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BASSCO SERVICES, INC. 401(K) PLAN 401k Plan overview

Plan NameBASSCO SERVICES, INC. 401(K) PLAN
Plan identification number 001

BASSCO SERVICES, INC. 401(K) PLAN 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
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

BASSCO SERVICES, INCORPORATED has sponsored the creation of one or more 401k plans.

Company Name:BASSCO SERVICES, INCORPORATED
Employer identification number (EIN):752179841
NAIC Classification:423800

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BASSCO SERVICES, INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012021-07-01
0012020-07-01
0012019-07-01
0012018-07-01
0012017-07-01

Plan Statistics for BASSCO SERVICES, INC. 401(K) PLAN

401k plan membership statisitcs for BASSCO SERVICES, INC. 401(K) PLAN

Measure Date Value
2022: BASSCO SERVICES, INC. 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-0144
Total number of active participants reported on line 7a of the Form 55002022-01-0135
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-016
Total of all active and inactive participants2022-01-0141
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-0141
Number of participants with account balances2022-01-0131
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: BASSCO SERVICES, INC. 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year2021-07-0145
Total number of active participants reported on line 7a of the Form 55002021-07-0134
Number of retired or separated participants receiving benefits2021-07-010
Number of other retired or separated participants entitled to future benefits2021-07-0110
Total of all active and inactive participants2021-07-0144
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-07-010
Total participants2021-07-0144
Number of participants with account balances2021-07-0136
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-07-010

Financial Data on BASSCO SERVICES, INC. 401(K) PLAN

Measure Date Value
2022 : BASSCO SERVICES, INC. 401(K) PLAN 2022 401k financial data
Transfers to/from the plan2022-12-31$0
Total plan liabilities at end of year2022-12-31$0
Total plan liabilities at beginning of year2022-12-31$0
Total income from all sources2022-12-31$-105,207
Expenses. Total of all expenses incurred2022-12-31$150,122
Benefits paid (including direct rollovers)2022-12-31$130,904
Total plan assets at end of year2022-12-31$1,466,182
Total plan assets at beginning of year2022-12-31$1,721,511
Value of fidelity bond covering the plan2022-12-31$175,000
Total contributions received or receivable from participants2022-12-31$126,477
Expenses. Other expenses not covered elsewhere2022-12-31$0
Contributions received from other sources (not participants or employers)2022-12-31$0
Other income received2022-12-31$-315,258
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$-255,329
Net plan assets at end of year (total assets less liabilities)2022-12-31$1,466,182
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$1,721,511
Assets. Value of participant loans2022-12-31$55,915
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022022-12-31$0
Total contributions received or receivable from employer(s)2022-12-31$83,574
Value of certain deemed distributions of participant loans2022-12-31$686
Value of corrective distributions2022-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$18,532
2021 : BASSCO SERVICES, INC. 401(K) PLAN 2021 401k financial data
Transfers to/from the plan2021-12-31$0
Total plan liabilities at end of year2021-12-31$0
Total plan liabilities at beginning of year2021-12-31$0
Total income from all sources2021-12-31$104,264
Expenses. Total of all expenses incurred2021-12-31$7,347
Benefits paid (including direct rollovers)2021-12-31$6,785
Total plan assets at end of year2021-12-31$1,721,511
Total plan assets at beginning of year2021-12-31$1,624,594
Total contributions received or receivable from participants2021-12-31$58,934
Expenses. Other expenses not covered elsewhere2021-12-31$0
Contributions received from other sources (not participants or employers)2021-12-31$0
Other income received2021-12-31$7,259
Noncash contributions received2021-12-31$0
Net income (gross income less expenses)2021-12-31$96,917
Net plan assets at end of year (total assets less liabilities)2021-12-31$1,721,511
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$1,624,594
Assets. Value of participant loans2021-12-31$55,242
Total contributions received or receivable from employer(s)2021-12-31$38,071
Value of certain deemed distributions of participant loans2021-12-31$0
Value of corrective distributions2021-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$562

Form 5500 Responses for BASSCO SERVICES, INC. 401(K) PLAN

2022: BASSCO SERVICES, INC. 401(K) PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: BASSCO SERVICES, INC. 401(K) PLAN 2021 form 5500 responses
2021-07-01Type of plan entitySingle employer plan
2021-07-01Submission has been amendedNo
2021-07-01This submission is the final filingNo
2021-07-01This return/report is a short plan year return/report (less than 12 months)Yes
2021-07-01Plan is a collectively bargained planNo
2021-07-01Plan funding arrangement – InsuranceYes
2021-07-01Plan funding arrangement – TrustYes
2021-07-01Plan benefit arrangement – InsuranceYes
2021-07-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

AMERICAN UNITED LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 60895 )
Policy contract numberG38673
Policy instance 1
Insurance contract or identification numberG38673
Number of Individuals Covered0
Insurance policy start date2021-07-01
Insurance policy end date2021-10-04
Are there contracts with allocated funds for individual policies?0
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?Yes
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 $998
Insurance broker organization code?3

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