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CHARLIES PUMPS & WELL DRILLING 401(K) PLAN 401k Plan overview

Plan NameCHARLIES PUMPS & WELL DRILLING 401(K) PLAN
Plan identification number 001

CHARLIES PUMPS & WELL DRILLING 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

CHARLIES PUMPS & WELL DRILLING has sponsored the creation of one or more 401k plans.

Company Name:CHARLIES PUMPS & WELL DRILLING
Employer identification number (EIN):391397684
NAIC Classification:221300

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CHARLIES PUMPS & WELL DRILLING 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012021-01-01SARA KAHL2021-09-21
0012020-01-01SARA KAHL2021-07-16
0012019-01-01
0012018-01-01SARA KAHL
0012017-01-01SARA KAHL
0012016-01-01SARA KAHL

Plan Statistics for CHARLIES PUMPS & WELL DRILLING 401(K) PLAN

401k plan membership statisitcs for CHARLIES PUMPS & WELL DRILLING 401(K) PLAN

Measure Date Value
2019: CHARLIES PUMPS & WELL DRILLING 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-016
Total number of active participants reported on line 7a of the Form 55002019-01-016
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-010
Total of all active and inactive participants2019-01-016
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-016
Number of participants with account balances2019-01-016
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: CHARLIES PUMPS & WELL DRILLING 401(K) PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-016
Total number of active participants reported on line 7a of the Form 55002018-01-016
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-010
Total of all active and inactive participants2018-01-016
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-016
Number of participants with account balances2018-01-016
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010
2017: CHARLIES PUMPS & WELL DRILLING 401(K) PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-016
Total number of active participants reported on line 7a of the Form 55002017-01-016
Number of retired or separated participants receiving benefits2017-01-010
Number of other retired or separated participants entitled to future benefits2017-01-010
Total of all active and inactive participants2017-01-016
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-016
Number of participants with account balances2017-01-016
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-010
2016: CHARLIES PUMPS & WELL DRILLING 401(K) PLAN 2016 401k membership
Total participants, beginning-of-year2016-01-010
Total number of active participants reported on line 7a of the Form 55002016-01-016
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-010
Total of all active and inactive participants2016-01-016
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-016
Number of participants with account balances2016-01-016
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-010

Financial Data on CHARLIES PUMPS & WELL DRILLING 401(K) PLAN

Measure Date Value
2019 : CHARLIES PUMPS & WELL DRILLING 401(K) PLAN 2019 401k financial data
Total income from all sources2019-12-31$27,428
Expenses. Total of all expenses incurred2019-12-31$3,306
Benefits paid (including direct rollovers)2019-12-31$3,306
Total plan assets at end of year2019-12-31$172,734
Total plan assets at beginning of year2019-12-31$148,612
Other income received2019-12-31$27,428
Net income (gross income less expenses)2019-12-31$24,122
Net plan assets at end of year (total assets less liabilities)2019-12-31$172,734
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$148,612
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
2018 : CHARLIES PUMPS & WELL DRILLING 401(K) PLAN 2018 401k financial data
Total income from all sources2018-12-31$-8,705
Expenses. Total of all expenses incurred2018-12-31$3,809
Benefits paid (including direct rollovers)2018-12-31$3,639
Total plan assets at end of year2018-12-31$148,612
Total plan assets at beginning of year2018-12-31$161,126
Other income received2018-12-31$-8,705
Net income (gross income less expenses)2018-12-31$-12,514
Net plan assets at end of year (total assets less liabilities)2018-12-31$148,612
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$161,126
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$170
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2018-12-31$0
2017 : CHARLIES PUMPS & WELL DRILLING 401(K) PLAN 2017 401k financial data
Total income from all sources2017-12-31$20,620
Expenses. Total of all expenses incurred2017-12-31$3,494
Benefits paid (including direct rollovers)2017-12-31$3,324
Total plan assets at end of year2017-12-31$161,126
Total plan assets at beginning of year2017-12-31$144,000
Other income received2017-12-31$20,620
Net income (gross income less expenses)2017-12-31$17,126
Net plan assets at end of year (total assets less liabilities)2017-12-31$161,126
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$144,000
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$170
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2017-12-31$0
2016 : CHARLIES PUMPS & WELL DRILLING 401(K) PLAN 2016 401k financial data
Total income from all sources2016-12-31$144,000
Expenses. Total of all expenses incurred2016-12-31$0
Total plan assets at end of year2016-12-31$144,000
Total plan assets at beginning of year2016-12-31$0
Total contributions received or receivable from participants2016-12-31$144,000
Net income (gross income less expenses)2016-12-31$144,000
Net plan assets at end of year (total assets less liabilities)2016-12-31$144,000
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$0
Total contributions received or receivable from employer(s)2016-12-31$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2016-12-31$0

Form 5500 Responses for CHARLIES PUMPS & WELL DRILLING 401(K) PLAN

2019: CHARLIES PUMPS & WELL DRILLING 401(K) 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 planNo
2019-01-01Plan funding arrangement – InsuranceYes
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement – InsuranceYes
2019-01-01Plan benefit arrangement - TrustYes
2018: CHARLIES PUMPS & WELL DRILLING 401(K) 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 planNo
2018-01-01Plan funding arrangement – InsuranceYes
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement – InsuranceYes
2018-01-01Plan benefit arrangement - TrustYes
2017: CHARLIES PUMPS & WELL DRILLING 401(K) 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 planNo
2017-01-01Plan funding arrangement – InsuranceYes
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement – InsuranceYes
2017-01-01Plan benefit arrangement - TrustYes
2016: CHARLIES PUMPS & WELL DRILLING 401(K) PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01First time form 5500 has been submittedYes
2016-01-01Submission has been amendedNo
2016-01-01This submission is the final filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – InsuranceYes
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement – InsuranceYes
2016-01-01Plan 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 number127213
Policy instance 1
Insurance contract or identification number127213
Number of Individuals Covered6
Insurance policy start date2019-01-01
Insurance policy end date2019-12-31
Total amount of commissions paid to insurance brokerUSD $815
Total amount of fees paid to insurance companyUSD $202
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 $815
Insurance broker organization code?7
Amount paid for insurance broker fees202
Additional information about fees paid to insurance brokerTPA FEES
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number127213
Policy instance 1
Insurance contract or identification number127213
Number of Individuals Covered6
Insurance policy start date2018-01-01
Insurance policy end date2018-12-31
Total amount of commissions paid to insurance brokerUSD $804
Total amount of fees paid to insurance companyUSD $201
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 $804
Insurance broker organization code?7
Amount paid for insurance broker fees201
Additional information about fees paid to insurance brokerTPA FEES
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number127213
Policy instance 1
Insurance contract or identification number127213
Number of Individuals Covered6
Insurance policy start date2017-01-01
Insurance policy end date2017-12-31
Total amount of commissions paid to insurance brokerUSD $766
Total amount of fees paid to insurance companyUSD $1,637
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
Amount paid for insurance broker fees1637
Additional information about fees paid to insurance brokerTPA FEES
Insurance broker organization code?5
Commission paid to Insurance BrokerUSD $766
Insurance broker nameWOODBURY FINANCIAL SE

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