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PALM BEACH TIRE INC 401 (K) PROFIT SHARING PLAN & TR 401k Plan overview

Plan NamePALM BEACH TIRE INC 401 (K) PROFIT SHARING PLAN & TR
Plan identification number 001

PALM BEACH TIRE INC 401 (K) PROFIT SHARING PLAN & TR 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.
  • 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.
  • 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.
  • Prototype plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion or notification letter; and under which a seperate funding medium (for example, a seperate trust or custodial account) is established for the use of each adopting employer.

401k Sponsoring company profile

PALM BEACH TIRE, INC. has sponsored the creation of one or more 401k plans.

Company Name:PALM BEACH TIRE, INC.
Employer identification number (EIN):650398863
NAIC Classification:441300
NAIC Description: Automotive Parts, Accessories, and Tire Stores

Additional information about PALM BEACH TIRE, INC.

Jurisdiction of Incorporation: Florida Department of State Division of Corporations
Incorporation Date: 1993-03-08
Company Identification Number: P93000017171
Legal Registered Office Address: 4700 NW BOCA RATON BLVD

BORA RATON

33431

More information about PALM BEACH TIRE, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PALM BEACH TIRE INC 401 (K) PROFIT SHARING PLAN & TR

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012014-01-01THOMAS DERINGER2015-06-23
0012008-01-01THOMAS DERINGER

Plan Statistics for PALM BEACH TIRE INC 401 (K) PROFIT SHARING PLAN & TR

401k plan membership statisitcs for PALM BEACH TIRE INC 401 (K) PROFIT SHARING PLAN & TR

Measure Date Value
2008: PALM BEACH TIRE INC 401 (K) PROFIT SHARING PLAN & TR 2008 401k membership
Total participants, beginning-of-year2008-01-019
Total number of active participants reported on line 7a of the Form 55002008-01-010
Number of retired or separated participants receiving benefits2008-01-010
Number of other retired or separated participants entitled to future benefits2008-01-010
Total of all active and inactive participants2008-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2008-01-010
Total participants2008-01-010
Number of participants with account balances2008-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2008-01-010

Financial Data on PALM BEACH TIRE INC 401 (K) PROFIT SHARING PLAN & TR

Measure Date Value
2008 : PALM BEACH TIRE INC 401 (K) PROFIT SHARING PLAN & TR 2008 401k financial data
Transfers to/from the plan2008-12-31$241,164
Total plan liabilities at end of year2008-12-31$0
Total plan liabilities at beginning of year2008-12-31$0
Total income from all sources2008-12-31$-1,070
Expenses. Total of all expenses incurred2008-12-31$29,797
Benefits paid (including direct rollovers)2008-12-31$29,797
Total plan assets at end of year2008-12-31$0
Total plan assets at beginning of year2008-12-31$272,031
Value of fidelity bond covering the plan2008-12-31$120,000
Total contributions received or receivable from participants2008-12-31$0
Contributions received from other sources (not participants or employers)2008-12-31$0
Other income received2008-12-31$-1,070
Noncash contributions received2008-12-31$0
Net income (gross income less expenses)2008-12-31$-30,867
Net plan assets at end of year (total assets less liabilities)2008-12-31$0
Net plan assets at beginning of year (total assets less liabilities)2008-12-31$272,031
Total contributions received or receivable from employer(s)2008-12-31$0

Form 5500 Responses for PALM BEACH TIRE INC 401 (K) PROFIT SHARING PLAN & TR

2008: PALM BEACH TIRE INC 401 (K) PROFIT SHARING PLAN & TR 2008 form 5500 responses
2008-01-01Type of plan entitySingle employer plan
2008-01-01Submission has been amendedNo
2008-01-01This submission is the final filingYes
2008-01-01This return/report is a short plan year return/report (less than 12 months)No
2008-01-01Plan is a collectively bargained planNo
2008-01-01Plan funding arrangement – TrustYes
2008-01-01Plan benefit arrangement - TrustYes

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