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SCHMID TOOL & ENGINEERING CORP. PROFIT SHARING PLAN AND TRUST 401k Plan overview

Plan NameSCHMID TOOL & ENGINEERING CORP. PROFIT SHARING PLAN AND TRUST
Plan identification number 001

SCHMID TOOL & ENGINEERING CORP. PROFIT SHARING PLAN AND TRUST 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.
  • Plan sponsor(s) received services of leased employees, as defined in Code section 414(n), during the plan year.

401k Sponsoring company profile

SCHMID TOOL & ENGINEERING CORP. has sponsored the creation of one or more 401k plans.

Company Name:SCHMID TOOL & ENGINEERING CORP.
Employer identification number (EIN):362061466
NAIC Classification:339900

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SCHMID TOOL & ENGINEERING CORP. PROFIT SHARING PLAN AND TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012021-01-01
0012020-01-01HEIDI SCHAEFER2021-06-22
0012019-01-01HEIDI SCHAEFER2020-04-14 HEIDI SCHAEFER2020-04-14
0012018-01-01HEIDI SCHAEFER2019-05-30 HEIDI SCHAEFER2019-05-30
0012017-01-01HEIDI SCHAEFER2018-03-01 HEIDI SCHAEFER2018-03-01
0012016-01-01HEIDI SCHAEFER2017-04-04 HEIDI SCHAEFER2017-04-04
0012015-01-01HEIDI SCHAEFER2016-10-06 HEIDI SCHAEFER2016-10-06
0012014-01-01HEIDI SCHAEFER2015-05-13 HEIDI SCHAEFER2015-05-13
0012013-01-01HEIDI LEAHY2014-04-28 HEIDI LEAHY2014-04-28
0012012-01-01HEIDI LEAHY2013-04-09 HEIDI LEAHY2013-04-09
0012011-01-01HEIDI LEAHY HEIDI LEAHY2012-07-12

Plan Statistics for SCHMID TOOL & ENGINEERING CORP. PROFIT SHARING PLAN AND TRUST

401k plan membership statisitcs for SCHMID TOOL & ENGINEERING CORP. PROFIT SHARING PLAN AND TRUST

Measure Date Value
2022: SCHMID TOOL & ENGINEERING CORP. PROFIT SHARING PLAN AND TRUST 2022 401k membership
Total participants, beginning-of-year2022-01-01159
Total number of active participants reported on line 7a of the Form 55002022-01-01100
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-0124
Total of all active and inactive participants2022-01-01124
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01124
Number of participants with account balances2022-01-01120
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-0110
2021: SCHMID TOOL & ENGINEERING CORP. PROFIT SHARING PLAN AND TRUST 2021 401k membership
Total participants, beginning-of-year2021-01-01125
Total number of active participants reported on line 7a of the Form 55002021-01-01118
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-0136
Total of all active and inactive participants2021-01-01154
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-01154
Number of participants with account balances2021-01-01154
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-0120
2011: SCHMID TOOL & ENGINEERING CORP. PROFIT SHARING PLAN AND TRUST 2011 401k membership
Total participants, beginning-of-year2011-01-0129
Total number of active participants reported on line 7a of the Form 55002011-01-0125
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-014
Total of all active and inactive participants2011-01-0129
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-0129
Number of participants with account balances2011-01-0129
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-011

