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BLUE SEA EDUCATIONAL CONSULTING INC. 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameBLUE SEA EDUCATIONAL CONSULTING INC. 401(K) PROFIT SHARING PLAN
Plan identification number 001

BLUE SEA EDUCATIONAL CONSULTING INC. 401(K) 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.
  • 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

BLUE SEA EDUCATIONAL CONSULTING INC. has sponsored the creation of one or more 401k plans.

Company Name:BLUE SEA EDUCATIONAL CONSULTING INC.
Employer identification number (EIN):271856220
NAIC Classification:611000

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BLUE SEA EDUCATIONAL CONSULTING INC. 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01NICHOLAS MORTATI2023-05-23
0012021-01-01NICHOLAS MORTATI2022-03-24
0012020-01-01
0012019-01-01

Plan Statistics for BLUE SEA EDUCATIONAL CONSULTING INC. 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for BLUE SEA EDUCATIONAL CONSULTING INC. 401(K) PROFIT SHARING PLAN

Measure Date Value
2020: BLUE SEA EDUCATIONAL CONSULTING INC. 401(K) PROFIT SHARING PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-019
Total number of active participants reported on line 7a of the Form 55002020-01-018
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-012
Total of all active and inactive participants2020-01-0110
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-0110
Number of participants with account balances2020-01-0110
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: BLUE SEA EDUCATIONAL CONSULTING INC. 401(K) PROFIT SHARING PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-016
Total number of active participants reported on line 7a of the Form 55002019-01-019
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-010
Total of all active and inactive participants2019-01-019
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-019
Number of participants with account balances2019-01-019
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010

Financial Data on BLUE SEA EDUCATIONAL CONSULTING INC. 401(K) PROFIT SHARING PLAN

Measure Date Value
2020 : BLUE SEA EDUCATIONAL CONSULTING INC. 401(K) PROFIT SHARING PLAN 2020 401k financial data
Total plan liabilities at end of year2020-12-31$0
Total plan liabilities at beginning of year2020-12-31$0
Total income from all sources2020-12-31$83,446
Expenses. Total of all expenses incurred2020-12-31$736
Total plan assets at end of year2020-12-31$202,398
Total plan assets at beginning of year2020-12-31$119,688
Total contributions received or receivable from participants2020-12-31$39,220
Other income received2020-12-31$23,044
Net income (gross income less expenses)2020-12-31$82,710
Net plan assets at end of year (total assets less liabilities)2020-12-31$202,398
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$119,688
Total contributions received or receivable from employer(s)2020-12-31$21,182
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$736
2019 : BLUE SEA EDUCATIONAL CONSULTING INC. 401(K) PROFIT SHARING PLAN 2019 401k financial data
Total plan liabilities at end of year2019-12-31$0
Total income from all sources2019-12-31$119,804
Expenses. Total of all expenses incurred2019-12-31$116
Total plan assets at end of year2019-12-31$119,688
Total contributions received or receivable from participants2019-12-31$25,607
Contributions received from other sources (not participants or employers)2019-12-31$70,526
Other income received2019-12-31$3,274
Net income (gross income less expenses)2019-12-31$119,688
Net plan assets at end of year (total assets less liabilities)2019-12-31$119,688
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$0
Total contributions received or receivable from employer(s)2019-12-31$20,397
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$116

Form 5500 Responses for BLUE SEA EDUCATIONAL CONSULTING INC. 401(K) PROFIT SHARING PLAN

2020: BLUE SEA EDUCATIONAL CONSULTING INC. 401(K) PROFIT SHARING PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
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 – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: BLUE SEA EDUCATIONAL CONSULTING INC. 401(K) PROFIT SHARING PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01First time form 5500 has been submittedYes
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

JOHN HANCOCK LIFE INSURANCE COMPANY OF NEW YORK (National Association of Insurance Commissioners NAIC id number: 86375 )
Policy contract number802256
Policy instance 1
Insurance contract or identification number802256
Number of Individuals Covered10
Insurance policy start date2020-01-01
Insurance policy end date2020-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $674
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
Amount paid for insurance broker fees674
Additional information about fees paid to insurance brokerTPA COMPENSATION
Insurance broker organization code?5
JOHN HANCOCK LIFE INSURANCE COMPANY OF NEW YORK (National Association of Insurance Commissioners NAIC id number: 86375 )
Policy contract number802256
Policy instance 1
Insurance contract or identification number802256
Number of Individuals Covered9
Insurance policy start date2019-10-07
Insurance policy end date2019-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $346
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
Amount paid for insurance broker fees346
Additional information about fees paid to insurance brokerTPA COMPENSATION
Insurance broker organization code?5

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