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TIME-O-MATIC, INC. FACTORY EMPLOYEES 401(K) PLAN 401k Plan overview

Plan NameTIME-O-MATIC, INC. FACTORY EMPLOYEES 401(K) PLAN
Plan identification number 002

TIME-O-MATIC, INC. FACTORY EMPLOYEES 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • 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.
  • 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

WATCHFIRE SIGNS, LLC has sponsored the creation of one or more 401k plans.

Company Name:WATCHFIRE SIGNS, LLC
Employer identification number (EIN):370925634
NAIC Classification:335900

Form 5500 Filing Information

Submission information for form 5500 for 401k plan TIME-O-MATIC, INC. FACTORY EMPLOYEES 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022024-01-01SHELLY DOWERS
0022023-01-01
0022023-01-01SHELLY DOWERS
0022022-01-01ADAM GRIMES2023-10-06 ADAM GRIMES2023-10-06
0022021-01-01ADAM GRIMES2022-10-13 ADAM GRIMES2022-10-13
0022020-01-01MARLA HAGLER2021-08-17 ADAM GRIMES2021-08-17
0022019-01-01MARLA HAGLER2020-09-01 ADAM GRIMES2020-09-01
0022018-01-01MARLA HAGLER2019-08-15
0022017-01-01MARLA HAGLER2018-07-13
0022016-01-01ADAM GRIMES2017-10-10
0022015-01-01ADAM W. GRIMES2016-06-27
0022014-01-01ADAM GRIMES2015-06-22
0022013-01-01ADAM GRIMES2014-07-09 ADAM GRIMES2014-07-09
0022012-01-01REBECCA DEGNER2013-06-26 REBECCA DEGNER2013-06-26
0022011-01-01REBECCADEGNER12012-05-18
0022010-01-01RANDALL BERG
0022009-01-01SARAH TUFTE

