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PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 401k Plan overview

Plan NamePEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN
Plan identification number 001

PEOPLES STATE BANK OF VELVA 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.
  • 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

PEOPLES STATE BANK OF VELVA has sponsored the creation of one or more 401k plans.

Company Name:PEOPLES STATE BANK OF VELVA
Employer identification number (EIN):450180480
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01RICK BEALL2023-02-13 RICK BEALL2023-02-13
0012021-01-01RICK BEALL2022-02-16 RICK BEALL2022-02-16
0012020-01-01RICHARD BEALL2021-08-04 RICHARD BEALL2021-08-04
0012019-01-01RICK BEALL2020-04-27 RICK BEALL2020-04-27
0012018-01-01RICK BEALL2019-06-25
0012018-01-01RICK BEALL2020-04-13
0012017-01-01
0012016-01-01
0012015-01-01
0012014-01-01
0012013-01-01
0012012-01-01RICHARD BEALL
0012011-01-01RICHARD BEALL
0012010-01-01RICHARD BEALL
0012009-01-01RICHARD BEALL
0012009-01-01RICHARD BEALL

Plan Statistics for PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN

401k plan membership statisitcs for PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN

Measure Date Value
2017: PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-0117
Total number of active participants reported on line 7a of the Form 55002017-01-0119
Total of all active and inactive participants2017-01-0119
Total participants2017-01-0119
Number of participants with account balances2017-01-0119
2016: PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2016 401k membership
Total participants, beginning-of-year2016-01-0118
Total number of active participants reported on line 7a of the Form 55002016-01-0116
Total of all active and inactive participants2016-01-0116
Total participants2016-01-0116
Number of participants with account balances2016-01-0117
2015: PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-0118
Total number of active participants reported on line 7a of the Form 55002015-01-0118
Total of all active and inactive participants2015-01-0118
Total participants2015-01-0118
Number of participants with account balances2015-01-0121
2014: PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-0115
Total number of active participants reported on line 7a of the Form 55002014-01-0118
Total of all active and inactive participants2014-01-0118
Total participants2014-01-0118
Number of participants with account balances2014-01-0118
2013: PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2013 401k membership
Total participants, beginning-of-year2013-01-0110
Total number of active participants reported on line 7a of the Form 55002013-01-0115
Total of all active and inactive participants2013-01-0115
Total participants2013-01-0115
Number of participants with account balances2013-01-0116
2012: PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2012 401k membership
Total participants, beginning-of-year2012-01-0114
Total number of active participants reported on line 7a of the Form 55002012-01-0110
Total of all active and inactive participants2012-01-0110
Total participants2012-01-0110
Number of participants with account balances2012-01-0114
2011: PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-0112
Total number of active participants reported on line 7a of the Form 55002011-01-0114
Total of all active and inactive participants2011-01-0114
Total participants2011-01-0114
Number of participants with account balances2011-01-0115
2010: PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2010 401k membership
Total participants, beginning-of-year2010-01-018
Total number of active participants reported on line 7a of the Form 55002010-01-0112
Total of all active and inactive participants2010-01-0112
Total participants2010-01-0112
Number of participants with account balances2010-01-0112
2009: PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-018
Total number of active participants reported on line 7a of the Form 55002009-01-018
Total of all active and inactive participants2009-01-018
Total participants2009-01-018
Number of participants with account balances2009-01-018

