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PRIME, INC. SAVINGS PLAN AND TRUST 401k Plan overview

Plan NamePRIME, INC. SAVINGS PLAN AND TRUST
Plan identification number 001

PRIME, INC. SAVINGS PLAN AND 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

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

Company Name:PRIME, INC.
Employer identification number (EIN):631075203
NAIC Classification:722110
NAIC Description: Full-Service Restaurants

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PRIME, INC. SAVINGS PLAN AND TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012011-01-01PATRICIA MORRIS2011-11-11
0012010-01-01PATRICIA MORRIS2011-06-30

Financial Data on PRIME, INC. SAVINGS PLAN AND TRUST

Measure Date Value
2008 : PRIME, INC. SAVINGS PLAN AND TRUST 2008 401k financial data
Total income from all sources2008-12-31$-73,070
Expenses. Total of all expenses incurred2008-12-31$62,302
Benefits paid (including direct rollovers)2008-12-31$62,281
Total plan assets at end of year2008-12-31$288,984
Total plan assets at beginning of year2008-12-31$424,356
Value of fidelity bond covering the plan2008-12-31$150,000
Total contributions received or receivable from participants2008-12-31$26,607
Expenses. Other expenses not covered elsewhere2008-12-31$21
Other income received2008-12-31$-111,549
Net income (gross income less expenses)2008-12-31$-135,372
Net plan assets at end of year (total assets less liabilities)2008-12-31$288,984
Net plan assets at beginning of year (total assets less liabilities)2008-12-31$424,356
Assets. Value of participant loans2008-12-31$35,840
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022008-12-31$37,138
Total contributions received or receivable from employer(s)2008-12-31$11,872
2007 : PRIME, INC. SAVINGS PLAN AND TRUST 2007 401k financial data
Total income from all sources2007-12-31$48,977
Expenses. Total of all expenses incurred2007-12-31$32,714
Benefits paid (including direct rollovers)2007-12-31$30,402
Total plan assets at end of year2007-12-31$424,356
Total plan assets at beginning of year2007-12-31$408,093
Value of fidelity bond covering the plan2007-12-31$150,000
Total contributions received or receivable from participants2007-12-31$22,161
Expenses. Other expenses not covered elsewhere2007-12-31$358
Other income received2007-12-31$17,090
Net income (gross income less expenses)2007-12-31$16,263
Net plan assets at end of year (total assets less liabilities)2007-12-31$424,356
Net plan assets at beginning of year (total assets less liabilities)2007-12-31$408,093
Assets. Value of participant loans2007-12-31$49,335
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022007-12-31$37,138
Total contributions received or receivable from employer(s)2007-12-31$9,726
Value of corrective distributions2007-12-31$1,954

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