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NEW ENGLAND CLIPS INC. RETIREMENT PLAN 401k Plan overview

Plan NameNEW ENGLAND CLIPS INC. RETIREMENT PLAN
Plan identification number 001

NEW ENGLAND CLIPS INC. RETIREMENT PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • 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.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • 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

NEW ENGLAND CLIPS INC. has sponsored the creation of one or more 401k plans.

Company Name:NEW ENGLAND CLIPS INC.
Employer identification number (EIN):461174033
NAIC Classification:812111
NAIC Description:Barber Shops

Form 5500 Filing Information

Submission information for form 5500 for 401k plan NEW ENGLAND CLIPS INC. RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012019-01-01
0012018-01-01SHAWN WHITNEY
0012017-01-01SHAWN WHITNEY
0012016-01-01SHAWN WHITNEY
0012015-01-01SHAWN WHITNEY
0012014-01-01SHAWN WHITNEY
0012013-01-01SHAWN WHITNEY
0012012-10-11SHAWN R. WHITNEY

Plan Statistics for NEW ENGLAND CLIPS INC. RETIREMENT PLAN

401k plan membership statisitcs for NEW ENGLAND CLIPS INC. RETIREMENT PLAN

Measure Date Value
2019: NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-015
Total number of active participants reported on line 7a of the Form 55002019-01-012
Total of all active and inactive participants2019-01-012
Total participants2019-01-012
Number of participants with account balances2019-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-016
Total number of active participants reported on line 7a of the Form 55002018-01-015
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-010
Total of all active and inactive participants2018-01-015
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-015
Number of participants with account balances2018-01-012
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010
2017: NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-015
Total number of active participants reported on line 7a of the Form 55002017-01-016
Number of retired or separated participants receiving benefits2017-01-010
Number of other retired or separated participants entitled to future benefits2017-01-010
Total of all active and inactive participants2017-01-016
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-016
Number of participants with account balances2017-01-012
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-010
2016: NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2016 401k membership
Total participants, beginning-of-year2016-01-015
Total number of active participants reported on line 7a of the Form 55002016-01-014
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-010
Total of all active and inactive participants2016-01-014
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-014
Number of participants with account balances2016-01-012
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-010
2015: NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-012
Total number of active participants reported on line 7a of the Form 55002015-01-012
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-010
Total of all active and inactive participants2015-01-012
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-012
Number of participants with account balances2015-01-012
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-010
2014: NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-012
Total number of active participants reported on line 7a of the Form 55002014-01-012
Number of retired or separated participants receiving benefits2014-01-010
Number of other retired or separated participants entitled to future benefits2014-01-010
Total of all active and inactive participants2014-01-012
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-012
Number of participants with account balances2014-01-012
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-010
2013: NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2013 401k membership
Total participants, beginning-of-year2013-01-012
Total number of active participants reported on line 7a of the Form 55002013-01-012
Number of retired or separated participants receiving benefits2013-01-010
Number of other retired or separated participants entitled to future benefits2013-01-010
Total of all active and inactive participants2013-01-012
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-010
Total participants2013-01-012
Number of participants with account balances2013-01-012
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-010
2012: NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2012 401k membership
Total participants, beginning-of-year2012-10-112
Total number of active participants reported on line 7a of the Form 55002012-10-112
Number of retired or separated participants receiving benefits2012-10-110
Number of other retired or separated participants entitled to future benefits2012-10-110
Total of all active and inactive participants2012-10-112
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-10-110
Total participants2012-10-112
Number of participants with account balances2012-10-112
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-10-110

