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SIMONDS GROUP, LTD. 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameSIMONDS GROUP, LTD. 401(K) PROFIT SHARING PLAN
Plan identification number 001

SIMONDS GROUP, LTD. 401(K) PROFIT SHARING 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.
  • Partial participant-directed account plan - Participants have the opportunity to direct the investment of a portion of 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.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • 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) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

THE SIMONDS GROUP, LTD. has sponsored the creation of one or more 401k plans.

Company Name:THE SIMONDS GROUP, LTD.
Employer identification number (EIN):371297380
NAIC Classification:237310
NAIC Description:Highway, Street, and Bridge Construction

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SIMONDS GROUP, LTD. 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01KATE MAYS2024-07-11
0012022-01-01KATE MAYS2023-08-01
0012021-01-01KATE MAYS2022-07-19
0012020-01-01KATE MAYS2021-07-30
0012019-01-01MS. KATHLEEN MAYS LEE2020-07-24
0012018-01-01MS. KATHLEEN MAYS LEE2019-07-29
0012017-01-01MICHAEL B. MCCLAY2018-07-24
0012016-01-01MICHAEL B. MCCLAY2017-07-19
0012015-01-01MICHAEL B. MCCLAY2016-07-21
0012014-01-01MICHAEL B. MCCLAY2015-06-23
0012014-01-01MICHAEL B. MCCLAY2015-06-22
0012013-01-01MICHAEL B. MCCLAY2014-06-17
0012012-01-01MICHAEL B. MCCLAY2013-10-10
0012011-01-01MICHAEL B. MCCLAY2013-10-10
0012010-02-24MICHAEL B. MCCLAY2013-10-10

Financial Data on SIMONDS GROUP, LTD. 401(K) PROFIT SHARING PLAN

Measure Date Value
2025 : SIMONDS GROUP, LTD. 401(K) PROFIT SHARING PLAN 2025 401k financial data
Total transfers to/from plan in this plan year2025-07-090
Total expenses incurred by plan in this plan year2025-07-092931182
Net assets as of the end of the plan year2025-07-0929658874
Total assets as of the beginning of the plan year2025-07-0927179568
Value of plan covered by a fidelity bond2025-07-091000000
Participant contributions to plan in this plan year2025-07-09686454
Other contributions to plan in this plan year2025-07-095062
Other income to plan in this plan year2025-07-093091660
Plan net income in this plan year2025-07-092479306
Net assets as of the end of the plan year2025-07-0929658874
Net assets as of the beginning of the plan year2025-07-0927179568
Employer contributions to plan in this plan year2025-07-091627312
Expensese paid to adminstrative service provicers from plan in this plan year2025-07-0995171
2024 : SIMONDS GROUP, LTD. 401(K) PROFIT SHARING PLAN 2024 401k financial data
Total transfers to/from plan in this plan year2024-07-110
Total expenses incurred by plan in this plan year2024-07-111609445
Net assets as of the end of the plan year2024-07-1127179568
Total assets as of the beginning of the plan year2024-07-1123962016
Value of plan covered by a fidelity bond2024-07-111000000
Participant contributions to plan in this plan year2024-07-11598782
Other contributions to plan in this plan year2024-07-110
Other income to plan in this plan year2024-07-113461915
Plan net income in this plan year2024-07-113217552
Net assets as of the end of the plan year2024-07-1127179568
Net assets as of the beginning of the plan year2024-07-1123962016
Employer contributions to plan in this plan year2024-07-11766300
Expensese paid to adminstrative service provicers from plan in this plan year2024-07-1186916

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