401k Plan data: PALOMINO PETROLEUM 401(K) PLAN plan

PALOMINO PETROLEUM 401(K) PLAN 401k Plan overview

Plan Name	PALOMINO PETROLEUM 401(K) PLAN
Plan identification number	001

PALOMINO PETROLEUM 401(K) PLAN Benefits

401k Plan Type

Defined 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.
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

PALOMINO PETROLEUM, INC. has sponsored the creation of one or more 401k plans.

Company Name: PALOMINO PETROLEUM, INC.

Employer identification number (EIN): 481100377

NAIC Classification: 211120
NAIC Description: Crude Petroleum Extraction

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PALOMINO PETROLEUM 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
001 2023-01-01
001 2022-01-01
001 2021-01-01
001 2020-01-01
001 2019-01-01 NICHOLAS P. GERSTNER 2020-10-14
001 2019-01-01 NICHOLAS P. GERSTNER 2021-03-04
001 2018-01-01 NICHOLAS P. GERSTNER 2019-10-09

Plan Statistics for PALOMINO PETROLEUM 401(K) PLAN

401k plan membership statisitcs for PALOMINO PETROLEUM 401(K) PLAN

Measure Date Value
2019: PALOMINO PETROLEUM 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year 2019-01-01 229
Total number of active participants reported on line 7a of the Form 5500 2019-01-01 16
Number of retired or separated participants receiving benefits 2019-01-01 0
Number of other retired or separated participants entitled to future benefits 2019-01-01 15
Total of all active and inactive participants 2019-01-01 31
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2019-01-01 0
Total participants 2019-01-01 31
Number of participants with account balances 2019-01-01 26
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2019-01-01 0
2018: PALOMINO PETROLEUM 401(K) PLAN 2018 401k membership
Total participants, beginning-of-year 2018-01-01 108
Total number of active participants reported on line 7a of the Form 5500 2018-01-01 120
Number of retired or separated participants receiving benefits 2018-01-01 0
Number of other retired or separated participants entitled to future benefits 2018-01-01 43
Total of all active and inactive participants 2018-01-01 163
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2018-01-01 0
Total participants 2018-01-01 163
Number of participants with account balances 2018-01-01 138
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2018-01-01 33

Measure	Date	Value
2019: PALOMINO PETROLEUM 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year	2019-01-01	229
Total number of active participants reported on line 7a of the Form 5500	2019-01-01	16
Number of retired or separated participants receiving benefits	2019-01-01	0
Number of other retired or separated participants entitled to future benefits	2019-01-01	15
Total of all active and inactive participants	2019-01-01	31
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2019-01-01	0
Total participants	2019-01-01	31
Number of participants with account balances	2019-01-01	26
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2019-01-01	0
2018: PALOMINO PETROLEUM 401(K) PLAN 2018 401k membership
Total participants, beginning-of-year	2018-01-01	108
Total number of active participants reported on line 7a of the Form 5500	2018-01-01	120
Number of retired or separated participants receiving benefits	2018-01-01	0
Number of other retired or separated participants entitled to future benefits	2018-01-01	43
Total of all active and inactive participants	2018-01-01	163
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2018-01-01	0
Total participants	2018-01-01	163
Number of participants with account balances	2018-01-01	138
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2018-01-01	33

