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CASTLE MUSIC 401K PLAN 401k Plan overview

Plan NameCASTLE MUSIC 401K PLAN
Plan identification number 001

CASTLE MUSIC 401K 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.
  • 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

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

Company Name:SUMMIT MUSIC, INC.
Employer identification number (EIN):341458081
NAIC Classification:451140
NAIC Description:Musical Instrument and Supplies Stores

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CASTLE MUSIC 401K PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012019-01-01
0012018-01-01
0012017-01-01
0012016-01-01DENNIS R. WINCHELL2017-08-28
0012015-01-01DENNIS R. WINCHELL
0012014-01-01DENNIS R. WINCHELL
0012013-01-01DENNIS R. WINCHELL
0012012-01-01DENNIS R. WINCHELL
0012011-01-01DENNIS R. WINCHELL
0012009-01-01DENNIS R. WINCHELL

Plan Statistics for CASTLE MUSIC 401K PLAN

401k plan membership statisitcs for CASTLE MUSIC 401K PLAN

Measure Date Value
2015: CASTLE MUSIC 401K PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-017
Total number of active participants reported on line 7a of the Form 55002015-01-012
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-010
Total of all active and inactive participants2015-01-012
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-012
Number of participants with account balances2015-01-012
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-010
2014: CASTLE MUSIC 401K PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-016
Total number of active participants reported on line 7a of the Form 55002014-01-017
Number of retired or separated participants receiving benefits2014-01-010
Number of other retired or separated participants entitled to future benefits2014-01-010
Total of all active and inactive participants2014-01-017
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-017
Number of participants with account balances2014-01-017
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-010
2013: CASTLE MUSIC 401K PLAN 2013 401k membership
Total participants, beginning-of-year2013-01-017
Total number of active participants reported on line 7a of the Form 55002013-01-016
Number of retired or separated participants receiving benefits2013-01-010
Number of other retired or separated participants entitled to future benefits2013-01-010
Total of all active and inactive participants2013-01-016
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-010
Total participants2013-01-016
Number of participants with account balances2013-01-016
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-011
2012: CASTLE MUSIC 401K PLAN 2012 401k membership
Total participants, beginning-of-year2012-01-016
Total number of active participants reported on line 7a of the Form 55002012-01-017
Number of retired or separated participants receiving benefits2012-01-010
Number of other retired or separated participants entitled to future benefits2012-01-010
Total of all active and inactive participants2012-01-017
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-01-010
Total participants2012-01-017
Number of participants with account balances2012-01-017
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-010
2011: CASTLE MUSIC 401K PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-017
Total number of active participants reported on line 7a of the Form 55002011-01-016
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-010
Total of all active and inactive participants2011-01-016
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-016
Number of participants with account balances2011-01-016
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-011
2009: CASTLE MUSIC 401K PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-017
Total number of active participants reported on line 7a of the Form 55002009-01-016
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-010
Total of all active and inactive participants2009-01-016
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-016
Number of participants with account balances2009-01-016
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

