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RACINE EDUCATORS UNITED RETIREMENT PLAN 401k Plan overview

Plan NameRACINE EDUCATORS UNITED RETIREMENT PLAN
Plan identification number 001

RACINE EDUCATORS UNITED RETIREMENT 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

RACINE EDUCATORS UNITED has sponsored the creation of one or more 401k plans.

Company Name:RACINE EDUCATORS UNITED
Employer identification number (EIN):211278445
NAIC Classification:522130
NAIC Description:Credit Unions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan RACINE EDUCATORS UNITED RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012021-09-01RYAN KNUDSON2023-06-23
0012020-09-01RYAN KNUDSON2022-03-24
0012019-09-01RYAN KNUDSON2021-06-02
0012018-09-01

Plan Statistics for RACINE EDUCATORS UNITED RETIREMENT PLAN

401k plan membership statisitcs for RACINE EDUCATORS UNITED RETIREMENT PLAN

Measure Date Value
2018: RACINE EDUCATORS UNITED RETIREMENT PLAN 2018 401k membership
Total participants, beginning-of-year2018-09-013
Total number of active participants reported on line 7a of the Form 55002018-09-012
Number of retired or separated participants receiving benefits2018-09-010
Number of other retired or separated participants entitled to future benefits2018-09-011
Total of all active and inactive participants2018-09-013
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-09-010
Total participants2018-09-013
Number of participants with account balances2018-09-013
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-09-010

Financial Data on RACINE EDUCATORS UNITED RETIREMENT PLAN

Measure Date Value
2019 : RACINE EDUCATORS UNITED RETIREMENT PLAN 2019 401k financial data
Total income from all sources2019-08-31$38,755
Expenses. Total of all expenses incurred2019-08-31$135
Benefits paid (including direct rollovers)2019-08-31$0
Total plan assets at end of year2019-08-31$38,620
Total plan assets at beginning of year2019-08-31$0
Total contributions received or receivable from participants2019-08-31$2,639
Expenses. Other expenses not covered elsewhere2019-08-31$0
Contributions received from other sources (not participants or employers)2019-08-31$0
Other income received2019-08-31$-648
Noncash contributions received2019-08-31$0
Net income (gross income less expenses)2019-08-31$38,620
Net plan assets at end of year (total assets less liabilities)2019-08-31$38,620
Net plan assets at beginning of year (total assets less liabilities)2019-08-31$0
Total contributions received or receivable from employer(s)2019-08-31$36,764
Value of certain deemed distributions of participant loans2019-08-31$0
Value of corrective distributions2019-08-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2019-08-31$135
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-08-31$0

Form 5500 Responses for RACINE EDUCATORS UNITED RETIREMENT PLAN

2018: RACINE EDUCATORS UNITED RETIREMENT PLAN 2018 form 5500 responses
2018-09-01Type of plan entitySingle employer plan
2018-09-01First time form 5500 has been submittedYes
2018-09-01Submission has been amendedNo
2018-09-01This submission is the final filingNo
2018-09-01This return/report is a short plan year return/report (less than 12 months)No
2018-09-01Plan is a collectively bargained planNo
2018-09-01Plan funding arrangement – InsuranceYes
2018-09-01Plan funding arrangement – TrustYes
2018-09-01Plan benefit arrangement – InsuranceYes
2018-09-01Plan 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 number139862
Policy instance 1
Insurance contract or identification number139862
Number of Individuals Covered3
Insurance policy start date2018-09-01
Insurance policy end date2019-08-31
Total amount of commissions paid to insurance brokerUSD $50
Total amount of fees paid to insurance companyUSD $376
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?Yes
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $0
Amount paid for insurance broker fees376
Additional information about fees paid to insurance brokerTPA COMPENSATION
Insurance broker organization code?5

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