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CAYUGA COUNTY CHAMBER OF COMMERCE INC. 401(K) PLAN 401k Plan overview

Plan NameCAYUGA COUNTY CHAMBER OF COMMERCE INC. 401(K) PLAN
Plan identification number 002

CAYUGA COUNTY CHAMBER OF COMMERCE INC. 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.
  • 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

CAYUGA COUNTY CHAMBER OF COMMERCE INC. has sponsored the creation of one or more 401k plans.

Company Name:CAYUGA COUNTY CHAMBER OF COMMERCE INC.
Employer identification number (EIN):150235250
NAIC Classification:813000
NAIC Description: Religious, Grantmaking, Civic, Professional, and Similar Organizations

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CAYUGA COUNTY CHAMBER OF COMMERCE INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022014-01-01ANDREW R. FISH
0022013-01-01ANDREW FISH2014-10-14 ANDREW FISH2014-10-14

Plan Statistics for CAYUGA COUNTY CHAMBER OF COMMERCE INC. 401(K) PLAN

401k plan membership statisitcs for CAYUGA COUNTY CHAMBER OF COMMERCE INC. 401(K) PLAN

Measure Date Value
2014: CAYUGA COUNTY CHAMBER OF COMMERCE INC. 401(K) PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-01606
Total number of active participants reported on line 7a of the Form 55002014-01-01513
Number of retired or separated participants receiving benefits2014-01-012
Number of other retired or separated participants entitled to future benefits2014-01-0151
Total of all active and inactive participants2014-01-01566
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-01566
Number of participants with account balances2014-01-01230
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-0146

Financial Data on CAYUGA COUNTY CHAMBER OF COMMERCE INC. 401(K) PLAN

Measure Date Value
2014 : CAYUGA COUNTY CHAMBER OF COMMERCE INC. 401(K) PLAN 2014 401k financial data
Total unrealized appreciation/depreciation of assets2014-12-31$0
Total transfer of assets to this plan2014-12-31$1,156,498
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-12-31$5,241
Total income from all sources (including contributions)2014-12-31$746,224
Total loss/gain on sale of assets2014-12-31$0
Total of all expenses incurred2014-12-31$335,183
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2014-12-31$269,506
Expenses. Certain deemed distributions of participant loans2014-12-31$11,202
Total contributions o plan (from employers,participants, others, non cash contrinutions)2014-12-31$757,297
Value of total assets at end of year2014-12-31$5,312,730
Value of total assets at beginning of year2014-12-31$3,750,432
Total of administrative expenses incurred including professional, contract, advisory and management fees2014-12-31$54,475
Total interest from all sources2014-12-31$6,097
Total dividends received (eg from common stock, registered investment company shares)2014-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2014-12-31No
Was this plan covered by a fidelity bond2014-12-31Yes
Value of fidelity bond cover2014-12-31$500,000
If this is an individual account plan, was there a blackout period2014-12-31Yes
Were there any nonexempt tranactions with any party-in-interest2014-12-31No
Contributions received from participants2014-12-31$371,137
Participant contributions at end of year2014-12-31$185,194
Participant contributions at beginning of year2014-12-31$80,417
Participant contributions at end of year2014-12-31$24,991
Participant contributions at beginning of year2014-12-31$9,670
Assets. Other investments not covered elsewhere at end of year2014-12-31$1,079,505
Income. Received or receivable in cash from other sources (including rollovers)2014-12-31$257,322
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2014-12-31$18
Value of other receiveables (less allowance for doubtful accounts) at end of year2014-12-31$1,383
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2014-12-31$253
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2014-12-31$5,241
Other income not declared elsewhere2014-12-31$3,099
Administrative expenses (other) incurred2014-12-31$13,056
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Value of net income/loss2014-12-31$411,041
Value of net assets at end of year (total assets less liabilities)2014-12-31$5,312,730
Value of net assets at beginning of year (total assets less liabilities)2014-12-31$3,745,191
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2014-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2014-12-31No
Were any leases to which the plan was party in default or uncollectible2014-12-31No
Value of interest in pooled separate accounts at end of year2014-12-31$3,510,755
Value of interest in pooled separate accounts at beginning of year2014-12-31$3,222,919
Interest on participant loans2014-12-31$6,097
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2014-12-31$508,089
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2014-12-31$433,935
Net investment gain/loss from pooled separate accounts2014-12-31$-20,269
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2014-12-31No
Was there a failure to transmit to the plan any participant contributions2014-12-31Yes
Has the plan failed to provide any benefit when due under the plan2014-12-31No
Contributions received in cash from employer2014-12-31$128,838
Employer contributions (assets) at end of year2014-12-31$2,813
Employer contributions (assets) at beginning of year2014-12-31$3,238
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2014-12-31$269,488
Contract administrator fees2014-12-31$41,419
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32014-12-31Yes
Did the plan have assets held for investment2014-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2014-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2014-12-31Yes
Opinion of an independent qualified public accountant for this plan2014-12-31Disclaimer
Accountancy firm name2014-12-31CUDDY & WARD, LLP
Accountancy firm EIN2014-12-31141809700

Form 5500 Responses for CAYUGA COUNTY CHAMBER OF COMMERCE INC. 401(K) PLAN

2014: CAYUGA COUNTY CHAMBER OF COMMERCE INC. 401(K) PLAN 2014 form 5500 responses
2014-01-01Type of plan entityMulitple employer plan
2014-01-01Submission has been amendedNo
2014-01-01This submission is the final filingNo
2014-01-01This return/report is a short plan year return/report (less than 12 months)No
2014-01-01Plan is a collectively bargained planNo
2014-01-01Plan funding arrangement – InsuranceYes
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement – InsuranceYes
2014-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

LINCOLN LIFE AND ANNUITY CO OF NY (National Association of Insurance Commissioners NAIC id number: 62057 )
Policy contract numberCCCP
Policy instance 1
Insurance contract or identification numberCCCP
Number of Individuals Covered243
Insurance policy start date2014-01-01
Insurance policy end date2014-12-31
Total amount of commissions paid to insurance brokerUSD $9,903
Total amount of fees paid to insurance companyUSD $12,687
Are there contracts with allocated funds for individual policies?No
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 fees5
Additional information about fees paid to insurance brokerMARKETING ALLOWANCE
Insurance broker organization code?5
Commission paid to Insurance BrokerUSD $9,903
Insurance broker namePINNACLE FINANCIAL SERVICES, INC.

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