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FRIENDLY FORD INC 401K PLAN & TRUST 401k Plan overview

Plan NameFRIENDLY FORD INC 401K PLAN & TRUST
Plan identification number 001

FRIENDLY FORD INC 401K PLAN & TRUST 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

FRIENDLY FORD INC has sponsored the creation of one or more 401k plans.

Company Name:FRIENDLY FORD INC
Employer identification number (EIN):382328652
NAIC Classification:441110
NAIC Description:New Car Dealers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FRIENDLY FORD INC 401K PLAN & TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012021-12-01NICOLE M ERNST2023-11-03
0012020-12-01
0012019-12-01
0012018-12-01NICOLE M ERNST2020-06-25
0012017-12-01
0012016-12-01
0012015-12-01
0012014-12-01TOM SHANKIE2016-05-24
0012013-12-01TOM SHANKIE2015-06-04
0012012-12-01TOM SHANKIE2014-05-22
0012011-12-01TOM SHANKIE2013-06-10
0012010-12-01TOM SHANKIE2012-06-19

Plan Statistics for FRIENDLY FORD INC 401K PLAN & TRUST

401k plan membership statisitcs for FRIENDLY FORD INC 401K PLAN & TRUST

Measure Date Value
2020: FRIENDLY FORD INC 401K PLAN & TRUST 2020 401k membership
Total participants, beginning-of-year2020-12-01104
Total number of active participants reported on line 7a of the Form 55002020-12-0181
Number of retired or separated participants receiving benefits2020-12-010
Number of other retired or separated participants entitled to future benefits2020-12-0110
Total of all active and inactive participants2020-12-0191
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-12-011
Total participants2020-12-0192
Number of participants with account balances2020-12-0169
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-12-013
2019: FRIENDLY FORD INC 401K PLAN & TRUST 2019 401k membership
Total participants, beginning-of-year2019-12-01111
Total number of active participants reported on line 7a of the Form 55002019-12-0195
Number of retired or separated participants receiving benefits2019-12-010
Number of other retired or separated participants entitled to future benefits2019-12-017
Total of all active and inactive participants2019-12-01102
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-12-012
Total participants2019-12-01104
Number of participants with account balances2019-12-0167
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-12-014

Financial Data on FRIENDLY FORD INC 401K PLAN & TRUST

Measure Date Value
2021 : FRIENDLY FORD INC 401K PLAN & TRUST 2021 401k financial data
Transfers to/from the plan2021-11-30$0
Total plan liabilities at end of year2021-11-30$0
Total plan liabilities at beginning of year2021-11-30$0
Total income from all sources2021-11-30$1,172,287
Expenses. Total of all expenses incurred2021-11-30$274,936
Benefits paid (including direct rollovers)2021-11-30$255,465
Total plan assets at end of year2021-11-30$6,930,898
Total plan assets at beginning of year2021-11-30$6,033,547
Value of fidelity bond covering the plan2021-11-30$400,000
Total contributions received or receivable from participants2021-11-30$253,955
Expenses. Other expenses not covered elsewhere2021-11-30$18,628
Contributions received from other sources (not participants or employers)2021-11-30$9,042
Other income received2021-11-30$877,342
Net income (gross income less expenses)2021-11-30$897,351
Net plan assets at end of year (total assets less liabilities)2021-11-30$6,930,898
Net plan assets at beginning of year (total assets less liabilities)2021-11-30$6,033,547
Assets. Value of participant loans2021-11-30$77,538
Total contributions received or receivable from employer(s)2021-11-30$31,948
Value of certain deemed distributions of participant loans2021-11-30$843
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-11-30$0
2020 : FRIENDLY FORD INC 401K PLAN & TRUST 2020 401k financial data
Transfers to/from the plan2020-11-30$0
Total plan liabilities at end of year2020-11-30$0
Total plan liabilities at beginning of year2020-11-30$0
Total income from all sources2020-11-30$1,230,975
Expenses. Total of all expenses incurred2020-11-30$165,801
Benefits paid (including direct rollovers)2020-11-30$162,479
Total plan assets at end of year2020-11-30$6,033,547
Total plan assets at beginning of year2020-11-30$4,968,373
Value of fidelity bond covering the plan2020-11-30$400,000
Total contributions received or receivable from participants2020-11-30$246,609
Expenses. Other expenses not covered elsewhere2020-11-30$3,322
Contributions received from other sources (not participants or employers)2020-11-30$291,603
Other income received2020-11-30$662,295
Net income (gross income less expenses)2020-11-30$1,065,174
Net plan assets at end of year (total assets less liabilities)2020-11-30$6,033,547
Net plan assets at beginning of year (total assets less liabilities)2020-11-30$4,968,373
Assets. Value of participant loans2020-11-30$88,727
Total contributions received or receivable from employer(s)2020-11-30$30,468

Form 5500 Responses for FRIENDLY FORD INC 401K PLAN & TRUST

2020: FRIENDLY FORD INC 401K PLAN & TRUST 2020 form 5500 responses
2020-12-01Type of plan entitySingle employer plan
2020-12-01Submission has been amendedNo
2020-12-01This submission is the final filingNo
2020-12-01This return/report is a short plan year return/report (less than 12 months)No
2020-12-01Plan is a collectively bargained planNo
2020-12-01Plan funding arrangement – InsuranceYes
2020-12-01Plan benefit arrangement – InsuranceYes
2019: FRIENDLY FORD INC 401K PLAN & TRUST 2019 form 5500 responses
2019-12-01Type of plan entitySingle employer plan
2019-12-01Submission has been amendedNo
2019-12-01This submission is the final filingNo
2019-12-01This return/report is a short plan year return/report (less than 12 months)No
2019-12-01Plan is a collectively bargained planNo
2019-12-01Plan funding arrangement – InsuranceYes
2019-12-01Plan benefit arrangement – InsuranceYes

Insurance Providers Used on plan

MUTUAL OF AMERICA LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 88668 )
Policy contract number061793C
Policy instance 1
Insurance contract or identification number061793C
Number of Individuals Covered92
Insurance policy start date2020-12-01
Insurance policy end date2021-11-30
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $13,174
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 Administration1
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 fees13174
Additional information about fees paid to insurance brokerPORTION OF INCENTIVE COMP. PROGRAM
Insurance broker organization code?3
MUTUAL OF AMERICA LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 88668 )
Policy contract number061793C
Policy instance 1
Insurance contract or identification number061793C
Number of Individuals Covered104
Insurance policy start date2019-12-01
Insurance policy end date2020-11-30
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
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 Administration1
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

Potentially related plans

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