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ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT PLAN 401k Plan overview

Plan NameADVANCE CONVERGENCE GROUP 401(K) RETIREMENT PLAN
Plan identification number 001

ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

ADVANCE CONVERGENCE GROUP, INC. has sponsored the creation of one or more 401k plans.

Company Name:ADVANCE CONVERGENCE GROUP, INC.
Employer identification number (EIN):461553904
NAIC Classification:541519
NAIC Description:Other Computer Related Services

Additional information about ADVANCE CONVERGENCE GROUP, INC.

Jurisdiction of Incorporation: State of Delaware Division of Corporations
Incorporation Date:
Company Identification Number: 5254374

More information about ADVANCE CONVERGENCE GROUP, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012021-01-01
0012020-01-01
0012019-01-01
0012018-01-01SAL SURACE
0012017-01-01SAL SURACE
0012016-01-01SALVATORE SURACE2017-07-31

Plan Statistics for ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT PLAN

401k plan membership statisitcs for ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT PLAN

Measure Date Value
2022: ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-0183
Total number of active participants reported on line 7a of the Form 55002022-01-0178
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-0114
Total of all active and inactive participants2022-01-0192
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-0192
Number of participants with account balances2022-01-0168
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-0189
Total number of active participants reported on line 7a of the Form 55002021-01-0172
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-0111
Total of all active and inactive participants2021-01-0183
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-0183
Number of participants with account balances2021-01-0165
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010
2020: ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-0172
Total number of active participants reported on line 7a of the Form 55002020-01-0176
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-0113
Total of all active and inactive participants2020-01-0189
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-0189
Number of participants with account balances2020-01-0160
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-0160
Total number of active participants reported on line 7a of the Form 55002019-01-0163
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-019
Total of all active and inactive participants2019-01-0172
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-0172
Number of participants with account balances2019-01-0150
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-0157
Total number of active participants reported on line 7a of the Form 55002018-01-0153
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-017
Total of all active and inactive participants2018-01-0160
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-0160
Number of participants with account balances2018-01-0146
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010
2017: ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-0180
Total number of active participants reported on line 7a of the Form 55002017-01-0152
Number of retired or separated participants receiving benefits2017-01-010
Number of other retired or separated participants entitled to future benefits2017-01-015
Total of all active and inactive participants2017-01-0157
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-0157
Number of participants with account balances2017-01-0154

