2020-12-31$15,367
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$90,316
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$32,760

Form 5500 Responses for VICTORIA MOTORS EMPLOYEE BENEFITS PLAN

2021: VICTORIA MOTORS 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: VICTORIA MOTORS 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 number00566957
Policy instance 1
Insurance contract or identification number00566957
Number of Individuals Covered35
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $6,685
Total amount of fees paid to insurance companyUSD $344
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 $34,558
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?Yes
Commission paid to Insurance BrokerUSD $5,340
Insurance broker organization code?3
Amount paid for insurance broker fees344
THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA (National Association of Insurance Commissioners NAIC id number: 64246 )
Policy contract number00566957
Policy instance 1
Insurance contract or identification number00566957
Number of Individuals Covered37
Insurance policy start date2020-01-01
Insurance policy end date2020-12-31
Total amount of commissions paid to insurance brokerUSD $7,637
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 $38,404
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $7,367
Insurance broker organization code?3
THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA (National Association of Insurance Commissioners NAIC id number: 64246 )
Policy contract number00566958
Policy instance 2
Insurance contract or identification number00566958
Number of Individuals Covered3
Insurance policy start date2020-01-01
Insurance policy end date2020-02-28
Total amount of commissions paid to insurance brokerUSD $53
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 BenefitNo
Long Term Disability Insurance Welfare BenefitNo
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 $283
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $51
Insurance broker organization code?3

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