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SEA BREEZE ELECTRIC, INC. 401(K) PLAN 401k Plan overview

Plan NameSEA BREEZE ELECTRIC, INC. 401(K) PLAN
Plan identification number 001

SEA BREEZE ELECTRIC, INC. 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • 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.

401k Sponsoring company profile

SEABREEZE ELECTRIC, INC. has sponsored the creation of one or more 401k plans.

Company Name:SEABREEZE ELECTRIC, INC.
Employer identification number (EIN):650874411
NAIC Classification:238210
NAIC Description:Electrical Contractors and Other Wiring Installation Contractors

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SEA BREEZE ELECTRIC, INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012020-01-01
0012019-01-01RANDY BESOSA2020-09-25
0012018-01-01RANDY BESOSA2019-10-11
0012017-01-01
0012016-01-01
0012015-01-01

Plan Statistics for SEA BREEZE ELECTRIC, INC. 401(K) PLAN

401k plan membership statisitcs for SEA BREEZE ELECTRIC, INC. 401(K) PLAN

Measure Date Value
2019: SEA BREEZE ELECTRIC, INC. 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-01238
Total number of active participants reported on line 7a of the Form 55002019-01-010
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-0127
Total of all active and inactive participants2019-01-0127
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-0127
Number of participants with account balances2019-01-0127
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: SEA BREEZE ELECTRIC, INC. 401(K) PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-01232
Total number of active participants reported on line 7a of the Form 55002018-01-01187
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-0123
Total of all active and inactive participants2018-01-01210
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-01210
Number of participants with account balances2018-01-0166
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010
2017: SEA BREEZE ELECTRIC, INC. 401(K) PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-01273
Total number of active participants reported on line 7a of the Form 55002017-01-01204
Number of retired or separated participants receiving benefits2017-01-010
Number of other retired or separated participants entitled to future benefits2017-01-0127
Total of all active and inactive participants2017-01-01231
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-01231
Number of participants with account balances2017-01-0166
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-010
2016: SEA BREEZE ELECTRIC, INC. 401(K) PLAN 2016 401k membership
Total participants, beginning-of-year2016-01-01266
Total number of active participants reported on line 7a of the Form 55002016-01-01218
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-0114
Total of all active and inactive participants2016-01-01232
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-01232
Number of participants with account balances2016-01-0149
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-010

