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ORR MOTORS OF WACO EMPLOYEE BENEFITS PLAN 401k Plan overview

Plan NameORR MOTORS OF WACO EMPLOYEE BENEFITS PLAN
Plan identification number 501

ORR MOTORS OF WACO EMPLOYEE BENEFITS PLAN Benefits

401k Plan TypeWelfare Benefit
Plan Features/Benefits
  • Health (other than dental or vision)
  • Life insurance
  • Dental
  • Vision
  • Temporary disability (accident and sickness)
  • Long-term disability cover
  • Other welfare benefit cover

401k Sponsoring company profile

ORR MOTORS OF WACO, INC. has sponsored the creation of one or more 401k plans.

Company Name:ORR MOTORS OF WACO, INC.
Employer identification number (EIN):752605318
NAIC Classification:441110
NAIC Description:New Car Dealers

Additional information about ORR MOTORS OF WACO, INC.

Jurisdiction of Incorporation: Texas Secretary of State
Incorporation Date: 1995-07-13
Company Identification Number: 0136211500
Legal Registered Office Address: 1601 W LOOP 340

WACO
United States of America (USA)
76712

More information about ORR MOTORS OF WACO, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan ORR MOTORS OF WACO EMPLOYEE BENEFITS PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
5012021-01-01
5012020-01-01

Plan Statistics for ORR MOTORS OF WACO EMPLOYEE BENEFITS PLAN

401k plan membership statisitcs for ORR MOTORS OF WACO EMPLOYEE BENEFITS PLAN

Measure Date Value
2021: ORR MOTORS OF WACO EMPLOYEE BENEFITS PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-0150
Total number of active participants reported on line 7a of the Form 55002021-01-0134
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-010
Total of all active and inactive participants2021-01-0134
2020: ORR MOTORS OF WACO EMPLOYEE BENEFITS PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-0129
Total number of active participants reported on line 7a of the Form 55002020-01-0150
Total of all active and inactive participants2020-01-0150

Financial Data on ORR MOTORS OF WACO EMPLOYEE BENEFITS PLAN

Measure Date Value
2021 : ORR MOTORS OF WACO EMPLOYEE BENEFITS PLAN 2021 401k financial data
Total plan liabilities at end of year2021-12-31$5,635
Total income from all sources2021-12-31$267,042
Expenses. Total of all expenses incurred2021-12-31$322,795
Benefits paid (including direct rollovers)2021-12-31$285,608
Total plan assets at end of year2021-12-31$0
Total plan assets at beginning of year2021-12-31$50,118
Value of fidelity bond covering the plan2021-12-31$100,000
Total contributions received or receivable from participants2021-12-31$158,175
Expenses. Other expenses not covered elsewhere2021-12-31$5,999
Net income (gross income less expenses)2021-12-31$-55,753
Net plan assets at end of year (total assets less liabilities)2021-12-31$-5,635
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$50,118
Total contributions received or receivable from employer(s)2021-12-31$108,867
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$31,188
2020 : ORR MOTORS OF WACO EMPLOYEE BENEFITS PLAN 2020 401k financial data
Total income from all sources2020-12-31$270,797
Expenses. Total of all expenses incurred2020-12-31$220,679
Benefits paid (including direct rollovers)2020-12-31$182,842
Total plan assets at end of year2020-12-31$50,118
Total plan assets at beginning of year2020-12-31$0
Value of fidelity bond covering the plan2020-12-31$100,000
Total contributions received or receivable from participants2020-12-31$185,124
Expenses. Other expenses not covered elsewhere2020-12-31$6,006
Net income (gross income less expenses)2020-12-31$50,118
Net plan assets at end of year (total assets less liabilities)2020-12-31$50,118
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$0
Total contributions received or receivable from employer(s)2020-12-31$85,673
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$31,831

Form 5500 Responses for ORR MOTORS OF WACO EMPLOYEE BENEFITS PLAN

2021: ORR MOTORS OF WACO EMPLOYEE BENEFITS PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Plan funding arrangement – InsuranceYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement – InsuranceYes
2021-01-01Plan benefit arrangement - TrustYes
2020: ORR MOTORS OF WACO EMPLOYEE BENEFITS PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01First time form 5500 has been submittedYes
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 – InsuranceYes
2020-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA (National Association of Insurance Commissioners NAIC id number: 64246 )
Policy contract number00566945
Policy instance 1
Insurance contract or identification number00566945
Number of Individuals Covered24
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $5,668
Total amount of fees paid to insurance companyUSD $235
Dental Insurance Welfare BenefitYes
Vision Insurance Welfare BenefitYes
Life Insurance Welfare BenefitYes
Temporary Disability Insurance Welfare BenefitYes
Long Term Disability Insurance Welfare BenefitYes
Other welfare benefits providedVOLUNTARY AD&D
Welfare Benefit Premiums Paid to CarrierUSD $28,501
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $4,671
Amount paid for insurance broker fees235
Insurance broker organization code?3
THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA (National Association of Insurance Commissioners NAIC id number: 64246 )
Policy contract number00566946
Policy instance 2
Insurance contract or identification number00566946
Number of Individuals Covered10
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $1,013
Total amount of fees paid to insurance companyUSD $62
Dental Insurance Welfare BenefitYes
Vision Insurance Welfare BenefitYes
Life Insurance Welfare BenefitYes
Temporary Disability Insurance Welfare BenefitYes
Long Term Disability Insurance Welfare BenefitYes
Other welfare benefits providedVOLUNTARY AD&D
Welfare Benefit Premiums Paid to CarrierUSD $6,533
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $803
Insurance broker organization code?3
Amount paid for insurance broker fees62
THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA (National Association of Insurance Commissioners NAIC id number: 64246 )
Policy contract number00566945
Policy instance 1
Insurance contract or identification number00566945
Number of Individuals Covered26
Insurance policy start date2020-01-01
Insurance policy end date2020-12-31
Total amount of commissions paid to insurance brokerUSD $5,150
Total amount of fees paid to insurance companyUSD $0
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 BenefitYes
Vision Insurance Welfare BenefitYes
Life Insurance Welfare BenefitYes
Temporary Disability Insurance Welfare BenefitYes
Long Term Disability Insurance Welfare BenefitYes
Unemployment Insurance Welfare BenefitNo
Other welfare benefits providedVOLUNTARY AD&D
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Welfare Benefit Premiums Paid to CarrierUSD $26,213
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $4,975
Insurance broker organization code?3
THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA (National Association of Insurance Commissioners NAIC id number: 64246 )
Policy contract number00566946
Policy instance 2
Insurance contract or identification number00566946
Number of Individuals Covered12
Insurance policy start date2020-01-01
Insurance policy end date2020-12-31
Total amount of commissions paid to insurance brokerUSD $1,129
Total amount of fees paid to insurance companyUSD $0
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 BenefitYes
Vision Insurance Welfare BenefitYes
Life Insurance Welfare BenefitYes
Temporary Disability Insurance Welfare BenefitYes
Long Term Disability Insurance Welfare BenefitYes
Unemployment Insurance Welfare BenefitNo
Other welfare benefits providedVOLUNTARY AD&D
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Welfare Benefit Premiums Paid to CarrierUSD $6,905
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $1,088
Insurance broker organization code?3

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