Financial Data on PALOMINO PETROLEUM 401(K) PLAN

Measure	Date	Value
2019 : PALOMINO PETROLEUM 401(K) PLAN 2019 401k financial data
Total income from all sources (including contributions)	2019-12-31	$568,570
Total of all expenses incurred	2019-12-31	$1,429,542
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2019-12-31	$1,405,925
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2019-12-31	$363,117
Value of total assets at end of year	2019-12-31	$426,476
Value of total assets at beginning of year	2019-12-31	$1,287,448
Total of administrative expenses incurred including professional, contract, advisory and management fees	2019-12-31	$23,617
Total interest from all sources	2019-12-31	$380
Total dividends received (eg from common stock, registered investment company shares)	2019-12-31	$24,123
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2019-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2019-12-31	$24,123
Was this plan covered by a fidelity bond	2019-12-31	Yes
Value of fidelity bond cover	2019-12-31	$100,000
If this is an individual account plan, was there a blackout period	2019-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2019-12-31	No
Contributions received from participants	2019-12-31	$189,085
Participant contributions at end of year	2019-12-31	$1,429
Participant contributions at beginning of year	2019-12-31	$10,775
Income. Received or receivable in cash from other sources (including rollovers)	2019-12-31	$10,067
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2019-12-31	No
Value of net income/loss	2019-12-31	$-860,972
Value of net assets at end of year (total assets less liabilities)	2019-12-31	$426,476
Value of net assets at beginning of year (total assets less liabilities)	2019-12-31	$1,287,448
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2019-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2019-12-31	No
Were any leases to which the plan was party in default or uncollectible	2019-12-31	No
Investment advisory and management fees	2019-12-31	$11,865
Value of interest in registered invesment companies (eg mutual funds) at end of year	2019-12-31	$423,794
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2019-12-31	$1,244,258
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2019-12-31	$380
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year	2019-12-31	$24,564
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2019-12-31	$180,950
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2019-12-31	No
Was there a failure to transmit to the plan any participant contributions	2019-12-31	Yes
Has the plan failed to provide any benefit when due under the plan	2019-12-31	No
Contributions received in cash from employer	2019-12-31	$163,965
Employer contributions (assets) at end of year	2019-12-31	$1,253
Employer contributions (assets) at beginning of year	2019-12-31	$7,851
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2019-12-31	$1,405,925
Contract administrator fees	2019-12-31	$11,752
Did the plan have assets held for investment	2019-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2019-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2019-12-31	No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2019-12-31	Yes
Opinion of an independent qualified public accountant for this plan	2019-12-31	Disclaimer
Accountancy firm name	2019-12-31	BKD, LLP
Accountancy firm EIN	2019-12-31	440160260
2018 : PALOMINO PETROLEUM 401(K) PLAN 2018 401k financial data
Total income from all sources (including contributions)	2018-12-31	$317,494
Total of all expenses incurred	2018-12-31	$257,312
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2018-12-31	$237,429
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2018-12-31	$385,156
Value of total assets at end of year	2018-12-31	$1,287,448
Value of total assets at beginning of year	2018-12-31	$1,227,266
Total of administrative expenses incurred including professional, contract, advisory and management fees	2018-12-31	$19,883
Total interest from all sources	2018-12-31	$265
Total dividends received (eg from common stock, registered investment company shares)	2018-12-31	$22,611
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2018-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2018-12-31	$22,611
Was this plan covered by a fidelity bond	2018-12-31	Yes
Value of fidelity bond cover	2018-12-31	$129,000
If this is an individual account plan, was there a blackout period	2018-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2018-12-31	No
Contributions received from participants	2018-12-31	$230,701
Participant contributions at end of year	2018-12-31	$10,775
Participant contributions at beginning of year	2018-12-31	$973
Income. Received or receivable in cash from other sources (including rollovers)	2018-12-31	$23,117
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2018-12-31	No
Value of net income/loss	2018-12-31	$60,182
Value of net assets at end of year (total assets less liabilities)	2018-12-31	$1,287,448
Value of net assets at beginning of year (total assets less liabilities)	2018-12-31	$1,227,266
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2018-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2018-12-31	No
Were any leases to which the plan was party in default or uncollectible	2018-12-31	No
Investment advisory and management fees	2018-12-31	$12,750
Value of interest in registered invesment companies (eg mutual funds) at end of year	2018-12-31	$1,244,258
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2018-12-31	$1,205,975
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2018-12-31	$265
Value of funds held in insurance company general accounts (unallocated contracts) at end of year	2018-12-31	$24,564
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year	2018-12-31	$20,318
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2018-12-31	$-90,538
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2018-12-31	No
Was there a failure to transmit to the plan any participant contributions	2018-12-31	Yes
Has the plan failed to provide any benefit when due under the plan	2018-12-31	No
Contributions received in cash from employer	2018-12-31	$131,338
Employer contributions (assets) at end of year	2018-12-31	$7,851
Employer contributions (assets) at beginning of year	2018-12-31	$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2018-12-31	$237,429
Contract administrator fees	2018-12-31	$7,133
Did the plan have assets held for investment	2018-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2018-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2018-12-31	No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2018-12-31	Yes
Opinion of an independent qualified public accountant for this plan	2018-12-31	Disclaimer
Accountancy firm name	2018-12-31	BKD, LLP
Accountancy firm EIN	2018-12-31	440160260

Form 5500 Responses for PALOMINO PETROLEUM 401(K) PLAN

2019: PALOMINO PETROLEUM 401(K) PLAN 2019 form 5500 responses
2019-01-01	Type of plan entity	Single employer plan
2019-01-01	Submission has been amended	No
2019-01-01	This submission is the final filing	No
2019-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2019-01-01	Plan is a collectively bargained plan	No
2019-01-01	Plan funding arrangement – Insurance	Yes
2019-01-01	Plan funding arrangement – Trust	Yes
2019-01-01	Plan benefit arrangement - Trust	Yes
2018: PALOMINO PETROLEUM 401(K) PLAN 2018 form 5500 responses
2018-01-01	Type of plan entity	Single employer plan
2018-01-01	Submission has been amended	No
2018-01-01	This submission is the final filing	No
2018-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2018-01-01	Plan is a collectively bargained plan	No
2018-01-01	Plan funding arrangement – Insurance	Yes
2018-01-01	Plan funding arrangement – Trust	Yes
2018-01-01	Plan benefit arrangement - Trust	Yes

Insurance Providers Used on plan

NATIONWIDE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66869 )

Policy contract number

GAP-B2-KJ1Y

Policy instance

Insurance contract or identification number	GAP-B2-KJ1Y
Number of Individuals Covered	7
Insurance policy start date	2019-01-01
Insurance policy end date	2019-12-31
Total amount of commissions paid to insurance broker	USD $94
Total amount of fees paid to insurance company	USD $0
Are there contracts with unallocated funds for contracts of type 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 Broker	USD $68
Insurance broker organization code?	3

NATIONWIDE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66869 )

Policy contract number

GAP-B2-DK3B

Policy instance

Insurance contract or identification number	GAP-B2-DK3B
Number of Individuals Covered	5
Insurance policy start date	2018-01-01
Insurance policy end date	2018-12-31
Total amount of commissions paid to insurance broker	USD $111
Total amount of fees paid to insurance company	USD $0
Are there contracts with unallocated funds for contracts of type 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 Broker	USD $111
Insurance broker organization code?	3

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See full terms and conditions

Company Name:	PALOMINO PETROLEUM, INC.
Employer identification number (EIN):	481100377
NAIC Classification:	211120
NAIC Description:	Crude Petroleum Extraction

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed
001	2023-01-01
001	2022-01-01
001	2021-01-01
001	2020-01-01
001	2019-01-01	NICHOLAS P. GERSTNER	2020-10-14
001	2019-01-01	NICHOLAS P. GERSTNER	2021-03-04
001	2018-01-01	NICHOLAS P. GERSTNER	2019-10-09