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JOLLY'S PHARMACY, INC. 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameJOLLY'S PHARMACY, INC. 401(K) PROFIT SHARING PLAN
Plan identification number 001

JOLLY'S PHARMACY, 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.
  • Partial participant-directed account plan - Participants have the opportunity to direct the investment of a portion of 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.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • 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

JOLLY'S PHARMACY, INC. DBA READY MEDS PHARMACY has sponsored the creation of one or more 401k plans.

Company Name:JOLLY'S PHARMACY, INC. DBA READY MEDS PHARMACY
Employer identification number (EIN):261966054
NAIC Classification:621610
NAIC Description:Home Health Care Services

Form 5500 Filing Information

Submission information for form 5500 for 401k plan JOLLY'S PHARMACY, INC. 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012024-01-01PAUL SOK
0012023-01-01PAUL SOK2024-06-18
0012022-01-01PAUL SOK2023-10-16
0012021-01-01
0012021-01-01BELETE GULELAT
0012020-01-01
0012019-01-01
0012018-01-01JOHN ANSAY2019-06-11
0012017-01-01JOHN ANSAY2018-07-10
0012016-01-01JOHN ANSAY2017-06-28
0012015-01-01
0012014-01-01ANDERSON JOLLY2015-08-19
0012013-01-01ANDERSON JOLLY2014-06-25
0012012-01-01ANDERSON JOLLY2013-05-06

Financial Data on JOLLY'S PHARMACY, INC. 401(K) PROFIT SHARING PLAN

Measure Date Value
2024 : JOLLY'S PHARMACY, INC. 401(K) PROFIT SHARING PLAN 2024 401k financial data
Total expenses incurred by plan in this plan year2024-06-18128161
Net assets as of the end of the plan year2024-06-185710599
Total assets as of the beginning of the plan year2024-06-183812672
Value of plan covered by a fidelity bond2024-06-18382000
Participant contributions to plan in this plan year2024-06-18832354
Value of participant loans at end of plan year2024-06-18216004
Other income to plan in this plan year2024-06-18820554
Plan net income in this plan year2024-06-181897927
Net assets as of the end of the plan year2024-06-185710599
Net assets as of the beginning of the plan year2024-06-183812672
Employer contributions to plan in this plan year2024-06-18373180
Expensese paid to adminstrative service provicers from plan in this plan year2024-06-1817971
2021 : JOLLY'S PHARMACY, 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$1,512,050
Expenses. Total of all expenses incurred2021-12-31$83,195
Benefits paid (including direct rollovers)2021-12-31$51,702
Total plan assets at end of year2021-12-31$4,082,255
Total plan assets at beginning of year2021-12-31$2,653,400
Value of fidelity bond covering the plan2021-12-31$500,000
Assets. Value of tangible personal property2021-12-31$0
Total contributions received or receivable from participants2021-12-31$478,063
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$302,394
Other income received2021-12-31$507,784
Noncash contributions received2021-12-31$0
Net income (gross income less expenses)2021-12-31$1,428,855
Net plan assets at end of year (total assets less liabilities)2021-12-31$4,082,255
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$2,653,400
Assets. Value of participant loans2021-12-31$0
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
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022021-12-31$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$223,809
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$31,493
2020 : JOLLY'S PHARMACY, 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$956,018
Expenses. Total of all expenses incurred2020-12-31$232,487
Benefits paid (including direct rollovers)2020-12-31$212,814
Total plan assets at end of year2020-12-31$2,653,400
Total plan assets at beginning of year2020-12-31$1,929,869
Value of fidelity bond covering the plan2020-12-31$250,000
Total contributions received or receivable from participants2020-12-31$385,142
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$377,721
Noncash contributions received2020-12-31$0
Net income (gross income less expenses)2020-12-31$723,531
Net plan assets at end of year (total assets less liabilities)2020-12-31$2,653,400
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$1,929,869
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022020-12-31$0
Total contributions received or receivable from employer(s)2020-12-31$193,155
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$19,673
2019 : JOLLY'S PHARMACY, 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$872,134
Expenses. Total of all expenses incurred2019-12-31$484,894
Benefits paid (including direct rollovers)2019-12-31$460,469
Total plan assets at end of year2019-12-31$1,929,869
Total plan assets at beginning of year2019-12-31$1,542,629
Value of fidelity bond covering the plan2019-12-31$250,000
Total contributions received or receivable from participants2019-12-31$329,580
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$396,700
Noncash contributions received2019-12-31$0
Net income (gross income less expenses)2019-12-31$387,240
Net plan assets at end of year (total assets less liabilities)2019-12-31$1,929,869
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$1,542,629
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022019-12-31$137
Total contributions received or receivable from employer(s)2019-12-31$145,854
Value of certain deemed distributions of participant loans2019-12-31$0
Value of corrective distributions2019-12-31$15,015
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$9,410

Form 5500 Responses for JOLLY'S PHARMACY, INC. 401(K) PROFIT SHARING PLAN

2021: JOLLY'S PHARMACY, 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: JOLLY'S PHARMACY, 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: JOLLY'S PHARMACY, 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 – InsuranceYes
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement – InsuranceYes
2019-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number528289
Policy instance 1

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