Financial Data on TIME-O-MATIC, INC. FACTORY EMPLOYEES 401(K) PLAN

Measure Date Value
2023 : TIME-O-MATIC, INC. FACTORY EMPLOYEES 401(K) PLAN 2023 401k financial data
Total unrealized appreciation/depreciation of assets2023-12-31$0
Total transfer of assets from this plan2023-12-31$17,151
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-12-31$0
Total income from all sources (including contributions)2023-12-31$665,043
Total loss/gain on sale of assets2023-12-31$0
Total of all expenses incurred2023-12-31$244,421
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2023-12-31$236,517
Total contributions o plan (from employers,participants, others, non cash contrinutions)2023-12-31$377,859
Value of total assets at end of year2023-12-31$2,529,000
Value of total assets at beginning of year2023-12-31$2,125,529
Total of administrative expenses incurred including professional, contract, advisory and management fees2023-12-31$7,904
Total interest from all sources2023-12-31$17,635
Total dividends received (eg from common stock, registered investment company shares)2023-12-31$45,758
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2023-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2023-12-31$45,758
Was this plan covered by a fidelity bond2023-12-31Yes
Value of fidelity bond cover2023-12-31$1,000,000
If this is an individual account plan, was there a blackout period2023-12-31No
Were there any nonexempt tranactions with any party-in-interest2023-12-31No
Contributions received from participants2023-12-31$273,368
Participant contributions at end of year2023-12-31$129,042
Participant contributions at beginning of year2023-12-31$96,754
Participant contributions at beginning of year2023-12-31$4,788
Other income not declared elsewhere2023-12-31$223
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2023-12-31No
Value of net income/loss2023-12-31$420,622
Value of net assets at end of year (total assets less liabilities)2023-12-31$2,529,000
Value of net assets at beginning of year (total assets less liabilities)2023-12-31$2,125,529
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2023-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2023-12-31No
Were any leases to which the plan was party in default or uncollectible2023-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2023-12-31$1,896,701
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2023-12-31$1,549,449
Interest on participant loans2023-12-31$8,030
Interest earned on other investments2023-12-31$9,605
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2023-12-31$503,257
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2023-12-31$472,492
Net investment gain/loss from registered investment companies (e.g. mutual funds)2023-12-31$223,568
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2023-12-31No
Was there a failure to transmit to the plan any participant contributions2023-12-31Yes
Has the plan failed to provide any benefit when due under the plan2023-12-31No
Contributions received in cash from employer2023-12-31$104,491
Employer contributions (assets) at beginning of year2023-12-31$2,046
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2023-12-31$236,517
Contract administrator fees2023-12-31$7,904
Did the plan have assets held for investment2023-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2023-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2023-12-31No
Opinion of an independent qualified public accountant for this plan2023-12-31Qualified
Accountancy firm name2023-12-31CROWE LLP
Accountancy firm EIN2023-12-31350921680
Total unrealized appreciation/depreciation of assets2023-01-01$0
Total transfer of assets from this plan2023-01-01$17,151
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-01-01$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-01-01$0
Total income from all sources (including contributions)2023-01-01$665,043
Total loss/gain on sale of assets2023-01-01$0
Total of all expenses incurred2023-01-01$244,421
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2023-01-01$236,517
Total contributions o plan (from employers,participants, others, non cash contrinutions)2023-01-01$377,859
Value of total assets at end of year2023-01-01$2,529,000
Value of total assets at beginning of year2023-01-01$2,125,529
Total of administrative expenses incurred including professional, contract, advisory and management fees2023-01-01$7,904
Total interest from all sources2023-01-01$17,635
Total dividends received (eg from common stock, registered investment company shares)2023-01-01$45,758
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2023-01-01No
Total dividends received from registered investment company shares (eg mutual funds)2023-01-01$45,758
Was this plan covered by a fidelity bond2023-01-01Yes
Value of fidelity bond cover2023-01-01$1,000,000
If this is an individual account plan, was there a blackout period2023-01-01No
Were there any nonexempt tranactions with any party-in-interest2023-01-01No
Contributions received from participants2023-01-01$273,368
Participant contributions at end of year2023-01-01$129,042
Participant contributions at beginning of year2023-01-01$96,754
Participant contributions at beginning of year2023-01-01$4,788
Other income not declared elsewhere2023-01-01$223
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2023-01-01No
Value of net income/loss2023-01-01$420,622
Value of net assets at end of year (total assets less liabilities)2023-01-01$2,529,000
Value of net assets at beginning of year (total assets less liabilities)2023-01-01$2,125,529
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2023-01-01No
Were any loans by the plan or fixed income obligations due to the plan in default2023-01-01No
Were any leases to which the plan was party in default or uncollectible2023-01-01No
Value of interest in registered invesment companies (eg mutual funds) at end of year2023-01-01$1,896,701
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2023-01-01$1,549,449
Interest on participant loans2023-01-01$8,030
Interest earned on other investments2023-01-01$9,605
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2023-01-01$503,257
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2023-01-01$472,492
Net investment gain/loss from registered investment companies (e.g. mutual funds)2023-01-01$223,568
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2023-01-01No
Was there a failure to transmit to the plan any participant contributions2023-01-01Yes
Has the plan failed to provide any benefit when due under the plan2023-01-01No
Contributions received in cash from employer2023-01-01$104,491
Employer contributions (assets) at beginning of year2023-01-01$2,046
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2023-01-01$236,517
Contract administrator fees2023-01-01$7,904
Did the plan have assets held for investment2023-01-01Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2023-01-01No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2023-01-01No
Opinion of an independent qualified public accountant for this plan2023-01-012
Accountancy firm name2023-01-01CROWE LLP
Accountancy firm EIN2023-01-01350921680
2010 : TIME-O-MATIC, INC. FACTORY EMPLOYEES 401(K) PLAN 2010 401k financial data
Total income from all sources2010-12-31$86,648
Expenses. Total of all expenses incurred2010-12-31$49,083
Benefits paid (including direct rollovers)2010-12-31$45,296
Total plan assets at end of year2010-12-31$409,696
Total plan assets at beginning of year2010-12-31$371,531
Value of fidelity bond covering the plan2010-12-31$5,000,000
Total contributions received or receivable from participants2010-12-31$32,967
Contributions received from other sources (not participants or employers)2010-12-31$520
Other income received2010-12-31$36,728
Net income (gross income less expenses)2010-12-31$37,565
Net plan assets at end of year (total assets less liabilities)2010-12-31$409,696
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$371,531
Assets. Value of participant loans2010-12-31$8,913
Total contributions received or receivable from employer(s)2010-12-31$16,433
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-31$3,787
2009 : TIME-O-MATIC, INC. FACTORY EMPLOYEES 401(K) 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 TIME-O-MATIC, INC. FACTORY EMPLOYEES 401(K) PLAN

2023: TIME-O-MATIC, INC. FACTORY EMPLOYEES 401(K) PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01This submission is the final filingNo
2023-01-01This return/report is a short plan year return/report (less than 12 months)No
2023-01-01Plan is a collectively bargained planYes
2023-01-01Plan funding arrangement – InsuranceYes
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement – InsuranceYes
2023-01-01Plan benefit arrangement - TrustYes
2010: TIME-O-MATIC, INC. FACTORY EMPLOYEES 401(K) PLAN 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedNo
2010-01-01This submission is the final filingNo
2010-01-01This return/report is a short plan year return/report (less than 12 months)No
2010-01-01Plan is a collectively bargained planYes
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement - TrustYes
2009: TIME-O-MATIC, INC. FACTORY EMPLOYEES 401(K) 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 planYes
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number467968
Policy instance 1
Insurance contract or identification number467968
Number of Individuals Covered131
Insurance policy start date2023-01-01
Insurance policy end date2023-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
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

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