Financial Data on CASTLE MUSIC 401K PLAN

Measure Date Value
2015 : CASTLE MUSIC 401K PLAN 2015 401k financial data
Total income from all sources2015-12-31$223,218
Expenses. Total of all expenses incurred2015-12-31$132,081
Benefits paid (including direct rollovers)2015-12-31$126,409
Total plan assets at end of year2015-12-31$681,226
Total plan assets at beginning of year2015-12-31$590,089
Value of fidelity bond covering the plan2015-12-31$75,000
Total contributions received or receivable from participants2015-12-31$49,736
Contributions received from other sources (not participants or employers)2015-12-31$148,219
Other income received2015-12-31$20,600
Net income (gross income less expenses)2015-12-31$91,137
Net plan assets at end of year (total assets less liabilities)2015-12-31$681,226
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$590,089
Total contributions received or receivable from employer(s)2015-12-31$4,663
Expenses. Administrative service providers (salaries,fees and commissions)2015-12-31$5,672
2014 : CASTLE MUSIC 401K PLAN 2014 401k financial data
Total income from all sources2014-12-31$78,923
Expenses. Total of all expenses incurred2014-12-31$5,270
Total plan assets at end of year2014-12-31$590,089
Total plan assets at beginning of year2014-12-31$516,436
Value of fidelity bond covering the plan2014-12-31$75,000
Total contributions received or receivable from participants2014-12-31$52,080
Other income received2014-12-31$18,624
Net income (gross income less expenses)2014-12-31$73,653
Net plan assets at end of year (total assets less liabilities)2014-12-31$590,089
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$516,436
Total contributions received or receivable from employer(s)2014-12-31$8,219
Expenses. Administrative service providers (salaries,fees and commissions)2014-12-31$5,270
2013 : CASTLE MUSIC 401K PLAN 2013 401k financial data
Total income from all sources2013-12-31$86,353
Expenses. Total of all expenses incurred2013-12-31$23,905
Benefits paid (including direct rollovers)2013-12-31$19,133
Total plan assets at end of year2013-12-31$516,436
Total plan assets at beginning of year2013-12-31$453,988
Value of fidelity bond covering the plan2013-12-31$75,000
Total contributions received or receivable from participants2013-12-31$52,699
Expenses. Other expenses not covered elsewhere2013-12-31$4,772
Other income received2013-12-31$24,904
Net income (gross income less expenses)2013-12-31$62,448
Net plan assets at end of year (total assets less liabilities)2013-12-31$516,436
Net plan assets at beginning of year (total assets less liabilities)2013-12-31$453,988
Total contributions received or receivable from employer(s)2013-12-31$8,750
2012 : CASTLE MUSIC 401K PLAN 2012 401k financial data
Total income from all sources2012-12-31$79,630
Expenses. Total of all expenses incurred2012-12-31$3,972
Total plan assets at end of year2012-12-31$453,988
Total plan assets at beginning of year2012-12-31$378,330
Value of fidelity bond covering the plan2012-12-31$50,000
Total contributions received or receivable from participants2012-12-31$51,999
Expenses. Other expenses not covered elsewhere2012-12-31$3,972
Other income received2012-12-31$18,688
Net income (gross income less expenses)2012-12-31$75,658
Net plan assets at end of year (total assets less liabilities)2012-12-31$453,988
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$378,330
Total contributions received or receivable from employer(s)2012-12-31$8,943
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-31$0
2011 : CASTLE MUSIC 401K PLAN 2011 401k financial data
Total income from all sources2011-12-31$67,561
Expenses. Total of all expenses incurred2011-12-31$6,250
Benefits paid (including direct rollovers)2011-12-31$2,868
Total plan assets at end of year2011-12-31$378,330
Total plan assets at beginning of year2011-12-31$317,019
Value of fidelity bond covering the plan2011-12-31$50,000
Total contributions received or receivable from participants2011-12-31$49,219
Other income received2011-12-31$10,940
Net income (gross income less expenses)2011-12-31$61,311
Net plan assets at end of year (total assets less liabilities)2011-12-31$378,330
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$317,019
Total contributions received or receivable from employer(s)2011-12-31$7,402
Expenses. Administrative service providers (salaries,fees and commissions)2011-12-31$3,382
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
2010 : CASTLE MUSIC 401K PLAN 2010 401k financial data
Total income from all sources2010-12-31$71,829
Expenses. Total of all expenses incurred2010-12-31$2,669
Benefits paid (including direct rollovers)2010-12-31$0
Total plan assets at end of year2010-12-31$317,019
Total plan assets at beginning of year2010-12-31$247,859
Value of fidelity bond covering the plan2010-12-31$50,000
Total contributions received or receivable from participants2010-12-31$51,027
Other income received2010-12-31$12,527
Net income (gross income less expenses)2010-12-31$69,160
Net plan assets at end of year (total assets less liabilities)2010-12-31$317,019
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$247,859
Total contributions received or receivable from employer(s)2010-12-31$8,275
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-31$2,669
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
2009 : CASTLE MUSIC 401K 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 CASTLE MUSIC 401K PLAN

