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GALILEO 401(K) PLAN 401k Plan overview

Plan NameGALILEO 401(K) PLAN
Plan identification number 001

GALILEO 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.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • 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

GALILEO INC has sponsored the creation of one or more 401k plans.

Company Name:GALILEO INC
Employer identification number (EIN):822183623
NAIC Classification:511210
NAIC Description:Software Publishers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan GALILEO 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012024-01-01RICHIE NGUYEN
0012023-01-01
0012023-01-01CRYSTAL EVANS
0012022-10-01
0012022-10-01CRYSTAL EVANS
0012022-01-01
0012022-01-01CRYSTAL EVANS
0012021-01-01CHRISTINE RIMER2022-07-15
0012020-01-01CAROL HO2021-05-28
0012019-01-01CAROL HO2020-07-02
0012018-04-23CAROL HO2019-07-17
0012018-04-23CAROL HO2020-05-18

Financial Data on GALILEO 401(K) PLAN

Measure Date Value
2023 : GALILEO 401(K) PLAN 2023 401k financial data
Total unrealized appreciation/depreciation of assets2023-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-12-31$0
Total income from all sources (including contributions)2023-12-31$6,949,521
Total loss/gain on sale of assets2023-12-31$0
Total of all expenses incurred2023-12-31$859,613
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2023-12-31$817,336
Value of total corrective distributions2023-12-31$1,021
Total contributions o plan (from employers,participants, others, non cash contrinutions)2023-12-31$5,201,292
Value of total assets at end of year2023-12-31$12,513,822
Value of total assets at beginning of year2023-12-31$6,423,914
Total of administrative expenses incurred including professional, contract, advisory and management fees2023-12-31$41,256
Total interest from all sources2023-12-31$4,137
Total dividends received (eg from common stock, registered investment company shares)2023-12-31$225,684
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2023-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2023-12-31$225,684
Was this plan covered by a fidelity bond2023-12-31Yes
Value of fidelity bond cover2023-12-31$500,000
If this is an individual account plan, was there a blackout period2023-12-31No
Were there any nonexempt tranactions with any party-in-interest2023-12-31No
Contributions received from participants2023-12-31$3,483,488
Participant contributions at end of year2023-12-31$134,168
Participant contributions at beginning of year2023-12-31$58,717
Participant contributions at end of year2023-12-31$60,599
Income. Received or receivable in cash from other sources (including rollovers)2023-12-31$1,226,665
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2023-12-31$6,778
Other income not declared elsewhere2023-12-31$1,257
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2023-12-31No
Value of net income/loss2023-12-31$6,089,908
Value of net assets at end of year (total assets less liabilities)2023-12-31$12,513,822
Value of net assets at beginning of year (total assets less liabilities)2023-12-31$6,423,914
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2023-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2023-12-31No
Were any leases to which the plan was party in default or uncollectible2023-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2023-12-31$12,308,905
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2023-12-31$6,365,197
Interest on participant loans2023-12-31$4,137
Net investment gain/loss from registered investment companies (e.g. mutual funds)2023-12-31$1,517,151
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2023-12-31No
Was there a failure to transmit to the plan any participant contributions2023-12-31Yes
Has the plan failed to provide any benefit when due under the plan2023-12-31No
Contributions received in cash from employer2023-12-31$491,139
Employer contributions (assets) at end of year2023-12-31$10,150
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2023-12-31$810,558
Contract administrator fees2023-12-31$41,256
Did the plan have assets held for investment2023-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2023-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2023-12-31No
Opinion of an independent qualified public accountant for this plan2023-12-31Unqualified
Accountancy firm name2023-12-31FRANK, RIMERMAN + CO. LLP
Accountancy firm EIN2023-12-31941341042
Total unrealized appreciation/depreciation of assets2023-01-01$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-01-01$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-01-01$0
Total income from all sources (including contributions)2023-01-01$6,949,521
Total loss/gain on sale of assets2023-01-01$0
Total of all expenses incurred2023-01-01$859,613
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2023-01-01$817,336
Value of total corrective distributions2023-01-01$1,021
Total contributions o plan (from employers,participants, others, non cash contrinutions)2023-01-01$5,201,292
Value of total assets at end of year2023-01-01$12,513,822
Value of total assets at beginning of year2023-01-01$6,423,914
Total of administrative expenses incurred including professional, contract, advisory and management fees2023-01-01$41,256
Total interest from all sources2023-01-01$4,137
Total dividends received (eg from common stock, registered investment company shares)2023-01-01$225,684
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2023-01-01No
Total dividends received from registered investment company shares (eg mutual funds)2023-01-01$225,684
Was this plan covered by a fidelity bond2023-01-01Yes
Value of fidelity bond cover2023-01-01$500,000
