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P & M GIBBONS, INC. 401(K) PLAN 401k Plan overview

Plan NameP & M GIBBONS, INC. 401(K) PLAN
Plan identification number 001

P & M GIBBONS, INC. 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.
  • 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

P & M GIBBONS, INC. has sponsored the creation of one or more 401k plans.

Company Name:P & M GIBBONS, INC.
Employer identification number (EIN):814458388
NAIC Classification:441300
NAIC Description: Automotive Parts, Accessories, and Tire Stores

Form 5500 Filing Information

Submission information for form 5500 for 401k plan P & M GIBBONS, INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01PHILLIP GIBBONS2023-01-25
0012021-01-01PHILLIP GIBBONS2022-03-04
0012020-01-01PHILLIP GIBBONS2021-05-25
0012019-01-01PHILLIP GIBBONS2020-04-07

Plan Statistics for P & M GIBBONS, INC. 401(K) PLAN

401k plan membership statisitcs for P & M GIBBONS, INC. 401(K) PLAN

Measure Date Value
2022: P & M GIBBONS, INC. 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-0114
Total number of active participants reported on line 7a of the Form 55002022-01-010
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-010
Total of all active and inactive participants2022-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-010
Number of participants with account balances2022-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: P & M GIBBONS, INC. 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-0113
Total number of active participants reported on line 7a of the Form 55002021-01-019
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-014
Total of all active and inactive participants2021-01-0113
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-0113
Number of participants with account balances2021-01-018
2020: P & M GIBBONS, INC. 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-0116
Total number of active participants reported on line 7a of the Form 55002020-01-019
Number of other retired or separated participants entitled to future benefits2020-01-014
Total of all active and inactive participants2020-01-0113
Total participants2020-01-0113
Number of participants with account balances2020-01-018
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: P & M GIBBONS, INC. 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-0123
Total number of active participants reported on line 7a of the Form 55002019-01-0110
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-017
Total of all active and inactive participants2019-01-0117
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-0117
Number of participants with account balances2019-01-0112
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010

Financial Data on P & M GIBBONS, INC. 401(K) PLAN

Measure Date Value
2022 : P & M GIBBONS, INC. 401(K) PLAN 2022 401k financial data
Total income from all sources2022-09-30$-69,637
Expenses. Total of all expenses incurred2022-09-30$606,919
Benefits paid (including direct rollovers)2022-09-30$606,919
Total plan assets at end of year2022-09-30$0
Total plan assets at beginning of year2022-09-30$676,556
Value of fidelity bond covering the plan2022-09-30$60,000
Total contributions received or receivable from participants2022-09-30$8,011
Other income received2022-09-30$-78,477
Net income (gross income less expenses)2022-09-30$-676,556
Net plan assets at end of year (total assets less liabilities)2022-09-30$0
Net plan assets at beginning of year (total assets less liabilities)2022-09-30$676,556
Assets. Value of participant loans2022-09-30$0
Total contributions received or receivable from employer(s)2022-09-30$829
2021 : P & M GIBBONS, INC. 401(K) PLAN 2021 401k financial data
Total income from all sources2021-12-31$143,984
Total plan assets at end of year2021-12-31$676,556
Total plan assets at beginning of year2021-12-31$532,572
Value of fidelity bond covering the plan2021-12-31$70,000
Total contributions received or receivable from participants2021-12-31$43,129
Other income received2021-12-31$96,081
Net income (gross income less expenses)2021-12-31$143,984
Net plan assets at end of year (total assets less liabilities)2021-12-31$676,556
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$532,572
Assets. Value of participant loans2021-12-31$3,695
Total contributions received or receivable from employer(s)2021-12-31$4,774
2020 : P & M GIBBONS, INC. 401(K) PLAN 2020 401k financial data
Total income from all sources2020-12-31$139,433
Expenses. Total of all expenses incurred2020-12-31$68,872
Benefits paid (including direct rollovers)2020-12-31$68,872
Total plan assets at end of year2020-12-31$532,572
Total plan assets at beginning of year2020-12-31$462,011
Value of fidelity bond covering the plan2020-12-31$55,000
Total contributions received or receivable from participants2020-12-31$6,425
Other income received2020-12-31$84,629
Net income (gross income less expenses)2020-12-31$70,561
Net plan assets at end of year (total assets less liabilities)2020-12-31$532,572
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$462,011
Assets. Value of participant loans2020-12-31$15,062
Total contributions received or receivable from employer(s)2020-12-31$48,379
2019 : P & M GIBBONS, INC. 401(K) PLAN 2019 401k financial data
Total income from all sources2019-12-31$154,152
Total plan assets at end of year2019-12-31$462,011
Total plan assets at beginning of year2019-12-31$307,859
Value of fidelity bond covering the plan2019-12-31$50,000
Total contributions received or receivable from participants2019-12-31$56,674
Other income received2019-12-31$77,589
Net income (gross income less expenses)2019-12-31$154,152
Net plan assets at end of year (total assets less liabilities)2019-12-31$462,011
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$307,859
Assets. Value of participant loans2019-12-31$25,904
Total contributions received or receivable from employer(s)2019-12-31$19,889

Form 5500 Responses for P & M GIBBONS, INC. 401(K) PLAN

2022: P & M GIBBONS, INC. 401(K) PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01This submission is the final filingYes
2022-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2022-01-01Plan funding arrangement – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: P & M GIBBONS, INC. 401(K) 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 - TrustYes
2020: P & M GIBBONS, INC. 401(K) PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Plan funding arrangement – InsuranceYes
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: P & M GIBBONS, INC. 401(K) PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Plan funding arrangement – InsuranceYes
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan 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 number122726
Policy instance 1
Insurance contract or identification number122726
Number of Individuals Covered0
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $1,199
Total amount of fees paid to insurance companyUSD $121
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $1,199
Insurance broker organization code?3
Amount paid for insurance broker fees121
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number122726
Policy instance 1
Insurance contract or identification number122726
Number of Individuals Covered8
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $2,966
Total amount of fees paid to insurance companyUSD $302
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $2,966
Insurance broker organization code?3
Amount paid for insurance broker fees302
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number122726
Policy instance 1
Insurance contract or identification number122726
Number of Individuals Covered8
Insurance policy start date2020-01-01
Insurance policy end date2020-12-31
Total amount of commissions paid to insurance brokerUSD $2,106
Total amount of fees paid to insurance companyUSD $222
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $2,106
Insurance broker organization code?3
Amount paid for insurance broker fees222
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number122726
Policy instance 1
Insurance contract or identification number122726
Number of Individuals Covered12
Insurance policy start date2019-01-01
Insurance policy end date2019-12-31
Total amount of commissions paid to insurance brokerUSD $2,088
Total amount of fees paid to insurance companyUSD $191
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $1,792
Insurance broker organization code?3
Amount paid for insurance broker fees191

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