401k Plan data: SUMMIT FINANCIAL CONSULTANTS, INC. DEFINED BENEFIT PENSION PLAN plan

SUMMIT FINANCIAL CONSULTANTS, INC. DEFINED BENEFIT PENSION PLAN 401k Plan overview

Plan Name	SUMMIT FINANCIAL CONSULTANTS, INC. DEFINED BENEFIT PENSION PLAN
Plan identification number	001

SUMMIT FINANCIAL CONSULTANTS, INC. DEFINED BENEFIT PENSION PLAN Benefits

401k Plan Type

Defined Benefit Pension

Plan Features/Benefits

Benefits are primarily pay related
Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).
Plan covering Self-Employed individuals.
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.
Life insurance

401k Sponsoring company profile

SUMMIT FINANCIAL CONSULTANTS, INC. has sponsored the creation of one or more 401k plans.

Company Name: SUMMIT FINANCIAL CONSULTANTS, INC.

Employer identification number (EIN): 954020872

NAIC Classification: 524210
NAIC Description: Insurance Agencies and Brokerages

Additional information about SUMMIT FINANCIAL CONSULTANTS, INC.

Jurisdiction of Incorporation: New York Department of State

Incorporation Date: 1995-05-23

Company Identification Number: 1924756

Legal Registered Office Address: 35 E GRASSY SPRAIN ROAD / 406
Westchester
YONKERS
United States of America (USA)
10710

More information about SUMMIT FINANCIAL CONSULTANTS, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SUMMIT FINANCIAL CONSULTANTS, INC. DEFINED BENEFIT PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
001 2017-01-01 NEIL ELMOUCHI 2018-10-04
001 2016-01-01 NEIL ELMOUCHI 2017-10-05
001 2015-01-01 NEIL ELMOUCHI 2016-07-01
001 2014-01-01 NEIL ELMOUCHI 2015-10-08
001 2013-01-01 NEIL ELMOUCHI 2014-10-15
001 2012-01-01 NEIL ELMOUCHI 2013-10-03
001 2011-01-01 NEIL ELMOUCHI
001 2010-01-01 NEIL ELMOUCHI 2011-10-04

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed
001	2017-01-01	NEIL ELMOUCHI	2018-10-04
001	2016-01-01	NEIL ELMOUCHI	2017-10-05
001	2015-01-01	NEIL ELMOUCHI	2016-07-01
001	2014-01-01	NEIL ELMOUCHI	2015-10-08
001	2013-01-01	NEIL ELMOUCHI	2014-10-15
001	2012-01-01	NEIL ELMOUCHI	2013-10-03
001	2011-01-01	NEIL ELMOUCHI
001	2010-01-01	NEIL ELMOUCHI	2011-10-04

Plan Statistics for SUMMIT FINANCIAL CONSULTANTS, INC. DEFINED BENEFIT PENSION PLAN

401k plan membership statisitcs for SUMMIT FINANCIAL CONSULTANTS, INC. DEFINED BENEFIT PENSION PLAN

