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INSIGHT CHICAGO 401(K) PLAN 401k Plan overview

Plan NameINSIGHT CHICAGO 401(K) PLAN
Plan identification number 001

INSIGHT CHICAGO 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.
  • 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.

401k Sponsoring company profile

Insight Chicago Inc. Insight Chicago Inc. has sponsored the creation of one or more 401k plans.

Company Name:Insight Chicago Inc. Insight Chicago Inc.
Employer identification number (EIN):862358048
NAIC Classification:622000
NAIC Description: Hospitals

Form 5500 Filing Information

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

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01

Plan Statistics for INSIGHT CHICAGO 401(K) PLAN

401k plan membership statisitcs for INSIGHT CHICAGO 401(K) PLAN

Measure Date Value
2022: INSIGHT CHICAGO 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01402
Total number of active participants reported on line 7a of the Form 55002022-01-01523
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-015
Total of all active and inactive participants2022-01-01528
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01528
Number of participants with account balances2022-01-01401
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010

Financial Data on INSIGHT CHICAGO 401(K) PLAN

Measure Date Value
2022 : INSIGHT CHICAGO 401(K) PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
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$1,652,148
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$92,408
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$69,923
Value of total corrective distributions2022-12-31$2,232
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$1,765,588
Value of total assets at end of year2022-12-31$1,892,737
Value of total assets at beginning of year2022-12-31$332,997
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$20,253
Total interest from all sources2022-12-31$881
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$495
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$495
Administrative expenses professional fees incurred2022-12-31$1,370
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 period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$1,256,914
Participant contributions at end of year2022-12-31$2,689
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$198,974
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$1,559,740
Value of net assets at end of year (total assets less liabilities)2022-12-31$1,892,737
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$332,997
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
Investment advisory and management fees2022-12-31$3,894
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-12-31$45,047
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$4,020
Value of interest in pooled separate accounts at end of year2022-12-31$12,404
Value of interest in pooled separate accounts at beginning of year2022-12-31$91
Interest on participant loans2022-12-31$47
Interest earned on other investments2022-12-31$834
Value of interest in common/collective trusts at end of year2022-12-31$1,447,233
Value of interest in common/collective trusts at beginning of year2022-12-31$327,129
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2022-12-31$110,981
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2022-12-31$1,757
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-2,551
Net investment gain/loss from pooled separate accounts2022-12-31$-722
Net investment gain or loss from common/collective trusts2022-12-31$-111,543
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 contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$309,700
Employer contributions (assets) at end of year2022-12-31$274,383
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$69,923
Contract administrator fees2022-12-31$14,989
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

Form 5500 Responses for INSIGHT CHICAGO 401(K) PLAN

2022: INSIGHT CHICAGO 401(K) PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
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 planYes
2022-01-01Plan funding arrangement – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number632249
Policy instance 1
Insurance contract or identification number632249
Number of Individuals Covered528
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number467968
Policy instance 2
Insurance contract or identification number467968
Number of Individuals Covered528
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number632249
Policy instance 1
Insurance contract or identification number632249
Number of Individuals Covered335
Insurance policy start date2021-09-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number467968
Policy instance 2
Insurance contract or identification number467968
Number of Individuals Covered335
Insurance policy start date2021-09-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No

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