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THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN 401k Plan overview

Plan NameTHE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN
Plan identification number 004

THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Leveraged ESOP - An ESOP that acquires employer securities with borrowed money or other debt-financing techniques. A completed Schedule E must be attached to a Form 5500 filed for an ESOP.
  • The employer maintaining this ESOP is an S Corporation
  • Plan requiring that all or part of employer contributions be invested and held, at least for a limited period, in employer securities.

401k Sponsoring company profile

RITCHIE TRUCKING SERVICE HOLDINGS, INC. has sponsored the creation of one or more 401k plans.

Company Name:RITCHIE TRUCKING SERVICE HOLDINGS, INC.
Employer identification number (EIN):384101587
NAIC Classification:484110
NAIC Description:General Freight Trucking, Local

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0042022-01-01
0042021-01-01
0042020-01-01
0042019-01-01
0042018-01-01

Plan Statistics for THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN

401k plan membership statisitcs for THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2022: THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01125
Total number of active participants reported on line 7a of the Form 55002022-01-0167
Number of retired or separated participants receiving benefits2022-01-011
Number of other retired or separated participants entitled to future benefits2022-01-0138
Total of all active and inactive participants2022-01-01106
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01106
Number of participants with account balances2022-01-01106
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-011
2021: THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-01116
Total number of active participants reported on line 7a of the Form 55002021-01-0187
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-0117
Total of all active and inactive participants2021-01-01104
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-01104
Number of participants with account balances2021-01-01102
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-0114
2020: THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-0184
Total number of active participants reported on line 7a of the Form 55002020-01-0162
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-0123
Total of all active and inactive participants2020-01-0185
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-0185
Number of participants with account balances2020-01-0182
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-0120
2019: THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-0185
Total number of active participants reported on line 7a of the Form 55002019-01-0174
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-011
Total of all active and inactive participants2019-01-0175
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-0175
Number of participants with account balances2019-01-0173
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-011
2018: THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-0166
Total number of active participants reported on line 7a of the Form 55002018-01-0176
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-010
Total of all active and inactive participants2018-01-0176
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-0176
Number of participants with account balances2018-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010

Financial Data on THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2022 : THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN 2022 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2022-12-31$-179,999
Total unrealized appreciation/depreciation of assets2022-12-31$-179,999
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$18,528,022
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$18,794,293
Expenses. Interest paid2022-12-31$622,091
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022022-12-31$622,091
Total income from all sources (including contributions)2022-12-31$725,706
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$638,811
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$16,720
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$905,705
Value of total assets at end of year2022-12-31$3,900,724
Value of total assets at beginning of year2022-12-31$4,080,100
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$0
Total interest from all sources2022-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$0
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$500,000
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Value of other receiveables (less allowance for doubtful accounts) at end of year2022-12-31$624
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2022-12-31$0
Total non interest bearing cash at end of year2022-12-31$100
Total non interest bearing cash at beginning of year2022-12-31$100
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$86,895
Value of net assets at end of year (total assets less liabilities)2022-12-31$-14,627,298
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$-14,714,193
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Assets. Invements in employer securities at end of year2022-12-31$3,900,000
Assets. Invements in employer securities at beginning of year2022-12-31$4,080,000
Contributions received in cash from employer2022-12-31$905,705
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$16,720
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Liabilities. Value of acquisition indebtedness at end of year2022-12-31$18,528,022
Liabilities. Value of acquisition indebtedness at beginning of year2022-12-31$18,794,293
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31PW PARTNERS
Accountancy firm EIN2022-12-31833323563
2021 : THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN 2021 401k financial data
Total plan liabilities at end of year2021-12-31$18,794,293
Total plan liabilities at beginning of year2021-12-31$19,947,884
Total income from all sources2021-12-31$1,046,609
Expenses. Total of all expenses incurred2021-12-31$648,871
Benefits paid (including direct rollovers)2021-12-31$18,249
Total plan assets at end of year2021-12-31$4,080,100
Total plan assets at beginning of year2021-12-31$4,835,953
Value of fidelity bond covering the plan2021-12-31$500,000
Expenses. Other expenses not covered elsewhere2021-12-31$630,622
Other income received2021-12-31$139,999
Net income (gross income less expenses)2021-12-31$397,738
Net plan assets at end of year (total assets less liabilities)2021-12-31$-14,714,193
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$-15,111,931
Assets. Value of employer securities2021-12-31$4,080,000
Total contributions received or receivable from employer(s)2021-12-31$906,610
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
2020 : THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN 2020 401k financial data
Total plan liabilities at end of year2020-12-31$19,947,884
Total plan liabilities at beginning of year2020-12-31$19,301,512
Total income from all sources2020-12-31$896,522
Expenses. Total of all expenses incurred2020-12-31$647,041
Benefits paid (including direct rollovers)2020-12-31$669
Total plan assets at end of year2020-12-31$4,835,953
Total plan assets at beginning of year2020-12-31$3,940,100
Value of fidelity bond covering the plan2020-12-31$500,000
Expenses. Other expenses not covered elsewhere2020-12-31$646,372
Other income received2020-12-31$0
Net income (gross income less expenses)2020-12-31$249,481
Net plan assets at end of year (total assets less liabilities)2020-12-31$-15,111,931
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$-15,361,412
Assets. Value of employer securities2020-12-31$3,940,000
Total contributions received or receivable from employer(s)2020-12-31$896,522
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
2019 : THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN 2019 401k financial data
Total plan liabilities at end of year2019-12-31$19,301,512
Total plan liabilities at beginning of year2019-12-31$19,543,000
Total income from all sources2019-12-31$3,668,461
Expenses. Total of all expenses incurred2019-12-31$646,873
Total plan assets at end of year2019-12-31$3,940,100
Total plan assets at beginning of year2019-12-31$1,160,000
Value of fidelity bond covering the plan2019-12-31$500,000
Expenses. Other expenses not covered elsewhere2019-12-31$646,873
Other income received2019-12-31$2,780,000
Net income (gross income less expenses)2019-12-31$3,021,588
Net plan assets at end of year (total assets less liabilities)2019-12-31$-15,361,412
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$-18,383,000
Assets. Value of employer securities2019-12-31$3,940,000
Total contributions received or receivable from employer(s)2019-12-31$888,461
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
2018 : THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN 2018 401k financial data
Total plan liabilities at end of year2018-12-31$19,543,000
Total plan liabilities at beginning of year2018-12-31$0
Total income from all sources2018-12-31$-18,383,000
Expenses. Total of all expenses incurred2018-12-31$0
Total plan assets at end of year2018-12-31$1,160,000
Total plan assets at beginning of year2018-12-31$0
Value of fidelity bond covering the plan2018-12-31$500,000
Other income received2018-12-31$-18,383,000
Net income (gross income less expenses)2018-12-31$-18,383,000
Net plan assets at end of year (total assets less liabilities)2018-12-31$-18,383,000
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$0
Assets. Value of employer securities2018-12-31$1,160,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2018-12-31$0

Form 5500 Responses for THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN

2022: THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedYes
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedNo
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingNo
2020-01-01This return/report is a short plan year return/report (less than 12 months)No
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP 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 – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: THE PEOPLE BUSINESS EMPLOYEE STOCK OWNERSHIP PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01First time form 5500 has been submittedYes
2018-01-01Submission has been amendedNo
2018-01-01This submission is the final filingNo
2018-01-01This return/report is a short plan year return/report (less than 12 months)No
2018-01-01Plan is a collectively bargained planNo
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes

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