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SOUTH CENTRAL STATE BANK 401K PROFIT SHARING PLAN 401k Plan overview

Plan NameSOUTH CENTRAL STATE BANK 401K PROFIT SHARING PLAN
Plan identification number 001

SOUTH CENTRAL STATE BANK 401K PROFIT SHARING 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.
  • 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

SOUTH CENTRAL STATE BANK has sponsored the creation of one or more 401k plans.

Company Name:SOUTH CENTRAL STATE BANK
Employer identification number (EIN):470364892
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SOUTH CENTRAL STATE BANK 401K PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01JAMIE KOSSE2024-07-16 JAMIE KOSSE2024-07-16
0012022-01-01JAMIE KOSSE2023-07-27 JAMIE KOSSE2023-07-27
0012021-01-01JERRY SCHAEFER2022-06-21 JERRY SCHAEFER2022-06-21
0012020-01-01JERRY SCHAEFER2021-06-01 JERRY SCHAEFER2021-06-01
0012019-01-01JERRY SCHAEFER2020-06-11 JERRY SCHAEFER2020-06-11
0012018-01-01JERRY SCHAEFER2019-05-28 JERRY SCHAEFER2019-05-28
0012017-01-01JERRY SCHAEFER2018-05-22 JERRY SCHAEFER2018-05-22
0012016-01-01JERRY SCHAEFER2017-06-15 JERRY SCHAEFER2017-06-15
0012015-01-01JERRY SCHAEFER2016-06-17 JERRY SCHAEFER2016-06-17
0012014-01-01JERRY SCHAEFER2015-06-11 JERRY SCHAEFER2015-06-11
0012013-01-01JERRY SCHAEFER2014-05-29
0012012-01-01JERRY SCHAEFER2013-07-31 JERRY SCHAEFER2013-07-31
0012011-01-01JERRY SCHAEFER JERRY SCHAEFER2012-05-14
0012010-01-01JERRY SCHAEFER JERRY SCHAEFER2011-04-21
0012009-01-01JERRY SCHAEFER JERRY SCHAEFER2010-07-21

Plan Statistics for SOUTH CENTRAL STATE BANK 401K PROFIT SHARING PLAN

401k plan membership statisitcs for SOUTH CENTRAL STATE BANK 401K PROFIT SHARING PLAN

Measure Date Value
2011: SOUTH CENTRAL STATE BANK 401K PROFIT SHARING PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-0123
Total number of active participants reported on line 7a of the Form 55002011-01-0123
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-010
Total of all active and inactive participants2011-01-0123
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-0123
Number of participants with account balances2011-01-012
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-010
2010: SOUTH CENTRAL STATE BANK 401K PROFIT SHARING PLAN 2010 401k membership
Total participants, beginning-of-year2010-01-0125
Total number of active participants reported on line 7a of the Form 55002010-01-0123
Number of retired or separated participants receiving benefits2010-01-010
Number of other retired or separated participants entitled to future benefits2010-01-010
Total of all active and inactive participants2010-01-0123
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-010
Total participants2010-01-0123
Number of participants with account balances2010-01-0123
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-010
2009: SOUTH CENTRAL STATE BANK 401K PROFIT SHARING PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-0125
Total number of active participants reported on line 7a of the Form 55002009-01-0125
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-010
Total of all active and inactive participants2009-01-0125
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-0125
Number of participants with account balances2009-01-0125
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

Financial Data on SOUTH CENTRAL STATE BANK 401K PROFIT SHARING PLAN

Measure Date Value
2011 : SOUTH CENTRAL STATE BANK 401K PROFIT SHARING PLAN 2011 401k financial data
Total income from all sources2011-12-31$90,981
Expenses. Total of all expenses incurred2011-12-31$5,069
Benefits paid (including direct rollovers)2011-12-31$5,069
Total plan assets at end of year2011-12-31$841,857
Total plan assets at beginning of year2011-12-31$755,945
Value of fidelity bond covering the plan2011-12-31$2,050,000
Total contributions received or receivable from participants2011-12-31$75,072
Contributions received from other sources (not participants or employers)2011-12-31$80
Other income received2011-12-31$-25,253
Net income (gross income less expenses)2011-12-31$85,912
Net plan assets at end of year (total assets less liabilities)2011-12-31$841,857
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$755,945
Total contributions received or receivable from employer(s)2011-12-31$41,082
2010 : SOUTH CENTRAL STATE BANK 401K PROFIT SHARING PLAN 2010 401k financial data
Total income from all sources2010-12-31$199,310
Expenses. Total of all expenses incurred2010-12-31$22,818
Benefits paid (including direct rollovers)2010-12-31$22,818
Total plan assets at end of year2010-12-31$755,945
Total plan assets at beginning of year2010-12-31$579,453
Value of fidelity bond covering the plan2010-12-31$2,050,000
Total contributions received or receivable from participants2010-12-31$54,706
Other income received2010-12-31$103,778
Net income (gross income less expenses)2010-12-31$176,492
Net plan assets at end of year (total assets less liabilities)2010-12-31$755,945
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$579,453
Total contributions received or receivable from employer(s)2010-12-31$40,826

Form 5500 Responses for SOUTH CENTRAL STATE BANK 401K PROFIT SHARING PLAN

2011: SOUTH CENTRAL STATE BANK 401K PROFIT SHARING PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedNo
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes
2010: SOUTH CENTRAL STATE BANK 401K PROFIT SHARING PLAN 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedNo
2010-01-01This submission is the final filingNo
2010-01-01This return/report is a short plan year return/report (less than 12 months)No
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement - TrustYes
2009: SOUTH CENTRAL STATE BANK 401K PROFIT SHARING PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

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