If this is an individual account plan, was there a blackout period2023-01-01No
Were there any nonexempt tranactions with any party-in-interest2023-01-01No
Contributions received from participants2023-01-01$3,483,488
Participant contributions at end of year2023-01-01$134,168
Participant contributions at beginning of year2023-01-01$58,717
Participant contributions at end of year2023-01-01$60,599
Income. Received or receivable in cash from other sources (including rollovers)2023-01-01$1,226,665
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2023-01-01$6,778
Other income not declared elsewhere2023-01-01$1,257
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2023-01-01No
Value of net income/loss2023-01-01$6,089,908
Value of net assets at end of year (total assets less liabilities)2023-01-01$12,513,822
Value of net assets at beginning of year (total assets less liabilities)2023-01-01$6,423,914
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2023-01-01No
Were any loans by the plan or fixed income obligations due to the plan in default2023-01-01No
Were any leases to which the plan was party in default or uncollectible2023-01-01No
Value of interest in registered invesment companies (eg mutual funds) at end of year2023-01-01$12,308,905
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2023-01-01$6,365,197
Interest on participant loans2023-01-01$4,137
Net investment gain/loss from registered investment companies (e.g. mutual funds)2023-01-01$1,517,151
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2023-01-01No
Was there a failure to transmit to the plan any participant contributions2023-01-01Yes
Has the plan failed to provide any benefit when due under the plan2023-01-01No
Contributions received in cash from employer2023-01-01$491,139
Employer contributions (assets) at end of year2023-01-01$10,150
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2023-01-01$810,558
Contract administrator fees2023-01-01$41,256
Did the plan have assets held for investment2023-01-01Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2023-01-01No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2023-01-01No
Opinion of an independent qualified public accountant for this plan2023-01-011
Accountancy firm name2023-01-01FRANK, RIMERMAN + CO. LLP
Accountancy firm EIN2023-01-01941341042
2022 : GALILEO 401(K) PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
Total transfer of assets to this plan2022-12-31$5,841,995
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total income from all sources (including contributions)2022-12-31$604,301
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$22,382
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$20,032
Value of total corrective distributions2022-12-31$219
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$616,378
Value of total assets at end of year2022-12-31$6,423,914
Value of total assets at beginning of year2022-12-31$0
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$2,350
Total interest from all sources2022-12-31$668
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$116,837
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2022-12-31$116,837
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$1,000,000
If this is an individual account plan, was there a blackout period2022-12-31Yes
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$534,649
Participant contributions at end of year2022-12-31$58,717
Participant contributions at beginning of year2022-12-31$1,234
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$5,699
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$581,919
Value of net assets at end of year (total assets less liabilities)2022-12-31$6,423,914
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$0
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-12-31$6,365,197
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$2,987,230
Interest on participant loans2022-12-31$668
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-129,582
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31Yes
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$76,030
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$20,032
Contract administrator fees2022-12-31$2,350
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32022-12-31Yes
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31FRANK, RIMERMAN & CO. LLP
Accountancy firm EIN2022-12-31941341042
Total unrealized appreciation/depreciation of assets2022-10-01$0
Total transfer of assets to this plan2022-10-01$5,841,995
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-10-01$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-10-01$0
Total income from all sources (including contributions)2022-10-01$604,301
Total loss/gain on sale of assets2022-10-01$0
Total of all expenses incurred2022-10-01$22,382
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-10-01$20,032
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-10-01$616,378
Value of total assets at end of year2022-10-01$6,423,914
Value of total assets at beginning of year2022-10-01$0
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-10-01$2,350
Total interest from all sources2022-10-01$668
Total dividends received (eg from common stock, registered investment company shares)2022-10-01$116,837
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-10-01No
Total dividends received from registered investment company shares (eg mutual funds)2022-10-01$116,837
Was this plan covered by a fidelity bond2022-10-01Yes
Value of fidelity bond cover2022-10-01$1,000,000
If this is an individual account plan, was there a blackout period2022-10-01Yes
Were there any nonexempt tranactions with any party-in-interest2022-10-01No
