401k Plan data: KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN plan

KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN 401k Plan overview

Plan Name	KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN
Plan identification number	002

KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN Benefits

401k Plan Type

Defined 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

KARNES ELECTRIC COOPERATIVE, INC. has sponsored the creation of one or more 401k plans.

Company Name: KARNES ELECTRIC COOPERATIVE, INC.

Employer identification number (EIN): 740720615

NAIC Classification: 221100

Additional information about KARNES ELECTRIC COOPERATIVE, INC.

Jurisdiction of Incorporation: Texas Secretary of State

Incorporation Date: 1938-10-24

Company Identification Number: 0007414501

Legal Registered Office Address: PO BOX 7

KARNES CITY
United States of America (USA)
78118

More information about KARNES ELECTRIC COOPERATIVE, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
002 2023-01-01 ERIC HALFMANN 2024-06-24
002 2022-01-01 BRADLEY BIERSTEDT 2023-05-19
002 2021-01-01 BRADLEY BIERSTEDT 2022-05-11
002 2020-01-01 BRADLEY BIERSTEDT 2021-04-20
002 2018-01-01 BRADLEY BIERSTEDT 2019-05-16
002 2017-01-01 BRADLEY BIERSTEDT 2018-05-16
002 2016-01-01 BRADLEY BIERSTEDT 2017-07-07
002 2015-01-01 BRADLEY BIERSTEDT 2016-04-26
002 2014-01-01 LEROY SKLOSS 2015-06-08
002 2013-01-01 LEROY SKLOSS 2014-06-26
002 2012-01-01 LEROY SKLOSS 2013-07-19
002 2011-01-01 LEROY SKLOSS 2012-07-23
002 2010-01-01 LEROY SKLOSS
002 2009-01-01 LEROY SKLOSS

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed
002	2023-01-01	ERIC HALFMANN	2024-06-24
002	2022-01-01	BRADLEY BIERSTEDT	2023-05-19
002	2021-01-01	BRADLEY BIERSTEDT	2022-05-11
002	2020-01-01	BRADLEY BIERSTEDT	2021-04-20
002	2018-01-01	BRADLEY BIERSTEDT	2019-05-16
002	2017-01-01	BRADLEY BIERSTEDT	2018-05-16
002	2016-01-01	BRADLEY BIERSTEDT	2017-07-07
002	2015-01-01	BRADLEY BIERSTEDT	2016-04-26
002	2014-01-01	LEROY SKLOSS	2015-06-08
002	2013-01-01	LEROY SKLOSS	2014-06-26
002	2012-01-01	LEROY SKLOSS	2013-07-19
002	2011-01-01	LEROY SKLOSS	2012-07-23
002	2010-01-01	LEROY SKLOSS
002	2009-01-01	LEROY SKLOSS

Plan Statistics for KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN

401k plan membership statisitcs for KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN

Measure Date Value
2025: KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN 2025 401k membership
Total number of particpants at beginning of year 2025-06-30 94
Total number of particpants at end of year 2025-06-30 0
Number of Participants With Account Balances 2025-06-30 0
2024: KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN 2024 401k membership
Total number of particpants at beginning of year 2024-06-24 88
Total number of particpants at end of year 2024-06-24 90
Number of Participants With Account Balances 2024-06-24 90
2010: KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN 2010 401k membership
Total participants, beginning-of-year 2010-01-01 58
Total number of active participants reported on line 7a of the Form 5500 2010-01-01 54
Number of retired or separated participants receiving benefits 2010-01-01 0
Number of other retired or separated participants entitled to future benefits 2010-01-01 1
Total of all active and inactive participants 2010-01-01 55
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2010-01-01 1
Total participants 2010-01-01 56
Number of participants with account balances 2010-01-01 54
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2010-01-01 0
2009: KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN 2009 401k membership
Total participants, beginning-of-year 2009-01-01 65
Total number of active participants reported on line 7a of the Form 5500 2009-01-01 56
Number of retired or separated participants receiving benefits 2009-01-01 0
Number of other retired or separated participants entitled to future benefits 2009-01-01 0
Total of all active and inactive participants 2009-01-01 56
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2009-01-01 0
Total participants 2009-01-01 56
Number of participants with account balances 2009-01-01 55
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2009-01-01 0

Measure	Date	Value
2025: KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN 2025 401k membership
Total number of particpants at beginning of year	2025-06-30	94
Total number of particpants at end of year	2025-06-30	0
Number of Participants With Account Balances	2025-06-30	0
2024: KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN 2024 401k membership
Total number of particpants at beginning of year	2024-06-24	88
Total number of particpants at end of year	2024-06-24	90
Number of Participants With Account Balances	2024-06-24	90
2010: KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN 2010 401k membership
Total participants, beginning-of-year	2010-01-01	58
Total number of active participants reported on line 7a of the Form 5500	2010-01-01	54
Number of retired or separated participants receiving benefits	2010-01-01	0
Number of other retired or separated participants entitled to future benefits	2010-01-01	1
Total of all active and inactive participants	2010-01-01	55
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2010-01-01	1
Total participants	2010-01-01	56
Number of participants with account balances	2010-01-01	54
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2010-01-01	0
2009: KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN 2009 401k membership
Total participants, beginning-of-year	2009-01-01	65
Total number of active participants reported on line 7a of the Form 5500	2009-01-01	56
Number of retired or separated participants receiving benefits	2009-01-01	0
Number of other retired or separated participants entitled to future benefits	2009-01-01	0
Total of all active and inactive participants	2009-01-01	56
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2009-01-01	0
Total participants	2009-01-01	56
Number of participants with account balances	2009-01-01	55
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2009-01-01	0

