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MIDSOUTH BUSINESS SOLUTIONS, INC 401(K) PLAN 401k Plan overview

Plan NameMIDSOUTH BUSINESS SOLUTIONS, INC 401(K) PLAN
Plan identification number 001

MIDSOUTH BUSINESS SOLUTIONS, INC 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.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Plan covering Self-Employed individuals.
  • 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) received services of leased employees, as defined in Code section 414(n), during the plan year.

401k Sponsoring company profile

MIDSOUTH BUSINESS SOLUTIONS, INC has sponsored the creation of one or more 401k plans.

Company Name:MIDSOUTH BUSINESS SOLUTIONS, INC
Employer identification number (EIN):471504877
NAIC Classification:561300

Additional information about MIDSOUTH BUSINESS SOLUTIONS, INC

Jurisdiction of Incorporation: Alabama Secretary of State
Incorporation Date: 2014-07-23
Company Identification Number: 314-611
Legal Registered Office Address: 1048 KNOLLWOOD DR BIRMINGHAM,


United States of America (USA)
35242

More information about MIDSOUTH BUSINESS SOLUTIONS, INC

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MIDSOUTH BUSINESS SOLUTIONS, INC 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01DANIEL MORGAN2024-09-18
0012022-01-01
0012021-01-01
0012020-01-01
0012019-01-01
0012018-01-01
0012017-07-01
0012016-07-01DANIEL MORGAN DANIEL MORGAN2018-04-14
0012015-07-01DANIEL MORGAN DANIEL MORGAN2017-08-08
0012014-07-24DANIEL MORGAN DANIEL MORGAN2016-04-11

Plan Statistics for MIDSOUTH BUSINESS SOLUTIONS, INC 401(K) PLAN

401k plan membership statisitcs for MIDSOUTH BUSINESS SOLUTIONS, INC 401(K) PLAN

Measure Date Value
2016: MIDSOUTH BUSINESS SOLUTIONS, INC 401(K) PLAN 2016 401k membership
Total participants, beginning-of-year2016-07-018
Total number of active participants reported on line 7a of the Form 55002016-07-016
Number of retired or separated participants receiving benefits2016-07-010
Number of other retired or separated participants entitled to future benefits2016-07-010
Total of all active and inactive participants2016-07-016
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-07-010
Total participants2016-07-016
Number of participants with account balances2016-07-014
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-07-010
2015: MIDSOUTH BUSINESS SOLUTIONS, INC 401(K) PLAN 2015 401k membership
Total participants, beginning-of-year2015-07-015
Total number of active participants reported on line 7a of the Form 55002015-07-0112
Number of retired or separated participants receiving benefits2015-07-010
Number of other retired or separated participants entitled to future benefits2015-07-010
Total of all active and inactive participants2015-07-0112
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-07-010
Total participants2015-07-0112
Number of participants with account balances2015-07-014
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-07-010
2014: MIDSOUTH BUSINESS SOLUTIONS, INC 401(K) PLAN 2014 401k membership
Total participants, beginning-of-year2014-07-240
Total number of active participants reported on line 7a of the Form 55002014-07-245
Number of retired or separated participants receiving benefits2014-07-240
Number of other retired or separated participants entitled to future benefits2014-07-240
Total of all active and inactive participants2014-07-245
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-07-240
Total participants2014-07-245
Number of participants with account balances2014-07-242
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-07-240

