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YOUNG'S WELDING, INC. PROFIT SHARING PLAN & TRUST 401k Plan overview

Plan NameYOUNG'S WELDING, INC. PROFIT SHARING PLAN & TRUST
Plan identification number 001

YOUNG'S WELDING, INC. PROFIT SHARING PLAN & TRUST 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

YOUNGS WELDING INC has sponsored the creation of one or more 401k plans.

Company Name:YOUNGS WELDING INC
Employer identification number (EIN):480720304
NAIC Classification:336990

Form 5500 Filing Information

Submission information for form 5500 for 401k plan YOUNG'S WELDING, INC. PROFIT SHARING PLAN & TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-10-01JOHN SCOVILL2024-02-21 JOHN SCOVILL2024-02-21
0012021-10-01JOHN SCOVILL2023-04-13 JOHN SCOVILL2023-04-13
0012020-10-01JOHN SCOVILL2022-07-01 JOHN SCOVILL2022-07-01
0012019-10-01JOHN SCOVILL2021-04-22 JOHN SCOVILL2021-04-22
0012018-10-01JOHN SCOVILL2020-04-03 JOHN SCOVILL2020-04-03
0012017-10-01JOHN SCOVILL2019-04-29 JOHN SCOVILL2019-04-29
0012016-10-01JOHN SCOVILL2018-07-03 JOHN SCOVILL2018-07-03
0012015-10-01JOHN SCOVILL2017-06-23 JOHN SCOVILL2017-06-23
0012014-10-01
0012013-10-01DARRYN YOUNG2014-12-22
0012012-10-01DARRYN YOUNG2013-12-16
0012011-10-01DARRYN YOUNG2013-01-14
0012010-10-01DARRYN YOUNG2012-04-09

Plan Statistics for YOUNG'S WELDING, INC. PROFIT SHARING PLAN & TRUST

401k plan membership statisitcs for YOUNG'S WELDING, INC. PROFIT SHARING PLAN & TRUST

Measure Date Value
2025: YOUNG'S WELDING, INC. PROFIT SHARING PLAN & TRUST 2025 401k membership
Total number of particpants at beginning of year2025-02-0763
Total number of particpants at end of year2025-02-0757
Number of Participants With Account Balances2025-02-0735
2023: YOUNG'S WELDING, INC. PROFIT SHARING PLAN & TRUST 2023 401k membership
Total number of particpants at beginning of year2023-04-1369
Total number of particpants at end of year2023-04-1352
Number of Participants With Account Balances2023-04-1337

Financial Data on YOUNG'S WELDING, INC. PROFIT SHARING PLAN & TRUST

Measure Date Value
2025 : YOUNG'S WELDING, INC. PROFIT SHARING PLAN & TRUST 2025 401k financial data
Total expenses incurred by plan in this plan year2025-02-07222843
Net assets as of the end of the plan year2025-02-072803182
Total assets as of the beginning of the plan year2025-02-072303524
Value of plan covered by a fidelity bond2025-02-07500000
Participant contributions to plan in this plan year2025-02-07107833
Value of participant loans at end of plan year2025-02-07139792
Other contributions to plan in this plan year2025-02-070
Other income to plan in this plan year2025-02-07578482
Plan net income in this plan year2025-02-07499658
Net assets as of the end of the plan year2025-02-072803182
Net assets as of the beginning of the plan year2025-02-072303524
Employer contributions to plan in this plan year2025-02-0736186
Expensese paid to adminstrative service provicers from plan in this plan year2025-02-0725058
2023 : YOUNG'S WELDING, INC. PROFIT SHARING PLAN & TRUST 2023 401k financial data
Total expenses incurred by plan in this plan year2023-04-13388677
Net assets as of the end of the plan year2023-04-132136972
Total assets as of the beginning of the plan year2023-04-132912848
Value of plan covered by a fidelity bond2023-04-13500000
Participant contributions to plan in this plan year2023-04-1375740
Value of participant loans at end of plan year2023-04-13161262
Other income to plan in this plan year2023-04-13-490807
Plan net income in this plan year2023-04-13-775876
Net assets as of the end of the plan year2023-04-132136972
Net assets as of the beginning of the plan year2023-04-132912848
Employer contributions to plan in this plan year2023-04-1327868
Expensese paid to adminstrative service provicers from plan in this plan year2023-04-1328350

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