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REC SOLAR, INC. RETIREMENT PLAN 401k Plan overview

Plan NameREC SOLAR, INC. RETIREMENT PLAN
Plan identification number 002

REC SOLAR, INC. 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.
  • 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

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

Company Name:REC SOLAR, INC.
Employer identification number (EIN):770471407
NAIC Classification:238210
NAIC Description:Electrical Contractors and Other Wiring Installation Contractors

Form 5500 Filing Information

Submission information for form 5500 for 401k plan REC SOLAR, INC. RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022015-01-01
0022014-01-01PHIL TISUE
0022013-01-01JEANINE DEITZ
0022011-01-01HELEN WALLACE2012-07-30

Plan Statistics for REC SOLAR, INC. RETIREMENT PLAN

401k plan membership statisitcs for REC SOLAR, INC. RETIREMENT PLAN

Measure Date Value
2015: REC SOLAR, INC. RETIREMENT PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-01163
Total number of active participants reported on line 7a of the Form 55002015-01-01172
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-010
Total of all active and inactive participants2015-01-01172
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-01172
Number of participants with account balances2015-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-010
2014: REC SOLAR, INC. RETIREMENT PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-01139
Total number of active participants reported on line 7a of the Form 55002014-01-01163
Number of retired or separated participants receiving benefits2014-01-010
Number of other retired or separated participants entitled to future benefits2014-01-010
Total of all active and inactive participants2014-01-01163
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-01163
Number of participants with account balances2014-01-01163
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-010
2013: REC SOLAR, INC. RETIREMENT PLAN 2013 401k membership
Total participants, beginning-of-year2013-01-01163
Total number of active participants reported on line 7a of the Form 55002013-01-01139
Number of retired or separated participants receiving benefits2013-01-010
Number of other retired or separated participants entitled to future benefits2013-01-010
Total of all active and inactive participants2013-01-01139
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-010
Total participants2013-01-01139
Number of participants with account balances2013-01-01139
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-010

