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BIXAL SOLUTIONS INC. 401(K) RETIREMENT PLAN 401k Plan overview

Plan NameBIXAL SOLUTIONS INC. 401(K) RETIREMENT PLAN
Plan identification number 001

BIXAL SOLUTIONS INC. 401(K) 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.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • 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

BIXAL SOLUTIONS INC. has sponsored the creation of one or more 401k plans.

Company Name:BIXAL SOLUTIONS INC.
Employer identification number (EIN):542056504
NAIC Classification:541600

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BIXAL SOLUTIONS INC. 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
0012020-01-01JOSE BRICENO2021-09-25 JOSE BRICENO2021-09-25
0012019-01-01JOSE BRICENP2020-07-28 JOSE BRICENP2020-07-28
0012018-01-01JOSE BRICENO2019-06-22 JOSE BRICENO2019-06-22
0012017-01-01JOSE BRICENO2018-04-20 JOSE BRICENO2018-04-20
0012016-01-01JOSE BRICENO2017-09-21 JOSE BRICENO2017-09-21

Plan Statistics for BIXAL SOLUTIONS INC. 401(K) RETIREMENT PLAN

401k plan membership statisitcs for BIXAL SOLUTIONS INC. 401(K) RETIREMENT PLAN

Measure Date Value
2022: BIXAL SOLUTIONS INC. 401(K) RETIREMENT PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01175
Total number of active participants reported on line 7a of the Form 55002022-01-01223
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-0131
Total of all active and inactive participants2022-01-01254
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01254
Number of participants with account balances2022-01-01202
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: BIXAL SOLUTIONS INC. 401(K) RETIREMENT PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-01161
Total number of active participants reported on line 7a of the Form 55002021-01-01144
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-0126
Total of all active and inactive participants2021-01-01170
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-01170
Number of participants with account balances2021-01-01135
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010

Financial Data on BIXAL SOLUTIONS INC. 401(K) RETIREMENT PLAN

Measure Date Value
2022 : BIXAL SOLUTIONS INC. 401(K) RETIREMENT PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total income from all sources (including contributions)2022-12-31$1,655,924
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$621,041
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$589,031
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$2,738,110
Value of total assets at end of year2022-12-31$6,806,124
Value of total assets at beginning of year2022-12-31$5,771,241
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$32,010
Total interest from all sources2022-12-31$5,008
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$5,409
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2022-12-31$5,409
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$500,000
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$1,513,406
Participant contributions at end of year2022-12-31$55,948
Participant contributions at beginning of year2022-12-31$92,089
Assets. Other investments not covered elsewhere at end of year2022-12-31$98,111
Assets. Other investments not covered elsewhere at beginning of year2022-12-31$154,463
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$589,762
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2022-12-31$4,416
Other income not declared elsewhere2022-12-31$-27,715
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$1,034,883
Value of net assets at end of year (total assets less liabilities)2022-12-31$6,806,124
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$5,771,241
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-12-31$365,046
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$300,843
Value of interest in pooled separate accounts at end of year2022-12-31$1,181,175
Value of interest in pooled separate accounts at beginning of year2022-12-31$1,048,383
Interest on participant loans2022-12-31$3,242
Interest earned on other investments2022-12-31$1,766
Value of interest in common/collective trusts at end of year2022-12-31$5,009,746
Value of interest in common/collective trusts at beginning of year2022-12-31$3,846,978
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2022-12-31$96,098
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2022-12-31$328,485
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-61,138
Net investment gain/loss from pooled separate accounts2022-12-31$-259,649
Net investment gain or loss from common/collective trusts2022-12-31$-744,101
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$634,942
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$584,615
Contract administrator fees2022-12-31$32,010
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31CHERRY BEKAERT, LLP
Accountancy firm EIN2022-12-31560574444
2021 : BIXAL SOLUTIONS INC. 401(K) RETIREMENT PLAN 2021 401k financial data
Total unrealized appreciation/depreciation of assets2021-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total income from all sources (including contributions)2021-12-31$2,700,511
Total loss/gain on sale of assets2021-12-31$0
Total of all expenses incurred2021-12-31$475,773
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$456,074
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$2,004,092
Value of total assets at end of year2021-12-31$5,771,241
Value of total assets at beginning of year2021-12-31$3,546,503
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$19,699
Total interest from all sources2021-12-31$3,205
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$1,042
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2021-12-31$1,042
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$385,000
If this is an individual account plan, was there a blackout period2021-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Contributions received from participants2021-12-31$1,041,923
Participant contributions at end of year2021-12-31$92,089
Participant contributions at beginning of year2021-12-31$34,579
Assets. Other investments not covered elsewhere at end of year2021-12-31$154,463
Income. Received or receivable in cash from other sources (including rollovers)2021-12-31$531,741
Other income not declared elsewhere2021-12-31$16,310
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$2,224,738
Value of net assets at end of year (total assets less liabilities)2021-12-31$5,771,241
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$3,546,503
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2021-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2021-12-31No
Were any leases to which the plan was party in default or uncollectible2021-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2021-12-31$300,843
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-12-31$219,471
Value of interest in pooled separate accounts at end of year2021-12-31$1,048,383
Value of interest in pooled separate accounts at beginning of year2021-12-31$968,078
Interest on participant loans2021-12-31$2,062
Interest earned on other investments2021-12-31$1,143
Value of interest in common/collective trusts at end of year2021-12-31$3,846,978
Value of interest in common/collective trusts at beginning of year2021-12-31$2,306,118
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2021-12-31$328,485
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2021-12-31$18,257
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-12-31$55,284
Net investment gain/loss from pooled separate accounts2021-12-31$187,781
Net investment gain or loss from common/collective trusts2021-12-31$432,797
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-12-31No
Was there a failure to transmit to the plan any participant contributions2021-12-31No
Has the plan failed to provide any benefit when due under the plan2021-12-31No
Contributions received in cash from employer2021-12-31$430,428
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$456,074
Contract administrator fees2021-12-31$19,699
Did the plan have assets held for investment2021-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2021-12-31No
Opinion of an independent qualified public accountant for this plan2021-12-31Unqualified
Accountancy firm name2021-12-31ANDERS MINKLER HUBER & HELM, LLP
Accountancy firm EIN2021-12-31430831507

Form 5500 Responses for BIXAL SOLUTIONS INC. 401(K) RETIREMENT PLAN

2022: BIXAL SOLUTIONS INC. 401(K) RETIREMENT PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01This submission is the final filingNo
2022-01-01This 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: BIXAL SOLUTIONS INC. 401(K) RETIREMENT PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedYes
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

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number613953
Policy instance 1
Insurance contract or identification number613953
Number of Individuals Covered254
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $994
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $994
Amount paid for insurance broker fees0
Insurance broker organization code?3
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number527446
Policy instance 2
Insurance contract or identification number527446
Number of Individuals Covered254
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $4,414
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
Commission paid to Insurance BrokerUSD $4,414
Amount paid for insurance broker fees0
Insurance broker organization code?3
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number613953
Policy instance 1
Insurance contract or identification number613953
Number of Individuals Covered170
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $505
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $505
Amount paid for insurance broker fees0
Insurance broker organization code?3
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number527446
Policy instance 2
Insurance contract or identification number527446
Number of Individuals Covered170
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $5,044
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
Commission paid to Insurance BrokerUSD $5,044
Amount paid for insurance broker fees0
Insurance broker organization code?3

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