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NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameNORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN
Plan identification number 003

NORTHERN MACHINE TOOL CO. 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.
  • 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

NORTHERN MACHINE TOOL COMPANY has sponsored the creation of one or more 401k plans.

Company Name:NORTHERN MACHINE TOOL COMPANY
Employer identification number (EIN):381749993
NAIC Classification:335900

Form 5500 Filing Information

Submission information for form 5500 for 401k plan NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032022-01-01
0032021-01-01
0032020-01-01
0032019-01-01
0032019-01-01
0032018-01-01TERRY WINESETT
0032017-01-01TERRY WINESETT
0032016-01-01
0032015-01-01
0032014-01-01STEPHEN OLSEN2015-06-22
0032013-01-01STEPHEN OLSEN2014-06-03
0032012-01-01STEPHEN OLSEN2013-07-16
0032011-01-01STEPHEN OLSEN2012-07-17
0032010-01-01STEPHEN OLSEN2011-07-26

Plan Statistics for NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN

Measure Date Value
2022: NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-0127
Total number of active participants reported on line 7a of the Form 55002022-01-0119
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-017
Total of all active and inactive participants2022-01-0126
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-0126
Number of participants with account balances2022-01-0123
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-0134
Total number of active participants reported on line 7a of the Form 55002021-01-0117
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-0110
Total of all active and inactive participants2021-01-0127
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-0127
Number of participants with account balances2021-01-0127
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-011
2020: NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-0136
Total number of active participants reported on line 7a of the Form 55002020-01-0119
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-0115
Total of all active and inactive participants2020-01-0134
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-0134
Number of participants with account balances2020-01-0134
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-0136
Total number of active participants reported on line 7a of the Form 55002019-01-0131
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-015
Total of all active and inactive participants2019-01-0136
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-0136
Number of participants with account balances2019-01-0136
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-0135
Total number of active participants reported on line 7a of the Form 55002018-01-0132
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-014
Total of all active and inactive participants2018-01-0136
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-0136
Number of participants with account balances2018-01-0136
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010
2017: NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-0115
Total number of active participants reported on line 7a of the Form 55002017-01-0129
Number of retired or separated participants receiving benefits2017-01-010
Number of other retired or separated participants entitled to future benefits2017-01-016
Total of all active and inactive participants2017-01-0135
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-0135
Number of participants with account balances2017-01-0135
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-010

