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WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameWAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN
Plan identification number 002

WAITSFIELD-FAYSTON TELEPHONE CO. 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

WAITSFIELD-FAYSTON TELEPHONE COMPANY, INC. has sponsored the creation of one or more 401k plans.

Company Name:WAITSFIELD-FAYSTON TELEPHONE COMPANY, INC.
Employer identification number (EIN):030165290
NAIC Classification:517000

Form 5500 Filing Information

Submission information for form 5500 for 401k plan WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01
0022021-01-01
0022020-01-01
0022019-01-01
0022018-01-01LISA CHAPIN
0022017-01-01LISA CHAPIN2018-06-25
0022016-01-01GREGG HASKIN2017-06-27
0022016-01-01GREGG HASKIN2017-06-07
0022015-01-01GREGG HASKIN2016-07-05
0022014-01-01GREGG HASKIN2015-06-23
0022013-01-01GREGG HASKIN2014-05-29
0022012-01-01GREGG HASKIN2013-06-27
0022011-01-01GREGG HASKIN2012-07-02
0022010-01-01LISA CHAPIN2011-07-01
0022009-01-01GREGG HASKIN GREGG HASKIN2010-06-16

Plan Statistics for WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN

Measure Date Value
2022: WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-0172
Total number of active participants reported on line 7a of the Form 55002022-01-0168
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-0112
Total of all active and inactive participants2022-01-0180
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-0180
Number of participants with account balances2022-01-0176
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-0174
Total number of active participants reported on line 7a of the Form 55002021-01-0168
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-014
Total of all active and inactive participants2021-01-0172
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-0172
Number of participants with account balances2021-01-0167
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010
2020: WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-0173
Total number of active participants reported on line 7a of the Form 55002020-01-0170
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-014
Total of all active and inactive participants2020-01-0174
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-0174
Number of participants with account balances2020-01-0172
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-0174
Total number of active participants reported on line 7a of the Form 55002019-01-0170
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-013
Total of all active and inactive participants2019-01-0173
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-0173
Number of participants with account balances2019-01-0172
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-0174
Total number of active participants reported on line 7a of the Form 55002018-01-0170
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-014
Total of all active and inactive participants2018-01-0174
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-0174
Number of participants with account balances2018-01-0173
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010
2009: WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-0196
Total number of active participants reported on line 7a of the Form 55002009-01-0190
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-014
Total of all active and inactive participants2009-01-0194
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-0194
Number of participants with account balances2009-01-0191
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

