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CHESROWN CHEVROLET BUICK GMC 401K PLAN 401k Plan overview

Plan NameCHESROWN CHEVROLET BUICK GMC 401K PLAN
Plan identification number 001

CHESROWN CHEVROLET BUICK GMC 401K 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

CHESROWN CHEVROLET BUICK GMC, INC. has sponsored the creation of one or more 401k plans.

Company Name:CHESROWN CHEVROLET BUICK GMC, INC.
Employer identification number (EIN):311029587
NAIC Classification:441110
NAIC Description:New Car Dealers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CHESROWN CHEVROLET BUICK GMC 401K PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012021-01-01
0012020-01-01
0012019-01-01
0012018-01-01KIMBERLY BLOOM2019-10-14
0012017-01-01KIMBERLY BLOOM2018-10-10
0012016-01-01JAMES GILL2017-10-12
0012015-01-01JAMES GILL2016-06-21
0012014-01-01JAMES GILL2015-07-09
0012013-01-01JAMES GILL2014-09-11
0012012-01-01JAMES GILL2013-10-14
0012011-01-01JAMES GILL
0012009-01-01JAMES GILL

Plan Statistics for CHESROWN CHEVROLET BUICK GMC 401K PLAN

401k plan membership statisitcs for CHESROWN CHEVROLET BUICK GMC 401K PLAN

Measure Date Value
2020: CHESROWN CHEVROLET BUICK GMC 401K PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-01109
Total number of active participants reported on line 7a of the Form 55002020-01-0171
Number of retired or separated participants receiving benefits2020-01-014
Number of other retired or separated participants entitled to future benefits2020-01-0114
Total of all active and inactive participants2020-01-0189
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-0189
Number of participants with account balances2020-01-0162
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-016
2019: CHESROWN CHEVROLET BUICK GMC 401K PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-01123
Total number of active participants reported on line 7a of the Form 55002019-01-0191
Number of retired or separated participants receiving benefits2019-01-011
Number of other retired or separated participants entitled to future benefits2019-01-0113
Total of all active and inactive participants2019-01-01105
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-01105
Number of participants with account balances2019-01-0159
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-012
2011: CHESROWN CHEVROLET BUICK GMC 401K PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-0136
Total number of active participants reported on line 7a of the Form 55002011-01-0127
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-018
Total of all active and inactive participants2011-01-0135
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-0135
Number of participants with account balances2011-01-0126
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-010
2009: CHESROWN CHEVROLET BUICK GMC 401K PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-0143
Total number of active participants reported on line 7a of the Form 55002009-01-0124
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-017
Total of all active and inactive participants2009-01-0131
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-0131
Number of participants with account balances2009-01-0127
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-016

