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BEST ELECTRIC, AIR CONDITIONING & PLUMBING, LLC 401(K) PLAN 401k Plan overview

Plan NameBEST ELECTRIC, AIR CONDITIONING & PLUMBING, LLC 401(K) PLAN
Plan identification number 001

BEST ELECTRIC, AIR CONDITIONING & PLUMBING, LLC 401(K) 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

BEST ELECTRIC, AIR CONDITIONING has sponsored the creation of one or more 401k plans.

Company Name:BEST ELECTRIC, AIR CONDITIONING
Employer identification number (EIN):812387774
NAIC Classification:238220
NAIC Description:Plumbing, Heating, and Air-Conditioning Contractors

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BEST ELECTRIC, AIR CONDITIONING & PLUMBING, LLC 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012021-01-01GADDY NAVARRO2022-05-25
0012020-01-01
0012020-01-01
0012019-01-01CHADD HODGES2020-09-29 CHADD HODGES2020-09-29
0012018-01-01CHADD HODGES2019-06-15 CHADD HODGES2019-06-15
0012017-01-01
0012016-01-01CHADD HODGES2017-05-25

Plan Statistics for BEST ELECTRIC, AIR CONDITIONING & PLUMBING, LLC 401(K) PLAN

401k plan membership statisitcs for BEST ELECTRIC, AIR CONDITIONING & PLUMBING, LLC 401(K) PLAN

Measure Date Value
2020: BEST ELECTRIC, AIR CONDITIONING & PLUMBING, LLC 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-01252
Total number of active participants reported on line 7a of the Form 55002020-01-010
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-010
Total of all active and inactive participants2020-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-010
Number of participants with account balances2020-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: BEST ELECTRIC, AIR CONDITIONING & PLUMBING, LLC 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-01208
Total number of active participants reported on line 7a of the Form 55002019-01-01212
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-0121
Total of all active and inactive participants2019-01-01233
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-01233
Number of participants with account balances2019-01-0197
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: BEST ELECTRIC, AIR CONDITIONING & PLUMBING, LLC 401(K) PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-01153
Total number of active participants reported on line 7a of the Form 55002018-01-01183
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-0113
Total of all active and inactive participants2018-01-01196
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-01196
Number of participants with account balances2018-01-0174
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010