Financial Data on WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN

Measure Date Value
2022 : WAITSFIELD-FAYSTON TELEPHONE CO. 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$0
Total plan liabilities at beginning of year2022-12-31$0
Total income from all sources2022-12-31$-3,661,092
Expenses. Total of all expenses incurred2022-12-31$1,490,703
Benefits paid (including direct rollovers)2022-12-31$1,467,328
Total plan assets at end of year2022-12-31$22,650,825
Total plan assets at beginning of year2022-12-31$27,802,620
Value of fidelity bond covering the plan2022-12-31$1,775,000
Total contributions received or receivable from participants2022-12-31$725,864
Expenses. Other expenses not covered elsewhere2022-12-31$0
Contributions received from other sources (not participants or employers)2022-12-31$0
Other income received2022-12-31$-4,701,413
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$-5,151,795
Net plan assets at end of year (total assets less liabilities)2022-12-31$22,650,825
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$27,802,620
Assets. Value of participant loans2022-12-31$255,673
Total contributions received or receivable from employer(s)2022-12-31$314,457
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$23,375
2021 : WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN 2021 401k financial data
Transfers to/from the plan2021-12-31$0
Total plan liabilities at end of year2021-12-31$0
Total plan liabilities at beginning of year2021-12-31$0
Total income from all sources2021-12-31$4,459,713
Expenses. Total of all expenses incurred2021-12-31$1,805,624
Benefits paid (including direct rollovers)2021-12-31$1,775,658
Total plan assets at end of year2021-12-31$27,802,620
Total plan assets at beginning of year2021-12-31$25,148,531
Value of fidelity bond covering the plan2021-12-31$1,775,000
Assets. Value of tangible personal property2021-12-31$0
Total contributions received or receivable from participants2021-12-31$734,646
Assets. Value of loans (other than to participants)2021-12-31$0
Expenses. Other expenses not covered elsewhere2021-12-31$0
Contributions received from other sources (not participants or employers)2021-12-31$0
Other income received2021-12-31$3,403,834
Noncash contributions received2021-12-31$0
Net income (gross income less expenses)2021-12-31$2,654,089
Net plan assets at end of year (total assets less liabilities)2021-12-31$27,802,620
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$25,148,531
Assets. Value of participant loans2021-12-31$342,211
Assets. Value of assets in partnership/joint-venture interests2021-12-31$0
Assets. Value of real-estate (other than employer real property)2021-12-31$0
Assets. Value of employer securities2021-12-31$0
Assets. Value of employer real property2021-12-31$0
Total contributions received or receivable from employer(s)2021-12-31$321,233
Value of certain deemed distributions of participant loans2021-12-31$0
Value of corrective distributions2021-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$29,966
2020 : WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN 2020 401k financial data
Transfers to/from the plan2020-12-31$0
Total plan liabilities at end of year2020-12-31$0
Total plan liabilities at beginning of year2020-12-31$0
Total income from all sources2020-12-31$4,354,253
Expenses. Total of all expenses incurred2020-12-31$2,198,064
Benefits paid (including direct rollovers)2020-12-31$2,174,412
Total plan assets at end of year2020-12-31$25,148,531
Total plan assets at beginning of year2020-12-31$22,992,342
Value of fidelity bond covering the plan2020-12-31$1,775,000
Assets. Value of tangible personal property2020-12-31$0
Total contributions received or receivable from participants2020-12-31$734,386
Assets. Value of loans (other than to participants)2020-12-31$0
Expenses. Other expenses not covered elsewhere2020-12-31$0
Contributions received from other sources (not participants or employers)2020-12-31$0
Other income received2020-12-31$3,298,037
Noncash contributions received2020-12-31$0
Net income (gross income less expenses)2020-12-31$2,156,189
Net plan assets at end of year (total assets less liabilities)2020-12-31$25,148,531
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$22,992,342
Assets. Value of participant loans2020-12-31$401,167
Assets. Value of assets in partnership/joint-venture interests2020-12-31$0
Assets. Value of real-estate (other than employer real property)2020-12-31$0
Assets. Value of employer securities2020-12-31$0
Assets. Value of employer real property2020-12-31$0
Total contributions received or receivable from employer(s)2020-12-31$321,830
Value of certain deemed distributions of participant loans2020-12-31$0
Value of corrective distributions2020-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$23,652
2019 : WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN 2019 401k financial data
Transfers to/from the plan2019-12-31$0
Total plan liabilities at end of year2019-12-31$0
Total plan liabilities at beginning of year2019-12-31$0
Total income from all sources2019-12-31$4,988,150
Expenses. Total of all expenses incurred2019-12-31$258,222
Benefits paid (including direct rollovers)2019-12-31$230,455
Total plan assets at end of year2019-12-31$22,992,342
Total plan assets at beginning of year2019-12-31$18,262,414
Value of fidelity bond covering the plan2019-12-31$1,775,000
Total contributions received or receivable from participants2019-12-31$728,078
Expenses. Other expenses not covered elsewhere2019-12-31$0
Contributions received from other sources (not participants or employers)2019-12-31$0
Other income received2019-12-31$3,936,637
Noncash contributions received2019-12-31$0
Net income (gross income less expenses)2019-12-31$4,729,928
Net plan assets at end of year (total assets less liabilities)2019-12-31$22,992,342
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$18,262,414
Assets. Value of participant loans2019-12-31$422,747
Total contributions received or receivable from employer(s)2019-12-31$323,435
Value of certain deemed distributions of participant loans2019-12-31$0
Value of corrective distributions2019-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$27,767
2018 : WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN 2018 401k financial data
Transfers to/from the plan2018-12-31$0
Total plan liabilities at end of year2018-12-31$0
Total plan liabilities at beginning of year2018-12-31$0
Total income from all sources2018-12-31$-299,374
Expenses. Total of all expenses incurred2018-12-31$1,731,156
Benefits paid (including direct rollovers)2018-12-31$1,672,712
Total plan assets at end of year2018-12-31$18,262,414
Total plan assets at beginning of year2018-12-31$20,292,944
Value of fidelity bond covering the plan2018-12-31$1,775,000
Total contributions received or receivable from participants2018-12-31$671,227
Expenses. Other expenses not covered elsewhere2018-12-31$0
Contributions received from other sources (not participants or employers)2018-12-31$0
Other income received2018-12-31$-1,274,367
Noncash contributions received2018-12-31$0
Net income (gross income less expenses)2018-12-31$-2,030,530
Net plan assets at end of year (total assets less liabilities)2018-12-31$18,262,414
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$20,292,944
Assets. Value of participant loans2018-12-31$468,462
Total contributions received or receivable from employer(s)2018-12-31$303,766
Value of certain deemed distributions of participant loans2018-12-31$0
Value of corrective distributions2018-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$58,444
2009 : WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN

2022: WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01This submission is the final filingNo
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01This submission is the final filingNo
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01This submission is the final filingNo
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedNo
2018-01-01This submission is the final filingNo
2018-01-01This return/report is a short plan year return/report (less than 12 months)No
2018-01-01Plan is a collectively bargained planNo
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2009: WAITSFIELD-FAYSTON TELEPHONE CO. INC. 401(K) PROFIT SHARING 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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