Financial Data on PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN

Measure Date Value
2017 : PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2017 401k financial data
Total income from all sources2017-12-31$463,243
Expenses. Total of all expenses incurred2017-12-31$57,057
Benefits paid (including direct rollovers)2017-12-31$32,911
Total plan assets at end of year2017-12-31$3,289,666
Total plan assets at beginning of year2017-12-31$2,883,480
Value of fidelity bond covering the plan2017-12-31$2,300,000
Other income received2017-12-31$320,240
Net income (gross income less expenses)2017-12-31$406,186
Net plan assets at end of year (total assets less liabilities)2017-12-31$3,289,666
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$2,883,480
Total contributions received or receivable from employer(s)2017-12-31$143,003
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$24,146
2016 : PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2016 401k financial data
Total income from all sources2016-12-31$285,626
Expenses. Total of all expenses incurred2016-12-31$214,486
Benefits paid (including direct rollovers)2016-12-31$214,366
Total plan assets at end of year2016-12-31$2,883,480
Total plan assets at beginning of year2016-12-31$2,812,340
Other income received2016-12-31$142,626
Net income (gross income less expenses)2016-12-31$71,140
Net plan assets at end of year (total assets less liabilities)2016-12-31$2,883,480
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$2,812,340
Total contributions received or receivable from employer(s)2016-12-31$143,000
Expenses. Administrative service providers (salaries,fees and commissions)2016-12-31$120
2015 : PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2015 401k financial data
Total income from all sources2015-12-31$89,146
Total plan assets at end of year2015-12-31$2,812,340
Total plan assets at beginning of year2015-12-31$2,723,194
Other income received2015-12-31$-58,854
Net income (gross income less expenses)2015-12-31$89,146
Net plan assets at end of year (total assets less liabilities)2015-12-31$2,812,340
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$2,723,194
Total contributions received or receivable from employer(s)2015-12-31$148,000
2014 : PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2014 401k financial data
Total income from all sources2014-12-31$255,784
Expenses. Total of all expenses incurred2014-12-31$21,429
Benefits paid (including direct rollovers)2014-12-31$21,399
Total plan assets at end of year2014-12-31$2,723,194
Total plan assets at beginning of year2014-12-31$2,488,839
Other income received2014-12-31$122,409
Net income (gross income less expenses)2014-12-31$234,355
Net plan assets at end of year (total assets less liabilities)2014-12-31$2,723,194
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$2,488,839
Total contributions received or receivable from employer(s)2014-12-31$133,375
Expenses. Administrative service providers (salaries,fees and commissions)2014-12-31$30
2013 : PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2013 401k financial data
Total income from all sources2013-12-31$450,528
Expenses. Total of all expenses incurred2013-12-31$124,454
Benefits paid (including direct rollovers)2013-12-31$124,364
Total plan assets at end of year2013-12-31$2,488,839
Total plan assets at beginning of year2013-12-31$2,162,765
Other income received2013-12-31$353,023
Net income (gross income less expenses)2013-12-31$326,074
Net plan assets at end of year (total assets less liabilities)2013-12-31$2,488,839
Net plan assets at beginning of year (total assets less liabilities)2013-12-31$2,162,765
Total contributions received or receivable from employer(s)2013-12-31$97,505
Expenses. Administrative service providers (salaries,fees and commissions)2013-12-31$90
2012 : PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2012 401k financial data
Total income from all sources2012-12-31$303,703
Expenses. Total of all expenses incurred2012-12-31$196
Benefits paid (including direct rollovers)2012-12-31$166
Total plan assets at end of year2012-12-31$2,162,765
Total plan assets at beginning of year2012-12-31$1,859,258
Other income received2012-12-31$215,503
Net income (gross income less expenses)2012-12-31$303,507
Net plan assets at end of year (total assets less liabilities)2012-12-31$2,162,765
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$1,859,258
Total contributions received or receivable from employer(s)2012-12-31$88,200
Expenses. Administrative service providers (salaries,fees and commissions)2012-12-31$30
2011 : PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2011 401k financial data
Total income from all sources2011-12-31$82,207
Total plan assets at end of year2011-12-31$1,859,258
Total plan assets at beginning of year2011-12-31$1,777,051
Other income received2011-12-31$14,744
Net income (gross income less expenses)2011-12-31$82,207
Net plan assets at end of year (total assets less liabilities)2011-12-31$1,859,258
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$1,777,051
Total contributions received or receivable from employer(s)2011-12-31$67,463
2010 : PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2010 401k financial data
Total income from all sources2010-12-31$252,082
Total plan assets at end of year2010-12-31$1,777,051
Total plan assets at beginning of year2010-12-31$1,524,969
Other income received2010-12-31$184,682
Net income (gross income less expenses)2010-12-31$252,082
Net plan assets at end of year (total assets less liabilities)2010-12-31$1,777,051
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$1,524,969
Total contributions received or receivable from employer(s)2010-12-31$67,400

Form 5500 Responses for PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN

2017: PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes
2015: PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes
2014: PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement - TrustYes
2013: PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement - TrustYes
2012: PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement - TrustYes
2011: PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes
2010: PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement - TrustYes
2009: PEOPLES STATE BANK OF VELVA PROFIT SHARING PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedYes
2009-01-01This submission is the final filingNo
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

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