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CAROLINA IT PROFESSIONALS INC 401 K PROFIT SHARING PLAN TRUST 401k Plan overview

Plan NameCAROLINA IT PROFESSIONALS INC 401 K PROFIT SHARING PLAN TRUST
Plan identification number 001

CAROLINA IT PROFESSIONALS INC 401 K PROFIT SHARING PLAN TRUST 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.

401k Sponsoring company profile

CAROLINA IT PROFESSIONALS INC has sponsored the creation of one or more 401k plans.

Company Name:CAROLINA IT PROFESSIONALS INC
Employer identification number (EIN):562238013
NAIC Classification:541990
NAIC Description:All Other Professional, Scientific, and Technical Services

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CAROLINA IT PROFESSIONALS INC 401 K PROFIT SHARING PLAN TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01DAVID MCCONNELL2024-04-22
0012022-01-01DAVID MCCONNELL2023-07-28
0012021-01-01DAVID MCCONNELL2022-07-29
0012020-01-01DAVID MCCONNELL2022-02-04
0012019-01-01DAVID MCCONNELL2020-10-15
0012018-01-01DAVID L. MCCONNELL, JR2019-07-19
0012017-01-01DAVID MCCONNELL2018-07-30

Plan Statistics for CAROLINA IT PROFESSIONALS INC 401 K PROFIT SHARING PLAN TRUST

401k plan membership statisitcs for CAROLINA IT PROFESSIONALS INC 401 K PROFIT SHARING PLAN TRUST

Measure Date Value
2025: CAROLINA IT PROFESSIONALS INC 401 K PROFIT SHARING PLAN TRUST 2025 401k membership
Total number of particpants at beginning of year2025-07-1430
Total number of particpants at end of year2025-07-1431
Number of Participants With Account Balances2025-07-1413
2024: CAROLINA IT PROFESSIONALS INC 401 K PROFIT SHARING PLAN TRUST 2024 401k membership
Total number of particpants at beginning of year2024-04-2232
Total number of particpants at end of year2024-04-2236
Number of Participants With Account Balances2024-04-2212
2022: CAROLINA IT PROFESSIONALS INC 401 K PROFIT SHARING PLAN TRUST 2022 401k membership
Total number of particpants at beginning of year2022-07-2963
Total number of particpants at end of year2022-07-2933
Number of Participants With Account Balances2022-07-2911

Financial Data on CAROLINA IT PROFESSIONALS INC 401 K PROFIT SHARING PLAN TRUST

Measure Date Value
2025 : CAROLINA IT PROFESSIONALS INC 401 K PROFIT SHARING PLAN TRUST 2025 401k financial data
Total transfers to/from plan in this plan year2025-07-140
Total liabilities as of the end of the plan year2025-07-140
Total liabilities as of the beginning of the plan year2025-07-140
Total expenses incurred by plan in this plan year2025-07-14980
Net assets as of the end of the plan year2025-07-14209634
Total assets as of the beginning of the plan year2025-07-1499225
Value of plan covered by a fidelity bond2025-07-1420000
Participant contributions to plan in this plan year2025-07-1421470
Value of participant loans at end of plan year2025-07-147636
Other expenses paid from plan in this plan year2025-07-140
Other contributions to plan in this plan year2025-07-1473767
Other income to plan in this plan year2025-07-1416152
Plan net income in this plan year2025-07-14110409
Net assets as of the end of the plan year2025-07-14209634
Net assets as of the beginning of the plan year2025-07-1499225
Employer contributions to plan in this plan year2025-07-140
Expensese paid to adminstrative service provicers from plan in this plan year2025-07-14980
2024 : CAROLINA IT PROFESSIONALS INC 401 K PROFIT SHARING PLAN TRUST 2024 401k financial data
Total transfers to/from plan in this plan year2024-04-220
Total liabilities as of the end of the plan year2024-04-220
Total liabilities as of the beginning of the plan year2024-04-220
Total expenses incurred by plan in this plan year2024-04-222032
Net assets as of the end of the plan year2024-04-2299225
Total assets as of the beginning of the plan year2024-04-2273986
Value of plan covered by a fidelity bond2024-04-2220000
Participant contributions to plan in this plan year2024-04-2217691
Other expenses paid from plan in this plan year2024-04-220
Other contributions to plan in this plan year2024-04-220
Other income to plan in this plan year2024-04-229580
Plan net income in this plan year2024-04-2225239
Net assets as of the end of the plan year2024-04-2299225
Net assets as of the beginning of the plan year2024-04-2273986
Employer contributions to plan in this plan year2024-04-220
Expensese paid to adminstrative service provicers from plan in this plan year2024-04-22935
2022 : CAROLINA IT PROFESSIONALS INC 401 K PROFIT SHARING PLAN TRUST 2022 401k financial data
Total transfers to/from plan in this plan year2022-07-290
Total liabilities as of the end of the plan year2022-07-290
Total liabilities as of the beginning of the plan year2022-07-290
Total expenses incurred by plan in this plan year2022-07-2917013
Net assets as of the end of the plan year2022-07-2965714
Total assets as of the beginning of the plan year2022-07-2945262
Value of plan covered by a fidelity bond2022-07-2920000
Participant contributions to plan in this plan year2022-07-2933728
Other expenses paid from plan in this plan year2022-07-290
Other contributions to plan in this plan year2022-07-290
Other income to plan in this plan year2022-07-293737
Plan net income in this plan year2022-07-2920452
Net assets as of the end of the plan year2022-07-2965714
Net assets as of the beginning of the plan year2022-07-2945262
Employer contributions to plan in this plan year2022-07-290
Expensese paid to adminstrative service provicers from plan in this plan year2022-07-291082

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