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THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC. 401k Plan overview

Plan NameTHE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC.
Plan identification number 004

THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC. 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
  • 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.
  • 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

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

Company Name:BOAST MOTORS, INC.
Employer identification number (EIN):591036376
NAIC Classification:441110
NAIC Description:New Car Dealers

Additional information about BOAST MOTORS, INC.

Jurisdiction of Incorporation: Florida Department of State Division of Corporations
Incorporation Date: 1963-12-03
Company Identification Number: 276111
Legal Registered Office Address: 1206 MANATEE AVENUE WEST

BRADENTON

34205

More information about BOAST MOTORS, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC.

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0042019-01-01LEE D. VOGT2020-05-12
0042018-01-01
0042017-01-01
0042016-01-01
0042015-10-01

Plan Statistics for THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC.

401k plan membership statisitcs for THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC.

Measure Date Value
2019: THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC. 2019 401k membership
Total participants, beginning-of-year2019-01-0155
Total number of active participants reported on line 7a of the Form 55002019-01-010
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-010
Total of all active and inactive participants2019-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-010
Number of participants with account balances2019-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC. 2018 401k membership
Total participants, beginning-of-year2018-01-0170
Total number of active participants reported on line 7a of the Form 55002018-01-0137
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-0127
Total of all active and inactive participants2018-01-0164
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-0164
Number of participants with account balances2018-01-0136
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010
2017: THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC. 2017 401k membership
Total participants, beginning-of-year2017-01-0175
Total number of active participants reported on line 7a of the Form 55002017-01-0138
Number of retired or separated participants receiving benefits2017-01-010
Number of other retired or separated participants entitled to future benefits2017-01-0130
Total of all active and inactive participants2017-01-0168
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-0168
Number of participants with account balances2017-01-0139
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-010
2016: THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC. 2016 401k membership
Total participants, beginning-of-year2016-01-0179
Total number of active participants reported on line 7a of the Form 55002016-01-0139
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-0139
Total of all active and inactive participants2016-01-0178
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-0178
Number of participants with account balances2016-01-0146
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-010
2015: THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC. 2015 401k membership
Total participants, beginning-of-year2015-10-010
Total number of active participants reported on line 7a of the Form 55002015-10-0136
Number of retired or separated participants receiving benefits2015-10-010
Number of other retired or separated participants entitled to future benefits2015-10-0116
Total of all active and inactive participants2015-10-0152
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-10-010
Total participants2015-10-0152
Number of participants with account balances2015-10-0121
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-10-011

Financial Data on THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC.

Measure Date Value
2019 : THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC. 2019 401k financial data
Transfers to/from the plan2019-10-28$-219,796
Total income from all sources2019-10-28$48,530
Expenses. Total of all expenses incurred2019-10-28$34,595
Benefits paid (including direct rollovers)2019-10-28$29,032
Total plan assets at end of year2019-10-28$0
Total plan assets at beginning of year2019-10-28$205,861
Value of fidelity bond covering the plan2019-10-28$200,000
Total contributions received or receivable from participants2019-10-28$22,649
Contributions received from other sources (not participants or employers)2019-10-28$15
Other income received2019-10-28$25,866
Net income (gross income less expenses)2019-10-28$13,935
Net plan assets at end of year (total assets less liabilities)2019-10-28$0
Net plan assets at beginning of year (total assets less liabilities)2019-10-28$205,861
Assets. Value of participant loans2019-10-28$0
Expenses. Administrative service providers (salaries,fees and commissions)2019-10-28$5,563
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-10-28$0
2018 : THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC. 2018 401k financial data
Total income from all sources2018-12-31$1,252
Expenses. Total of all expenses incurred2018-12-31$3,893
Total plan assets at end of year2018-12-31$205,861
Total plan assets at beginning of year2018-12-31$208,502
Value of fidelity bond covering the plan2018-12-31$200,000
Total contributions received or receivable from participants2018-12-31$11,349
Contributions received from other sources (not participants or employers)2018-12-31$1,035
Other income received2018-12-31$-11,132
Net income (gross income less expenses)2018-12-31$-2,641
Net plan assets at end of year (total assets less liabilities)2018-12-31$205,861
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$208,502
Assets. Value of participant loans2018-12-31$19,704
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$3,893
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2018-12-31$0
2017 : THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC. 2017 401k financial data
Total income from all sources2017-12-31$40,520
Expenses. Total of all expenses incurred2017-12-31$9,430
Benefits paid (including direct rollovers)2017-12-31$4,897
Total plan assets at end of year2017-12-31$208,502
Total plan assets at beginning of year2017-12-31$177,412
Value of fidelity bond covering the plan2017-12-31$200,000
Total contributions received or receivable from participants2017-12-31$9,961
Contributions received from other sources (not participants or employers)2017-12-31$23
Other income received2017-12-31$30,536
Net income (gross income less expenses)2017-12-31$31,090
Net plan assets at end of year (total assets less liabilities)2017-12-31$208,502
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$177,412
Assets. Value of participant loans2017-12-31$17,492
Total contributions received or receivable from employer(s)2017-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$4,533
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2017-12-31$0
2016 : THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC. 2016 401k financial data
Total income from all sources2016-12-31$18,247
Expenses. Total of all expenses incurred2016-12-31$7,678
Benefits paid (including direct rollovers)2016-12-31$2,361
Total plan assets at end of year2016-12-31$177,412
Total plan assets at beginning of year2016-12-31$166,843
Value of fidelity bond covering the plan2016-12-31$200,000
Total contributions received or receivable from participants2016-12-31$6,000
Expenses. Other expenses not covered elsewhere2016-12-31$2,864
Contributions received from other sources (not participants or employers)2016-12-31$954
Other income received2016-12-31$11,293
Net income (gross income less expenses)2016-12-31$10,569
Net plan assets at end of year (total assets less liabilities)2016-12-31$177,412
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$166,843
Assets. Value of participant loans2016-12-31$7,098
Expenses. Administrative service providers (salaries,fees and commissions)2016-12-31$2,453
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2016-12-31$0
2015 : THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC. 2015 401k financial data
Transfers to/from the plan2015-12-31$166,653
Total income from all sources2015-12-31$190
Expenses. Total of all expenses incurred2015-12-31$0
Total plan assets at end of year2015-12-31$166,843
Total plan assets at beginning of year2015-12-31$0
Contributions received from other sources (not participants or employers)2015-12-31$675
Other income received2015-12-31$-485
Net income (gross income less expenses)2015-12-31$190
Net plan assets at end of year (total assets less liabilities)2015-12-31$166,843
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2015-12-31$0

