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STRATO TRANSIT COMPONENTS, LLC SAVINGS PLAN 401k Plan overview

Plan NameSTRATO TRANSIT COMPONENTS, LLC SAVINGS PLAN
Plan identification number 002

STRATO TRANSIT COMPONENTS, LLC SAVINGS 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.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • 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

STRATO TRANSIT COMPONENTS, LLC has sponsored the creation of one or more 401k plans.

Company Name:STRATO TRANSIT COMPONENTS, LLC
Employer identification number (EIN):452301956
NAIC Classification:333900

Additional information about STRATO TRANSIT COMPONENTS, LLC

Jurisdiction of Incorporation: New Jersey Division of Revenue and Enterprise Services
Incorporation Date:
Company Identification Number: 0600372362

More information about STRATO TRANSIT COMPONENTS, LLC

Form 5500 Filing Information

Submission information for form 5500 for 401k plan STRATO TRANSIT COMPONENTS, LLC SAVINGS PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01
0022021-01-01
0022020-01-01
0022019-01-01MICHAEL CORRIDON2020-10-14 MICHAEL CORRIDON2020-10-14
0022018-01-01MICHAEL CORRIDON2019-09-23 MICHAEL CORRIDON2019-09-23
0022017-01-01MICHAEL CORRIDON2018-10-08 MICHAEL CORRIDON2018-10-08
0022016-01-01MICHAEL CORRIDON2017-10-02 MICHAEL CORRIDON2017-10-02
0022015-01-01MICHAEL CORRIDON2016-09-14 MICHAEL CORRIDON2016-09-14
0022014-01-01MICHAEL CORRIDON2015-10-06 MICHAEL CORRIDON2015-10-06
0022013-01-01MICHAEL CORRIDON2014-07-16 MICHAEL CORRIDON2014-07-16
0022012-01-01MICHAEL CORRIDON2013-09-18 MICHAEL CORRIDON2013-09-18
0022011-01-01KATHY SAMALONIS2012-08-28

Plan Statistics for STRATO TRANSIT COMPONENTS, LLC SAVINGS PLAN

401k plan membership statisitcs for STRATO TRANSIT COMPONENTS, LLC SAVINGS PLAN

Measure Date Value
2022: STRATO TRANSIT COMPONENTS, LLC SAVINGS PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-0113
Total number of active participants reported on line 7a of the Form 55002022-01-0111
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-014
Total of all active and inactive participants2022-01-0115
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-0115
Number of participants with account balances2022-01-0115
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: STRATO TRANSIT COMPONENTS, LLC SAVINGS PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-0116
Total number of active participants reported on line 7a of the Form 55002021-01-019
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-017
Total of all active and inactive participants2021-01-0116
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-0116
Number of participants with account balances2021-01-0116
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010
2020: STRATO TRANSIT COMPONENTS, LLC SAVINGS PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-0116
Total number of active participants reported on line 7a of the Form 55002020-01-0115
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-011
Total of all active and inactive participants2020-01-0116
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-0116
Number of participants with account balances2020-01-0116
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010

