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LAKE STATES CONSTRUCTION 401(K) PLAN 401k Plan overview

Plan NameLAKE STATES CONSTRUCTION 401(K) PLAN
Plan identification number 003

LAKE STATES CONSTRUCTION 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

LAKE STATES CONSTRUCTION LLC has sponsored the creation of one or more 401k plans.

Company Name:LAKE STATES CONSTRUCTION LLC
Employer identification number (EIN):873989458
NAIC Classification:221100

Form 5500 Filing Information

Submission information for form 5500 for 401k plan LAKE STATES CONSTRUCTION 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032023-01-01SONJA D OLSON2024-10-09 SONJA D OLSON2024-10-09
0032022-01-01
0032022-01-01SONJA OLSON

Financial Data on LAKE STATES CONSTRUCTION 401(K) PLAN

Measure Date Value
2025 : LAKE STATES CONSTRUCTION 401(K) PLAN 2025 401k financial data
Total expenses incurred by plan in this plan year2025-10-01267728
Net assets as of the end of the plan year2025-10-013064181
Total assets as of the beginning of the plan year2025-10-012500644
Value of plan covered by a fidelity bond2025-10-01500000
Participant contributions to plan in this plan year2025-10-01290453
Value of participant loans at end of plan year2025-10-018345
Other income to plan in this plan year2025-10-01351198
Plan net income in this plan year2025-10-01563537
Net assets as of the end of the plan year2025-10-013064181
Net assets as of the beginning of the plan year2025-10-012500644
Employer contributions to plan in this plan year2025-10-01189614
Expensese paid to adminstrative service provicers from plan in this plan year2025-10-0113906
2024 : LAKE STATES CONSTRUCTION 401(K) PLAN 2024 401k financial data
Total expenses incurred by plan in this plan year2024-10-09342554
Net assets as of the end of the plan year2024-10-092500644
Total assets as of the beginning of the plan year2024-10-092202951
Value of plan covered by a fidelity bond2024-10-09500000
Participant contributions to plan in this plan year2024-10-09186057
Value of participant loans at end of plan year2024-10-0910834
Other income to plan in this plan year2024-10-09334754
Plan net income in this plan year2024-10-09297693
Net assets as of the end of the plan year2024-10-092500644
Net assets as of the beginning of the plan year2024-10-092202951
Employer contributions to plan in this plan year2024-10-09119436
Expensese paid to adminstrative service provicers from plan in this plan year2024-10-0911062
2022 : LAKE STATES CONSTRUCTION 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$1,632
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total income from all sources (including contributions)2022-12-31$-555,061
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$2,478,734
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$2,465,617
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$226,670
Value of total assets at end of year2022-12-31$2,204,583
Value of total assets at beginning of year2022-12-31$5,236,746
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$13,117
Total interest from all sources2022-12-31$2,340
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$16,481
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$16,481
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$500,000
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$161,238
Participant contributions at end of year2022-12-31$30,824
Participant contributions at beginning of year2022-12-31$124,150
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2022-12-31$1,632
Administrative expenses (other) incurred2022-12-31$927
Total non interest bearing cash at end of year2022-12-31$1,632
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-3,033,795
Value of net assets at end of year (total assets less liabilities)2022-12-31$2,202,951
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$5,236,746
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 pooled separate accounts at end of year2022-12-31$1,802,094
Value of interest in pooled separate accounts at beginning of year2022-12-31$3,851,744
Interest on participant loans2022-12-31$2,340
Value of interest in common/collective trusts at end of year2022-12-31$117,333
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2022-12-31$239,814
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2022-12-31$1,260,852
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-46,172
Net investment gain/loss from pooled separate accounts2022-12-31$-755,468
Net investment gain or loss from common/collective trusts2022-12-31$1,088
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$65,432
Employer contributions (assets) at end of year2022-12-31$12,886
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$2,465,617
Contract administrator fees2022-12-31$12,190
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 name2022-12-31BOECKERMANN GRAFTSROM & MAYER, LLC
Accountancy firm EIN2022-12-31200472826
Total unrealized appreciation/depreciation of assets2022-01-01$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-01-01$1,632
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-01-01$0
Total income from all sources (including contributions)2022-01-01$-555,061
Total loss/gain on sale of assets2022-01-01$0
Total of all expenses incurred2022-01-01$2,478,734
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-01-01$2,465,617
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-01-01$226,670
Value of total assets at end of year2022-01-01$2,204,583
Value of total assets at beginning of year2022-01-01$5,236,746
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-01-01$13,117
Total interest from all sources2022-01-01$2,340
Total dividends received (eg from common stock, registered investment company shares)2022-01-01$16,481
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$16,481
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 period2022-01-01No
Were there any nonexempt tranactions with any party-in-interest2022-01-01No
Contributions received from participants2022-01-01$161,238
Participant contributions at end of year2022-01-01$30,824
Participant contributions at beginning of year2022-01-01$124,150
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2022-01-01$1,632
Administrative expenses (other) incurred2022-01-01$927
Total non interest bearing cash at end of year2022-01-01$1,632
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-01-01No
Value of net income/loss2022-01-01$-3,033,795
Value of net assets at end of year (total assets less liabilities)2022-01-01$2,202,951
Value of net assets at beginning of year (total assets less liabilities)2022-01-01$5,236,746
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 pooled separate accounts at end of year2022-01-01$1,802,094
Value of interest in pooled separate accounts at beginning of year2022-01-01$3,851,744
Interest on participant loans2022-01-01$2,340
Value of interest in common/collective trusts at end of year2022-01-01$117,333
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2022-01-01$239,814
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2022-01-01$1,260,852
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-01-01$-46,172
Net investment gain/loss from pooled separate accounts2022-01-01$-755,468
Net investment gain or loss from common/collective trusts2022-01-01$1,088
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 contributions2022-01-01No
Has the plan failed to provide any benefit when due under the plan2022-01-01No
Contributions received in cash from employer2022-01-01$65,432
Employer contributions (assets) at end of year2022-01-01$12,886
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-01-01$2,465,617
Contract administrator fees2022-01-01$12,190
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 name2022-01-01BOECKERMANN GRAFTSROM & MAYER, LLC
Accountancy firm EIN2022-01-01200472826

Form 5500 Responses for LAKE STATES CONSTRUCTION 401(K) PLAN

2022: LAKE STATES CONSTRUCTION 401(K) PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
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 – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

MINNESOTA LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66168 )
Policy contract number066948
Policy instance 1

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