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ALFRED PALMA, LLC 401K PLAN 401k Plan overview

Plan NameALFRED PALMA, LLC 401K PLAN
Plan identification number 001

ALFRED PALMA, LLC 401K 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.
  • 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.

401k Sponsoring company profile

ALFRED PALMA, LLC has sponsored the creation of one or more 401k plans.

Company Name:ALFRED PALMA, LLC
Employer identification number (EIN):721079444
NAIC Classification:237990
NAIC Description:Other Heavy and Civil Engineering Construction

Form 5500 Filing Information

Submission information for form 5500 for 401k plan ALFRED PALMA, LLC 401K PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01SARA S FRANCE2023-07-10
0012021-01-01SARA S FRANCE2022-06-14 SARA S FRANCE2022-05-12
0012020-01-01SARA S FRANCE2021-06-15
0012019-01-01SARA FRANCE2020-06-08 SARA FRANCE2020-06-08
0012018-01-01SARA FRANCE2019-05-13 SARA FRANCE2019-05-13
0012017-01-01SARA FRANCE2018-07-16 SARA FRANCE2018-07-16
0012016-01-01JESSICA REEVES - BOOKKEEPER2017-06-16 JESSICA REEVES - BOOKKEEPER2017-06-16
0012015-01-01JESSICA REEVES - BOOKKEEPER2016-06-17 ALFRED A. PALMA JR. - PRESIDENT2016-06-17
0012014-01-01JESSICA REEVES

Plan Statistics for ALFRED PALMA, LLC 401K PLAN

401k plan membership statisitcs for ALFRED PALMA, LLC 401K PLAN

Measure Date Value
2014: ALFRED PALMA, LLC 401K PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-0152
Total number of active participants reported on line 7a of the Form 55002014-01-0154
Number of retired or separated participants receiving benefits2014-01-010
Number of other retired or separated participants entitled to future benefits2014-01-011
Total of all active and inactive participants2014-01-0155
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-0155
Number of participants with account balances2014-01-0124
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-010

Financial Data on ALFRED PALMA, LLC 401K PLAN

Measure Date Value
2014 : ALFRED PALMA, LLC 401K PLAN 2014 401k financial data
Transfers to/from the plan2014-12-31$0
Total income from all sources2014-12-31$219,058
Expenses. Total of all expenses incurred2014-12-31$2,220
Benefits paid (including direct rollovers)2014-12-31$0
Total plan assets at end of year2014-12-31$216,838
Total plan assets at beginning of year2014-12-31$0
Value of fidelity bond covering the plan2014-12-31$30,000
Total contributions received or receivable from participants2014-12-31$128,580
Expenses. Other expenses not covered elsewhere2014-12-31$2,220
Contributions received from other sources (not participants or employers)2014-12-31$31,777
Other income received2014-12-31$2,960
Net income (gross income less expenses)2014-12-31$216,838
Net plan assets at end of year (total assets less liabilities)2014-12-31$216,838
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$0
Assets. Value of participant loans2014-12-31$0
Total contributions received or receivable from employer(s)2014-12-31$55,741
Value of certain deemed distributions of participant loans2014-12-31$0
Value of corrective distributions2014-12-31$0

Form 5500 Responses for ALFRED PALMA, LLC 401K PLAN

2014: ALFRED PALMA, LLC 401K PLAN 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01First time form 5500 has been submittedYes
2014-01-01Submission has been amendedNo
2014-01-01This submission is the final filingNo
2014-01-01This return/report is a short plan year return/report (less than 12 months)No
2014-01-01Plan is a collectively bargained planNo
2014-01-01Plan funding arrangement – InsuranceYes
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement – InsuranceYes

Insurance Providers Used on plan

HARTFORD LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 88072 )
Policy contract numberGA-833787
Policy instance 1
Insurance contract or identification numberGA-833787
Number of Individuals Covered24
Insurance policy start date2014-01-01
Insurance policy end date2014-12-31
Total amount of commissions paid to insurance brokerUSD $124
Total amount of fees paid to insurance companyUSD $0
Are there contracts with allocated funds for individual policies?No
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $124
Insurance broker organization code?3
Insurance broker nameWOODBURY FIN SVCS INC

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