Financial Data on ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT PLAN

Measure Date Value
2022 : ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT 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$0
Total income from all sources2022-12-31$-79,756
Expenses. Total of all expenses incurred2022-12-31$272,886
Benefits paid (including direct rollovers)2022-12-31$272,023
Total plan assets at end of year2022-12-31$4,565,340
Total plan assets at beginning of year2022-12-31$4,917,982
Value of fidelity bond covering the plan2022-12-31$500,000
Assets. Value of tangible personal property2022-12-31$0
Total contributions received or receivable from participants2022-12-31$547,827
Assets. Value of loans (other than to participants)2022-12-31$0
Expenses. Other expenses not covered elsewhere2022-12-31$0
Contributions received from other sources (not participants or employers)2022-12-31$17,000
Other income received2022-12-31$-863,366
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$-352,642
Net plan assets at end of year (total assets less liabilities)2022-12-31$4,565,340
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$4,917,982
Assets. Value of participant loans2022-12-31$130,055
Assets. Value of assets in partnership/joint-venture interests2022-12-31$0
Assets. Value of real-estate (other than employer real property)2022-12-31$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
Assets. Value of employer securities2022-12-31$0
Assets. Value of employer real property2022-12-31$0
Total contributions received or receivable from employer(s)2022-12-31$218,783
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$863
2021 : ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT 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$1,350,257
Expenses. Total of all expenses incurred2021-12-31$424,350
Benefits paid (including direct rollovers)2021-12-31$423,819
Total plan assets at end of year2021-12-31$4,917,982
Total plan assets at beginning of year2021-12-31$3,992,075
Value of fidelity bond covering the plan2021-12-31$500,000
Total contributions received or receivable from participants2021-12-31$491,827
Expenses. Other expenses not covered elsewhere2021-12-31$0
Contributions received from other sources (not participants or employers)2021-12-31$65,395
Other income received2021-12-31$590,305
Noncash contributions received2021-12-31$0
Net income (gross income less expenses)2021-12-31$925,907
Net plan assets at end of year (total assets less liabilities)2021-12-31$4,917,982
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$3,992,075
Assets. Value of participant loans2021-12-31$74,555
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$202,730
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$531
2020 : ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT 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$1,165,717
Expenses. Total of all expenses incurred2020-12-31$227,524
Benefits paid (including direct rollovers)2020-12-31$227,061
Total plan assets at end of year2020-12-31$3,992,075
Total plan assets at beginning of year2020-12-31$3,053,882
Value of fidelity bond covering the plan2020-12-31$275,000
Assets. Value of tangible personal property2020-12-31$0
Total contributions received or receivable from participants2020-12-31$426,803
Assets. Value of loans (other than to participants)2020-12-31$0
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$554,459
Noncash contributions received2020-12-31$0
Net income (gross income less expenses)2020-12-31$938,193
Net plan assets at end of year (total assets less liabilities)2020-12-31$3,992,075
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$3,053,882
Assets. Value of participant loans2020-12-31$101,740
Assets. Value of assets in partnership/joint-venture interests2020-12-31$0
Assets. Value of real-estate (other than employer real property)2020-12-31$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
Assets. Value of employer securities2020-12-31$0
Assets. Value of employer real property2020-12-31$0
Total contributions received or receivable from employer(s)2020-12-31$184,455
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$463
2019 : ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT PLAN 2019 401k financial data
Transfers to/from the plan2019-12-31$0
Total plan liabilities at end of year2019-12-31$0
Total plan liabilities at beginning of year2019-12-31$0
Total income from all sources2019-12-31$1,151,750
Expenses. Total of all expenses incurred2019-12-31$383,138
Benefits paid (including direct rollovers)2019-12-31$381,874
Total plan assets at end of year2019-12-31$3,053,882
Total plan assets at beginning of year2019-12-31$2,285,270
Value of fidelity bond covering the plan2019-12-31$275,000
Total contributions received or receivable from participants2019-12-31$343,615
Expenses. Other expenses not covered elsewhere2019-12-31$0
Contributions received from other sources (not participants or employers)2019-12-31$114,549
Other income received2019-12-31$544,228
Noncash contributions received2019-12-31$0
Net income (gross income less expenses)2019-12-31$768,612
Net plan assets at end of year (total assets less liabilities)2019-12-31$3,053,882
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$2,285,270
Assets. Value of participant loans2019-12-31$118,578
Total contributions received or receivable from employer(s)2019-12-31$149,358
Value of certain deemed distributions of participant loans2019-12-31$0
Value of corrective distributions2019-12-31$470
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$794
2018 : ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT PLAN 2018 401k financial data
Transfers to/from the plan2018-12-31$0
Total plan liabilities at end of year2018-12-31$0
Total plan liabilities at beginning of year2018-12-31$0
Total income from all sources2018-12-31$417,084
Expenses. Total of all expenses incurred2018-12-31$471,984
Benefits paid (including direct rollovers)2018-12-31$517,230
Total plan assets at end of year2018-12-31$2,285,270
Total plan assets at beginning of year2018-12-31$2,340,170
Value of fidelity bond covering the plan2018-12-31$275,000
Total contributions received or receivable from participants2018-12-31$334,446
Expenses. Other expenses not covered elsewhere2018-12-31$0
Contributions received from other sources (not participants or employers)2018-12-31$65,000
Other income received2018-12-31$-144,985
Noncash contributions received2018-12-31$0
Net income (gross income less expenses)2018-12-31$-54,900
Net plan assets at end of year (total assets less liabilities)2018-12-31$2,285,270
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$2,340,170
Assets. Value of participant loans2018-12-31$87,706
Total contributions received or receivable from employer(s)2018-12-31$162,623
Value of certain deemed distributions of participant loans2018-12-31$-45,821
Value of corrective distributions2018-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$575
2017 : ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT PLAN 2017 401k financial data
Transfers to/from the plan2017-12-31$0
Total plan liabilities at end of year2017-12-31$0
Total plan liabilities at beginning of year2017-12-31$0
Total income from all sources2017-12-31$847,308
Expenses. Total of all expenses incurred2017-12-31$947,918
Benefits paid (including direct rollovers)2017-12-31$940,477
Total plan assets at end of year2017-12-31$2,340,170
Total plan assets at beginning of year2017-12-31$2,440,780
Value of fidelity bond covering the plan2017-12-31$275,000
Total contributions received or receivable from participants2017-12-31$277,317
Expenses. Other expenses not covered elsewhere2017-12-31$0
Contributions received from other sources (not participants or employers)2017-12-31$80,832
Other income received2017-12-31$338,429
Noncash contributions received2017-12-31$0
Net income (gross income less expenses)2017-12-31$-100,610
Net plan assets at end of year (total assets less liabilities)2017-12-31$2,340,170
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$2,440,780
Assets. Value of participant loans2017-12-31$90,493
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022017-12-31$0
Total contributions received or receivable from employer(s)2017-12-31$150,730
Value of certain deemed distributions of participant loans2017-12-31$6,441
Value of corrective distributions2017-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$1,000

Form 5500 Responses for ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT PLAN

2022: ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01This submission is the final filingNo
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT 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: ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT 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
2019: ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT 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 – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT 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 – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: ADVANCE CONVERGENCE GROUP 401(K) RETIREMENT 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

Insurance Providers Used on plan

JOHN HANCOCK LIFE INSURANCE COMPANY OF NEW YORK (National Association of Insurance Commissioners NAIC id number: 86375 )
Policy contract number800109
Policy instance 1
Insurance contract or identification number800109
Number of Individuals Covered0
Insurance policy start date2017-01-01
Insurance policy end date2017-04-30
Total amount of commissions paid to insurance brokerUSD $1,869
Total amount of fees paid to insurance companyUSD $1,034
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?Yes
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 $1,869
Amount paid for insurance broker fees0
Additional information about fees paid to insurance brokerBROKER COMMISSION
Insurance broker nameTHE BENEFIT PRACTICE

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