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SWIFTSHIPS RETIREMENT SAVINGS PLAN 401k Plan overview

Plan NameSWIFTSHIPS RETIREMENT SAVINGS PLAN
Plan identification number 001

SWIFTSHIPS RETIREMENT SAVINGS PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • 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.
  • Prototype plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion or notification letter; and under which a seperate funding medium (for example, a seperate trust or custodial account) is established for the use of each adopting employer.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

SWIFTSHIPS SHIPBUILDERS LLC has sponsored the creation of one or more 401k plans.

Company Name:SWIFTSHIPS SHIPBUILDERS LLC
Employer identification number (EIN):721449482
NAIC Classification:336610

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SWIFTSHIPS RETIREMENT SAVINGS PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012012-01-01RICKIE BERTRAND RICKIE BERTRAND2014-01-21
0012010-01-01HUSSAIN ASKARI2011-05-18 HUSSAIN ASKARI2011-05-18
0012008-01-01RICKIE BERTRAND
0012007-01-01RICKIE BERTRAND
0012006-01-01RICKIE BERTRAND

Plan Statistics for SWIFTSHIPS RETIREMENT SAVINGS PLAN

401k plan membership statisitcs for SWIFTSHIPS RETIREMENT SAVINGS PLAN

Measure Date Value
2012: SWIFTSHIPS RETIREMENT SAVINGS PLAN 2012 401k membership
Total participants, beginning-of-year2012-01-01208
Total number of active participants reported on line 7a of the Form 55002012-01-01102
Number of retired or separated participants receiving benefits2012-01-010
Number of other retired or separated participants entitled to future benefits2012-01-018
Total of all active and inactive participants2012-01-01110
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-01-011
Total participants2012-01-01111
Number of participants with account balances2012-01-0173
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-0153
2008: SWIFTSHIPS RETIREMENT SAVINGS PLAN 2008 401k membership
Total participants, beginning-of-year2008-01-0167
Total number of active participants reported on line 7a of the Form 55002008-01-0155
Number of other retired or separated participants entitled to future benefits2008-01-012
Total of all active and inactive participants2008-01-0157
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2008-01-011
Total participants2008-01-0158
Number of participants with account balances2008-01-0136
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2008-01-014
2007: SWIFTSHIPS RETIREMENT SAVINGS PLAN 2007 401k membership
Total participants, beginning-of-year2007-01-0178
Total number of active participants reported on line 7a of the Form 55002007-01-0168
Number of other retired or separated participants entitled to future benefits2007-01-013
Total of all active and inactive participants2007-01-0171
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2007-01-011
Total participants2007-01-0172
Number of participants with account balances2007-01-0147
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2007-01-011
2006: SWIFTSHIPS RETIREMENT SAVINGS PLAN 2006 401k membership
Total participants, beginning-of-year2006-01-0181
Total number of active participants reported on line 7a of the Form 55002006-01-0173
Number of other retired or separated participants entitled to future benefits2006-01-014
Total of all active and inactive participants2006-01-0177
Total participants2006-01-0177
Number of participants with account balances2006-01-0152
Number of employers contributing to the scheme2006-01-011