Financial Data on SEA BREEZE ELECTRIC, INC. 401(K) PLAN

Measure Date Value
2019 : SEA BREEZE ELECTRIC, INC. 401(K) PLAN 2019 401k financial data
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$4,953
Total income from all sources (including contributions)2019-12-31$178,404
Total of all expenses incurred2019-12-31$397,974
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-12-31$358,437
Expenses. Certain deemed distributions of participant loans2019-12-31$28,631
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-12-31$83,706
Value of total assets at end of year2019-12-31$302,177
Value of total assets at beginning of year2019-12-31$526,700
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-12-31$10,906
Total interest from all sources2019-12-31$929
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-12-31Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2019-12-31$0
Was this plan covered by a fidelity bond2019-12-31Yes
Value of fidelity bond cover2019-12-31$60,000
If this is an individual account plan, was there a blackout period2019-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
Were there any nonexempt tranactions with any party-in-interest2019-12-31No
Contributions received from participants2019-12-31$55,740
Participant contributions at end of year2019-12-31$6,736
Participant contributions at beginning of year2019-12-31$20,167
Participant contributions at end of year2019-12-31$0
Participant contributions at beginning of year2019-12-31$117
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2019-12-31$4,953
Other income not declared elsewhere2019-12-31$406
Administrative expenses (other) incurred2019-12-31$10,906
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Value of net income/loss2019-12-31$-219,570
Value of net assets at end of year (total assets less liabilities)2019-12-31$302,177
Value of net assets at beginning of year (total assets less liabilities)2019-12-31$521,747
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2019-12-31No
Were any leases to which the plan was party in default or uncollectible2019-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2019-12-31$266,422
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2019-12-31$462,753
Interest on participant loans2019-12-31$490
Interest earned on other investments2019-12-31$439
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2019-12-31$29,019
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2019-12-31$43,663
Net investment gain/loss from pooled separate accounts2019-12-31$93,363
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-12-31No
Was there a failure to transmit to the plan any participant contributions2019-12-31No
Has the plan failed to provide any benefit when due under the plan2019-12-31No
Contributions received in cash from employer2019-12-31$27,966
Employer contributions (assets) at end of year2019-12-31$0
Employer contributions (assets) at beginning of year2019-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-12-31$358,437
Did the plan have assets held for investment2019-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2019-12-31Yes
Opinion of an independent qualified public accountant for this plan2019-12-31Disclaimer
Accountancy firm name2019-12-31DASZKAL BOLTON, LLP
Accountancy firm EIN2019-12-31650406502
2018 : SEA BREEZE ELECTRIC, INC. 401(K) PLAN 2018 401k financial data
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2018-12-31$4,953
Total income from all sources (including contributions)2018-12-31$185,288
Total of all expenses incurred2018-12-31$241,137
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2018-12-31$227,924
Expenses. Certain deemed distributions of participant loans2018-12-31$5,087
Total contributions o plan (from employers,participants, others, non cash contrinutions)2018-12-31$213,558
Value of total assets at end of year2018-12-31$526,700
Value of total assets at beginning of year2018-12-31$577,596
Total of administrative expenses incurred including professional, contract, advisory and management fees2018-12-31$8,126
Total interest from all sources2018-12-31$992
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2018-12-31No
Was this plan covered by a fidelity bond2018-12-31Yes
Value of fidelity bond cover2018-12-31$60,000
If this is an individual account plan, was there a blackout period2018-12-31No
Were there any nonexempt tranactions with any party-in-interest2018-12-31No
Contributions received from participants2018-12-31$129,260
Participant contributions at end of year2018-12-31$20,167
Participant contributions at beginning of year2018-12-31$7,204
Participant contributions at end of year2018-12-31$117
Participant contributions at beginning of year2018-12-31$2,089
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2018-12-31$4,953
Other income not declared elsewhere2018-12-31$717
Administrative expenses (other) incurred2018-12-31$8,126
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2018-12-31No
Value of net income/loss2018-12-31$-55,849
Value of net assets at end of year (total assets less liabilities)2018-12-31$521,747
Value of net assets at beginning of year (total assets less liabilities)2018-12-31$577,596
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2018-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2018-12-31No
Were any leases to which the plan was party in default or uncollectible2018-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2018-12-31$462,753
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2018-12-31$526,713
Interest on participant loans2018-12-31$636
Interest earned on other investments2018-12-31$356
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2018-12-31$43,663
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2018-12-31$38,200
Net investment gain/loss from pooled separate accounts2018-12-31$-29,979
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2018-12-31No
Was there a failure to transmit to the plan any participant contributions2018-12-31No
Has the plan failed to provide any benefit when due under the plan2018-12-31No
Contributions received in cash from employer2018-12-31$84,298
Employer contributions (assets) at end of year2018-12-31$0
Employer contributions (assets) at beginning of year2018-12-31$3,390
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2018-12-31$227,924
Did the plan have assets held for investment2018-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2018-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2018-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2018-12-31Yes
Opinion of an independent qualified public accountant for this plan2018-12-31Disclaimer
Accountancy firm name2018-12-31DASZKAL BOLTON LLP
Accountancy firm EIN2018-12-31650406502
2017 : SEA BREEZE ELECTRIC, INC. 401(K) PLAN 2017 401k financial data
Total income from all sources (including contributions)2017-12-31$285,415
Total of all expenses incurred2017-12-31$55,909
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2017-12-31$50,066
Total contributions o plan (from employers,participants, others, non cash contrinutions)2017-12-31$219,755
Value of total assets at end of year2017-12-31$577,596
Value of total assets at beginning of year2017-12-31$348,090
Total of administrative expenses incurred including professional, contract, advisory and management fees2017-12-31$5,843
Total interest from all sources2017-12-31$521
Was this plan covered by a fidelity bond2017-12-31Yes
Value of fidelity bond cover2017-12-31$60,000
If this is an individual account plan, was there a blackout period2017-12-31No
Were there any nonexempt tranactions with any party-in-interest2017-12-31No
Contributions received from participants2017-12-31$131,081
Participant contributions at end of year2017-12-31$7,204
Participant contributions at beginning of year2017-12-31$13,296
Participant contributions at end of year2017-12-31$2,089
Participant contributions at beginning of year2017-12-31$5,651
Income. Received or receivable in cash from other sources (including rollovers)2017-12-31$2,296
Other income not declared elsewhere2017-12-31$212
Administrative expenses (other) incurred2017-12-31$5,843
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2017-12-31No
Value of net income/loss2017-12-31$229,506
Value of net assets at end of year (total assets less liabilities)2017-12-31$577,596
Value of net assets at beginning of year (total assets less liabilities)2017-12-31$348,090
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2017-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2017-12-31No
Were any leases to which the plan was party in default or uncollectible2017-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2017-12-31$526,713
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2017-12-31$307,490
Interest on participant loans2017-12-31$521
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2017-12-31$38,200
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2017-12-31$21,536
Net investment gain/loss from pooled separate accounts2017-12-31$64,927
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2017-12-31No
Was there a failure to transmit to the plan any participant contributions2017-12-31No
Has the plan failed to provide any benefit when due under the plan2017-12-31No
Contributions received in cash from employer2017-12-31$86,378
Employer contributions (assets) at end of year2017-12-31$3,390
Employer contributions (assets) at beginning of year2017-12-31$117
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2017-12-31$50,066
Did the plan have assets held for investment2017-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2017-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2017-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2017-12-31Yes
Opinion of an independent qualified public accountant for this plan2017-12-31Disclaimer
Accountancy firm name2017-12-31DASZKAL BOLTON LLP
Accountancy firm EIN2017-12-31650406502
2016 : SEA BREEZE ELECTRIC, INC. 401(K) PLAN 2016 401k financial data
Total income from all sources (including contributions)2016-12-31$210,139
Total of all expenses incurred2016-12-31$23,308
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2016-12-31$18,696
Total contributions o plan (from employers,participants, others, non cash contrinutions)2016-12-31$185,928
Value of total assets at end of year2016-12-31$348,090
Value of total assets at beginning of year2016-12-31$161,259
Total of administrative expenses incurred including professional, contract, advisory and management fees2016-12-31$4,612
Total interest from all sources2016-12-31$250
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2016-12-31No
Was this plan covered by a fidelity bond2016-12-31Yes
Value of fidelity bond cover2016-12-31$40,000
If this is an individual account plan, was there a blackout period2016-12-31No
Were there any nonexempt tranactions with any party-in-interest2016-12-31No
Contributions received from participants2016-12-31$110,437
Participant contributions at end of year2016-12-31$13,296
Participant contributions at beginning of year2016-12-31$2,526
Participant contributions at end of year2016-12-31$5,651
Participant contributions at beginning of year2016-12-31$1,956
Other income not declared elsewhere2016-12-31$1,363
Administrative expenses (other) incurred2016-12-31$4,612
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Value of net income/loss2016-12-31$186,831
Value of net assets at end of year (total assets less liabilities)2016-12-31$348,090
Value of net assets at beginning of year (total assets less liabilities)2016-12-31$161,259
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2016-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2016-12-31No
Were any leases to which the plan was party in default or uncollectible2016-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2016-12-31$307,490
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2016-12-31$140,160
Interest on participant loans2016-12-31$250
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2016-12-31$21,536
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2016-12-31$10,537
Net investment gain/loss from pooled separate accounts2016-12-31$22,598
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2016-12-31No
Was there a failure to transmit to the plan any participant contributions2016-12-31No
Has the plan failed to provide any benefit when due under the plan2016-12-31No
Contributions received in cash from employer2016-12-31$75,491
Employer contributions (assets) at end of year2016-12-31$117
Employer contributions (assets) at beginning of year2016-12-31$6,080
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2016-12-31$18,696
Did the plan have assets held for investment2016-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2016-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2016-12-31Yes
Opinion of an independent qualified public accountant for this plan2016-12-31Disclaimer
Accountancy firm name2016-12-31DASZKAL BOLTON LLP
Accountancy firm EIN2016-12-31650406502

