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MICHIGAN BUSINESS AND AUCTION SERVICES, LLC 401(K) PLAN 401k Plan overview

Plan NameMICHIGAN BUSINESS AND AUCTION SERVICES, LLC 401(K) PLAN
Plan identification number 001

MICHIGAN BUSINESS AND AUCTION SERVICES, LLC 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.
  • 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.
  • Plan covering Self-Employed individuals.
  • 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

MICHIGAN BUSINESS AND AUCTION SERVICES, LLC has sponsored the creation of one or more 401k plans.

Company Name:MICHIGAN BUSINESS AND AUCTION SERVICES, LLC
Employer identification number (EIN):161738468
NAIC Classification:323100

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MICHIGAN BUSINESS AND AUCTION SERVICES, LLC 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01THEODORE M GARRETT2024-10-21

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