2015: CASTLE MUSIC 401K PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Plan funding arrangement – InsuranceYes
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement – InsuranceYes
2015-01-01Plan benefit arrangement - TrustYes
2014: CASTLE MUSIC 401K PLAN 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Plan funding arrangement – InsuranceYes
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement – InsuranceYes
2014-01-01Plan benefit arrangement - TrustYes
2013: CASTLE MUSIC 401K PLAN 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Plan funding arrangement – InsuranceYes
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement – InsuranceYes
2013-01-01Plan benefit arrangement - TrustYes
2012: CASTLE MUSIC 401K 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: CASTLE MUSIC 401K PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedNo
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – InsuranceYes
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement – InsuranceYes
2011-01-01Plan benefit arrangement - TrustYes
2009: CASTLE MUSIC 401K 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 – InsuranceYes
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement – InsuranceYes
2009-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

THE LINCOLN NATIONAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65676 )
Policy contract numberGP63579
Policy instance 1
Insurance contract or identification numberGP63579
Number of Individuals Covered2
Insurance policy start date2015-01-01
Insurance policy end date2015-12-31
Total amount of commissions paid to insurance brokerUSD $1,437
Total amount of fees paid to insurance companyUSD $30
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $1,437
Amount paid for insurance broker fees30
Insurance broker organization code?4
Insurance broker nameHORNOR TOWNSEND & KENT INC
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65676 )
Policy contract numberGP63579
Policy instance 1
Insurance contract or identification numberGP63579
Number of Individuals Covered7
Insurance policy start date2014-01-01
Insurance policy end date2014-12-31
Total amount of commissions paid to insurance brokerUSD $1,357
Total amount of fees paid to insurance companyUSD $36
Are there contracts with allocated funds for types other than group deferred annuity or individual?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Other information about contractGROUP VAR ANNUITY W/GUARANTEED FUND
Commission paid to Insurance BrokerUSD $1,357
Amount paid for insurance broker fees36
Insurance broker organization code?4
Insurance broker nameHORNOR TOWNSEND & KENT INC
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65676 )
Policy contract numberGP63579
Policy instance 1
Insurance contract or identification numberGP63579
Number of Individuals Covered6
Insurance policy start date2013-01-01
Insurance policy end date2013-12-31
Total amount of commissions paid to insurance brokerUSD $898
Total amount of fees paid to insurance companyUSD $25
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $898
Amount paid for insurance broker fees25
Insurance broker organization code?4
Insurance broker nameHORNOR TOWNSEND & KENT INC
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65676 )
Policy contract numberGP63579
Policy instance 1
Insurance contract or identification numberGP63579
Number of Individuals Covered8
Insurance policy start date2012-01-01
Insurance policy end date2012-12-31
Total amount of commissions paid to insurance brokerUSD $1,017
Total amount of fees paid to insurance companyUSD $26
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $1,017
Amount paid for insurance broker fees26
Additional information about fees paid to insurance brokerAGENT OR BROKER OTHER THAN INSURANCE
Insurance broker organization code?4
Insurance broker nameHORNOR TOWNSEND & KENT INC
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65676 )
Policy contract numberGP63579
Policy instance 1
Insurance contract or identification numberGP63579
Number of Individuals Covered7
Insurance policy start date2011-01-01
Insurance policy end date2011-12-31
Total amount of commissions paid to insurance brokerUSD $853
Total amount of fees paid to insurance companyUSD $107
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
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65676 )
Policy contract numberGP63579
Policy instance 1
Insurance contract or identification numberGP63579
Number of Individuals Covered7
Insurance policy start date2010-01-01
Insurance policy end date2010-12-31
Total amount of commissions paid to insurance brokerUSD $679
Total amount of fees paid to insurance companyUSD $238
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
Commission paid to Insurance BrokerUSD $679
Amount paid for insurance broker fees10
Additional information about fees paid to insurance brokerAGENT OR BROKER OTHER THAN INSURANCE
Insurance broker organization code?4
Insurance broker nameEMPLOYERS SELECT PLAN AGENCY

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