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THE EDUCATION CENTER, INC. EMPLOYEE SAVINGS PLAN 401k Plan overview

Plan NameTHE EDUCATION CENTER, INC. EMPLOYEE SAVINGS PLAN
Plan identification number 001

THE EDUCATION CENTER, INC. EMPLOYEE SAVINGS 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

THE EDUCATION CENTER, INC has sponsored the creation of one or more 401k plans.

Company Name:THE EDUCATION CENTER, INC
Employer identification number (EIN):561839795
NAIC Classification:511120
NAIC Description:Periodical Publishers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE EDUCATION CENTER, INC. EMPLOYEE SAVINGS PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012011-01-01KATHARINE BROWER
0012009-01-01KATHARINE BROWER

Plan Statistics for THE EDUCATION CENTER, INC. EMPLOYEE SAVINGS PLAN

401k plan membership statisitcs for THE EDUCATION CENTER, INC. EMPLOYEE SAVINGS PLAN

Measure Date Value
2011: THE EDUCATION CENTER, INC. EMPLOYEE SAVINGS PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-01101
Total number of active participants reported on line 7a of the Form 55002011-01-0171
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-0125
Total of all active and inactive participants2011-01-0196
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-0196
Number of participants with account balances2011-01-0186
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-011
2009: THE EDUCATION CENTER, INC. EMPLOYEE SAVINGS PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-01125
Total number of active participants reported on line 7a of the Form 55002009-01-0175
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-0132
Total of all active and inactive participants2009-01-01107
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-01107
Number of participants with account balances2009-01-0193
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-014