Financial Data on STRATO TRANSIT COMPONENTS, LLC SAVINGS PLAN

Measure Date Value
2022 : STRATO TRANSIT COMPONENTS, LLC SAVINGS 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$0
Total income from all sources2022-12-31$-151,976
Expenses. Total of all expenses incurred2022-12-31$23,720
Benefits paid (including direct rollovers)2022-12-31$12,027
Total plan assets at end of year2022-12-31$1,551,824
Total plan assets at beginning of year2022-12-31$1,727,520
Value of fidelity bond covering the plan2022-12-31$500,000
Total contributions received or receivable from participants2022-12-31$51,637
Expenses. Other expenses not covered elsewhere2022-12-31$0
Contributions received from other sources (not participants or employers)2022-12-31$0
Other income received2022-12-31$-221,755
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$-175,696
Net plan assets at end of year (total assets less liabilities)2022-12-31$1,551,824
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$1,727,520
Assets. Value of participant loans2022-12-31$11,751
Value of loans by the plan or fixed income obligations due to the plan which were in default or classified as uncollectible at the close of the plan year2022-12-31$0
Value of leases to which the plan was a party in default or classified as uncollectible during the plan year2022-12-31$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
Total contributions received or receivable from employer(s)2022-12-31$18,142
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$11,693
2021 : STRATO TRANSIT COMPONENTS, LLC SAVINGS 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$233,943
Expenses. Total of all expenses incurred2021-12-31$15,753
Benefits paid (including direct rollovers)2021-12-31$0
Total plan assets at end of year2021-12-31$1,727,520
Total plan assets at beginning of year2021-12-31$1,509,330
Value of fidelity bond covering the plan2021-12-31$500,000
Total contributions received or receivable from participants2021-12-31$64,468
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$146,410
Noncash contributions received2021-12-31$0
Net income (gross income less expenses)2021-12-31$218,190
Net plan assets at end of year (total assets less liabilities)2021-12-31$1,727,520
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$1,509,330
Assets. Value of participant loans2021-12-31$15,595
Value of loans by the plan or fixed income obligations due to the plan which were in default or classified as uncollectible at the close of the plan year2021-12-31$0
Value of leases to which the plan was a party in default or classified as uncollectible during the plan year2021-12-31$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
Total contributions received or receivable from employer(s)2021-12-31$23,065
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$15,753
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
2020 : STRATO TRANSIT COMPONENTS, LLC SAVINGS 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$278,202
Expenses. Total of all expenses incurred2020-12-31$20,240
Benefits paid (including direct rollovers)2020-12-31$7,451
Total plan assets at end of year2020-12-31$1,509,330
Total plan assets at beginning of year2020-12-31$1,251,368
Value of fidelity bond covering the plan2020-12-31$500,000
Total contributions received or receivable from participants2020-12-31$65,044
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$189,292
Noncash contributions received2020-12-31$0
Net income (gross income less expenses)2020-12-31$257,962
Net plan assets at end of year (total assets less liabilities)2020-12-31$1,509,330
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$1,251,368
Assets. Value of participant loans2020-12-31$2,876
Value of loans by the plan or fixed income obligations due to the plan which were in default or classified as uncollectible at the close of the plan year2020-12-31$0
Value of leases to which the plan was a party in default or classified as uncollectible during the plan year2020-12-31$0
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022020-12-31$0
Total contributions received or receivable from employer(s)2020-12-31$23,866
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$12,789
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0

Form 5500 Responses for STRATO TRANSIT COMPONENTS, LLC SAVINGS PLAN

2022: STRATO TRANSIT COMPONENTS, LLC SAVINGS PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
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 – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement - TrustYes
2021: STRATO TRANSIT COMPONENTS, LLC SAVINGS PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
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 – InsuranceYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement – InsuranceYes
2021-01-01Plan benefit arrangement - TrustYes
2020: STRATO TRANSIT COMPONENTS, LLC SAVINGS PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
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 – InsuranceYes
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement – InsuranceYes
2020-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number807752
Policy instance 1
Insurance contract or identification number807752
Number of Individuals Covered15
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
NEW YORK LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66915 )
Policy contract numberGA32066
Policy instance 2
Insurance contract or identification numberGA32066
Number of Individuals Covered15
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number807752
Policy instance 1
Insurance contract or identification number807752
Number of Individuals Covered16
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
NEW YORK LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66915 )
Policy contract numberGA-32066
Policy instance 2
Insurance contract or identification numberGA-32066
Number of Individuals Covered16
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number807752
Policy instance 1
Insurance contract or identification number807752
Number of Individuals Covered16
Insurance policy start date2020-01-01
Insurance policy end date2020-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
NEW YORK LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66915 )
Policy contract numberGA-32066
Policy instance 2
Insurance contract or identification numberGA-32066
Number of Individuals Covered16
Insurance policy start date2020-01-01
Insurance policy end date2020-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No

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