Form 5500 Responses for SEA BREEZE ELECTRIC, INC. 401(K) PLAN

2019: SEA BREEZE ELECTRIC, INC. 401(K) PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Plan funding arrangement – InsuranceYes
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: SEA BREEZE ELECTRIC, INC. 401(K) PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Plan funding arrangement – InsuranceYes
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: SEA BREEZE ELECTRIC, INC. 401(K) PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Plan funding arrangement – InsuranceYes
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: SEA BREEZE ELECTRIC, INC. 401(K) PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Plan funding arrangement – InsuranceYes
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

TRANSAMERICA LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 86231 )
Policy contract number805858
Policy instance 1
Insurance contract or identification number805858
Insurance policy start date2019-01-01
Insurance policy end date2019-12-31
Total amount of commissions paid to insurance brokerUSD $2,579
Total amount of fees paid to insurance companyUSD $255
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or 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 BrokerUSD $2,579
Insurance broker organization code?3
Amount paid for insurance broker fees255
TRANSAMERICA LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 86231 )
Policy contract number805858
Policy instance 1
Insurance contract or identification number805858
Number of Individuals Covered66
Insurance policy start date2018-01-01
Insurance policy end date2018-12-31
Total amount of commissions paid to insurance brokerUSD $2,958
Total amount of fees paid to insurance companyUSD $296
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or 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 BrokerUSD $2,958
Insurance broker organization code?3
Amount paid for insurance broker fees296
TRANSAMERICA LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 86231 )
Policy contract number805858
Policy instance 1
Insurance contract or identification number805858
Number of Individuals Covered66
Insurance policy start date2017-01-01
Insurance policy end date2017-12-31
Total amount of commissions paid to insurance brokerUSD $2,237
Total amount of fees paid to insurance companyUSD $226
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or 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 BrokerUSD $2,237
Insurance broker organization code?3
Amount paid for insurance broker fees226
Insurance broker nameTHE PENSION STUDIO, LLC

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