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NEXT GENERATION CORPORATION 401(K) PLAN 401k Plan overview

Plan NameNEXT GENERATION CORPORATION 401(K) PLAN
Plan identification number 001

NEXT GENERATION CORPORATION 401(K) 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.
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

NEXT GENERATION CORPORATION has sponsored the creation of one or more 401k plans.

Company Name:NEXT GENERATION CORPORATION
Employer identification number (EIN):882377308
NAIC Classification:722515
NAIC Description:Snack and Nonalcoholic Beverage Bars

Form 5500 Filing Information

Submission information for form 5500 for 401k plan NEXT GENERATION CORPORATION 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01
0012022-05-13

Plan Statistics for NEXT GENERATION CORPORATION 401(K) PLAN

401k plan membership statisitcs for NEXT GENERATION CORPORATION 401(K) PLAN

Measure Date Value
2023: NEXT GENERATION CORPORATION 401(K) PLAN 2023 401k membership
Total participants, beginning-of-year2023-01-010
Total number of active participants reported on line 7a of the Form 55002023-01-012
Number of retired or separated participants receiving benefits2023-01-010
Number of other retired or separated participants entitled to future benefits2023-01-010
Total of all active and inactive participants2023-01-012
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2023-01-010
Total participants2023-01-012
Number of participants with account balances2023-01-012
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2023-01-010
2022: NEXT GENERATION CORPORATION 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year2022-05-130
Total number of active participants reported on line 7a of the Form 55002022-05-130
Number of retired or separated participants receiving benefits2022-05-130
Number of other retired or separated participants entitled to future benefits2022-05-130
Total of all active and inactive participants2022-05-130
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-05-130
Total participants2022-05-130
Number of participants with account balances2022-05-130
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-05-130

Financial Data on NEXT GENERATION CORPORATION 401(K) PLAN

Measure Date Value
2023 : NEXT GENERATION CORPORATION 401(K) PLAN 2023 401k financial data
Transfers to/from the plan2023-12-31$0
Total plan liabilities at beginning of year2023-12-31$0
Total income from all sources2023-12-31$27,887
Expenses. Total of all expenses incurred2023-12-31$0
Benefits paid (including direct rollovers)2023-12-31$0
Total plan assets at end of year2023-12-31$27,887
Total plan assets at beginning of year2023-12-31$0
Value of fidelity bond covering the plan2023-12-31$10,000
Total contributions received or receivable from participants2023-12-31$0
Expenses. Other expenses not covered elsewhere2023-12-31$0
Contributions received from other sources (not participants or employers)2023-12-31$0
Other income received2023-12-31$27,887
Noncash contributions received2023-12-31$0
Net income (gross income less expenses)2023-12-31$27,887
Net plan assets at end of year (total assets less liabilities)2023-12-31$27,887
Net plan assets at beginning of year (total assets less liabilities)2023-12-31$0
Assets. Value of employer securities2023-12-31$27,887
Total contributions received or receivable from employer(s)2023-12-31$0
Value of certain deemed distributions of participant loans2023-12-31$0
Value of corrective distributions2023-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2023-12-31$0
2022 : NEXT GENERATION CORPORATION 401(K) PLAN 2022 401k financial data
Transfers to/from the plan2022-12-31$0
Total plan liabilities at beginning of year2022-12-31$0
Total income from all sources2022-12-31$1
Expenses. Total of all expenses incurred2022-12-31$1
Benefits paid (including direct rollovers)2022-12-31$0
Total plan assets at end of year2022-12-31$0
Total plan assets at beginning of year2022-12-31$0
Value of fidelity bond covering the plan2022-12-31$10,000
Total contributions received or receivable from participants2022-12-31$0
Expenses. Other expenses not covered elsewhere2022-12-31$1
Contributions received from other sources (not participants or employers)2022-12-31$94,722
Other income received2022-12-31$-94,721
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$0
Net plan assets at end of year (total assets less liabilities)2022-12-31$0
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$0
Assets. Value of employer securities2022-12-31$0
Total contributions received or receivable from employer(s)2022-12-31$0
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$0

Form 5500 Responses for NEXT GENERATION CORPORATION 401(K) PLAN

2023: NEXT GENERATION CORPORATION 401(K) PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01Submission has been amendedNo
2023-01-01This submission is the final filingNo
2023-01-01This return/report is a short plan year return/report (less than 12 months)No
2023-01-01Plan is a collectively bargained planNo
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement - TrustYes
2022: NEXT GENERATION CORPORATION 401(K) PLAN 2022 form 5500 responses
2022-05-13Type of plan entitySingle employer plan
2022-05-13First time form 5500 has been submittedYes
2022-05-13Submission has been amendedNo
2022-05-13This submission is the final filingNo
2022-05-13This return/report is a short plan year return/report (less than 12 months)Yes
2022-05-13Plan is a collectively bargained planNo
2022-05-13Plan funding arrangement – TrustYes
2022-05-13Plan benefit arrangement - TrustYes

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