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TOOL GAUGE & MACHINE WORKS, INC. PROFIT SHARING & 401(K) PLAN 401k Plan overview

Plan NameTOOL GAUGE & MACHINE WORKS, INC. PROFIT SHARING & 401(K) PLAN
Plan identification number 002

TOOL GAUGE & MACHINE WORKS, INC. PROFIT SHARING & 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.
  • 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

TOOL GAUGE & MACHINE WORKS, INC. has sponsored the creation of one or more 401k plans.

Company Name:TOOL GAUGE & MACHINE WORKS, INC.
Employer identification number (EIN):910817261
NAIC Classification:326100

Form 5500 Filing Information

Submission information for form 5500 for 401k plan TOOL GAUGE & MACHINE WORKS, INC. PROFIT SHARING & 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022020-10-01DEBBIE LEE2022-07-13
0022020-10-01DEBBIE LEE2022-07-13
0022020-10-01DEBBIE LEE2022-09-27
0022019-10-01JACQUELYN HOFLICH2021-02-02
0022018-10-01JACQUELYN HOFLICH2019-12-09 JACQUELYN HOFLICH2019-12-09
0022017-10-01JACQUELYN HOFLICH2019-02-15
0022016-10-01GEORGIANA MARZANO2018-02-21
0022015-10-01GEORGIANA MARZANO2017-04-18
0022014-10-01GEORGIANA MARZANO2016-03-15
0022013-10-01GEORGIANA MARZANO2015-02-11
0022012-10-01GEORGIANA MARZANO2014-04-09 GEORGIANA MARZANO2014-04-09
0022011-10-01LISA LACKERMAYER2013-02-05 LISA LACKERMAYER2013-02-05
0022010-10-01LISA LACKERMAYER2012-01-17

Plan Statistics for TOOL GAUGE & MACHINE WORKS, INC. PROFIT SHARING & 401(K) PLAN

401k plan membership statisitcs for TOOL GAUGE & MACHINE WORKS, INC. PROFIT SHARING & 401(K) PLAN

Measure Date Value
2020: TOOL GAUGE & MACHINE WORKS, INC. PROFIT SHARING & 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year2020-10-01127
Total number of active participants reported on line 7a of the Form 55002020-10-0169
Number of other retired or separated participants entitled to future benefits2020-10-0152
Total of all active and inactive participants2020-10-01121
Total participants2020-10-01121
Number of participants with account balances2020-10-01107
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-10-010

Financial Data on TOOL GAUGE & MACHINE WORKS, INC. PROFIT SHARING & 401(K) PLAN

Measure Date Value
2021 : TOOL GAUGE & MACHINE WORKS, INC. PROFIT SHARING & 401(K) PLAN 2021 401k financial data
Total income from all sources (including contributions)2021-09-30$932,089
Total of all expenses incurred2021-09-30$444,940
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-09-30$435,668
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-09-30$373,593
Value of total assets at end of year2021-09-30$4,219,069
Value of total assets at beginning of year2021-09-30$3,731,920
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-09-30$9,272
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-09-30No
Was this plan covered by a fidelity bond2021-09-30Yes
Value of fidelity bond cover2021-09-30$500,000
If this is an individual account plan, was there a blackout period2021-09-30No
Were there any nonexempt tranactions with any party-in-interest2021-09-30No
Contributions received from participants2021-09-30$201,716
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-09-30No
Value of net income/loss2021-09-30$487,149
Value of net assets at end of year (total assets less liabilities)2021-09-30$4,219,069
Value of net assets at beginning of year (total assets less liabilities)2021-09-30$3,731,920
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2021-09-30No
Were any loans by the plan or fixed income obligations due to the plan in default2021-09-30No
Were any leases to which the plan was party in default or uncollectible2021-09-30No
Investment advisory and management fees2021-09-30$9,272
Value of interest in registered invesment companies (eg mutual funds) at end of year2021-09-30$3,770,109
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-09-30$544,346
Value of interest in pooled separate accounts at end of year2021-09-30$4,047,192
Value of interest in pooled separate accounts at beginning of year2021-09-30$3,558,259
Value of interest in common/collective trusts at end of year2021-09-30$0
Value of interest in common/collective trusts at beginning of year2021-09-30$2,571,114
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2021-09-30$277,083
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2021-09-30$442,799
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-09-30$558,496
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-09-30No
Was there a failure to transmit to the plan any participant contributions2021-09-30No
Has the plan failed to provide any benefit when due under the plan2021-09-30No
Contributions received in cash from employer2021-09-30$171,877
Employer contributions (assets) at end of year2021-09-30$171,877
Employer contributions (assets) at beginning of year2021-09-30$173,661
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-09-30$435,668
Did the plan have assets held for investment2021-09-30Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2021-09-30No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2021-09-30No
Opinion of an independent qualified public accountant for this plan2021-09-30Disclaimer
Accountancy firm name2021-09-30DP&C
Accountancy firm EIN2021-09-30911503183

Form 5500 Responses for TOOL GAUGE & MACHINE WORKS, INC. PROFIT SHARING & 401(K) PLAN

2020: TOOL GAUGE & MACHINE WORKS, INC. PROFIT SHARING & 401(K) PLAN 2020 form 5500 responses
2020-10-01Type of plan entitySingle employer plan
2020-10-01Submission has been amendedYes
2020-10-01Plan funding arrangement – InsuranceYes
2020-10-01Plan funding arrangement – TrustYes
2020-10-01Plan benefit arrangement – InsuranceYes
2020-10-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 68322 )
Policy contract number331213-01
Policy instance 1
Insurance contract or identification number331213-01
Number of Individuals Covered2
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes

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