Financial Data on THE EDUCATION CENTER, INC. EMPLOYEE SAVINGS PLAN

Measure Date Value
2011 : THE EDUCATION CENTER, INC. EMPLOYEE SAVINGS PLAN 2011 401k financial data
Total unrealized appreciation/depreciation of assets2011-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$0
Total income from all sources (including contributions)2011-12-31$188,165
Total loss/gain on sale of assets2011-12-31$0
Total of all expenses incurred2011-12-31$611,040
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2011-12-31$582,401
Total contributions o plan (from employers,participants, others, non cash contrinutions)2011-12-31$268,488
Value of total assets at end of year2011-12-31$4,027,421
Value of total assets at beginning of year2011-12-31$4,450,296
Total of administrative expenses incurred including professional, contract, advisory and management fees2011-12-31$28,639
Total interest from all sources2011-12-31$2,477
Total dividends received (eg from common stock, registered investment company shares)2011-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2011-12-31No
Administrative expenses professional fees incurred2011-12-31$7,003
Was this plan covered by a fidelity bond2011-12-31Yes
Value of fidelity bond cover2011-12-31$500,000
If this is an individual account plan, was there a blackout period2011-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
Were there any nonexempt tranactions with any party-in-interest2011-12-31No
Contributions received from participants2011-12-31$212,138
Participant contributions at end of year2011-12-31$38,136
Participant contributions at beginning of year2011-12-31$50,710
Participant contributions at end of year2011-12-31$6,973
Income. Received or receivable in cash from other sources (including rollovers)2011-12-31$251
Value of other receiveables (less allowance for doubtful accounts) at end of year2011-12-31$164
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2011-12-31$79
Other income not declared elsewhere2011-12-31$8,152
Total non interest bearing cash at end of year2011-12-31$1
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Value of net income/loss2011-12-31$-422,875
Value of net assets at end of year (total assets less liabilities)2011-12-31$4,027,421
Value of net assets at beginning of year (total assets less liabilities)2011-12-31$4,450,296
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2011-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2011-12-31No
Were any leases to which the plan was party in default or uncollectible2011-12-31No
Investment advisory and management fees2011-12-31$21,636
Value of interest in registered invesment companies (eg mutual funds) at end of year2011-12-31$3,454,693
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2011-12-31$3,804,705
Interest on participant loans2011-12-31$2,418
Value of interest in common/collective trusts at end of year2011-12-31$404,599
Value of interest in common/collective trusts at beginning of year2011-12-31$498,183
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2011-12-31$121,899
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2011-12-31$96,619
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2011-12-31$96,619
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2011-12-31$59
Net investment gain/loss from registered investment companies (e.g. mutual funds)2011-12-31$-99,575
Net investment gain or loss from common/collective trusts2011-12-31$8,623
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2011-12-31No
Was there a failure to transmit to the plan any participant contributions2011-12-31No
Has the plan failed to provide any benefit when due under the plan2011-12-31No
Contributions received in cash from employer2011-12-31$56,099
Employer contributions (assets) at end of year2011-12-31$956
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2011-12-31$582,401
Did the plan have assets held for investment2011-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2011-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2011-12-31Yes
Opinion of an independent qualified public accountant for this plan2011-12-31Disclaimer
Accountancy firm name2011-12-31HAYNES, STRAND AND COMPANY PLLC
Accountancy firm EIN2011-12-31561582677
2010 : THE EDUCATION CENTER, INC. EMPLOYEE SAVINGS PLAN 2010 401k financial data
Total unrealized appreciation/depreciation of assets2010-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$0
Total income from all sources (including contributions)2010-12-31$772,966
Total loss/gain on sale of assets2010-12-31$0
Total of all expenses incurred2010-12-31$410,813
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2010-12-31$375,289
Value of total corrective distributions2010-12-31$8,478
Total contributions o plan (from employers,participants, others, non cash contrinutions)2010-12-31$263,643
Value of total assets at end of year2010-12-31$4,450,296
Value of total assets at beginning of year2010-12-31$4,088,143
Total of administrative expenses incurred including professional, contract, advisory and management fees2010-12-31$27,046
Total interest from all sources2010-12-31$2,982
Total dividends received (eg from common stock, registered investment company shares)2010-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2010-12-31No
Was this plan covered by a fidelity bond2010-12-31Yes
Value of fidelity bond cover2010-12-31$500,000
If this is an individual account plan, was there a blackout period2010-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
Were there any nonexempt tranactions with any party-in-interest2010-12-31No
Contributions received from participants2010-12-31$198,865
Participant contributions at end of year2010-12-31$50,710
Participant contributions at beginning of year2010-12-31$45,628
Income. Received or receivable in cash from other sources (including rollovers)2010-12-31$6,898
Value of other receiveables (less allowance for doubtful accounts) at end of year2010-12-31$79
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2010-12-31$19
Other income not declared elsewhere2010-12-31$6,151
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Value of net income/loss2010-12-31$362,153
Value of net assets at end of year (total assets less liabilities)2010-12-31$4,450,296
Value of net assets at beginning of year (total assets less liabilities)2010-12-31$4,088,143
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2010-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2010-12-31No
Were any leases to which the plan was party in default or uncollectible2010-12-31No
Investment advisory and management fees2010-12-31$20,274
Value of interest in registered invesment companies (eg mutual funds) at end of year2010-12-31$3,804,705
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2010-12-31$3,471,351
Interest on participant loans2010-12-31$2,873
Value of interest in common/collective trusts at end of year2010-12-31$498,183
Value of interest in common/collective trusts at beginning of year2010-12-31$267,750
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2010-12-31$96,619
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2010-12-31$303,395
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2010-12-31$303,395
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2010-12-31$109
Net investment gain/loss from registered investment companies (e.g. mutual funds)2010-12-31$489,638
Net investment gain or loss from common/collective trusts2010-12-31$10,552
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2010-12-31No
Was there a failure to transmit to the plan any participant contributions2010-12-31No
Has the plan failed to provide any benefit when due under the plan2010-12-31No
Contributions received in cash from employer2010-12-31$57,880
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2010-12-31$375,289
Contract administrator fees2010-12-31$6,772
Did the plan have assets held for investment2010-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2010-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2010-12-31Yes
Opinion of an independent qualified public accountant for this plan2010-12-31Disclaimer
Accountancy firm name2010-12-31HAYNES, STRAND AND COMPANY PLLC
Accountancy firm EIN2010-12-31561582677

Form 5500 Responses for THE EDUCATION CENTER, INC. EMPLOYEE SAVINGS PLAN

2011: THE EDUCATION CENTER, INC. EMPLOYEE SAVINGS 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
2009: THE EDUCATION CENTER, INC. EMPLOYEE SAVINGS 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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