Financial Data on REC SOLAR, INC. RETIREMENT PLAN

Measure Date Value
2015 : REC SOLAR, INC. RETIREMENT PLAN 2015 401k financial data
Total unrealized appreciation/depreciation of assets2015-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-12-31$0
Total income from all sources (including contributions)2015-12-31$467,567
Total loss/gain on sale of assets2015-12-31$0
Total of all expenses incurred2015-12-31$781,190
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2015-12-31$763,620
Total contributions o plan (from employers,participants, others, non cash contrinutions)2015-12-31$480,560
Value of total assets at end of year2015-12-31$1,259,825
Value of total assets at beginning of year2015-12-31$1,573,448
Total of administrative expenses incurred including professional, contract, advisory and management fees2015-12-31$17,570
Total interest from all sources2015-12-31$2,724
Total dividends received (eg from common stock, registered investment company shares)2015-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2015-12-31No
Was this plan covered by a fidelity bond2015-12-31Yes
Value of fidelity bond cover2015-12-31$500,000
If this is an individual account plan, was there a blackout period2015-12-31No
Were there any nonexempt tranactions with any party-in-interest2015-12-31No
Participant contributions at end of year2015-12-31$66,505
Participant contributions at beginning of year2015-12-31$84,551
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-31No
Value of net income/loss2015-12-31$-313,623
Value of net assets at end of year (total assets less liabilities)2015-12-31$1,259,825
Value of net assets at beginning of year (total assets less liabilities)2015-12-31$1,573,448
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2015-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2015-12-31No
Were any leases to which the plan was party in default or uncollectible2015-12-31No
Value of interest in pooled separate accounts at end of year2015-12-31$1,164,346
Value of interest in pooled separate accounts at beginning of year2015-12-31$1,447,523
Interest on participant loans2015-12-31$2,328
Interest earned on other investments2015-12-31$396
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2015-12-31$24,696
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2015-12-31$26,117
Net investment gain/loss from pooled separate accounts2015-12-31$-15,717
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2015-12-31No
Was there a failure to transmit to the plan any participant contributions2015-12-31No
Has the plan failed to provide any benefit when due under the plan2015-12-31No
Contributions received in cash from employer2015-12-31$480,560
Employer contributions (assets) at end of year2015-12-31$4,278
Employer contributions (assets) at beginning of year2015-12-31$15,257
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2015-12-31$763,620
Contract administrator fees2015-12-31$17,570
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32015-12-31No
Did the plan have assets held for investment2015-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2015-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2015-12-31Yes
Opinion of an independent qualified public accountant for this plan2015-12-31Disclaimer
Accountancy firm name2015-12-31COULTER & JUSTUS
Accountancy firm EIN2015-12-31621532536
2014 : REC SOLAR, INC. RETIREMENT PLAN 2014 401k financial data
Total unrealized appreciation/depreciation of assets2014-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-12-31$0
Total income from all sources (including contributions)2014-12-31$788,510
Total loss/gain on sale of assets2014-12-31$0
Total of all expenses incurred2014-12-31$770,951
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2014-12-31$752,124
Total contributions o plan (from employers,participants, others, non cash contrinutions)2014-12-31$699,022
Value of total assets at end of year2014-12-31$1,573,448
Value of total assets at beginning of year2014-12-31$1,555,889
Total of administrative expenses incurred including professional, contract, advisory and management fees2014-12-31$18,827
Total interest from all sources2014-12-31$2,779
Total dividends received (eg from common stock, registered investment company shares)2014-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2014-12-31No
Was this plan covered by a fidelity bond2014-12-31Yes
Value of fidelity bond cover2014-12-31$250,000
If this is an individual account plan, was there a blackout period2014-12-31No
Were there any nonexempt tranactions with any party-in-interest2014-12-31No
Participant contributions at end of year2014-12-31$84,551
Participant contributions at beginning of year2014-12-31$181,016
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Value of net income/loss2014-12-31$17,559
Value of net assets at end of year (total assets less liabilities)2014-12-31$1,573,448
Value of net assets at beginning of year (total assets less liabilities)2014-12-31$1,555,889
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2014-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2014-12-31No
Were any leases to which the plan was party in default or uncollectible2014-12-31No
Value of interest in pooled separate accounts at end of year2014-12-31$1,447,523
Value of interest in pooled separate accounts at beginning of year2014-12-31$1,334,240
Interest on participant loans2014-12-31$2,341
Interest earned on other investments2014-12-31$438
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2014-12-31$26,117
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2014-12-31$29,424
Net investment gain/loss from pooled separate accounts2014-12-31$86,709
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2014-12-31No
Was there a failure to transmit to the plan any participant contributions2014-12-31No
Has the plan failed to provide any benefit when due under the plan2014-12-31No
Contributions received in cash from employer2014-12-31$699,022
Employer contributions (assets) at end of year2014-12-31$15,257
Employer contributions (assets) at beginning of year2014-12-31$11,209
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2014-12-31$752,124
Contract administrator fees2014-12-31$18,827
Did the plan have assets held for investment2014-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2014-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2014-12-31Yes
Opinion of an independent qualified public accountant for this plan2014-12-31Disclaimer
Accountancy firm name2014-12-31COULTER & JUSTUS
Accountancy firm EIN2014-12-31621532536
2013 : REC SOLAR, INC. RETIREMENT PLAN 2013 401k financial data
Total unrealized appreciation/depreciation of assets2013-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-31$0
Total income from all sources (including contributions)2013-12-31$486,217
Total loss/gain on sale of assets2013-12-31$0
Total of all expenses incurred2013-12-31$706,661
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2013-12-31$695,549
Total contributions o plan (from employers,participants, others, non cash contrinutions)2013-12-31$288,185
Value of total assets at end of year2013-12-31$1,555,889
Value of total assets at beginning of year2013-12-31$1,776,333
Total of administrative expenses incurred including professional, contract, advisory and management fees2013-12-31$11,112
Total interest from all sources2013-12-31$3,105
Total dividends received (eg from common stock, registered investment company shares)2013-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2013-12-31No
Was this plan covered by a fidelity bond2013-12-31Yes
Value of fidelity bond cover2013-12-31$250,000
If this is an individual account plan, was there a blackout period2013-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2013-12-31$0
Were there any nonexempt tranactions with any party-in-interest2013-12-31No
Participant contributions at end of year2013-12-31$181,016
Participant contributions at beginning of year2013-12-31$114,674
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Value of net income/loss2013-12-31$-220,444
Value of net assets at end of year (total assets less liabilities)2013-12-31$1,555,889
Value of net assets at beginning of year (total assets less liabilities)2013-12-31$1,776,333
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2013-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2013-12-31No
Were any leases to which the plan was party in default or uncollectible2013-12-31No
Value of interest in pooled separate accounts at end of year2013-12-31$1,334,240
Value of interest in pooled separate accounts at beginning of year2013-12-31$1,606,231
Interest on participant loans2013-12-31$2,486
Interest earned on other investments2013-12-31$619
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2013-12-31$29,424
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2013-12-31$55,428
Net investment gain/loss from pooled separate accounts2013-12-31$194,927
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2013-12-31No
Was there a failure to transmit to the plan any participant contributions2013-12-31No
Has the plan failed to provide any benefit when due under the plan2013-12-31No
Contributions received in cash from employer2013-12-31$288,185
Employer contributions (assets) at end of year2013-12-31$11,209
Employer contributions (assets) at beginning of year2013-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2013-12-31$695,549
Contract administrator fees2013-12-31$11,112
Did the plan have assets held for investment2013-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2013-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2013-12-31No
Opinion of an independent qualified public accountant for this plan2013-12-31Qualified
Accountancy firm name2013-12-31COULTER & JUSTUS
Accountancy firm EIN2013-12-31621532536
2012 : REC SOLAR, INC. RETIREMENT PLAN 2012 401k financial data
Total unrealized appreciation/depreciation of assets2012-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$0
Total income from all sources (including contributions)2012-12-31$1,144,757
Total loss/gain on sale of assets2012-12-31$0
Total of all expenses incurred2012-12-31$197,223
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2012-12-31$194,342
Total contributions o plan (from employers,participants, others, non cash contrinutions)2012-12-31$1,036,238
Value of total assets at end of year2012-12-31$1,776,325
Value of total assets at beginning of year2012-12-31$828,791
Total of administrative expenses incurred including professional, contract, advisory and management fees2012-12-31$2,881
Total interest from all sources2012-12-31$2,881
Total dividends received (eg from common stock, registered investment company shares)2012-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2012-12-31No
Was this plan covered by a fidelity bond2012-12-31Yes
Value of fidelity bond cover2012-12-31$250,000
If this is an individual account plan, was there a blackout period2012-12-31Yes
Were there any nonexempt tranactions with any party-in-interest2012-12-31No
Contributions received from participants2012-12-31$1,036,238
Participant contributions at end of year2012-12-31$114,665
Participant contributions at beginning of year2012-12-31$20,769
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Value of net income/loss2012-12-31$947,534
Value of net assets at end of year (total assets less liabilities)2012-12-31$1,776,325
Value of net assets at beginning of year (total assets less liabilities)2012-12-31$828,791
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2012-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2012-12-31No
Were any leases to which the plan was party in default or uncollectible2012-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2012-12-31$1,661,660
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2012-12-31$808,022
Interest on participant loans2012-12-31$3,119
Interest earned on other investments2012-12-31$-238
Net investment gain/loss from registered investment companies (e.g. mutual funds)2012-12-31$105,638
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2012-12-31No
Was there a failure to transmit to the plan any participant contributions2012-12-31No
Has the plan failed to provide any benefit when due under the plan2012-12-31No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2012-12-31$194,342
Contract administrator fees2012-12-31$2,881
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32012-12-31Yes
Did the plan have assets held for investment2012-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2012-12-31No
Accountancy firm name2012-12-31COULTER & JUSTUS
Accountancy firm EIN2012-12-31621532536

