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401k Plan overview

Plan NamePAASCHE AIRBRUSH CO. 401K SAVINGS PLAN
Plan identification number 003

PAASCHE AIRBRUSH CO. 401K SAVINGS PLAN 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.
  • 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

PAASCHE AIRBRUSH CO has sponsored the creation of one or more 401k plans.

Company Name:PAASCHE AIRBRUSH CO
Employer identification number (EIN):361591460
NAIC Classification:332210

Additional information about PAASCHE AIRBRUSH CO

Jurisdiction of Incorporation: State of Delaware Division of Corporations
Incorporation Date: 1916-05-20
Company Identification Number: 0053726
Legal Registered Office Address: Corporation Trust Center
1209 Orange St
Wilmington
United States of America (USA)
19801

More information about PAASCHE AIRBRUSH CO

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PAASCHE AIRBRUSH CO. 401K SAVINGS PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032018-01-01STEVEN PETTERSEN2019-04-11 VALLIE PETTERSEN2019-04-11
0032017-01-01STEVEN PETTERSEN2018-09-25 VALLIE PETTERSEN2018-09-25
0032016-01-01STEVEN PETTERSEN2017-07-17 VALLIE PETTERSEN2017-07-18
0032013-01-01STEVEN PETTERSEN2014-07-22 VALLIE PETTERSEN2014-07-23
0032012-01-01STEVEN PETTERSEN2013-07-24 VALLIE PETTERSEN2013-07-24
0032011-01-01STEVEN PETTERSEN2012-07-12 VALLIE PETTERSEN2012-07-12
0032010-01-01STEVEN PETTERSEN VALLIE PETTERSEN2011-08-25
0032009-01-01STEVEN PETTERSEN VALLIE PETTERSEN2010-09-29

Plan Statistics for PAASCHE AIRBRUSH CO. 401K SAVINGS PLAN

401k plan membership statisitcs for PAASCHE AIRBRUSH CO. 401K SAVINGS PLAN

Measure Date Value
2010
Total participants, beginning-of-year2010-01-0142
Total number of active participants reported on line 7a of the Form 55002010-01-0132
Number of retired or separated participants receiving benefits2010-01-010
Number of other retired or separated participants entitled to future benefits2010-01-018
Total of all active and inactive participants2010-01-0140
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-010
Total participants2010-01-0140
Number of participants with account balances2010-01-0140
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-010
2009
Total participants, beginning-of-year2009-01-0144
Total number of active participants reported on line 7a of the Form 55002009-01-0136
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-016
Total of all active and inactive participants2009-01-0142
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-0142
Number of participants with account balances2009-01-0141
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

Financial Data on PAASCHE AIRBRUSH CO. 401K SAVINGS PLAN

Measure Date Value
2010
Total plan liabilities at beginning of year2010-12-31$0
Total income from all sources2010-12-31$372,134
Expenses. Total of all expenses incurred2010-12-31$62,958
Benefits paid (including direct rollovers)2010-12-31$61,574
Total plan assets at end of year2010-12-31$2,229,751
Total plan assets at beginning of year2010-12-31$1,920,575
Value of fidelity bond covering the plan2010-12-31$250,000
Total contributions received or receivable from participants2010-12-31$130,292
Other income received2010-12-31$206,441
Net income (gross income less expenses)2010-12-31$309,176
Net plan assets at end of year (total assets less liabilities)2010-12-31$2,229,751
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$1,920,575
Total contributions received or receivable from employer(s)2010-12-31$35,401
Value of corrective distributions2010-12-31$834
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-31$550
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
2009
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses

2010
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
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedYes
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

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number4-34880
Policy instance 1
Insurance contract or identification number4-34880
Number of Individuals Covered0
Insurance policy start date2010-01-01
Insurance policy end date2010-10-22
Total amount of commissions paid to insurance brokerUSD $291
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
Commission paid to Insurance BrokerUSD $291
Amount paid for insurance broker fees0
Additional information about fees paid to insurance brokerNONE
Insurance broker organization code?3
Insurance broker nameNETWORK AGENCY INC.

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