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SCOTTWEST, INC. EMPLOYEES' RETIREMENT PLAN 401k Plan overview

Plan NameSCOTTWEST, INC. EMPLOYEES' RETIREMENT PLAN
Plan identification number 001

SCOTTWEST, INC. EMPLOYEES' RETIREMENT PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • 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

SCOTTWEST, INC. has sponsored the creation of one or more 401k plans.

Company Name:SCOTTWEST, INC.
Employer identification number (EIN):474258402
NAIC Classification:541800

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SCOTTWEST, INC. EMPLOYEES' RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01JAMES WESTERMAN2023-07-07
0012021-01-01JAMES WESTERMAN2022-05-31
0012020-01-01JAMES WESTERMAN2021-09-27
0012019-01-01
0012018-01-01JAMES WESTERMAN2019-04-24 CHRIS KOSCH2019-04-29
0012017-01-01JAMES WESTERMAN2018-07-27 CHRIS KOSCH2018-07-27
0012016-01-01JAMES WESTERMAN2017-07-31 CHRIS KOSCH2017-07-31
0012015-12-01CHRIS KOSCH2016-06-01 JAMES WESTERMAN2016-06-01
0012014-12-01CHRIS KOSCH2016-06-01 JAMES WESTERMAN2016-06-01

Plan Statistics for SCOTTWEST, INC. EMPLOYEES' RETIREMENT PLAN

401k plan membership statisitcs for SCOTTWEST, INC. EMPLOYEES' RETIREMENT PLAN

Measure Date Value
2019: SCOTTWEST, INC. EMPLOYEES' RETIREMENT PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-0134
Total number of active participants reported on line 7a of the Form 55002019-01-0125
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-0110
Total of all active and inactive participants2019-01-0135
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-0135
Number of participants with account balances2019-01-0133
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010

Financial Data on SCOTTWEST, INC. EMPLOYEES' RETIREMENT PLAN

Measure Date Value
2019 : SCOTTWEST, INC. EMPLOYEES' RETIREMENT PLAN 2019 401k financial data
Total income from all sources2019-12-31$1,936,257
Expenses. Total of all expenses incurred2019-12-31$2,334,563
Benefits paid (including direct rollovers)2019-12-31$2,277,623
Total plan assets at end of year2019-12-31$7,085,187
Total plan assets at beginning of year2019-12-31$7,483,493
Value of fidelity bond covering the plan2019-12-31$500,000
Total contributions received or receivable from participants2019-12-31$148,680
Other income received2019-12-31$1,655,207
Net income (gross income less expenses)2019-12-31$-398,306
Net plan assets at end of year (total assets less liabilities)2019-12-31$7,085,187
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$7,483,493
Assets. Value of participant loans2019-12-31$19,096
Total contributions received or receivable from employer(s)2019-12-31$132,370
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$56,940
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0

Form 5500 Responses for SCOTTWEST, INC. EMPLOYEES' RETIREMENT PLAN

2019: SCOTTWEST, INC. EMPLOYEES' 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 – InsuranceYes
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement – InsuranceYes
2019-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

NATIONWIDE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66869 )
Policy contract number95680012
Policy instance 1
Insurance contract or identification number95680012
Number of Individuals Covered33
Insurance policy start date2019-01-01
Insurance policy end date2019-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
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 $0
Insurance broker organization code?7

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