Form 5500 Responses for REC SOLAR, INC. RETIREMENT PLAN

2015: REC SOLAR, INC. 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: REC SOLAR, INC. 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
2013: REC SOLAR, INC. RETIREMENT PLAN 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Submission has been amendedYes
2013-01-01This submission is the final filingNo
2013-01-01This return/report is a short plan year return/report (less than 12 months)No
2013-01-01Plan is a collectively bargained planNo
2013-01-01Plan funding arrangement – InsuranceYes
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement – InsuranceYes
2013-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

TRANSAMERICA LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 86231 )
Policy contract number803941
Policy instance 1
Insurance contract or identification number803941
Number of Individuals Covered163
Insurance policy start date2014-01-01
Insurance policy end date2014-12-31
Total amount of commissions paid to insurance brokerUSD $5,701
Total amount of fees paid to insurance companyUSD $1,445
Are there contracts with allocated funds for individual policies?No
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?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
TRANSAMERICA LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 86231 )
Policy contract number803941
Policy instance 1
Insurance contract or identification number803941
Number of Individuals Covered199
Insurance policy start date2013-01-01
Insurance policy end date2013-12-31
Total amount of commissions paid to insurance brokerUSD $5,062
Total amount of fees paid to insurance companyUSD $934
Are there contracts with allocated funds for individual policies?No
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 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

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