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GARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN 401k Plan overview

Plan NameGARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN
Plan identification number 501

GARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN Benefits

401k Plan TypeWelfare Benefit
Plan Features/Benefits
  • Health (other than dental or vision)

401k Sponsoring company profile

GARDEN SPOT ELECTRIC INC has sponsored the creation of one or more 401k plans.

Company Name:GARDEN SPOT ELECTRIC INC
Employer identification number (EIN):231694863
NAIC Classification:238210
NAIC Description:Electrical Contractors and Other Wiring Installation Contractors

Additional information about GARDEN SPOT ELECTRIC INC

Jurisdiction of Incorporation: COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF STATE
Incorporation Date:
Company Identification Number: 135085

More information about GARDEN SPOT ELECTRIC INC

Form 5500 Filing Information

Submission information for form 5500 for 401k plan GARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
5012023-05-01
5012022-05-01
5012021-05-01
5012020-05-01

Plan Statistics for GARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN

401k plan membership statisitcs for GARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN

Measure Date Value
2023: GARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN 2023 401k membership
Total participants, beginning-of-year2023-05-0131
Total number of active participants reported on line 7a of the Form 55002023-05-0131
Number of retired or separated participants receiving benefits2023-05-011
Number of other retired or separated participants entitled to future benefits2023-05-010
Total of all active and inactive participants2023-05-0132
2022: GARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN 2022 401k membership
Total participants, beginning-of-year2022-05-0128
Total number of active participants reported on line 7a of the Form 55002022-05-0130
Number of retired or separated participants receiving benefits2022-05-011
Number of other retired or separated participants entitled to future benefits2022-05-010
Total of all active and inactive participants2022-05-0131
2021: GARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN 2021 401k membership
Total participants, beginning-of-year2021-05-0129
Total number of active participants reported on line 7a of the Form 55002021-05-0128
Number of retired or separated participants receiving benefits2021-05-010
Number of other retired or separated participants entitled to future benefits2021-05-010
Total of all active and inactive participants2021-05-0128
2020: GARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN 2020 401k membership
Total participants, beginning-of-year2020-05-0131
Total number of active participants reported on line 7a of the Form 55002020-05-0129
Number of retired or separated participants receiving benefits2020-05-010
Number of other retired or separated participants entitled to future benefits2020-05-010
Total of all active and inactive participants2020-05-0129

Financial Data on GARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN

Measure Date Value
2024 : GARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN 2024 401k financial data
Total plan liabilities at end of year2024-04-30$15,919
Total plan liabilities at beginning of year2024-04-30$16,097
Total income from all sources2024-04-30$393,014
Expenses. Total of all expenses incurred2024-04-30$424,701
Benefits paid (including direct rollovers)2024-04-30$246,829
Total plan assets at end of year2024-04-30$139,169
Total plan assets at beginning of year2024-04-30$171,034
Value of fidelity bond covering the plan2024-04-30$25,000
Total contributions received or receivable from participants2024-04-30$0
Expenses. Other expenses not covered elsewhere2024-04-30$175,250
Contributions received from other sources (not participants or employers)2024-04-30$5,827
Other income received2024-04-30$5,275
Net income (gross income less expenses)2024-04-30$-31,687
Net plan assets at end of year (total assets less liabilities)2024-04-30$123,250
Net plan assets at beginning of year (total assets less liabilities)2024-04-30$154,937
Total contributions received or receivable from employer(s)2024-04-30$381,912
Value of corrective distributions2024-04-30$0
Expenses. Administrative service providers (salaries,fees and commissions)2024-04-30$2,622
2023 : GARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN 2023 401k financial data
Total plan liabilities at end of year2023-04-30$16,097
Total plan liabilities at beginning of year2023-04-30$12,660
Total income from all sources2023-04-30$350,168
Expenses. Total of all expenses incurred2023-04-30$229,275
Benefits paid (including direct rollovers)2023-04-30$80,431
Total plan assets at end of year2023-04-30$171,034
Total plan assets at beginning of year2023-04-30$46,704
Value of fidelity bond covering the plan2023-04-30$25,000
Total contributions received or receivable from participants2023-04-30$0
Expenses. Other expenses not covered elsewhere2023-04-30$146,927
Contributions received from other sources (not participants or employers)2023-04-30$1,540
Other income received2023-04-30$596
Net income (gross income less expenses)2023-04-30$120,893
Net plan assets at end of year (total assets less liabilities)2023-04-30$154,937
Net plan assets at beginning of year (total assets less liabilities)2023-04-30$34,044
Total contributions received or receivable from employer(s)2023-04-30$348,032
Value of corrective distributions2023-04-30$0
Expenses. Administrative service providers (salaries,fees and commissions)2023-04-30$1,917
2022 : GARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN 2022 401k financial data
Total plan liabilities at end of year2022-04-30$12,660
Total plan liabilities at beginning of year2022-04-30$15,232
Total income from all sources2022-04-30$317,228
Expenses. Total of all expenses incurred2022-04-30$282,748
Benefits paid (including direct rollovers)2022-04-30$146,970
Total plan assets at end of year2022-04-30$46,704
Total plan assets at beginning of year2022-04-30$14,796
Value of fidelity bond covering the plan2022-04-30$25,000
Expenses. Other expenses not covered elsewhere2022-04-30$131,076
Other income received2022-04-30$141
Net income (gross income less expenses)2022-04-30$34,480
Net plan assets at end of year (total assets less liabilities)2022-04-30$34,044
Net plan assets at beginning of year (total assets less liabilities)2022-04-30$-436
Total contributions received or receivable from employer(s)2022-04-30$317,087
Expenses. Administrative service providers (salaries,fees and commissions)2022-04-30$4,702
2021 : GARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN 2021 401k financial data
Total plan liabilities at end of year2021-04-30$15,232
Total plan liabilities at beginning of year2021-04-30$0
Total income from all sources2021-04-30$293,621
Expenses. Total of all expenses incurred2021-04-30$294,057
Benefits paid (including direct rollovers)2021-04-30$167,509
Total plan assets at end of year2021-04-30$14,796
Total plan assets at beginning of year2021-04-30$0
Value of fidelity bond covering the plan2021-04-30$25,000
Total contributions received or receivable from participants2021-04-30$0
Expenses. Other expenses not covered elsewhere2021-04-30$118,291
Contributions received from other sources (not participants or employers)2021-04-30$0
Other income received2021-04-30$62
Net income (gross income less expenses)2021-04-30$-436
Net plan assets at end of year (total assets less liabilities)2021-04-30$-436
Net plan assets at beginning of year (total assets less liabilities)2021-04-30$0
Total contributions received or receivable from employer(s)2021-04-30$293,559
Value of corrective distributions2021-04-30$0
Expenses. Administrative service providers (salaries,fees and commissions)2021-04-30$8,257