Financial Data on MIDSOUTH BUSINESS SOLUTIONS, INC 401(K) PLAN

Measure Date Value
2017 : MIDSOUTH BUSINESS SOLUTIONS, INC 401(K) PLAN 2017 401k financial data
Transfers to/from the plan2017-06-30$0
Total plan liabilities at end of year2017-06-30$0
Total plan liabilities at beginning of year2017-06-30$0
Total income from all sources2017-06-30$5,208
Expenses. Total of all expenses incurred2017-06-30$401
Benefits paid (including direct rollovers)2017-06-30$401
Total plan assets at end of year2017-06-30$6,629
Total plan assets at beginning of year2017-06-30$1,822
Total contributions received or receivable from participants2017-06-30$5,986
Expenses. Other expenses not covered elsewhere2017-06-30$0
Contributions received from other sources (not participants or employers)2017-06-30$0
Other income received2017-06-30$-778
Noncash contributions received2017-06-30$0
Net income (gross income less expenses)2017-06-30$4,807
Net plan assets at end of year (total assets less liabilities)2017-06-30$6,629
Net plan assets at beginning of year (total assets less liabilities)2017-06-30$1,822
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022017-06-30$489
Total contributions received or receivable from employer(s)2017-06-30$0
Value of certain deemed distributions of participant loans2017-06-30$0
Value of corrective distributions2017-06-30$0
Expenses. Administrative service providers (salaries,fees and commissions)2017-06-30$0
2016 : MIDSOUTH BUSINESS SOLUTIONS, INC 401(K) PLAN 2016 401k financial data
Transfers to/from the plan2016-06-30$0
Total plan liabilities at end of year2016-06-30$0
Total plan liabilities at beginning of year2016-06-30$0
Total income from all sources2016-06-30$49,553
Expenses. Total of all expenses incurred2016-06-30$179,854
Benefits paid (including direct rollovers)2016-06-30$179,854
Total plan assets at end of year2016-06-30$1,821
Total plan assets at beginning of year2016-06-30$132,122
Total contributions received or receivable from participants2016-06-30$1,579
Expenses. Other expenses not covered elsewhere2016-06-30$0
Contributions received from other sources (not participants or employers)2016-06-30$0
Other income received2016-06-30$47,974
Noncash contributions received2016-06-30$0
Net income (gross income less expenses)2016-06-30$-130,301
Net plan assets at end of year (total assets less liabilities)2016-06-30$1,821
Net plan assets at beginning of year (total assets less liabilities)2016-06-30$132,122
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022016-06-30$489
Assets. Value of employer securities2016-06-30$0
Value of certain deemed distributions of participant loans2016-06-30$0
Value of corrective distributions2016-06-30$0
Expenses. Administrative service providers (salaries,fees and commissions)2016-06-30$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2016-06-30$0
2015 : MIDSOUTH BUSINESS SOLUTIONS, INC 401(K) PLAN 2015 401k financial data
Transfers to/from the plan2015-06-30$0
Total plan liabilities at end of year2015-06-30$0
Total plan liabilities at beginning of year2015-06-30$0
Total income from all sources2015-06-30$132,122
Expenses. Total of all expenses incurred2015-06-30$0
Benefits paid (including direct rollovers)2015-06-30$0
Total plan assets at end of year2015-06-30$132,122
Total plan assets at beginning of year2015-06-30$0
Total contributions received or receivable from participants2015-06-30$0
Expenses. Other expenses not covered elsewhere2015-06-30$0
Contributions received from other sources (not participants or employers)2015-06-30$166,307
Other income received2015-06-30$-34,185
Noncash contributions received2015-06-30$0
Net income (gross income less expenses)2015-06-30$132,122
Net plan assets at end of year (total assets less liabilities)2015-06-30$132,122
Net plan assets at beginning of year (total assets less liabilities)2015-06-30$0
Assets. Value of employer securities2015-06-30$131,883
Total contributions received or receivable from employer(s)2015-06-30$0
Value of certain deemed distributions of participant loans2015-06-30$0
Value of corrective distributions2015-06-30$0
Expenses. Administrative service providers (salaries,fees and commissions)2015-06-30$0

Form 5500 Responses for MIDSOUTH BUSINESS SOLUTIONS, INC 401(K) PLAN

2016: MIDSOUTH BUSINESS SOLUTIONS, INC 401(K) PLAN 2016 form 5500 responses
2016-07-01Type of plan entitySingle employer plan
2016-07-01Submission has been amendedNo
2016-07-01This submission is the final filingNo
2016-07-01This return/report is a short plan year return/report (less than 12 months)No
2016-07-01Plan is a collectively bargained planNo
2016-07-01Plan funding arrangement – TrustYes
2016-07-01Plan benefit arrangement - TrustYes
2015: MIDSOUTH BUSINESS SOLUTIONS, INC 401(K) PLAN 2015 form 5500 responses
2015-07-01Type of plan entitySingle employer plan
2015-07-01Submission has been amendedNo
2015-07-01This submission is the final filingNo
2015-07-01This return/report is a short plan year return/report (less than 12 months)No
2015-07-01Plan is a collectively bargained planNo
2015-07-01Plan funding arrangement – TrustYes
2015-07-01Plan benefit arrangement - TrustYes
2014: MIDSOUTH BUSINESS SOLUTIONS, INC 401(K) PLAN 2014 form 5500 responses
2014-07-24Type of plan entitySingle employer plan
2014-07-24First time form 5500 has been submittedYes
2014-07-24Submission has been amendedNo
2014-07-24This submission is the final filingNo
2014-07-24This return/report is a short plan year return/report (less than 12 months)Yes
2014-07-24Plan is a collectively bargained planNo
2014-07-24Plan funding arrangement – TrustYes
2014-07-24Plan benefit arrangement - TrustYes

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