Financial Data on NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN

Measure Date Value
2022 : NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN 2022 401k financial data
Transfers to/from the plan2022-12-31$0
Total plan liabilities at end of year2022-12-31$0
Total plan liabilities at beginning of year2022-12-31$0
Total income from all sources2022-12-31$-948,795
Expenses. Total of all expenses incurred2022-12-31$1,483,159
Benefits paid (including direct rollovers)2022-12-31$1,470,132
Total plan assets at end of year2022-12-31$5,421,353
Total plan assets at beginning of year2022-12-31$7,853,307
Value of fidelity bond covering the plan2022-12-31$500,000
Assets. Value of tangible personal property2022-12-31$0
Total contributions received or receivable from participants2022-12-31$119,573
Assets. Value of loans (other than to participants)2022-12-31$0
Expenses. Other expenses not covered elsewhere2022-12-31$0
Contributions received from other sources (not participants or employers)2022-12-31$0
Other income received2022-12-31$-1,119,220
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$-2,431,954
Net plan assets at end of year (total assets less liabilities)2022-12-31$5,421,353
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$7,853,307
Assets. Value of participant loans2022-12-31$24,758
Assets. Value of assets in partnership/joint-venture interests2022-12-31$0
Assets. Value of real-estate (other than employer real property)2022-12-31$0
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022022-12-31$0
Assets. Value of employer securities2022-12-31$0
Assets. Value of employer real property2022-12-31$0
Total contributions received or receivable from employer(s)2022-12-31$50,852
Value of certain deemed distributions of participant loans2022-12-31$0
Value of corrective distributions2022-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$13,027
2021 : NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN 2021 401k financial data
Transfers to/from the plan2021-12-31$0
Total plan liabilities at end of year2021-12-31$0
Total plan liabilities at beginning of year2021-12-31$0
Total income from all sources2021-12-31$849,659
Expenses. Total of all expenses incurred2021-12-31$1,303,827
Benefits paid (including direct rollovers)2021-12-31$1,285,766
Total plan assets at end of year2021-12-31$7,853,307
Total plan assets at beginning of year2021-12-31$8,307,475
Value of fidelity bond covering the plan2021-12-31$500,000
Assets. Value of tangible personal property2021-12-31$0
Total contributions received or receivable from participants2021-12-31$111,800
Assets. Value of loans (other than to participants)2021-12-31$0
Expenses. Other expenses not covered elsewhere2021-12-31$0
Contributions received from other sources (not participants or employers)2021-12-31$0
Other income received2021-12-31$696,828
Noncash contributions received2021-12-31$0
Net income (gross income less expenses)2021-12-31$-454,168
Net plan assets at end of year (total assets less liabilities)2021-12-31$7,853,307
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$8,307,475
Assets. Value of participant loans2021-12-31$3,884
Assets. Value of assets in partnership/joint-venture interests2021-12-31$0
Assets. Value of real-estate (other than employer real property)2021-12-31$0
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022021-12-31$0
Assets. Value of employer securities2021-12-31$0
Assets. Value of employer real property2021-12-31$0
Total contributions received or receivable from employer(s)2021-12-31$41,031
Value of certain deemed distributions of participant loans2021-12-31$0
Value of corrective distributions2021-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$18,061
2020 : NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN 2020 401k financial data
Transfers to/from the plan2020-12-31$0
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$714,652
Expenses. Total of all expenses incurred2020-12-31$565,645
Benefits paid (including direct rollovers)2020-12-31$543,546
Total plan assets at end of year2020-12-31$8,307,475
Total plan assets at beginning of year2020-12-31$8,158,468
Value of fidelity bond covering the plan2020-12-31$500,000
Total contributions received or receivable from participants2020-12-31$110,390
Expenses. Other expenses not covered elsewhere2020-12-31$0
Contributions received from other sources (not participants or employers)2020-12-31$0
Other income received2020-12-31$558,946
Noncash contributions received2020-12-31$0
Net income (gross income less expenses)2020-12-31$149,007
Net plan assets at end of year (total assets less liabilities)2020-12-31$8,307,475
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$8,158,468
Assets. Value of participant loans2020-12-31$8,553
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022020-12-31$0
Total contributions received or receivable from employer(s)2020-12-31$45,316
Value of certain deemed distributions of participant loans2020-12-31$0
Value of corrective distributions2020-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$22,099
2019 : NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN 2019 401k financial data
Transfers to/from the plan2019-12-31$0
Total plan liabilities at end of year2019-12-31$0
Total plan liabilities at beginning of year2019-12-31$0
Total income from all sources2019-12-31$1,582,396
Expenses. Total of all expenses incurred2019-12-31$1,751,662
Benefits paid (including direct rollovers)2019-12-31$1,731,398
Total plan assets at end of year2019-12-31$8,158,468
Total plan assets at beginning of year2019-12-31$8,327,734
Value of fidelity bond covering the plan2019-12-31$500,000
Total contributions received or receivable from participants2019-12-31$149,197
Expenses. Other expenses not covered elsewhere2019-12-31$0
Contributions received from other sources (not participants or employers)2019-12-31$11,428
Other income received2019-12-31$1,346,168
Noncash contributions received2019-12-31$0
Net income (gross income less expenses)2019-12-31$-169,266
Net plan assets at end of year (total assets less liabilities)2019-12-31$8,158,468
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$8,327,734
Assets. Value of participant loans2019-12-31$38,155
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022019-12-31$0
Total contributions received or receivable from employer(s)2019-12-31$75,603
Value of certain deemed distributions of participant loans2019-12-31$0
Value of corrective distributions2019-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$20,264
2018 : NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN 2018 401k financial data
Transfers to/from the plan2018-12-31$0
Total plan liabilities at end of year2018-12-31$0
Total plan liabilities at beginning of year2018-12-31$0
Total income from all sources2018-12-31$-40,581
Expenses. Total of all expenses incurred2018-12-31$183,599
Benefits paid (including direct rollovers)2018-12-31$161,886
Total plan assets at end of year2018-12-31$8,327,734
Total plan assets at beginning of year2018-12-31$8,551,914
Value of fidelity bond covering the plan2018-12-31$500,000
Total contributions received or receivable from participants2018-12-31$150,107
Expenses. Other expenses not covered elsewhere2018-12-31$0
Contributions received from other sources (not participants or employers)2018-12-31$5,297
Other income received2018-12-31$-307,104
Noncash contributions received2018-12-31$0
Net income (gross income less expenses)2018-12-31$-224,180
Net plan assets at end of year (total assets less liabilities)2018-12-31$8,327,734
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$8,551,914
Assets. Value of participant loans2018-12-31$48,709
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022018-12-31$0
Total contributions received or receivable from employer(s)2018-12-31$111,119
Value of certain deemed distributions of participant loans2018-12-31$0
Value of corrective distributions2018-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$21,713
2017 : NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN 2017 401k financial data
Transfers to/from the plan2017-12-31$3,520,684
Total plan liabilities at end of year2017-12-31$0
Total plan liabilities at beginning of year2017-12-31$0
Total income from all sources2017-12-31$915,314
Expenses. Total of all expenses incurred2017-12-31$598,013
Benefits paid (including direct rollovers)2017-12-31$582,715
Total plan assets at end of year2017-12-31$8,551,914
Total plan assets at beginning of year2017-12-31$4,713,929
Value of fidelity bond covering the plan2017-12-31$500,000
Total contributions received or receivable from participants2017-12-31$103,583
Expenses. Other expenses not covered elsewhere2017-12-31$0
Contributions received from other sources (not participants or employers)2017-12-31$8,118
Other income received2017-12-31$741,531
Noncash contributions received2017-12-31$0
Net income (gross income less expenses)2017-12-31$317,301
Net plan assets at end of year (total assets less liabilities)2017-12-31$8,551,914
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$4,713,929
Assets. Value of participant loans2017-12-31$3,947
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022017-12-31$0
Total contributions received or receivable from employer(s)2017-12-31$62,082
Value of certain deemed distributions of participant loans2017-12-31$0
Value of corrective distributions2017-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$15,298

Form 5500 Responses for NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN

2022: NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01This submission is the final filingNo
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01This submission is the final filingNo
2021-01-01Plan is a collectively bargained planYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: NORTHERN MACHINE TOOL CO. 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 planYes
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING 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 planYes
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedNo
2018-01-01This submission is the final filingNo
2018-01-01This return/report is a short plan year return/report (less than 12 months)No
2018-01-01Plan is a collectively bargained planYes
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: NORTHERN MACHINE TOOL CO. 401(K) PROFIT SHARING PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedNo
2017-01-01This submission is the final filingNo
2017-01-01This return/report is a short plan year return/report (less than 12 months)No
2017-01-01Plan is a collectively bargained planYes
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes

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