Measure Date Value
2017: SUMMIT FINANCIAL CONSULTANTS, INC. DEFINED BENEFIT PENSION PLAN 2017 401k membership
Market value of plan assets 2017-12-31 1,423,905
Acturial value of plan assets 2017-12-31 1,423,905
Funding target for retired participants and beneficiaries receiving payment 2017-12-31 0
Number of terminated vested participants 2017-12-31 0
Fundng target for terminated vested participants 2017-12-31 0
Active participant vested funding target 2017-12-31 1,072,774
Number of active participants 2017-12-31 3
Total funding liabilities for active participants 2017-12-31 1,072,774
Total participant count 2017-12-31 3
Total funding target for all participants 2017-12-31 1,072,774
Balance at beginning of prior year after applicable adjustments 2017-12-31 0
Prefunding balance at beginning of prior year after applicable adjustments 2017-12-31 614,663
Carryover balanced portion elected for use to offset prior years funding requirement 2017-12-31 0
Prefunding balanced used to offset prior years funding requirement 2017-12-31 378,344
Amount remaining of carryover balance 2017-12-31 0
Amount remaining of prefunding balance 2017-12-31 236,319
Present value of excess contributions 2017-12-31 0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2017-12-31 0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2017-12-31 0
Reductions in caryover balances due to elections or deemed elections 2017-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2017-12-31 0
Balance of carryovers at beginning of current year 2017-12-31 0
Balance of prefunding at beginning of current year 2017-12-31 271,460
Total employer contributions 2017-12-31 0
Total employee contributions 2017-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2017-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2017-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2017-12-31 0
Unpaid minimum required contributions for all prior years 2017-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2017-12-31 0
Remaining amount of unpaid minimum required contributions 2017-12-31 0
Minimum required contributions for current year target normal cost 2017-12-31 14,579
Net shortfall amortization installment of oustanding balance 2017-12-31 0
Waiver amortization installment 2017-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2017-12-31 0
Carryover balance elected to use to offset funding requirement 2017-12-31 0
Prefunding balance elected to use to offset funding requirement 2017-12-31 0
Additional cash requirement 2017-12-31 0
Contributions allocatedtoward minimum required contributions for current year 2017-12-31 0
Unpaid minimum required contributions for current year 2017-12-31 0
Unpaid minimum required contributions for all years 2017-12-31 0
2016: SUMMIT FINANCIAL CONSULTANTS, INC. DEFINED BENEFIT PENSION PLAN 2016 401k membership
Market value of plan assets 2016-12-31 1,423,905
Acturial value of plan assets 2016-12-31 1,423,905
Funding target for retired participants and beneficiaries receiving payment 2016-12-31 0
Number of terminated vested participants 2016-12-31 0
Fundng target for terminated vested participants 2016-12-31 0
Active participant vested funding target 2016-12-31 674,696
Number of active participants 2016-12-31 2
Total funding liabilities for active participants 2016-12-31 674,696
Total participant count 2016-12-31 2
Total funding target for all participants 2016-12-31 674,696
Balance at beginning of prior year after applicable adjustments 2016-12-31 0
Prefunding balance at beginning of prior year after applicable adjustments 2016-12-31 597,747
Carryover balanced portion elected for use to offset prior years funding requirement 2016-12-31 0
Prefunding balanced used to offset prior years funding requirement 2016-12-31 0
Amount remaining of carryover balance 2016-12-31 0
Amount remaining of prefunding balance 2016-12-31 597,747
Present value of excess contributions 2016-12-31 0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2016-12-31 0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2016-12-31 0
Reductions in caryover balances due to elections or deemed elections 2016-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2016-12-31 0
Balance of carryovers at beginning of current year 2016-12-31 0
Balance of prefunding at beginning of current year 2016-12-31 614,663
Total employer contributions 2016-12-31 0
Total employee contributions 2016-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2016-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2016-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2016-12-31 0
Unpaid minimum required contributions for all prior years 2016-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2016-12-31 0
Remaining amount of unpaid minimum required contributions 2016-12-31 0
Minimum required contributions for current year target normal cost 2016-12-31 472,015
Net shortfall amortization installment of oustanding balance 2016-12-31 0
Waiver amortization installment 2016-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2016-12-31 378,344
Carryover balance elected to use to offset funding requirement 2016-12-31 0
Prefunding balance elected to use to offset funding requirement 2016-12-31 378,344
Additional cash requirement 2016-12-31 0
Contributions allocatedtoward minimum required contributions for current year 2016-12-31 0
Unpaid minimum required contributions for current year 2016-12-31 0
Unpaid minimum required contributions for all years 2016-12-31 0
2011: SUMMIT FINANCIAL CONSULTANTS, INC. DEFINED BENEFIT PENSION PLAN 2011 401k membership
Total participants, beginning-of-year 2011-01-01 2
Total number of active participants reported on line 7a of the Form 5500 2011-01-01 2
Number of retired or separated participants receiving benefits 2011-01-01 0
Number of other retired or separated participants entitled to future benefits 2011-01-01 0
Total of all active and inactive participants 2011-01-01 2
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2011-01-01 0
Total participants 2011-01-01 2
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2011-01-01 0