Form 5500 Responses for GARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN

2023: GARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN 2023 form 5500 responses
2023-05-01Type of plan entitySingle employer plan
2023-05-01Submission has been amendedNo
2023-05-01This submission is the final filingNo
2023-05-01This return/report is a short plan year return/report (less than 12 months)No
2023-05-01Plan is a collectively bargained planNo
2023-05-01Plan funding arrangement – InsuranceYes
2023-05-01Plan funding arrangement – TrustYes
2023-05-01Plan funding arrangement – General assets of the sponsorYes
2023-05-01Plan benefit arrangement – InsuranceYes
2023-05-01Plan benefit arrangement - TrustYes
2023-05-01Plan benefit arrangement – General assets of the sponsorYes
2022: GARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN 2022 form 5500 responses
2022-05-01Type of plan entitySingle employer plan
2022-05-01Submission has been amendedNo
2022-05-01This submission is the final filingNo
2022-05-01This return/report is a short plan year return/report (less than 12 months)No
2022-05-01Plan is a collectively bargained planNo
2022-05-01Plan funding arrangement – InsuranceYes
2022-05-01Plan funding arrangement – TrustYes
2022-05-01Plan funding arrangement – General assets of the sponsorYes
2022-05-01Plan benefit arrangement – InsuranceYes
2022-05-01Plan benefit arrangement - TrustYes
2022-05-01Plan benefit arrangement – General assets of the sponsorYes
2021: GARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN 2021 form 5500 responses
2021-05-01Type of plan entitySingle employer plan
2021-05-01Submission has been amendedNo
2021-05-01This submission is the final filingNo
2021-05-01This return/report is a short plan year return/report (less than 12 months)No
2021-05-01Plan is a collectively bargained planNo
2021-05-01Plan funding arrangement – InsuranceYes
2021-05-01Plan funding arrangement – TrustYes
2021-05-01Plan benefit arrangement – InsuranceYes
2021-05-01Plan benefit arrangement - TrustYes
2020: GARDEN SPOT ELECTRIC, INC. EMPLOYEE BENEFIT PLAN 2020 form 5500 responses
2020-05-01Type of plan entitySingle employer plan
2020-05-01First time form 5500 has been submittedYes
2020-05-01Submission has been amendedNo
2020-05-01This submission is the final filingNo
2020-05-01This return/report is a short plan year return/report (less than 12 months)No
2020-05-01Plan is a collectively bargained planNo
2020-05-01Plan funding arrangement – InsuranceYes
2020-05-01Plan funding arrangement – TrustYes
2020-05-01Plan benefit arrangement – InsuranceYes
2020-05-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

EVEREST REINSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 26921 )
Policy contract number31000119
Policy instance 1
Insurance contract or identification number31000119
Number of Individuals Covered35
Insurance policy start date2023-05-01
Insurance policy end date2023-06-30
Are there contracts with allocated funds for individual policies?0
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?No
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Welfare Benefit Premiums Paid to CarrierUSD $21,806
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
HM LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 93440 )
Policy contract number408669-A
Policy instance 2
Insurance contract or identification number408669-A
Number of Individuals Covered31
Insurance policy start date2023-07-01
Insurance policy end date2024-04-30
Are there contracts with allocated funds for individual policies?0
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?No
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Welfare Benefit Premiums Paid to CarrierUSD $131,731
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
EVEREST REINSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 26921 )
Policy contract number31000119
Policy instance 1
Insurance contract or identification number31000119
Number of Individuals Covered31
Insurance policy start date2022-05-01
Insurance policy end date2023-04-30
Are there contracts with allocated funds for individual policies?0
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?No
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Welfare Benefit Premiums Paid to CarrierUSD $126,558
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
EVEREST REINSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 26921 )
Policy contract number31000119
Policy instance 1
Insurance contract or identification number31000119
Number of Individuals Covered28
Insurance policy start date2021-05-01
Insurance policy end date2022-04-30
Are there contracts with allocated funds for individual policies?0
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?No
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Welfare Benefit Premiums Paid to CarrierUSD $111,198
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
EVEREST REINSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 26921 )
Policy contract number31000119
Policy instance 1
Insurance contract or identification number31000119
Number of Individuals Covered29
Insurance policy start date2020-05-01
Insurance policy end date2021-04-30
Are there contracts with allocated funds for individual policies?0
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?No
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Welfare Benefit Premiums Paid to CarrierUSD $99,116
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No

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