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

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

THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO TEM SYSTEMS, INC. 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.
  • 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

TEM SYSTEMS INC has sponsored the creation of one or more 401k plans.

Company Name:TEM SYSTEMS INC
Employer identification number (EIN):591143162
NAIC Classification:561600

Form 5500 Filing Information

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

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0042020-01-01TERRANCE P. POWER2021-10-13
0042019-01-01LEE D. VOGT2020-10-12

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

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

Measure Date Value
2020: THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO TEM SYSTEMS, INC. 2020 401k membership
Total participants, beginning-of-year2020-01-0121
Total number of active participants reported on line 7a of the Form 55002020-01-0121
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-010
Total of all active and inactive participants2020-01-0121
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-0121
Number of participants with account balances2020-01-0115
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO TEM SYSTEMS, INC. 2019 401k membership
Total participants, beginning-of-year2019-01-010
Total number of active participants reported on line 7a of the Form 55002019-01-0121
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 participants2019-01-0121
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-0121
Number of participants with account balances2019-01-0121
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010

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

Measure Date Value
2020 : THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO TEM SYSTEMS, INC. 2020 401k financial data
Total income from all sources2020-12-31$219,518
Expenses. Total of all expenses incurred2020-12-31$17,437
Benefits paid (including direct rollovers)2020-12-31$3,109
Total plan assets at end of year2020-12-31$1,476,783
Total plan assets at beginning of year2020-12-31$1,274,702
Total contributions received or receivable from participants2020-12-31$66,742
Other income received2020-12-31$152,776
Net income (gross income less expenses)2020-12-31$202,081
Net plan assets at end of year (total assets less liabilities)2020-12-31$1,476,783
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$1,274,702
Assets. Value of participant loans2020-12-31$42,306
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$14,328
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
2019 : THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO TEM SYSTEMS, INC. 2019 401k financial data
Total income from all sources2019-12-31$1,776,811
Expenses. Total of all expenses incurred2019-12-31$502,109
Benefits paid (including direct rollovers)2019-12-31$491,540
Total plan assets at end of year2019-12-31$1,274,702
Total plan assets at beginning of year2019-12-31$0
Total contributions received or receivable from participants2019-12-31$52,202
Contributions received from other sources (not participants or employers)2019-12-31$1,615,801
Other income received2019-12-31$108,284
Net income (gross income less expenses)2019-12-31$1,274,702
Net plan assets at end of year (total assets less liabilities)2019-12-31$1,274,702
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$0
Assets. Value of participant loans2019-12-31$59,703
Total contributions received or receivable from employer(s)2019-12-31$524
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$10,569
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 THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO TEM SYSTEMS, INC.

2020: THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO TEM SYSTEMS, INC. 2020 form 5500 responses
2020-01-01Type of plan entityMulitple employer plan
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingNo
2020-01-01This return/report is a short plan year return/report (less than 12 months)No
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – InsuranceYes
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO TEM SYSTEMS, INC. 2019 form 5500 responses
2019-01-01Type of plan entityMulitple employer plan
2019-01-01First time form 5500 has been submittedYes
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 - 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 number138535
Policy instance 1
Insurance contract or identification number138535
Number of Individuals Covered20
Insurance policy start date2020-01-01
Insurance policy end date2020-12-31
Total amount of commissions paid to insurance brokerUSD $3,933
Total amount of fees paid to insurance companyUSD $3,653
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 $858
Amount paid for insurance broker fees3653
Additional information about fees paid to insurance brokerFEES
Insurance broker organization code?5
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number138535
Policy instance 1
Insurance contract or identification number138535
Number of Individuals Covered21
Insurance policy start date2019-01-01
Insurance policy end date2019-12-31
Total amount of commissions paid to insurance brokerUSD $5,902
Total amount of fees paid to insurance companyUSD $3,122
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 $3,993
Amount paid for insurance broker fees3122
Additional information about fees paid to insurance brokerFEES
Insurance broker organization code?5

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