Financial Data on KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN

Measure	Date	Value
2025 : KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN 2025 401k financial data
Total transfers to/from plan in this plan year	2025-06-30	-8770278
Total liabilities as of the end of the plan year	2025-06-30	0
Total liabilities as of the beginning of the plan year	2025-06-30	0
Total expenses incurred by plan in this plan year	2025-06-30	1332225
Net assets as of the end of the plan year	2025-06-30	0
Total assets as of the beginning of the plan year	2025-06-30	8226759
Value of plan covered by a fidelity bond	2025-06-30	1000000
Participant contributions to plan in this plan year	2025-06-30	714977
Value of participant loans at end of plan year	2025-06-30	0
Other expenses paid from plan in this plan year	2025-06-30	30139
Other contributions to plan in this plan year	2025-06-30	0
Other income to plan in this plan year	2025-06-30	963488
Plan net income in this plan year	2025-06-30	543519
Net assets as of the end of the plan year	2025-06-30	0
Net assets as of the beginning of the plan year	2025-06-30	8226759
Employer contributions to plan in this plan year	2025-06-30	197279
Fees paid to broker by Benefit Provider	2025-06-30	4397
Expensese paid to adminstrative service provicers from plan in this plan year	2025-06-30	0
2024 : KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN 2024 401k financial data
Total transfers to/from plan in this plan year	2024-06-24	0
Total liabilities as of the end of the plan year	2024-06-24	0
Total liabilities as of the beginning of the plan year	2024-06-24	0
Total expenses incurred by plan in this plan year	2024-06-24	39178
Net assets as of the end of the plan year	2024-06-24	8226759
Total assets as of the beginning of the plan year	2024-06-24	6276525
Value of plan covered by a fidelity bond	2024-06-24	500000
Participant contributions to plan in this plan year	2024-06-24	721360
Value of participant loans at end of plan year	2024-06-24	98616
Other expenses paid from plan in this plan year	2024-06-24	23294
Other contributions to plan in this plan year	2024-06-24	2591
Other income to plan in this plan year	2024-06-24	1075752
Plan net income in this plan year	2024-06-24	1950234
Net assets as of the end of the plan year	2024-06-24	8226759
Net assets as of the beginning of the plan year	2024-06-24	6276525
Employer contributions to plan in this plan year	2024-06-24	189709
Fees paid to broker by Benefit Provider	2024-06-24	3694
Expensese paid to adminstrative service provicers from plan in this plan year	2024-06-24	0
2010 : KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN 2010 401k financial data
Transfers to/from the plan	2010-12-31	$0
Total plan liabilities at end of year	2010-12-31	$0
Total plan liabilities at beginning of year	2010-12-31	$0
Total income from all sources	2010-12-31	$420,675
Expenses. Total of all expenses incurred	2010-12-31	$256,926
Benefits paid (including direct rollovers)	2010-12-31	$256,926
Total plan assets at end of year	2010-12-31	$2,054,126
Total plan assets at beginning of year	2010-12-31	$1,890,377
Value of fidelity bond covering the plan	2010-12-31	$1,000,000
Total contributions received or receivable from participants	2010-12-31	$186,827
Expenses. Other expenses not covered elsewhere	2010-12-31	$0
Contributions received from other sources (not participants or employers)	2010-12-31	$0
Other income received	2010-12-31	$233,848
Noncash contributions received	2010-12-31	$0
Net income (gross income less expenses)	2010-12-31	$163,749
Net plan assets at end of year (total assets less liabilities)	2010-12-31	$2,054,126
Net plan assets at beginning of year (total assets less liabilities)	2010-12-31	$1,890,377
Assets. Value of participant loans	2010-12-31	$47,346
Total contributions received or receivable from employer(s)	2010-12-31	$0
Value of certain deemed distributions of participant loans	2010-12-31	$0
Value of corrective distributions	2010-12-31	$0
Expenses. Administrative service providers (salaries,fees and commissions)	2010-12-31	$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2010-12-31	$0
2009 : KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2009-12-31	$0

Form 5500 Responses for KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN

2010: KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN 2010 form 5500 responses
2010-01-01	Type of plan entity	Single employer plan
2010-01-01	Submission has been amended	No
2010-01-01	This submission is the final filing	No
2010-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2010-01-01	Plan is a collectively bargained plan	No
2010-01-01	Plan funding arrangement – Insurance	Yes
2010-01-01	Plan funding arrangement – Trust	Yes
2010-01-01	Plan benefit arrangement – Insurance	Yes
2010-01-01	Plan benefit arrangement - Trust	Yes
2009: KARNES ELECTRIC COOPERATIVE, INC. 401(K) RETIREMENT PLAN 2009 form 5500 responses
2009-01-01	Type of plan entity	Single employer plan
2009-01-01	Submission has been amended	No
2009-01-01	This submission is the final filing	No
2009-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2009-01-01	Plan is a collectively bargained plan	No
2009-01-01	Plan funding arrangement – Insurance	Yes
2009-01-01	Plan funding arrangement – Trust	Yes
2009-01-01	Plan benefit arrangement – Insurance	Yes
2009-01-01	Plan benefit arrangement - Trust	Yes

Insurance Providers Used on plan

MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65935 )
Policy contract number	RM 84725-1
Policy instance	1

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Company Name:	KARNES ELECTRIC COOPERATIVE, INC.
Employer identification number (EIN):	740720615
NAIC Classification:	221100

Jurisdiction of Incorporation:	Texas Secretary of State
Incorporation Date:	1938-10-24
Company Identification Number:	0007414501
Legal Registered Office Address:	PO BOX 7 KARNES CITY United States of America (USA) 78118