Financial Data on BEST ELECTRIC, AIR CONDITIONING & PLUMBING, LLC 401(K) PLAN

Measure Date Value
2020 : BEST ELECTRIC, AIR CONDITIONING & PLUMBING, LLC 401(K) PLAN 2020 401k financial data
Total unrealized appreciation/depreciation of assets2020-12-31$0
Total transfer of assets from this plan2020-12-31$2,226,070
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$272
Total income from all sources (including contributions)2020-12-31$970,384
Total loss/gain on sale of assets2020-12-31$0
Total of all expenses incurred2020-12-31$467,302
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-12-31$457,564
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-12-31$657,202
Value of total assets at end of year2020-12-31$139
Value of total assets at beginning of year2020-12-31$1,723,399
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-12-31$9,738
Total interest from all sources2020-12-31$4,365
Total dividends received (eg from common stock, registered investment company shares)2020-12-31$37,524
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2020-12-31$37,524
Was this plan covered by a fidelity bond2020-12-31Yes
Value of fidelity bond cover2020-12-31$173,000
If this is an individual account plan, was there a blackout period2020-12-31Yes
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
Were there any nonexempt tranactions with any party-in-interest2020-12-31No
Contributions received from participants2020-12-31$404,022
Participant contributions at beginning of year2020-12-31$151,239
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2020-12-31$272
Administrative expenses (other) incurred2020-12-31$9,738
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Value of net income/loss2020-12-31$503,082
Value of net assets at end of year (total assets less liabilities)2020-12-31$139
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$1,723,127
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2020-12-31No
Were any leases to which the plan was party in default or uncollectible2020-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2020-12-31$55
Value of interest in pooled separate accounts at beginning of year2020-12-31$1,572,160
Interest on participant loans2020-12-31$4,365
Value of interest in common/collective trusts at end of year2020-12-31$84
Net investment gain/loss from registered investment companies (e.g. mutual funds)2020-12-31$270,600
Net investment gain or loss from common/collective trusts2020-12-31$693
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-12-31No
Was there a failure to transmit to the plan any participant contributions2020-12-31No
Has the plan failed to provide any benefit when due under the plan2020-12-31No
Contributions received in cash from employer2020-12-31$253,180
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-12-31$457,564
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32020-12-31Yes
Did the plan have assets held for investment2020-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-12-31No
Opinion of an independent qualified public accountant for this plan2020-12-31Disclaimer
Accountancy firm name2020-12-31TUSCAN AND COMPANY, P.A.
Accountancy firm EIN2020-12-31260254161
2019 : BEST ELECTRIC, AIR CONDITIONING & PLUMBING, LLC 401(K) PLAN 2019 401k financial data
Total unrealized appreciation/depreciation of assets2019-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$272
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$0
Total income from all sources (including contributions)2019-12-31$902,637
Total loss/gain on sale of assets2019-12-31$0
Total of all expenses incurred2019-12-31$518,428
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-12-31$503,865
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-12-31$597,577
Value of total assets at end of year2019-12-31$1,723,399
Value of total assets at beginning of year2019-12-31$1,338,918
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-12-31$14,563
Total interest from all sources2019-12-31$6,812
Total dividends received (eg from common stock, registered investment company shares)2019-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-12-31No
Administrative expenses professional fees incurred2019-12-31$970
Was this plan covered by a fidelity bond2019-12-31Yes
Value of fidelity bond cover2019-12-31$100,000
If this is an individual account plan, was there a blackout period2019-12-31No
Were there any nonexempt tranactions with any party-in-interest2019-12-31No
Contributions received from participants2019-12-31$354,101
Participant contributions at end of year2019-12-31$151,239
Participant contributions at beginning of year2019-12-31$65,185
Participant contributions at beginning of year2019-12-31$21
Income. Received or receivable in cash from other sources (including rollovers)2019-12-31$32,609
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2019-12-31$272
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Value of net income/loss2019-12-31$384,209
Value of net assets at end of year (total assets less liabilities)2019-12-31$1,723,127
Value of net assets at beginning of year (total assets less liabilities)2019-12-31$1,338,918
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2019-12-31No
Were any leases to which the plan was party in default or uncollectible2019-12-31No
Value of interest in pooled separate accounts at end of year2019-12-31$1,572,160
Value of interest in pooled separate accounts at beginning of year2019-12-31$1,273,712
Interest on participant loans2019-12-31$6,812
Net investment gain/loss from pooled separate accounts2019-12-31$298,248
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-12-31No
Was there a failure to transmit to the plan any participant contributions2019-12-31No
Has the plan failed to provide any benefit when due under the plan2019-12-31No
Contributions received in cash from employer2019-12-31$210,867
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-12-31$503,865
Contract administrator fees2019-12-31$13,593
Did the plan have assets held for investment2019-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2019-12-31Yes
Opinion of an independent qualified public accountant for this plan2019-12-31Disclaimer
Accountancy firm name2019-12-31TUSCAN AND COMPANY, P.A.
Accountancy firm EIN2019-12-31260254161
2018 : BEST ELECTRIC, AIR CONDITIONING & PLUMBING, LLC 401(K) PLAN 2018 401k financial data
Total unrealized appreciation/depreciation of assets2018-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2018-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2018-12-31$0
Total income from all sources (including contributions)2018-12-31$398,392
Total loss/gain on sale of assets2018-12-31$0
Total of all expenses incurred2018-12-31$91,487
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2018-12-31$80,750
Total contributions o plan (from employers,participants, others, non cash contrinutions)2018-12-31$462,339
Value of total assets at end of year2018-12-31$1,338,918
Value of total assets at beginning of year2018-12-31$1,032,013
Total of administrative expenses incurred including professional, contract, advisory and management fees2018-12-31$10,737
Total interest from all sources2018-12-31$2,696
Total dividends received (eg from common stock, registered investment company shares)2018-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2018-12-31No
Administrative expenses professional fees incurred2018-12-31$590
Was this plan covered by a fidelity bond2018-12-31Yes
Value of fidelity bond cover2018-12-31$100,000
If this is an individual account plan, was there a blackout period2018-12-31No
Were there any nonexempt tranactions with any party-in-interest2018-12-31No
Contributions received from participants2018-12-31$294,458
Participant contributions at end of year2018-12-31$65,185
Participant contributions at beginning of year2018-12-31$50,207
Participant contributions at end of year2018-12-31$21
Income. Received or receivable in cash from other sources (including rollovers)2018-12-31$951
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2018-12-31No
Value of net income/loss2018-12-31$306,905
Value of net assets at end of year (total assets less liabilities)2018-12-31$1,338,918
Value of net assets at beginning of year (total assets less liabilities)2018-12-31$1,032,013
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2018-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2018-12-31No
Were any leases to which the plan was party in default or uncollectible2018-12-31No
Value of interest in pooled separate accounts at end of year2018-12-31$1,273,712
Value of interest in pooled separate accounts at beginning of year2018-12-31$981,806
Interest on participant loans2018-12-31$2,696
Net investment gain/loss from pooled separate accounts2018-12-31$-66,643
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2018-12-31No
Was there a failure to transmit to the plan any participant contributions2018-12-31No
Has the plan failed to provide any benefit when due under the plan2018-12-31No
Contributions received in cash from employer2018-12-31$166,930
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2018-12-31$80,750
Contract administrator fees2018-12-31$10,147
Did the plan have assets held for investment2018-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2018-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2018-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2018-12-31Yes
Opinion of an independent qualified public accountant for this plan2018-12-31Disclaimer
Accountancy firm name2018-12-31TUSCAN AND COMPANY, P.A.
Accountancy firm EIN2018-12-31260254161

