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DAVID RADAY, INC. 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameDAVID RADAY, INC. 401(K) PROFIT SHARING PLAN
Plan identification number 001

DAVID RADAY, INC. 401(K) 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

DAVID RADAY, INC. has sponsored the creation of one or more 401k plans.

Company Name:DAVID RADAY, INC.
Employer identification number (EIN):832888565
NAIC Classification:525100
NAIC Description: Insurance and Employee Benefit Funds

Form 5500 Filing Information

Submission information for form 5500 for 401k plan DAVID RADAY, INC. 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01DAVID RADAY2024-08-14
0012022-01-01

Plan Statistics for DAVID RADAY, INC. 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for DAVID RADAY, INC. 401(K) PROFIT SHARING PLAN

Measure Date Value
2022: DAVID RADAY, INC. 401(K) PROFIT SHARING PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-016
Total number of active participants reported on line 7a of the Form 55002022-01-016
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-010
Total of all active and inactive participants2022-01-016
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-016
Number of participants with account balances2022-01-016
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010

Financial Data on DAVID RADAY, INC. 401(K) PROFIT SHARING PLAN

Measure Date Value
2022 : DAVID RADAY, INC. 401(K) PROFIT SHARING PLAN 2022 401k financial data
Transfers to/from the plan2022-12-31$0
Total plan liabilities at end of year2022-12-31$3,408
Total plan liabilities at beginning of year2022-12-31$0
Total income from all sources2022-12-31$217,940
Expenses. Total of all expenses incurred2022-12-31$1,210
Benefits paid (including direct rollovers)2022-12-31$0
Total plan assets at end of year2022-12-31$220,138
Total plan assets at beginning of year2022-12-31$0
Value of fidelity bond covering the plan2022-12-31$30,000
Total contributions received or receivable from participants2022-12-31$57,706
Expenses. Other expenses not covered elsewhere2022-12-31$0
Contributions received from other sources (not participants or employers)2022-12-31$166,915
Other income received2022-12-31$-23,224
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$216,730
Net plan assets at end of year (total assets less liabilities)2022-12-31$216,730
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$0
Assets. Value of participant loans2022-12-31$20,320
Total contributions received or receivable from employer(s)2022-12-31$16,543
Value of certain deemed distributions of participant loans2022-12-31$0
Value of corrective distributions2022-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$1,210

Form 5500 Responses for DAVID RADAY, INC. 401(K) PROFIT SHARING PLAN

2022: DAVID RADAY, INC. 401(K) PROFIT SHARING PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01First time form 5500 has been submittedYes
2022-01-01Submission has been amendedYes
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number154022
Policy instance 1
Insurance contract or identification number154022
Number of Individuals Covered6
Insurance policy start date2022-01-27
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $1,103
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?Yes
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
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Amount paid for insurance broker fees1103
Additional information about fees paid to insurance brokerADMINISTRATIVE
Insurance broker organization code?5

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