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BABB, INC. PROFIT SHARING PLAN 401k Plan overview

Plan NameBABB, INC. PROFIT SHARING PLAN
Plan identification number 001

BABB, INC. PROFIT SHARING 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.
  • 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.
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

BABB, INC has sponsored the creation of one or more 401k plans.

Company Name:BABB, INC
Employer identification number (EIN):251102236
NAIC Classification:524210
NAIC Description:Insurance Agencies and Brokerages

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BABB, INC. PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01PLAN SPONSOR2023-07-10
0012021-01-01PLAN SPONSOR2022-06-29
0012020-01-01PLAN SPONSOR2021-06-30
0012019-01-01PLAN SPONSOR2020-05-11
0012018-01-01PLAN SPONSOR2019-07-29
0012017-01-01PLAN SPONSOR2018-05-11
0012016-01-01PLAN SPONSOR2017-05-05
0012015-01-01PLAN SPONSOR2016-10-05
0012014-01-01CHESTER SANDERSON2015-06-09
0012013-01-01CHESTER SANDERSON2014-10-17
0012012-01-01C H SANDERSON2013-10-09 C H SANDERSON2013-10-09
0012011-01-01C H SANDERSON C H SANDERSON2012-05-16
0012010-01-01C H SANDERSON
0012009-01-01CHESTER SANDERSON
0012009-01-01CHESTER SANDERSON

Plan Statistics for BABB, INC. PROFIT SHARING PLAN

401k plan membership statisitcs for BABB, INC. PROFIT SHARING PLAN

Measure Date Value
2011: BABB, INC. PROFIT SHARING PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-0173
Total number of active participants reported on line 7a of the Form 55002011-01-0168
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-019
Total of all active and inactive participants2011-01-0177
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-0177
Number of participants with account balances2011-01-0165
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-010
2010: BABB, INC. PROFIT SHARING PLAN 2010 401k membership
Total participants, beginning-of-year2010-01-0172
Total number of active participants reported on line 7a of the Form 55002010-01-0160
Number of retired or separated participants receiving benefits2010-01-010
Number of other retired or separated participants entitled to future benefits2010-01-0112
Total of all active and inactive participants2010-01-0172
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-010
Total participants2010-01-0172
Number of participants with account balances2010-01-0172
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-010
2009: BABB, INC. PROFIT SHARING PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-0167
Total number of active participants reported on line 7a of the Form 55002009-01-0158
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-0113
Total of all active and inactive participants2009-01-0171
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-0171
Number of participants with account balances2009-01-0171
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

Financial Data on BABB, INC. PROFIT SHARING PLAN

Measure Date Value
2011 : BABB, INC. PROFIT SHARING PLAN 2011 401k financial data
Total income from all sources2011-12-31$215,692
Expenses. Total of all expenses incurred2011-12-31$376,126
Benefits paid (including direct rollovers)2011-12-31$374,149
Total plan assets at end of year2011-12-31$4,810,498
Total plan assets at beginning of year2011-12-31$4,970,932
Value of fidelity bond covering the plan2011-12-31$1,000,000
Total contributions received or receivable from participants2011-12-31$254,408
Contributions received from other sources (not participants or employers)2011-12-31$38,627
Other income received2011-12-31$-77,343
Net income (gross income less expenses)2011-12-31$-160,434
Net plan assets at end of year (total assets less liabilities)2011-12-31$4,810,498
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$4,970,932
Assets. Value of participant loans2011-12-31$45,958
Value of certain deemed distributions of participant loans2011-12-31$-51
Value of corrective distributions2011-12-31$1,647
Expenses. Administrative service providers (salaries,fees and commissions)2011-12-31$381
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
2010 : BABB, INC. PROFIT SHARING PLAN 2010 401k financial data
Total income from all sources2010-12-31$740,357
Expenses. Total of all expenses incurred2010-12-31$186,976
Benefits paid (including direct rollovers)2010-12-31$186,565
Total plan assets at end of year2010-12-31$4,970,932
Total plan assets at beginning of year2010-12-31$4,417,551
Value of fidelity bond covering the plan2010-12-31$1,000,000
Total contributions received or receivable from participants2010-12-31$255,280
Other income received2010-12-31$464,080
Net income (gross income less expenses)2010-12-31$553,381
Net plan assets at end of year (total assets less liabilities)2010-12-31$4,970,932
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$4,417,551
Assets. Value of participant loans2010-12-31$35,151
Total contributions received or receivable from employer(s)2010-12-31$20,997
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-31$411
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
2009 : BABB, INC. PROFIT SHARING PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for BABB, INC. PROFIT SHARING PLAN

2011: BABB, INC. PROFIT SHARING PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedNo
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – InsuranceYes
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement – InsuranceYes
2011-01-01Plan benefit arrangement - TrustYes
2010: BABB, INC. PROFIT SHARING PLAN 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedNo
2010-01-01This submission is the final filingNo
2010-01-01This return/report is a short plan year return/report (less than 12 months)No
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – InsuranceYes
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement – InsuranceYes
2010-01-01Plan benefit arrangement - TrustYes
2009: BABB, INC. PROFIT SHARING PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – InsuranceYes
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement – InsuranceYes
2009-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 93629 )
Policy contract number007609
Policy instance 1
Insurance contract or identification number007609
Number of Individuals Covered77
Insurance policy start date2011-01-01
Insurance policy end date2011-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Are there contracts with allocated funds for individual policies?No
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
PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 93629 )
Policy contract number007609
Policy instance 1
Insurance contract or identification number007609
Number of Individuals Covered72
Insurance policy start date2010-01-01
Insurance policy end date2010-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Are there contracts with allocated funds for individual policies?No
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

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