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BUDD ELECTRIC RETIREMENT PLAN 401k Plan overview

Plan NameBUDD ELECTRIC RETIREMENT PLAN
Plan identification number 001

BUDD ELECTRIC RETIREMENT PLAN 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.

401k Sponsoring company profile

BUDD ELECTRIC has sponsored the creation of one or more 401k plans.

Company Name:BUDD ELECTRIC
Employer identification number (EIN):741708855
NAIC Classification:238210
NAIC Description:Electrical Contractors and Other Wiring Installation Contractors

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BUDD ELECTRIC RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01TYLER BUDD2024-07-12
0012022-01-01
0012021-01-01
0012020-01-01
0012019-01-01
0012018-01-01
0012017-01-01
0012016-01-01
0012015-01-01TYLER BUDD
0012014-01-01TYLER BUDD TYLER BUDD2015-09-10
0012013-01-01KYLE S. BUDD JR.2014-03-20
0012012-01-01KYLE S. BUDD JR.2013-03-18
0012011-01-01KYLE S BUDD2012-08-30
0012010-01-01KYLE S. BUDD JR.2011-09-01

Financial Data on BUDD ELECTRIC RETIREMENT PLAN

Measure Date Value
2025 : BUDD ELECTRIC RETIREMENT PLAN 2025 401k financial data
Total expenses incurred by plan in this plan year2025-07-1738200
Net assets as of the end of the plan year2025-07-172236251
Total assets as of the beginning of the plan year2025-07-171904106
Value of plan covered by a fidelity bond2025-07-17237000
Participant contributions to plan in this plan year2025-07-1796138
Value of participant loans at end of plan year2025-07-174035
Other income to plan in this plan year2025-07-17248654
Plan net income in this plan year2025-07-17332145
Net assets as of the end of the plan year2025-07-172236251
Net assets as of the beginning of the plan year2025-07-171904106
Employer contributions to plan in this plan year2025-07-1725553
Expensese paid to adminstrative service provicers from plan in this plan year2025-07-17200
2024 : BUDD ELECTRIC RETIREMENT PLAN 2024 401k financial data
Total expenses incurred by plan in this plan year2024-07-12838839
Net assets as of the end of the plan year2024-07-121904106
Total assets as of the beginning of the plan year2024-07-122363483
Value of plan covered by a fidelity bond2024-07-12237000
Participant contributions to plan in this plan year2024-07-1294557
Value of participant loans at end of plan year2024-07-129885
Other income to plan in this plan year2024-07-12259572
Plan net income in this plan year2024-07-12-459377
Net assets as of the end of the plan year2024-07-121904106
Net assets as of the beginning of the plan year2024-07-122363483
Employer contributions to plan in this plan year2024-07-1225333
Expensese paid to adminstrative service provicers from plan in this plan year2024-07-121113
2015 : BUDD ELECTRIC RETIREMENT PLAN 2015 401k financial data
Total income from all sources2015-12-31$37,612
Expenses. Total of all expenses incurred2015-12-31$66,724
Benefits paid (including direct rollovers)2015-12-31$66,474
Total plan assets at end of year2015-12-31$1,070,360
Total plan assets at beginning of year2015-12-31$1,099,472
Value of fidelity bond covering the plan2015-12-31$85,000
Total contributions received or receivable from participants2015-12-31$62,563
Contributions received from other sources (not participants or employers)2015-12-31$1,134
Other income received2015-12-31$-44,363
Net income (gross income less expenses)2015-12-31$-29,112
Net plan assets at end of year (total assets less liabilities)2015-12-31$1,070,360
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$1,099,472
Assets. Value of participant loans2015-12-31$930
Total contributions received or receivable from employer(s)2015-12-31$18,278
Expenses. Administrative service providers (salaries,fees and commissions)2015-12-31$250
2014 : BUDD ELECTRIC RETIREMENT PLAN 2014 401k financial data
Total income from all sources2014-12-31$149,263
Expenses. Total of all expenses incurred2014-12-31$61,715
Benefits paid (including direct rollovers)2014-12-31$60,098
Total plan assets at end of year2014-12-31$1,099,472
Total plan assets at beginning of year2014-12-31$1,011,924
Value of fidelity bond covering the plan2014-12-31$85,000
Total contributions received or receivable from participants2014-12-31$23,954
Expenses. Other expenses not covered elsewhere2014-12-31$1,617
Other income received2014-12-31$62,703
Net income (gross income less expenses)2014-12-31$87,548
Net plan assets at end of year (total assets less liabilities)2014-12-31$1,099,472
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$1,011,924
Assets. Value of participant loans2014-12-31$15,295
Total contributions received or receivable from employer(s)2014-12-31$62,606

Form 5500 Responses for BUDD ELECTRIC RETIREMENT PLAN

2015: BUDD ELECTRIC RETIREMENT PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingNo
2015-01-01This return/report is a short plan year return/report (less than 12 months)No
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – InsuranceYes
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement – InsuranceYes
2015-01-01Plan benefit arrangement - TrustYes
2014: BUDD ELECTRIC RETIREMENT PLAN 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Submission has been amendedNo
2014-01-01This submission is the final filingNo
2014-01-01This return/report is a short plan year return/report (less than 12 months)No
2014-01-01Plan is a collectively bargained planNo
2014-01-01Plan funding arrangement – InsuranceYes
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement – InsuranceYes
2014-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )
Policy contract numberZH9775
Policy instance 1
VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )
Policy contract numberZH9775
Policy instance 1

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