Measure	Date	Value
2017: SUMMIT FINANCIAL CONSULTANTS, INC. DEFINED BENEFIT PENSION PLAN 2017 401k membership
Market value of plan assets	2017-12-31	1,423,905
Acturial value of plan assets	2017-12-31	1,423,905
Funding target for retired participants and beneficiaries receiving payment	2017-12-31	0
Number of terminated vested participants	2017-12-31	0
Fundng target for terminated vested participants	2017-12-31	0
Active participant vested funding target	2017-12-31	1,072,774
Number of active participants	2017-12-31	3
Total funding liabilities for active participants	2017-12-31	1,072,774
Total participant count	2017-12-31	3
Total funding target for all participants	2017-12-31	1,072,774
Balance at beginning of prior year after applicable adjustments	2017-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2017-12-31	614,663
Carryover balanced portion elected for use to offset prior years funding requirement	2017-12-31	0
Prefunding balanced used to offset prior years funding requirement	2017-12-31	378,344
Amount remaining of carryover balance	2017-12-31	0
Amount remaining of prefunding balance	2017-12-31	236,319
Present value of excess contributions	2017-12-31	0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2017-12-31	0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2017-12-31	0
Reductions in caryover balances due to elections or deemed elections	2017-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2017-12-31	0
Balance of carryovers at beginning of current year	2017-12-31	0
Balance of prefunding at beginning of current year	2017-12-31	271,460
Total employer contributions	2017-12-31	0
Total employee contributions	2017-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2017-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2017-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2017-12-31	0
Unpaid minimum required contributions for all prior years	2017-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2017-12-31	0
Remaining amount of unpaid minimum required contributions	2017-12-31	0
Minimum required contributions for current year target normal cost	2017-12-31	14,579
Net shortfall amortization installment of oustanding balance	2017-12-31	0
Waiver amortization installment	2017-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2017-12-31	0
Carryover balance elected to use to offset funding requirement	2017-12-31	0
Prefunding balance elected to use to offset funding requirement	2017-12-31	0
Additional cash requirement	2017-12-31	0
Contributions allocatedtoward minimum required contributions for current year	2017-12-31	0
Unpaid minimum required contributions for current year	2017-12-31	0
Unpaid minimum required contributions for all years	2017-12-31	0
2016: SUMMIT FINANCIAL CONSULTANTS, INC. DEFINED BENEFIT PENSION PLAN 2016 401k membership
Market value of plan assets	2016-12-31	1,423,905
Acturial value of plan assets	2016-12-31	1,423,905
Funding target for retired participants and beneficiaries receiving payment	2016-12-31	0
Number of terminated vested participants	2016-12-31	0
Fundng target for terminated vested participants	2016-12-31	0
Active participant vested funding target	2016-12-31	674,696
Number of active participants	2016-12-31	2
Total funding liabilities for active participants	2016-12-31	674,696
Total participant count	2016-12-31	2
Total funding target for all participants	2016-12-31	674,696
Balance at beginning of prior year after applicable adjustments	2016-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2016-12-31	597,747
Carryover balanced portion elected for use to offset prior years funding requirement	2016-12-31	0
Prefunding balanced used to offset prior years funding requirement	2016-12-31	0
Amount remaining of carryover balance	2016-12-31	0
Amount remaining of prefunding balance	2016-12-31	597,747
Present value of excess contributions	2016-12-31	0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2016-12-31	0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2016-12-31	0
Reductions in caryover balances due to elections or deemed elections	2016-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2016-12-31	0
Balance of carryovers at beginning of current year	2016-12-31	0
Balance of prefunding at beginning of current year	2016-12-31	614,663
Total employer contributions	2016-12-31	0
Total employee contributions	2016-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2016-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2016-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2016-12-31	0
Unpaid minimum required contributions for all prior years	2016-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2016-12-31	0
Remaining amount of unpaid minimum required contributions	2016-12-31	0
Minimum required contributions for current year target normal cost	2016-12-31	472,015
Net shortfall amortization installment of oustanding balance	2016-12-31	0
Waiver amortization installment	2016-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2016-12-31	378,344
Carryover balance elected to use to offset funding requirement	2016-12-31	0
Prefunding balance elected to use to offset funding requirement	2016-12-31	378,344
Additional cash requirement	2016-12-31	0
Contributions allocatedtoward minimum required contributions for current year	2016-12-31	0
Unpaid minimum required contributions for current year	2016-12-31	0
Unpaid minimum required contributions for all years	2016-12-31	0
2011: SUMMIT FINANCIAL CONSULTANTS, INC. DEFINED BENEFIT PENSION PLAN 2011 401k membership
Total participants, beginning-of-year	2011-01-01	2
Total number of active participants reported on line 7a of the Form 5500	2011-01-01	2
Number of retired or separated participants receiving benefits	2011-01-01	0
Number of other retired or separated participants entitled to future benefits	2011-01-01	0
Total of all active and inactive participants	2011-01-01	2
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2011-01-01	0
Total participants	2011-01-01	2
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2011-01-01	0