Form 5500 Responses for THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC.

2019: THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC. 2019 form 5500 responses
2019-01-01Type of plan entityMulitple employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingYes
2019-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC. 2018 form 5500 responses
2018-01-01Type of plan entityMulitple 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: THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC. 2017 form 5500 responses
2017-01-01Type of plan entityMulitple 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 – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC. 2016 form 5500 responses
2016-01-01Type of plan entityMulitple employer plan
2016-01-01Submission has been amendedNo
2016-01-01This submission is the final filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes
2015: THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO BOAST MOTORS, INC. 2015 form 5500 responses
2015-10-01Type of plan entityMulitple employer plan
2015-10-01First time form 5500 has been submittedYes
2015-10-01Submission has been amendedNo
2015-10-01This submission is the final filingNo
2015-10-01This return/report is a short plan year return/report (less than 12 months)Yes
2015-10-01Plan is a collectively bargained planNo
2015-10-01Plan funding arrangement – TrustYes
2015-10-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number121219
Policy instance 1
Insurance contract or identification number121219
Number of Individuals Covered0
Insurance policy start date2019-01-01
Insurance policy end date2019-10-28
Total amount of commissions paid to insurance brokerUSD $92
Total amount of fees paid to insurance companyUSD $3,879
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?No
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 $92
Amount paid for insurance broker fees3879
Additional information about fees paid to insurance brokerSALES/ADMINISTRATION
Insurance broker organization code?5
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number121219
Policy instance 1
Insurance contract or identification number121219
Number of Individuals Covered61
Insurance policy start date2018-01-01
Insurance policy end date2018-12-31
Total amount of commissions paid to insurance brokerUSD $107
Total amount of fees paid to insurance companyUSD $1,668
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?No
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 $107
Amount paid for insurance broker fees1668
Additional information about fees paid to insurance brokerSALES/ADMINISTRATION
Insurance broker organization code?5
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number121219
Policy instance 1
Insurance contract or identification number121219
Number of Individuals Covered59
Insurance policy start date2017-01-01
Insurance policy end date2017-12-31
Total amount of commissions paid to insurance brokerUSD $308
Total amount of fees paid to insurance companyUSD $2,011
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?No
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 $96
Amount paid for insurance broker fees2011
Additional information about fees paid to insurance brokerSALES/ADMINISTRATION
Insurance broker organization code?5
Insurance broker nameEDWARD D JONES COMPANY
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number121219
Policy instance 1
Insurance contract or identification number121219
Number of Individuals Covered61
Insurance policy start date2015-10-01
Insurance policy end date2015-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $49
Are there contracts with allocated funds for individual policies?No
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?No
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
Amount paid for insurance broker fees35
Additional information about fees paid to insurance brokerSALES/ADMINISTRATION
Insurance broker organization code?5
Insurance broker nameINDEPENDENT FINANCIAL PARTNERS

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