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PROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) PLAN 401k Plan overview

Plan NamePROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) PLAN
Plan identification number 001

PROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) 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.
  • 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

PROFILE INDUSTRIAL PACKAGING, INC. has sponsored the creation of one or more 401k plans.

Company Name:PROFILE INDUSTRIAL PACKAGING, INC.
Employer identification number (EIN):383411988
NAIC Classification:326100

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01JOYCE RACHON2023-10-10
0012021-01-01JOYCE RACHON2022-10-12
0012020-01-01JOYCE RACHON2021-10-15
0012020-01-01JOYCE RACHON2021-11-23
0012019-01-01JOYCE RACHON2020-07-26
0012018-01-01JOYCE RACHON2019-08-19
0012017-01-01JOYCE RACHON2018-07-30
0012016-01-01BRIAN HOEKSEMA2017-07-12
0012015-01-01BRIAN HOEKSEMA2016-08-15
0012014-01-01BRIAN HOEKSEMA2015-06-26
0012013-01-01BRIAN HOEKSEMA2014-07-31
0012012-01-01BRIAN HOEKSEMA2013-07-16
0012011-01-01JAMES CHAD2012-06-20
0012010-01-01JAMES CHAD2011-07-13
0012009-01-01JAMES CHAD

Plan Statistics for PROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) PLAN

401k plan membership statisitcs for PROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) PLAN

Measure Date Value
2022: PROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01142
Total number of active participants reported on line 7a of the Form 55002022-01-01121
Number of retired or separated participants receiving benefits2022-01-011
Number of other retired or separated participants entitled to future benefits2022-01-0133
Total of all active and inactive participants2022-01-01155
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01155
Number of participants with account balances2022-01-01102
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: PROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-01138
Total number of active participants reported on line 7a of the Form 55002021-01-01114
Number of retired or separated participants receiving benefits2021-01-011
Number of other retired or separated participants entitled to future benefits2021-01-0133
Total of all active and inactive participants2021-01-01148
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-01148
Number of participants with account balances2021-01-0197
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010
2020: PROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-01129
Total number of active participants reported on line 7a of the Form 55002020-01-01109
Number of retired or separated participants receiving benefits2020-01-012
Number of other retired or separated participants entitled to future benefits2020-01-0127
Total of all active and inactive participants2020-01-01138
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-01138
Number of participants with account balances2020-01-0196
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2009: PROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-0141
Total number of active participants reported on line 7a of the Form 55002009-01-0139
Number of retired or separated participants receiving benefits2009-01-012
Number of other retired or separated participants entitled to future benefits2009-01-011
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 balances2009-01-0116
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