Financial Data on CHESROWN CHEVROLET BUICK GMC 401K PLAN

Measure Date Value
2020 : CHESROWN CHEVROLET BUICK GMC 401K PLAN 2020 401k financial data
Total unrealized appreciation/depreciation of assets2020-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$1,823
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$13,858
Total income from all sources (including contributions)2020-12-31$691,823
Total loss/gain on sale of assets2020-12-31$0
Total of all expenses incurred2020-12-31$291,777
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-12-31$257,668
Expenses. Certain deemed distributions of participant loans2020-12-31$4,339
Value of total corrective distributions2020-12-31$13,858
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-12-31$346,009
Value of total assets at end of year2020-12-31$3,056,337
Value of total assets at beginning of year2020-12-31$2,668,326
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-12-31$15,912
Total interest from all sources2020-12-31$4,792
Total dividends received (eg from common stock, registered investment company shares)2020-12-31$88,724
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2020-12-31$88,724
Was this plan covered by a fidelity bond2020-12-31Yes
Value of fidelity bond cover2020-12-31$250,000
If this is an individual account plan, was there a blackout period2020-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
Were there any nonexempt tranactions with any party-in-interest2020-12-31No
Contributions received from participants2020-12-31$273,872
Participant contributions at end of year2020-12-31$83,915
Participant contributions at beginning of year2020-12-31$74,256
Income. Received or receivable in cash from other sources (including rollovers)2020-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at end of year2020-12-31$2,563
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2020-12-31$290
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2020-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2020-12-31$13,858
Other income not declared elsewhere2020-12-31$13,858
Administrative expenses (other) incurred2020-12-31$6,910
Liabilities. Value of operating payables at end of year2020-12-31$300
Liabilities. Value of operating payables at beginning of year2020-12-31$0
Total non interest bearing cash at end of year2020-12-31$6,958
Total non interest bearing cash at beginning of year2020-12-31$4,497
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Value of net income/loss2020-12-31$400,046
Value of net assets at end of year (total assets less liabilities)2020-12-31$3,054,514
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$2,654,468
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2020-12-31No
Were any leases to which the plan was party in default or uncollectible2020-12-31No
Investment advisory and management fees2020-12-31$9,002
Value of interest in registered invesment companies (eg mutual funds) at end of year2020-12-31$2,761,206
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2020-12-31$2,439,847
Interest on participant loans2020-12-31$4,792
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2020-12-31$201,695
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2020-12-31$149,436
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2020-12-31$149,436
Net investment gain/loss from registered investment companies (e.g. mutual funds)2020-12-31$238,440
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-12-31No
Was there a failure to transmit to the plan any participant contributions2020-12-31No
Has the plan failed to provide any benefit when due under the plan2020-12-31No
Contributions received in cash from employer2020-12-31$72,137
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-12-31$257,668
Liabilities. Value of benefit claims payable at end of year2020-12-31$1,523
Liabilities. Value of benefit claims payable at beginning of year2020-12-31$0
Did the plan have assets held for investment2020-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-12-31No
Opinion of an independent qualified public accountant for this plan2020-12-31Disclaimer
Accountancy firm name2020-12-31DIXON HUGHES GOODMAN LLP
Accountancy firm EIN2020-12-31560747981
2019 : CHESROWN CHEVROLET BUICK GMC 401K PLAN 2019 401k financial data
Total unrealized appreciation/depreciation of assets2019-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$13,858
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$0
Total income from all sources (including contributions)2019-12-31$751,936
Total loss/gain on sale of assets2019-12-31$0
Total of all expenses incurred2019-12-31$139,200
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-12-31$107,052
Expenses. Certain deemed distributions of participant loans2019-12-31$19,185
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-12-31$336,449
Value of total assets at end of year2019-12-31$2,668,326
Value of total assets at beginning of year2019-12-31$2,041,732
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-12-31$12,963
Total interest from all sources2019-12-31$4,633
Total dividends received (eg from common stock, registered investment company shares)2019-12-31$70,253
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2019-12-31$70,253
Administrative expenses professional fees incurred2019-12-31$5,169
Was this plan covered by a fidelity bond2019-12-31Yes
Value of fidelity bond cover2019-12-31$250,000
If this is an individual account plan, was there a blackout period2019-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
Were there any nonexempt tranactions with any party-in-interest2019-12-31No
Contributions received from participants2019-12-31$261,078
Participant contributions at end of year2019-12-31$74,256
Participant contributions at beginning of year2019-12-31$68,974
