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PRIME SOURCE PURCHASING INC 401(K) PROFIT SHARING PLAN & TRUST 401k Plan overview

Plan NamePRIME SOURCE PURCHASING INC 401(K) PROFIT SHARING PLAN & TRUST
Plan identification number 001

PRIME SOURCE PURCHASING INC 401(K) PROFIT SHARING PLAN & TRUST 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.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Plan covering Self-Employed individuals.
  • 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

PRIME SOURCE PURCHASING INC has sponsored the creation of one or more 401k plans.

Company Name:PRIME SOURCE PURCHASING INC
Employer identification number (EIN):223561256
NAIC Classification:541990
NAIC Description:All Other Professional, Scientific, and Technical Services

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PRIME SOURCE PURCHASING INC 401(K) PROFIT SHARING PLAN & TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01MICHAEL MARINO2023-07-06
0012021-01-01MICHAEL MARINO2022-05-26
0012020-01-01MICHAEL MARINO2021-09-24
0012019-01-01MICHAEL MARINO2020-08-05
0012018-01-01MICHAEL MARINO2019-08-05
0012017-01-01MICHAEL MARINO2018-07-19
0012016-01-01MICHAEL MARINO2017-07-26
0012014-01-01MICHAEL MARINO
0012013-01-01MICHAEL MARINO2014-06-19
0012012-02-01MICHAEL MARINO2015-09-08

Plan Statistics for PRIME SOURCE PURCHASING INC 401(K) PROFIT SHARING PLAN & TRUST

401k plan membership statisitcs for PRIME SOURCE PURCHASING INC 401(K) PROFIT SHARING PLAN & TRUST

Measure Date Value
2014: PRIME SOURCE PURCHASING INC 401(K) PROFIT SHARING PLAN & TRUST 2014 401k membership
Total participants, beginning-of-year2014-01-018
Total number of active participants reported on line 7a of the Form 55002014-01-0111
Number of retired or separated participants receiving benefits2014-01-010
Number of other retired or separated participants entitled to future benefits2014-01-010
Total of all active and inactive participants2014-01-0111
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-0111
Number of participants with account balances2014-01-018
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-010

Financial Data on PRIME SOURCE PURCHASING INC 401(K) PROFIT SHARING PLAN & TRUST

Measure Date Value
2014 : PRIME SOURCE PURCHASING INC 401(K) PROFIT SHARING PLAN & TRUST 2014 401k financial data
Transfers to/from the plan2014-12-31$0
Total plan liabilities at end of year2014-12-31$0
Total plan liabilities at beginning of year2014-12-31$0
Total income from all sources2014-12-31$112,404
Expenses. Total of all expenses incurred2014-12-31$0
Benefits paid (including direct rollovers)2014-12-31$0
Total plan assets at end of year2014-12-31$272,006
Total plan assets at beginning of year2014-12-31$159,602
Value of fidelity bond covering the plan2014-12-31$0
Total contributions received or receivable from participants2014-12-31$82,755
Expenses. Other expenses not covered elsewhere2014-12-31$0
Contributions received from other sources (not participants or employers)2014-12-31$0
Other income received2014-12-31$-743
Net income (gross income less expenses)2014-12-31$112,404
Net plan assets at end of year (total assets less liabilities)2014-12-31$272,006
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$159,602
Total contributions received or receivable from employer(s)2014-12-31$30,392
Value of certain deemed distributions of participant loans2014-12-31$0
Value of corrective distributions2014-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2014-12-31$0

Form 5500 Responses for PRIME SOURCE PURCHASING INC 401(K) PROFIT SHARING PLAN & TRUST

2014: PRIME SOURCE PURCHASING INC 401(K) PROFIT SHARING PLAN & TRUST 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Submission has been amendedNo
2014-01-01This submission is the final filingNo
2014-01-01This return/report is a short plan year return/report (less than 12 months)No
2014-01-01Plan is a collectively bargained planNo
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement - TrustYes

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