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MEYERS CONSTRUCTORS, INC. 401(K) PLAN 401k Plan overview

Plan NameMEYERS CONSTRUCTORS, INC. 401(K) PLAN
Plan identification number 001

MEYERS CONSTRUCTORS, 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.
  • 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.
  • 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

MEYERS CONSTRUCTORS, INC. has sponsored the creation of one or more 401k plans.

Company Name:MEYERS CONSTRUCTORS, INC.
Employer identification number (EIN):473332724
NAIC Classification:238100

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MEYERS CONSTRUCTORS, INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01JASON MEYERS2024-06-18
0012022-01-01JASON MEYERS2023-12-20
0012021-01-01
0012020-01-01
0012019-01-01
0012018-01-01
0012017-01-01

Plan Statistics for MEYERS CONSTRUCTORS, INC. 401(K) PLAN

401k plan membership statisitcs for MEYERS CONSTRUCTORS, INC. 401(K) PLAN

Measure Date Value
2023: MEYERS CONSTRUCTORS, INC. 401(K) PLAN 2023 401k membership
Total participants, beginning-of-year2023-01-01145
Total number of active participants reported on line 7a of the Form 55002023-01-01119
Number of retired or separated participants receiving benefits2023-01-010
Number of other retired or separated participants entitled to future benefits2023-01-0142
Total of all active and inactive participants2023-01-01161
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2023-01-010
Total participants2023-01-01161
Number of participants with account balances2023-01-01154
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2023-01-010
2022: MEYERS CONSTRUCTORS, INC. 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01186
Total number of active participants reported on line 7a of the Form 55002022-01-0196
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-0140
Total of all active and inactive participants2022-01-01136
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01136
Number of participants with account balances2022-01-01128
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010

Financial Data on MEYERS CONSTRUCTORS, INC. 401(K) PLAN

Measure Date Value
2023 : MEYERS CONSTRUCTORS, INC. 401(K) PLAN 2023 401k financial data
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-12-31$10,124
Total income from all sources (including contributions)2023-12-31$1,891,877
Total of all expenses incurred2023-12-31$1,289,868
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2023-12-31$1,272,164
Total contributions o plan (from employers,participants, others, non cash contrinutions)2023-12-31$1,367,690
Value of total assets at end of year2023-12-31$4,484,424
Value of total assets at beginning of year2023-12-31$3,892,539
Total of administrative expenses incurred including professional, contract, advisory and management fees2023-12-31$17,704
Total interest from all sources2023-12-31$2,664
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2023-12-31No
Was this plan covered by a fidelity bond2023-12-31Yes
Value of fidelity bond cover2023-12-31$450,000
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$279,714
Participant contributions at end of year2023-12-31$46,690
Participant contributions at beginning of year2023-12-31$14,563
Participant contributions at end of year2023-12-31$0
Participant contributions at beginning of year2023-12-31$62
Income. Received or receivable in cash from other sources (including rollovers)2023-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2023-12-31$10,124
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
Income. Non cash contributions2023-12-31$0
Value of net income/loss2023-12-31$602,009
Value of net assets at end of year (total assets less liabilities)2023-12-31$4,484,424
Value of net assets at beginning of year (total assets less liabilities)2023-12-31$3,882,415
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$4,429,786
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2023-12-31$3,873,973
Interest on participant loans2023-12-31$2,593
Interest earned on other investments2023-12-31$71
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2023-12-31$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2023-12-31$521,523
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$1,087,976
Employer contributions (assets) at end of year2023-12-31$7,948
Employer contributions (assets) at beginning of year2023-12-31$3,941
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2023-12-31$1,272,164
Contract administrator fees2023-12-31$17,704
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 plan2023-12-31Unqualified
Accountancy firm name2023-12-31KIMBERLIN COMPANY, PLLC
Accountancy firm EIN2023-12-31455497718
2022 : MEYERS CONSTRUCTORS, INC. 401(K) PLAN 2022 401k financial data
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$10,124
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$2,237
Total income from all sources (including contributions)2022-12-31$603,637
Total of all expenses incurred2022-12-31$1,041,422
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$1,029,017
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$1,111,463
Value of total assets at end of year2022-12-31$3,892,191
Value of total assets at beginning of year2022-12-31$4,319,852
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$12,405
Total interest from all sources2022-12-31$68
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$118,659
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Administrative expenses professional fees incurred2022-12-31$12,405
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$450,000
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
Contributions received from participants2022-12-31$241,441
Participant contributions at end of year2022-12-31$14,563
Participant contributions at end of year2022-12-31$62
Participant contributions at beginning of year2022-12-31$-2,175
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$57,906
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2022-12-31$10,124
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2022-12-31$2,237
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-437,785
Value of net assets at end of year (total assets less liabilities)2022-12-31$3,882,067
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$4,319,852
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
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-12-31$3,888,536
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$4,318,161
Interest on participant loans2022-12-31$185
Interest earned on other investments2022-12-31$-117
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-507,894
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
Contributions received in cash from employer2022-12-31$812,116
Employer contributions (assets) at end of year2022-12-31$3,655
Employer contributions (assets) at beginning of year2022-12-31$3,866
Income. Dividends from preferred stock2022-12-31$118,659
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$1,029,017
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
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31KIMBERLIN COMPANY, PLLC
Accountancy firm EIN2022-12-31455497718

Form 5500 Responses for MEYERS CONSTRUCTORS, INC. 401(K) PLAN

2023: MEYERS CONSTRUCTORS, INC. 401(K) PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01Submission has been amendedNo
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 planNo
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement - TrustYes
2022: MEYERS CONSTRUCTORS, INC. 401(K) 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

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