Income. Received or receivable in cash from other sources (including rollovers)2019-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at end of year2019-12-31$290
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2019-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2019-12-31$13,858
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2019-12-31$0
Total non interest bearing cash at end of year2019-12-31$4,497
Total non interest bearing cash at beginning of year2019-12-31$4,866
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Value of net income/loss2019-12-31$612,736
Value of net assets at end of year (total assets less liabilities)2019-12-31$2,654,468
Value of net assets at beginning of year (total assets less liabilities)2019-12-31$2,041,732
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2019-12-31No
Were any leases to which the plan was party in default or uncollectible2019-12-31No
Investment advisory and management fees2019-12-31$7,794
Value of interest in registered invesment companies (eg mutual funds) at end of year2019-12-31$2,439,847
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2019-12-31$1,838,494
Interest on participant loans2019-12-31$4,633
Interest earned on other investments2019-12-31$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2019-12-31$149,436
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2019-12-31$129,398
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2019-12-31$129,398
Net investment gain/loss from registered investment companies (e.g. mutual funds)2019-12-31$340,601
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-12-31No
Was there a failure to transmit to the plan any participant contributions2019-12-31No
Has the plan failed to provide any benefit when due under the plan2019-12-31No
Contributions received in cash from employer2019-12-31$75,371
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-12-31$107,052
Did the plan have assets held for investment2019-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2019-12-31Yes
Opinion of an independent qualified public accountant for this plan2019-12-31Disclaimer
Accountancy firm name2019-12-31DIXON HUGHES GOODMAN LLP
Accountancy firm EIN2019-12-31560747981
2011 : CHESROWN CHEVROLET BUICK GMC 401K PLAN 2011 401k financial data
Total income from all sources2011-12-31$48,336
Expenses. Total of all expenses incurred2011-12-31$64,330
Benefits paid (including direct rollovers)2011-12-31$63,330
Total plan assets at end of year2011-12-31$495,229
Total plan assets at beginning of year2011-12-31$511,223
Value of fidelity bond covering the plan2011-12-31$500,000
Total contributions received or receivable from participants2011-12-31$75,799
Other income received2011-12-31$-27,463
Net income (gross income less expenses)2011-12-31$-15,994
Net plan assets at end of year (total assets less liabilities)2011-12-31$495,229
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$511,223
Assets. Value of participant loans2011-12-31$12,329
Value of certain deemed distributions of participant loans2011-12-31$1,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
2010 : CHESROWN CHEVROLET BUICK GMC 401K PLAN 2010 401k financial data
Total income from all sources2010-12-31$100,289
Expenses. Total of all expenses incurred2010-12-31$138,702
Benefits paid (including direct rollovers)2010-12-31$138,702
Total plan assets at end of year2010-12-31$511,223
Total plan assets at beginning of year2010-12-31$549,636
Value of fidelity bond covering the plan2010-12-31$500,000
Total contributions received or receivable from participants2010-12-31$36,800
Other income received2010-12-31$63,489
Net income (gross income less expenses)2010-12-31$-38,413
Net plan assets at end of year (total assets less liabilities)2010-12-31$511,223
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$549,636
Assets. Value of participant loans2010-12-31$16,154
Total contributions received or receivable from employer(s)2010-12-31$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
2009 : CHESROWN CHEVROLET BUICK GMC 401K 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 CHESROWN CHEVROLET BUICK GMC 401K PLAN

2020: CHESROWN CHEVROLET BUICK GMC 401K 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: CHESROWN CHEVROLET BUICK GMC 401K PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
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
2011: CHESROWN CHEVROLET BUICK GMC 401K 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
2009: CHESROWN CHEVROLET BUICK GMC 401K 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

NATIONWIDE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66869 )
Policy contract numberGAP-B2-QD48
Policy instance 1
Insurance contract or identification numberGAP-B2-QD48
Number of Individuals Covered26
Insurance policy start date2011-01-01
Insurance policy end date2011-12-31
Total amount of commissions paid to insurance brokerUSD $4
Total amount of fees paid to insurance companyUSD $1
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?Yes
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 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
NATIONWIDE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66869 )
Policy contract numberGAP-B2-QD48
Policy instance 1
Insurance contract or identification numberGAP-B2-QD48
Number of Individuals Covered36
Insurance policy start date2010-01-01
Insurance policy end date2010-12-31
Total amount of commissions paid to insurance brokerUSD $1
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?Yes
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 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 $1
Amount paid for insurance broker fees0
Additional information about fees paid to insurance brokerADMINISTRATIVE
Insurance broker organization code?3
Insurance broker nameEDWARD SOMMER

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