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NEXARK, INC. DEFINED BENEFIT PENSION PLAN 401k Plan overview

Plan NameNEXARK, INC. DEFINED BENEFIT PENSION PLAN
Plan identification number 001

NEXARK, INC. DEFINED BENEFIT PENSION PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • 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)).
  • Life insurance

401k Sponsoring company profile

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

Company Name:NEXARK, INC.
Employer identification number (EIN):202455546
NAIC Classification:423600

Form 5500 Filing Information

Submission information for form 5500 for 401k plan NEXARK, INC. DEFINED BENEFIT PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012016-01-01ADAM RAEBURN2017-09-25
0012015-01-01ADAM RAEBURN2016-09-29
0012014-01-01ADAM RAEBURN2015-10-07
0012013-01-01ADAM RAEBURN2014-10-13
0012012-01-01ADAM RAEBURN
0012011-01-01ADAM RAEBURN
0012010-01-01ADAM RAEBURN2011-08-22

Plan Statistics for NEXARK, INC. DEFINED BENEFIT PENSION PLAN

401k plan membership statisitcs for NEXARK, INC. DEFINED BENEFIT PENSION PLAN

Measure Date Value
2016: NEXARK, INC. DEFINED BENEFIT PENSION PLAN 2016 401k membership
Market value of plan assets2016-12-311,617,935
Acturial value of plan assets2016-12-311,617,935
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-310
Fundng target for terminated vested participants2016-12-310
Active participant vested funding target2016-12-311,446,659
Number of active participants2016-12-312
Total funding liabilities for active participants2016-12-311,446,659
Total participant count2016-12-312
Total funding target for all participants2016-12-311,446,659
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-31209,037
Carryover balanced portion elected for use to offset prior years funding requirement2016-12-310
Prefunding balanced used to offset prior years funding requirement2016-12-310
Amount remaining of carryover balance2016-12-310
Amount remaining of prefunding balance2016-12-31209,037
Present value of excess contributions2016-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2016-12-310
Reductions in caryover balances due to elections or deemed elections2016-12-310
Reductions in prefunding balances due to elections or deemed elections2016-12-310
Balance of carryovers at beginning of current year2016-12-310
Balance of prefunding at beginning of current year2016-12-31207,532
Total employer contributions2016-12-310
Total employee contributions2016-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2016-12-310
Contributions made to avoid restrictions adjusted to valuation date2016-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2016-12-310
Unpaid minimum required contributions for all prior years2016-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2016-12-310
Remaining amount of unpaid minimum required contributions2016-12-310
Minimum required contributions for current year target normal cost2016-12-31122,632
Net shortfall amortization installment of oustanding balance2016-12-3148,521
Total funding amount beforereflecting carryover/prefunding balances2016-12-31130,649
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-31130,649
Additional cash requirement2016-12-310
Contributions allocatedtoward minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310
2012: NEXARK, INC. DEFINED BENEFIT PENSION PLAN 2012 401k membership
Total participants, beginning-of-year2012-01-012
Total number of active participants reported on line 7a of the Form 55002012-01-013
Total of all active and inactive participants2012-01-013
Total participants2012-01-013
2011: NEXARK, INC. DEFINED BENEFIT PENSION PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-012
Total number of active participants reported on line 7a of the Form 55002011-01-012
Total of all active and inactive participants2011-01-012
Total participants2011-01-012

Financial Data on NEXARK, INC. DEFINED BENEFIT PENSION PLAN

Measure Date Value
2012 : NEXARK, INC. DEFINED BENEFIT PENSION PLAN 2012 401k financial data
Total income from all sources2012-12-31$289,545
Expenses. Total of all expenses incurred2012-12-31$3,501
Total plan assets at end of year2012-12-31$1,111,843
Total plan assets at beginning of year2012-12-31$825,799
Other income received2012-12-31$4,545
Net income (gross income less expenses)2012-12-31$286,044
Net plan assets at end of year (total assets less liabilities)2012-12-31$1,111,843
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$825,799
Total contributions received or receivable from employer(s)2012-12-31$285,000
Expenses. Administrative service providers (salaries,fees and commissions)2012-12-31$3,501
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-31$0
2011 : NEXARK, INC. DEFINED BENEFIT PENSION PLAN 2011 401k financial data
Total income from all sources2011-12-31$282,081
Total plan assets at end of year2011-12-31$825,799
Total plan assets at beginning of year2011-12-31$543,718
Other income received2011-12-31$-2,919
Net income (gross income less expenses)2011-12-31$282,081
Net plan assets at end of year (total assets less liabilities)2011-12-31$825,799
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$543,718
Total contributions received or receivable from employer(s)2011-12-31$285,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0

Form 5500 Responses for NEXARK, INC. DEFINED BENEFIT PENSION PLAN

2012: NEXARK, INC. DEFINED BENEFIT PENSION PLAN 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Plan funding arrangement – InsuranceYes
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement – InsuranceYes
2012-01-01Plan benefit arrangement - TrustYes
2011: NEXARK, INC. DEFINED BENEFIT PENSION PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Plan funding arrangement – InsuranceYes
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement – InsuranceYes
2011-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

HARTFORD LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 88072 )
Policy contract numberVARIOUS
Policy instance 1
Insurance contract or identification numberVARIOUS
Number of Individuals Covered2
Insurance policy start date2012-01-01
Insurance policy end date2012-12-31
Total amount of commissions paid to insurance brokerUSD $1,959
Are there contracts with allocated funds for individual policies?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $490
Insurance broker organization code?3
Insurance broker nameMICHAEL FINNELL
HARTFORD LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 88072 )
Policy contract numberVARIOUS
Policy instance 1
Insurance contract or identification numberVARIOUS
Number of Individuals Covered2
Insurance policy start date2011-01-01
Insurance policy end date2011-12-31
Total amount of commissions paid to insurance brokerUSD $932
Are there contracts with allocated funds for individual policies?Yes
Life Insurance Welfare BenefitYes

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