Form 5500 Responses for BEST ELECTRIC, AIR CONDITIONING & PLUMBING, LLC 401(K) PLAN

2020: BEST ELECTRIC, AIR CONDITIONING & PLUMBING, LLC 401(K) PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
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
2019: BEST ELECTRIC, AIR CONDITIONING & PLUMBING, LLC 401(K) PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – InsuranceYes
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement – InsuranceYes
2019-01-01Plan benefit arrangement - TrustYes
2018: BEST ELECTRIC, AIR CONDITIONING & PLUMBING, LLC 401(K) PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedNo
2018-01-01This submission is the final filingNo
2018-01-01This return/report is a short plan year return/report (less than 12 months)No
2018-01-01Plan is a collectively bargained planNo
2018-01-01Plan funding arrangement – InsuranceYes
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement – InsuranceYes
2018-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number124099
Policy instance 1
Insurance contract or identification number124099
Number of Individuals Covered0
Insurance policy start date2020-01-01
Insurance policy end date2020-06-15
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $729
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 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
Amount paid for insurance broker fees729
Additional information about fees paid to insurance brokerTPA COMPENSATION , TPA
Insurance broker organization code?5
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number124099
Policy instance 1
Insurance contract or identification number124099
Number of Individuals Covered97
Insurance policy start date2019-01-01
Insurance policy end date2019-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $1,770
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 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
Amount paid for insurance broker fees1770
Additional information about fees paid to insurance brokerTPA COMPENSATION, TPA FEES
Insurance broker organization code?5
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number124099
Policy instance 1
Insurance contract or identification number124099
Number of Individuals Covered74
Insurance policy start date2018-01-01
Insurance policy end date2018-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $1,205
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 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
Amount paid for insurance broker fees1205
Additional information about fees paid to insurance brokerTPA COMPENSATION, TPA FEES
Insurance broker organization code?5

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