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GROOVE 401(K) PLAN 401k Plan overview

Plan NameGROOVE 401(K) PLAN
Plan identification number 001

GROOVE 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

GROOVE TECHNOLOGY SOLUTIONS, INC. has sponsored the creation of one or more 401k plans.

Company Name:GROOVE TECHNOLOGY SOLUTIONS, INC.
Employer identification number (EIN):208658607
NAIC Classification:517000

Form 5500 Filing Information

Submission information for form 5500 for 401k plan GROOVE 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01
0012022-01-01
0012021-01-01
0012020-01-01
0012019-01-01
0012018-01-01
0012017-01-01
0012016-01-01LANCE J. PLATT2017-04-21

Plan Statistics for GROOVE 401(K) PLAN

401k plan membership statisitcs for GROOVE 401(K) PLAN

Measure Date Value
2025: GROOVE 401(K) PLAN 2025 401k membership
Total number of particpants at beginning of year2025-07-22148
Total number of particpants at end of year2025-07-22179
Number of Participants With Account Balances2025-07-22127
2024: GROOVE 401(K) PLAN 2024 401k membership
Total number of particpants at beginning of year2024-05-02142
Total number of particpants at end of year2024-05-02145
Number of Participants With Account Balances2024-05-0293
2022: GROOVE 401(K) PLAN 2022 401k membership
Total number of particpants at beginning of year2022-07-2696
Total number of particpants at end of year2022-07-26112
Number of Participants With Account Balances2022-07-2677

Financial Data on GROOVE 401(K) PLAN

Measure Date Value
2025 : GROOVE 401(K) PLAN 2025 401k financial data
Total transfers to/from plan in this plan year2025-07-220
Total liabilities as of the end of the plan year2025-07-2218259
Total liabilities as of the beginning of the plan year2025-07-223008
Total expenses incurred by plan in this plan year2025-07-22454604
Net assets as of the end of the plan year2025-07-226047173
Total assets as of the beginning of the plan year2025-07-224630049
Value of plan covered by a fidelity bond2025-07-22462704
Participant contributions to plan in this plan year2025-07-22708428
Value of participant loans at end of plan year2025-07-22141543
Other expenses paid from plan in this plan year2025-07-220
Other contributions to plan in this plan year2025-07-2285464
Other income to plan in this plan year2025-07-22706110
Plan net income in this plan year2025-07-221401873
Net assets as of the end of the plan year2025-07-226028914
Net assets as of the beginning of the plan year2025-07-224627041
Employer contributions to plan in this plan year2025-07-22356475
Fees paid to broker by Benefit Provider2025-07-229454
Expensese paid to adminstrative service provicers from plan in this plan year2025-07-2251551
2024 : GROOVE 401(K) PLAN 2024 401k financial data
Total liabilities as of the end of the plan year2024-05-023008
Total liabilities as of the beginning of the plan year2024-05-028276
Total expenses incurred by plan in this plan year2024-05-02168094
Net assets as of the end of the plan year2024-05-024630049
Total assets as of the beginning of the plan year2024-05-023059113
Value of plan covered by a fidelity bond2024-05-02305084
Participant contributions to plan in this plan year2024-05-02545152
Value of participant loans at end of plan year2024-05-02102520
Other expenses paid from plan in this plan year2024-05-020
Other contributions to plan in this plan year2024-05-02282379
Other income to plan in this plan year2024-05-02640410
Plan net income in this plan year2024-05-021576204
Net assets as of the end of the plan year2024-05-024627041
Net assets as of the beginning of the plan year2024-05-023050837
Employer contributions to plan in this plan year2024-05-02276357
Fees paid to broker by Benefit Provider2024-05-0211107
Expensese paid to adminstrative service provicers from plan in this plan year2024-05-0241501
2022 : GROOVE 401(K) PLAN 2022 401k financial data
Total liabilities as of the end of the plan year2022-07-2617041
Total liabilities as of the beginning of the plan year2022-07-2619637
Total expenses incurred by plan in this plan year2022-07-26326235
Net assets as of the end of the plan year2022-07-262010530
Total assets as of the beginning of the plan year2022-07-261588635
Value of plan covered by a fidelity bond2022-07-26156900
Participant contributions to plan in this plan year2022-07-26298919
Value of participant loans at end of plan year2022-07-2688459
Other contributions to plan in this plan year2022-07-2643716
Other income to plan in this plan year2022-07-26239661
Plan net income in this plan year2022-07-26424491
Net assets as of the end of the plan year2022-07-261993489
Net assets as of the beginning of the plan year2022-07-261568998
Employer contributions to plan in this plan year2022-07-26168430
Fees paid to broker by Benefit Provider2022-07-266374
Expensese paid to adminstrative service provicers from plan in this plan year2022-07-2625567

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