Financial Data on PROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) PLAN

Measure Date Value
2022 : PROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) PLAN 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$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total income from all sources (including contributions)2022-12-31$-254,942
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$156,485
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$155,535
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$571,417
Value of total assets at end of year2022-12-31$4,673,775
Value of total assets at beginning of year2022-12-31$5,085,202
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$950
Total interest from all sources2022-12-31$5,802
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$97,262
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2022-12-31$97,262
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$500,000
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$376,961
Participant contributions at end of year2022-12-31$39,697
Participant contributions at beginning of year2022-12-31$44,982
Participant contributions at end of year2022-12-31$0
Participant contributions at beginning of year2022-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$2,526
Value of other receiveables (less allowance for doubtful accounts) at end of year2022-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2022-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-411,427
Value of net assets at end of year (total assets less liabilities)2022-12-31$4,673,775
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$5,085,202
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$4,094,243
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$4,664,371
Interest on participant loans2022-12-31$2,022
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2022-12-31$347,899
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2022-12-31$197,802
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2022-12-31$197,802
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2022-12-31$3,780
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-929,423
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$191,930
Employer contributions (assets) at end of year2022-12-31$191,936
Employer contributions (assets) at beginning of year2022-12-31$178,047
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$155,535
Contract administrator fees2022-12-31$950
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 name2022-12-31PLANTE & MORAN, PLLC
Accountancy firm EIN2022-12-31381357951
2021 : PROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) PLAN 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$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total income from all sources (including contributions)2021-12-31$1,175,086
Total loss/gain on sale of assets2021-12-31$0
Total of all expenses incurred2021-12-31$42,908
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$42,208
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$520,805
Value of total assets at end of year2021-12-31$5,085,202
Value of total assets at beginning of year2021-12-31$3,953,024
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$700
Total interest from all sources2021-12-31$1,352
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$354,242
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$354,242
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$500,000
If this is an individual account plan, was there a blackout period2021-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Contributions received from participants2021-12-31$342,758
Participant contributions at end of year2021-12-31$44,982
Participant contributions at beginning of year2021-12-31$17,918
Participant contributions at end of year2021-12-31$0
Participant contributions at beginning of year2021-12-31$9,243
Value of other receiveables (less allowance for doubtful accounts) at end of year2021-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2021-12-31$40
Administrative expenses (other) incurred2021-12-31$700
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$1,132,178
Value of net assets at end of year (total assets less liabilities)2021-12-31$5,085,202
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$3,953,024
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
Value of interest in registered invesment companies (eg mutual funds) at end of year2021-12-31$4,664,371
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-12-31$3,624,388
Interest on participant loans2021-12-31$1,316
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2021-12-31$197,802
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2021-12-31$131,175
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2021-12-31$131,175
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2021-12-31$36
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-12-31$298,687
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$178,047
Employer contributions (assets) at end of year2021-12-31$178,047
Employer contributions (assets) at beginning of year2021-12-31$170,260
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$42,208
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 name2021-12-31PLANTE & MORAN, PLLC
Accountancy firm EIN2021-12-31381357951
2020 : PROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) PLAN 2020 401k financial data
Total unrealized appreciation/depreciation of assets2020-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$0
Total income from all sources (including contributions)2020-12-31$1,275,419
Total loss/gain on sale of assets2020-12-31$0
Total of all expenses incurred2020-12-31$209,193
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-12-31$208,593
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-12-31$755,964
Value of total assets at end of year2020-12-31$3,953,024
Value of total assets at beginning of year2020-12-31$2,886,798
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-12-31$600
Total interest from all sources2020-12-31$2,200
Total dividends received (eg from common stock, registered investment company shares)2020-12-31$88,421
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2020-12-31$88,421
Was this plan covered by a fidelity bond2020-12-31Yes
Value of fidelity bond cover2020-12-31$200,000
If this is an individual account plan, was there a blackout period2020-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
Were there any nonexempt tranactions with any party-in-interest2020-12-31No
Contributions received from participants2020-12-31$299,093
Participant contributions at end of year2020-12-31$17,918
Participant contributions at beginning of year2020-12-31$19,017
Participant contributions at end of year2020-12-31$9,243
Participant contributions at beginning of year2020-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2020-12-31$150,530
Value of other receiveables (less allowance for doubtful accounts) at end of year2020-12-31$40
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2020-12-31$0
Administrative expenses (other) incurred2020-12-31$600
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Value of net income/loss2020-12-31$1,066,226
Value of net assets at end of year (total assets less liabilities)2020-12-31$3,953,024
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$2,886,798
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2020-12-31No
Were any leases to which the plan was party in default or uncollectible2020-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2020-12-31$3,624,388
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2020-12-31$2,694,616
Interest on participant loans2020-12-31$1,122
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2020-12-31$131,175
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2020-12-31$173,165
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2020-12-31$173,165
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2020-12-31$1,078
Net investment gain/loss from registered investment companies (e.g. mutual funds)2020-12-31$428,834
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-12-31No
Was there a failure to transmit to the plan any participant contributions2020-12-31No
Has the plan failed to provide any benefit when due under the plan2020-12-31No
Contributions received in cash from employer2020-12-31$306,341
Employer contributions (assets) at end of year2020-12-31$170,260
Employer contributions (assets) at beginning of year2020-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-12-31$208,593
Did the plan have assets held for investment2020-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-12-31No
Opinion of an independent qualified public accountant for this plan2020-12-31Disclaimer
Accountancy firm name2020-12-31PLANTE & MORAN, PLLC
Accountancy firm EIN2020-12-31381357951
2009 : PROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for PROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) PLAN

2022: PROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) PLAN 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: PROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) PLAN 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 – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: PROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) 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 planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2009: PROFILE INDUSTRIAL PACKAGING, INC. EMPLOYEES SAVINGS 401(K) PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
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 – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

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