Financial Data on NEW ENGLAND CLIPS INC. RETIREMENT PLAN

Measure Date Value
2019 : NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2019 401k financial data
Total plan liabilities at end of year2019-12-31$0
Total plan liabilities at beginning of year2019-12-31$0
Total income from all sources2019-12-31$0
Expenses. Total of all expenses incurred2019-12-31$0
Benefits paid (including direct rollovers)2019-12-31$0
Total plan assets at end of year2019-12-31$0
Total plan assets at beginning of year2019-12-31$0
Value of fidelity bond covering the plan2019-12-31$20,000
Total contributions received or receivable from participants2019-12-31$0
Expenses. Other expenses not covered elsewhere2019-12-31$0
Contributions received from other sources (not participants or employers)2019-12-31$0
Other income received2019-12-31$0
Noncash contributions received2019-12-31$0
Net income (gross income less expenses)2019-12-31$0
Net plan assets at end of year (total assets less liabilities)2019-12-31$0
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$0
Assets. Value of employer securities2019-12-31$0
Total contributions received or receivable from employer(s)2019-12-31$0
Value of certain deemed distributions of participant loans2019-12-31$0
Value of corrective distributions2019-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$0
2018 : NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2018 401k financial data
Total income from all sources2018-12-31$-10,370
Expenses. Total of all expenses incurred2018-12-31$0
Benefits paid (including direct rollovers)2018-12-31$0
Total plan assets at end of year2018-12-31$0
Total plan assets at beginning of year2018-12-31$10,370
Value of fidelity bond covering the plan2018-12-31$20,000
Total contributions received or receivable from participants2018-12-31$0
Contributions received from other sources (not participants or employers)2018-12-31$0
Other income received2018-12-31$-10,370
Net income (gross income less expenses)2018-12-31$-10,370
Net plan assets at end of year (total assets less liabilities)2018-12-31$0
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$10,370
Assets. Value of employer securities2018-12-31$0
Total contributions received or receivable from employer(s)2018-12-31$0
Value of certain deemed distributions of participant loans2018-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$0
2017 : NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2017 401k financial data
Total income from all sources2017-12-31$-47,130
Expenses. Total of all expenses incurred2017-12-31$0
Benefits paid (including direct rollovers)2017-12-31$0
Total plan assets at end of year2017-12-31$10,370
Total plan assets at beginning of year2017-12-31$57,500
Value of fidelity bond covering the plan2017-12-31$20,000
Total contributions received or receivable from participants2017-12-31$0
Contributions received from other sources (not participants or employers)2017-12-31$0
Other income received2017-12-31$-47,130
Net income (gross income less expenses)2017-12-31$-47,130
Net plan assets at end of year (total assets less liabilities)2017-12-31$10,370
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$57,500
Assets. Value of employer securities2017-12-31$10,370
Total contributions received or receivable from employer(s)2017-12-31$0
Value of certain deemed distributions of participant loans2017-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$0
2016 : NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2016 401k financial data
Total income from all sources2016-12-31$-56,250
Expenses. Total of all expenses incurred2016-12-31$0
Benefits paid (including direct rollovers)2016-12-31$0
Total plan assets at end of year2016-12-31$57,500
Total plan assets at beginning of year2016-12-31$113,750
Value of fidelity bond covering the plan2016-12-31$20,000
Total contributions received or receivable from participants2016-12-31$0
Contributions received from other sources (not participants or employers)2016-12-31$0
Other income received2016-12-31$-56,250
Net income (gross income less expenses)2016-12-31$-56,250
Net plan assets at end of year (total assets less liabilities)2016-12-31$57,500
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$113,750
Assets. Value of employer securities2016-12-31$57,500
Total contributions received or receivable from employer(s)2016-12-31$0
Value of certain deemed distributions of participant loans2016-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2016-12-31$0
2015 : NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2015 401k financial data
Total income from all sources2015-12-31$-82,143
Expenses. Total of all expenses incurred2015-12-31$0
Benefits paid (including direct rollovers)2015-12-31$0
Total plan assets at end of year2015-12-31$113,750
Total plan assets at beginning of year2015-12-31$195,893
Value of fidelity bond covering the plan2015-12-31$20,000
Total contributions received or receivable from participants2015-12-31$0
Contributions received from other sources (not participants or employers)2015-12-31$19,975
Other income received2015-12-31$-102,118
Net income (gross income less expenses)2015-12-31$-82,143
Net plan assets at end of year (total assets less liabilities)2015-12-31$113,750
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$195,893
Assets. Value of employer securities2015-12-31$113,750
Total contributions received or receivable from employer(s)2015-12-31$0
Value of certain deemed distributions of participant loans2015-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2015-12-31$0
2014 : NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2014 401k financial data
Total income from all sources2014-12-31$5,897
Expenses. Total of all expenses incurred2014-12-31$0
Benefits paid (including direct rollovers)2014-12-31$0
Total plan assets at end of year2014-12-31$195,893
Total plan assets at beginning of year2014-12-31$189,996
Value of fidelity bond covering the plan2014-12-31$20,000
Total contributions received or receivable from participants2014-12-31$0
Contributions received from other sources (not participants or employers)2014-12-31$0
Other income received2014-12-31$5,897
Net income (gross income less expenses)2014-12-31$5,897
Net plan assets at end of year (total assets less liabilities)2014-12-31$195,893
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$189,996
Assets. Value of employer securities2014-12-31$195,893
Total contributions received or receivable from employer(s)2014-12-31$0
Value of certain deemed distributions of participant loans2014-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2014-12-31$0
2013 : NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2013 401k financial data
Total income from all sources2013-12-31$-14,004
Expenses. Total of all expenses incurred2013-12-31$0
Benefits paid (including direct rollovers)2013-12-31$0
Total plan assets at end of year2013-12-31$189,996
Total plan assets at beginning of year2013-12-31$204,000
Total contributions received or receivable from participants2013-12-31$0
Contributions received from other sources (not participants or employers)2013-12-31$0
Other income received2013-12-31$-14,004
Net income (gross income less expenses)2013-12-31$-14,004
Net plan assets at end of year (total assets less liabilities)2013-12-31$189,996
Net plan assets at beginning of year (total assets less liabilities)2013-12-31$204,000
Assets. Value of employer securities2013-12-31$189,996
Total contributions received or receivable from employer(s)2013-12-31$0
Value of certain deemed distributions of participant loans2013-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2013-12-31$0
2012 : NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2012 401k financial data
Total income from all sources2012-12-31$204,050
Expenses. Total of all expenses incurred2012-12-31$50
Benefits paid (including direct rollovers)2012-12-31$0
Total plan assets at end of year2012-12-31$204,000
Total plan assets at beginning of year2012-12-31$0
Total contributions received or receivable from participants2012-12-31$0
Contributions received from other sources (not participants or employers)2012-12-31$155,726
Other income received2012-12-31$48,324
Net income (gross income less expenses)2012-12-31$204,000
Net plan assets at end of year (total assets less liabilities)2012-12-31$204,000
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$0
Assets. Value of employer securities2012-12-31$204,000
Total contributions received or receivable from employer(s)2012-12-31$0
Value of certain deemed distributions of participant loans2012-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2012-12-31$50

Form 5500 Responses for NEW ENGLAND CLIPS INC. RETIREMENT PLAN

2019: NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes
2015: NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes
2014: NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement - TrustYes
2013: NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement - TrustYes
2012: NEW ENGLAND CLIPS INC. RETIREMENT PLAN 2012 form 5500 responses
2012-10-11Type of plan entitySingle employer plan
2012-10-11First time form 5500 has been submittedYes
2012-10-11This return/report is a short plan year return/report (less than 12 months)Yes
2012-10-11Plan funding arrangement – TrustYes
2012-10-11Plan benefit arrangement - TrustYes

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