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POTOMAC MANAGEMENT GROUP, INC. 401(K) PROFIT SHARING PLAN AND TRUST 401k Plan overview

Plan NamePOTOMAC MANAGEMENT GROUP, INC. 401(K) PROFIT SHARING PLAN AND TRUST
Plan identification number 001

POTOMAC MANAGEMENT GROUP, INC. 401(K) PROFIT SHARING PLAN AND TRUST 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.

401k Sponsoring company profile

POTOMAC MANAGEMENT GROUP, INC. has sponsored the creation of one or more 401k plans.

Company Name:POTOMAC MANAGEMENT GROUP, INC.
Employer identification number (EIN):541651720

Additional information about POTOMAC MANAGEMENT GROUP, INC.

Jurisdiction of Incorporation: Virginia Secretary of State
Incorporation Date: 1992-11-18
Company Identification Number: 0400915
Legal Registered Office Address: Bank of America Center, 16th Floor
1111 East Main Street
RICHMOND
United States of America (USA)
23219

More information about POTOMAC MANAGEMENT GROUP, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan POTOMAC MANAGEMENT GROUP, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012007-01-01HENRY BELLEFLEUR

Plan Statistics for POTOMAC MANAGEMENT GROUP, INC. 401(K) PROFIT SHARING PLAN AND TRUST

401k plan membership statisitcs for POTOMAC MANAGEMENT GROUP, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Measure Date Value
2007: POTOMAC MANAGEMENT GROUP, INC. 401(K) PROFIT SHARING PLAN AND TRUST 2007 401k membership
Total participants, beginning-of-year2007-01-01179
Total number of active participants reported on line 7a of the Form 55002007-01-010
Number of retired or separated participants receiving benefits2007-01-010
Number of other retired or separated participants entitled to future benefits2007-01-010
Total of all active and inactive participants2007-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2007-01-010
Total participants2007-01-010
Number of participants with account balances2007-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2007-01-010

Financial Data on POTOMAC MANAGEMENT GROUP, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Measure Date Value
2007 : POTOMAC MANAGEMENT GROUP, INC. 401(K) PROFIT SHARING PLAN AND TRUST 2007 401k financial data
Total unrealized appreciation/depreciation of assets2007-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2007-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2007-12-31$0
Total income from all sources (including contributions)2007-12-31$468,187
Total loss/gain on sale of assets2007-12-31$0
Total of all expenses incurred2007-12-31$2,243,765
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2007-12-31$2,170,006
Value of total corrective distributions2007-12-31$63,011
Total contributions o plan (from employers,participants, others, non cash contrinutions)2007-12-31$286,275
Value of total assets at end of year2007-12-31$0
Value of total assets at beginning of year2007-12-31$1,775,578
Total of administrative expenses incurred including professional, contract, advisory and management fees2007-12-31$10,748
Total interest from all sources2007-12-31$32
Total dividends received (eg from common stock, registered investment company shares)2007-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2007-12-31Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2007-12-31$0
Was this plan covered by a fidelity bond2007-12-31Yes
Value of fidelity bond cover2007-12-31$100,000
Were there any nonexempt tranactions with any party-in-interest2007-12-31No
Contributions received from participants2007-12-31$243,336
Participant contributions at end of year2007-12-31$0
Participant contributions at beginning of year2007-12-31$2,453
Other income not declared elsewhere2007-12-31$30,584
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2007-12-31No
Value of net income/loss2007-12-31$-1,775,578
Value of net assets at end of year (total assets less liabilities)2007-12-31$0
Value of net assets at beginning of year (total assets less liabilities)2007-12-31$1,775,578
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2007-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2007-12-31No
Were any leases to which the plan was party in default or uncollectible2007-12-31No
Value of interest in pooled separate accounts at end of year2007-12-31$0
Value of interest in pooled separate accounts at beginning of year2007-12-31$1,773,125
Interest on participant loans2007-12-31$32
Net investment gain/loss from pooled separate accounts2007-12-31$151,296
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2007-12-31No
Was there a failure to transmit to the plan any participant contributions2007-12-31No
Contributions received in cash from employer2007-12-31$42,939
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2007-12-31$2,170,006
Contract administrator fees2007-12-31$10,748
Did the plan have assets held for investment2007-12-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2007-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2007-12-31Yes
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2007-12-31Yes
Opinion of an independent qualified public accountant for this plan2007-12-31Disclaimer
Accountancy firm name2007-12-31GRANT THORNTON LLP
Accountancy firm EIN2007-12-31366055558

Form 5500 Responses for POTOMAC MANAGEMENT GROUP, INC. 401(K) PROFIT SHARING PLAN AND TRUST

2007: POTOMAC MANAGEMENT GROUP, INC. 401(K) PROFIT SHARING PLAN AND TRUST 2007 form 5500 responses
2007-01-01Type of plan entitySingle employer plan
2007-01-01Submission has been amendedYes
2007-01-01This submission is the final filingYes
2007-01-01This return/report is a short plan year return/report (less than 12 months)No
2007-01-01Plan is a collectively bargained planNo
2007-01-01Plan funding arrangement – InsuranceYes
2007-01-01Plan funding arrangement – TrustYes
2007-01-01Plan benefit arrangement – InsuranceYes
2007-01-01Plan benefit arrangement - TrustYes

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