Financial Data on SUMMIT FINANCIAL CONSULTANTS, INC. DEFINED BENEFIT PENSION PLAN

Measure	Date	Value
2011 : SUMMIT FINANCIAL CONSULTANTS, INC. DEFINED BENEFIT PENSION PLAN 2011 401k financial data
Transfers to/from the plan	2011-12-31	$0
Total plan liabilities at end of year	2011-12-31	$0
Total plan liabilities at beginning of year	2011-12-31	$0
Total income from all sources	2011-12-31	$52,386
Expenses. Total of all expenses incurred	2011-12-31	$41,227
Benefits paid (including direct rollovers)	2011-12-31	$37,324
Total plan assets at end of year	2011-12-31	$1,277,867
Total plan assets at beginning of year	2011-12-31	$1,266,708
Value of fidelity bond covering the plan	2011-12-31	$90,000
Total contributions received or receivable from participants	2011-12-31	$0
Expenses. Other expenses not covered elsewhere	2011-12-31	$3,903
Contributions received from other sources (not participants or employers)	2011-12-31	$0
Other income received	2011-12-31	$2,386
Noncash contributions received	2011-12-31	$0
Net income (gross income less expenses)	2011-12-31	$11,159
Net plan assets at end of year (total assets less liabilities)	2011-12-31	$1,277,867
Net plan assets at beginning of year (total assets less liabilities)	2011-12-31	$1,266,708
Total contributions received or receivable from employer(s)	2011-12-31	$50,000
Value of certain deemed distributions of participant loans	2011-12-31	$0
Value of corrective distributions	2011-12-31	$0
Expenses. Administrative service providers (salaries,fees and commissions)	2011-12-31	$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2011-12-31	$0

Form 5500 Responses for SUMMIT FINANCIAL CONSULTANTS, INC. DEFINED BENEFIT PENSION PLAN

2011: SUMMIT FINANCIAL CONSULTANTS, INC. DEFINED BENEFIT PENSION PLAN 2011 form 5500 responses
2011-01-01	Type of plan entity	Single employer plan
2011-01-01	Plan funding arrangement – Insurance	Yes
2011-01-01	Plan funding arrangement – Trust	Yes
2011-01-01	Plan benefit arrangement – Insurance	Yes
2011-01-01	Plan benefit arrangement - Trust	Yes

Insurance Providers Used on plan

HARTFORD LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 88072 )

Policy contract number

Policy instance

Number of Individuals Covered	1
Insurance policy start date	2011-01-01
Insurance policy end date	2011-12-31
Total amount of commissions paid to insurance broker	USD $851
Are there contracts with allocated funds for individual policies?	Yes

Potentially related plans

Was this data useful?

If you found the data here useful, PLEASE HELP US. We are a start-up and believe in making information freely available. By linking to us, posting on twitter, facebook and linkedin about us and generally spreading the word, you'll help us to grow. Our vision is to provide high quality data about the activities of all the companies in the world and where possible make it free to use and view. Finding and integrating data from thousands of data sources is time consuming and needs lots of effort. By simply spreading the word about us, you will help us. Please use the share buttons. It will only take a few seconds of your time. Thanks for helping

Information Disclaimer

The information provided on this website is not advice, endorsement or recommendation
The information published is supplied by third parties so we make no warranty on the accuracy, completeness etc. This information is provided "as-is". The information is subject to change as we obtain updates and corrections from the primary information sources.
You are free to use the information for your own personal research on the understanding to do so is at your own risk.

See full terms and conditions

Company Name:	SUMMIT FINANCIAL CONSULTANTS, INC.
Employer identification number (EIN):	954020872
NAIC Classification:	524210
NAIC Description:	Insurance Agencies and Brokerages

Jurisdiction of Incorporation:	New York Department of State
Incorporation Date:	1995-05-23
Company Identification Number:	1924756
Legal Registered Office Address:	35 E GRASSY SPRAIN ROAD / 406 Westchester YONKERS United States of America (USA) 10710