Contributions received from participants2022-10-01$534,649
Participant contributions at end of year2022-10-01$58,717
Income. Received or receivable in cash from other sources (including rollovers)2022-10-01$5,699
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-10-01No
Value of net income/loss2022-10-01$581,919
Value of net assets at end of year (total assets less liabilities)2022-10-01$6,423,914
Value of net assets at beginning of year (total assets less liabilities)2022-10-01$0
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-10-01No
Were any loans by the plan or fixed income obligations due to the plan in default2022-10-01No
Were any leases to which the plan was party in default or uncollectible2022-10-01No
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-10-01$6,365,197
Interest on participant loans2022-10-01$668
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-10-01$-129,582
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-10-01No
Was there a failure to transmit to the plan any participant contributions2022-10-01Yes
Has the plan failed to provide any benefit when due under the plan2022-10-01No
Contributions received in cash from employer2022-10-01$76,030
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-10-01$20,032
Contract administrator fees2022-10-01$2,350
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32022-10-01Yes
Did the plan have assets held for investment2022-10-01Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-10-01No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-10-01No
Total unrealized appreciation/depreciation of assets2022-01-01$0
Total transfer of assets to this plan2022-01-01$1,992,859
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-01-01$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-01-01$0
Total income from all sources (including contributions)2022-01-01$1,908,976
Total loss/gain on sale of assets2022-01-01$0
Total of all expenses incurred2022-01-01$466,385
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-01-01$460,679
Value of total corrective distributions2022-01-01$219
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-01-01$2,460,325
Value of total assets at end of year2022-01-01$6,423,914
Value of total assets at beginning of year2022-01-01$2,988,464
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-01-01$5,487
Total interest from all sources2022-01-01$1,166
Total dividends received (eg from common stock, registered investment company shares)2022-01-01$166,876
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-01-01No
Total dividends received from registered investment company shares (eg mutual funds)2022-01-01$166,876
Was this plan covered by a fidelity bond2022-01-01Yes
Value of fidelity bond cover2022-01-01$500,000
If this is an individual account plan, was there a blackout period2022-01-01Yes
Were there any nonexempt tranactions with any party-in-interest2022-01-01No
Contributions received from participants2022-01-01$1,612,288
Participant contributions at end of year2022-01-01$58,717
Participant contributions at beginning of year2022-01-01$1,234
Income. Received or receivable in cash from other sources (including rollovers)2022-01-01$620,103
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-01-01No
Value of net income/loss2022-01-01$1,442,591
Value of net assets at end of year (total assets less liabilities)2022-01-01$6,423,914
Value of net assets at beginning of year (total assets less liabilities)2022-01-01$2,988,464
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-01-01No
Were any loans by the plan or fixed income obligations due to the plan in default2022-01-01No
Were any leases to which the plan was party in default or uncollectible2022-01-01No
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-01-01$6,365,197
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-01-01$2,987,230
Interest on participant loans2022-01-01$1,166
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-01-01$-719,391
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-01-01No
Was there a failure to transmit to the plan any participant contributions2022-01-01Yes
Has the plan failed to provide any benefit when due under the plan2022-01-01No
Contributions received in cash from employer2022-01-01$227,934
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-01-01$460,679
Contract administrator fees2022-01-01$5,487
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32022-01-01Yes
Did the plan have assets held for investment2022-01-01Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-01-01No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-01-01No
Opinion of an independent qualified public accountant for this plan2022-01-011
Accountancy firm name2022-01-01FRANK, RIMERMAN & CO. LLP
Accountancy firm EIN2022-01-01941341042

Form 5500 Responses for GALILEO 401(K) PLAN

2023: GALILEO 401(K) PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01This submission is the final filingNo
2023-01-01This return/report is a short plan year return/report (less than 12 months)No
2023-01-01Plan is a collectively bargained planNo
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement - TrustYes
2022: GALILEO 401(K) PLAN 2022 form 5500 responses
2022-10-01Type of plan entitySingle employer plan
2022-10-01This submission is the final filingNo
2022-10-01This return/report is a short plan year return/report (less than 12 months)Yes
2022-10-01Plan is a collectively bargained planNo
2022-10-01Plan funding arrangement – TrustYes
2022-10-01Plan benefit arrangement - TrustYes
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedYes
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

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