Financial Data on SCHMID TOOL & ENGINEERING CORP. PROFIT SHARING PLAN AND TRUST

Measure Date Value
2022 : SCHMID TOOL & ENGINEERING CORP. PROFIT SHARING PLAN AND TRUST 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$3,744
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$9,331
Total income from all sources (including contributions)2022-12-31$105,023
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$161,515
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$134,621
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$729,390
Value of total assets at end of year2022-12-31$4,134,671
Value of total assets at beginning of year2022-12-31$4,196,750
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$26,894
Total interest from all sources2022-12-31$18,607
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$250,000
If this is an individual account plan, was there a blackout period2022-12-31Yes
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$252,395
Participant contributions at end of year2022-12-31$64,315
Participant contributions at beginning of year2022-12-31$50,126
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$158,405
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2022-12-31$779
Other income not declared elsewhere2022-12-31$112,029
Administrative expenses (other) incurred2022-12-31$26,894
Liabilities. Value of operating payables at beginning of year2022-12-31$95
Total non interest bearing cash at end of year2022-12-31$33,055
Total non interest bearing cash at beginning of year2022-12-31$17,870
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-56,492
Value of net assets at end of year (total assets less liabilities)2022-12-31$4,130,927
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$4,187,419
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-12-31$3,718,711
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$3,788,319
Interest on participant loans2022-12-31$2,897
Interest earned on other investments2022-12-31$14,705
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2022-12-31$0
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2022-12-31$2,616
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2022-12-31$2,616
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2022-12-31$1,005
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-755,003
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$318,590
Employer contributions (assets) at end of year2022-12-31$318,590
Employer contributions (assets) at beginning of year2022-12-31$337,819
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$134,621
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32022-12-31Yes
Liabilities. Value of benefit claims payable at end of year2022-12-31$3,744
Liabilities. Value of benefit claims payable at beginning of year2022-12-31$8,457
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31DEMARCO SCIACCOTTA WILKENS DUNLEAVY
Accountancy firm EIN2022-12-31271170185
2021 : SCHMID TOOL & ENGINEERING CORP. PROFIT SHARING PLAN AND TRUST 2021 401k financial data
Total unrealized appreciation/depreciation of assets2021-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$9,331
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$7,107
Total income from all sources (including contributions)2021-12-31$971,426
Total loss/gain on sale of assets2021-12-31$0
Total of all expenses incurred2021-12-31$317,752
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$294,459
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$615,277
Value of total assets at end of year2021-12-31$4,196,750
Value of total assets at beginning of year2021-12-31$3,540,852
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$23,293
Total interest from all sources2021-12-31$22
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$94,253
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2021-12-31$94,253
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$250,000
If this is an individual account plan, was there a blackout period2021-12-31Yes
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Contributions received from participants2021-12-31$217,138
Participant contributions at end of year2021-12-31$50,126
Income. Received or receivable in cash from other sources (including rollovers)2021-12-31$60,320
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2021-12-31$779
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2021-12-31$7,107
Liabilities. Value of operating payables at end of year2021-12-31$95
Total non interest bearing cash at end of year2021-12-31$17,870
Total non interest bearing cash at beginning of year2021-12-31$3,967
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$653,674
Value of net assets at end of year (total assets less liabilities)2021-12-31$4,187,419
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$3,533,745
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2021-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2021-12-31No
Were any leases to which the plan was party in default or uncollectible2021-12-31No
Investment advisory and management fees2021-12-31$10,326
Value of interest in registered invesment companies (eg mutual funds) at end of year2021-12-31$3,788,319
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-12-31$3,230,926
Interest on participant loans2021-12-31$22
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2021-12-31$2,616
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-12-31$261,874
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-12-31No
Was there a failure to transmit to the plan any participant contributions2021-12-31No
Has the plan failed to provide any benefit when due under the plan2021-12-31No
Contributions received in cash from employer2021-12-31$337,819
Employer contributions (assets) at end of year2021-12-31$337,819
Employer contributions (assets) at beginning of year2021-12-31$305,959
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$294,459
Contract administrator fees2021-12-31$12,967
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32021-12-31Yes
Liabilities. Value of benefit claims payable at end of year2021-12-31$8,457
Did the plan have assets held for investment2021-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2021-12-31No
Opinion of an independent qualified public accountant for this plan2021-12-31Unqualified
Accountancy firm name2021-12-31DEMARCO SCIACCOTTA WILKENS DUNLEAVY
Accountancy firm EIN2021-12-31271170185
2011 : SCHMID TOOL & ENGINEERING CORP. PROFIT SHARING PLAN AND TRUST 2011 401k financial data
Transfers to/from the plan2011-12-31$0
Total plan liabilities at end of year2011-12-31$0
Total plan liabilities at beginning of year2011-12-31$0
Total income from all sources2011-12-31$76,218
Expenses. Total of all expenses incurred2011-12-31$15,907
Benefits paid (including direct rollovers)2011-12-31$0
Total plan assets at end of year2011-12-31$633,531
Total plan assets at beginning of year2011-12-31$573,220
Value of fidelity bond covering the plan2011-12-31$70,000
Total contributions received or receivable from participants2011-12-31$0
Expenses. Other expenses not covered elsewhere2011-12-31$0
Contributions received from other sources (not participants or employers)2011-12-31$0
Other income received2011-12-31$26,218
Noncash contributions received2011-12-31$0
Net income (gross income less expenses)2011-12-31$60,311
Net plan assets at end of year (total assets less liabilities)2011-12-31$633,531
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$573,220
Total contributions received or receivable from employer(s)2011-12-31$50,000
Value of certain deemed distributions of participant loans2011-12-31$0
Value of corrective distributions2011-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2011-12-31$15,907
2010 : SCHMID TOOL & ENGINEERING CORP. PROFIT SHARING PLAN AND TRUST 2010 401k financial data
Transfers to/from the plan2010-12-31$0
Total plan liabilities at end of year2010-12-31$0
Total plan liabilities at beginning of year2010-12-31$0
Total income from all sources2010-12-31$38,757
Expenses. Total of all expenses incurred2010-12-31$11,545
Benefits paid (including direct rollovers)2010-12-31$4,759
Total plan assets at end of year2010-12-31$573,220
Total plan assets at beginning of year2010-12-31$546,008
Value of fidelity bond covering the plan2010-12-31$70,000
Total contributions received or receivable from participants2010-12-31$0
Expenses. Other expenses not covered elsewhere2010-12-31$0
Contributions received from other sources (not participants or employers)2010-12-31$0
Other income received2010-12-31$38,757
Noncash contributions received2010-12-31$0
Net income (gross income less expenses)2010-12-31$27,212
Net plan assets at end of year (total assets less liabilities)2010-12-31$573,220
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$546,008
Total contributions received or receivable from employer(s)2010-12-31$0
Value of certain deemed distributions of participant loans2010-12-31$0
Value of corrective distributions2010-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-31$6,786
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0

Form 5500 Responses for SCHMID TOOL & ENGINEERING CORP. PROFIT SHARING PLAN AND TRUST

2022: SCHMID TOOL & ENGINEERING CORP. PROFIT SHARING PLAN AND TRUST 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: SCHMID TOOL & ENGINEERING CORP. PROFIT SHARING PLAN AND TRUST 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedNo
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – InsuranceYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement – InsuranceYes
2021-01-01Plan benefit arrangement - TrustYes
2011: SCHMID TOOL & ENGINEERING CORP. PROFIT SHARING PLAN AND TRUST 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 – TrustYes
2011-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number120032
Policy instance 1
Insurance contract or identification number120032
Number of Individuals Covered0
Insurance policy start date2021-01-01
Insurance policy end date2021-11-15
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $1,457
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?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 $0
Amount paid for insurance broker fees1457
Additional information about fees paid to insurance brokerTPA COMMISSIONS AND FEES PAID
Insurance broker organization code?5

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