Financial Data on SWIFTSHIPS RETIREMENT SAVINGS PLAN

Measure Date Value
2012 : SWIFTSHIPS RETIREMENT SAVINGS PLAN 2012 401k financial data
Unrealized appreciation/depreciation of real estate assets2012-12-31$0
Unrealized appreciation/depreciation of other (non real estate) assets2012-12-31$0
Total unrealized appreciation/depreciation of assets2012-12-31$0
Total transfer of assets to this plan2012-12-31$0
Total transfer of assets from this plan2012-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$0
Total income from all sources (including contributions)2012-12-31$601,873
Total loss/gain on sale of assets2012-12-31$0
Total of all expenses incurred2012-12-31$407,067
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2012-12-31$377,697
Expenses. Certain deemed distributions of participant loans2012-12-31$6,533
Value of total corrective distributions2012-12-31$20,169
Total contributions o plan (from employers,participants, others, non cash contrinutions)2012-12-31$381,411
Value of total assets at end of year2012-12-31$2,992,165
Value of total assets at beginning of year2012-12-31$2,797,359
Total of administrative expenses incurred including professional, contract, advisory and management fees2012-12-31$2,668
Total income from rents2012-12-31$0
Total interest from all sources2012-12-31$27,122
Total dividends received (eg from common stock, registered investment company shares)2012-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2012-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2012-12-31$0
Administrative expenses professional fees incurred2012-12-31$0
Was this plan covered by a fidelity bond2012-12-31Yes
Value of fidelity bond cover2012-12-31$500,000
If this is an individual account plan, was there a blackout period2012-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-31$0
Were there any nonexempt tranactions with any party-in-interest2012-12-31No
Amount of non-exempt transactions with any party-in-interest2012-12-31$0
Contributions received from participants2012-12-31$301,469
Participant contributions at end of year2012-12-31$54,044
Participant contributions at beginning of year2012-12-31$51,393
Participant contributions at end of year2012-12-31$8,596
Participant contributions at beginning of year2012-12-31$13,141
Income. Received or receivable in cash from other sources (including rollovers)2012-12-31$1,469
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2012-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at end of year2012-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2012-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2012-12-31$0
Other income not declared elsewhere2012-12-31$-3,045
Administrative expenses (other) incurred2012-12-31$0
Liabilities. Value of operating payables at beginning of year2012-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Value of net income/loss2012-12-31$194,806
Value of net assets at end of year (total assets less liabilities)2012-12-31$2,992,165
Value of net assets at beginning of year (total assets less liabilities)2012-12-31$2,797,359
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2012-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2012-12-31No
Amount of loans by the plan or fixed income obligations due to the plan which were in default/classified-as-uncollectible as of the close of the plan year2012-12-31$0
Were any leases to which the plan was party in default or uncollectible2012-12-31No
Amount of leases to which the plan was a party which were in default/classified-as-uncollectible during the year2012-12-31$0
Investment advisory and management fees2012-12-31$0
Value of interest in pooled separate accounts at end of year2012-12-31$1,568,328
Value of interest in pooled separate accounts at beginning of year2012-12-31$1,402,087
Interest on participant loans2012-12-31$1,802
Income. Interest from loans (other than to participants)2012-12-31$0
Interest earned on other investments2012-12-31$25,320
Income. Interest from US Government securities2012-12-31$0
Income. Interest from corporate debt instruments2012-12-31$0
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2012-12-31$0
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2012-12-31$1,357,920
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2012-12-31$1,327,581
Expenses. Payments to insurance carriers foe the provision of benefits2012-12-31$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2012-12-31$0
Net investment gain/loss from pooled separate accounts2012-12-31$196,385
Net investment gain or loss from common/collective trusts2012-12-31$0
Net gain/loss from 103.12 investment entities2012-12-31$0
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2012-12-31No
Was there a failure to transmit to the plan any participant contributions2012-12-31Yes
Has the plan failed to provide any benefit when due under the plan2012-12-31No
Contributions received in cash from employer2012-12-31$78,473
Employer contributions (assets) at end of year2012-12-31$3,277
Employer contributions (assets) at beginning of year2012-12-31$3,157
Income. Dividends from preferred stock2012-12-31$0
Income. Dividends from common stock2012-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2012-12-31$377,697
Contract administrator fees2012-12-31$2,668
Liabilities. Value of benefit claims payable at beginning of year2012-12-31$0
Did the plan have assets held for investment2012-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2012-12-31No
Aggregate proceeds on sale of assets2012-12-31$0
Aggregate carrying amount (costs) on sale of assets2012-12-31$0
Liabilities. Value of acquisition indebtedness at beginning of year2012-12-31$0
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2012-12-31Yes
Opinion of an independent qualified public accountant for this plan2012-12-31Disclaimer
Accountancy firm name2012-12-31DARNALL,SYKES GARDES AND FREDERICK
Accountancy firm EIN2012-12-31720738838
2011 : SWIFTSHIPS RETIREMENT SAVINGS PLAN 2011 401k financial data
Unrealized appreciation/depreciation of real estate assets2011-12-31$0
Unrealized appreciation/depreciation of other (non real estate) assets2011-12-31$0
Total unrealized appreciation/depreciation of assets2011-12-31$0
Total transfer of assets to this plan2011-12-31$0
Total transfer of assets from this plan2011-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$0
Total income from all sources (including contributions)2011-12-31$514,260
Total loss/gain on sale of assets2011-12-31$0
Total of all expenses incurred2011-12-31$119,810
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2011-12-31$119,956
Expenses. Certain deemed distributions of participant loans2011-12-31$0
Value of total corrective distributions2011-12-31$0
Total contributions o plan (from employers,participants, others, non cash contrinutions)2011-12-31$539,935
Value of total assets at end of year2011-12-31$2,797,359
Value of total assets at beginning of year2011-12-31$2,402,909
Total of administrative expenses incurred including professional, contract, advisory and management fees2011-12-31$-146
Total income from rents2011-12-31$0
Total interest from all sources2011-12-31$31,137
Total dividends received (eg from common stock, registered investment company shares)2011-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2011-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2011-12-31$0
Administrative expenses professional fees incurred2011-12-31$0
Was this plan covered by a fidelity bond2011-12-31Yes
Value of fidelity bond cover2011-12-31$500,000
If this is an individual account plan, was there a blackout period2011-12-31No
Were there any nonexempt tranactions with any party-in-interest2011-12-31No
Amount of non-exempt transactions with any party-in-interest2011-12-31$0
Contributions received from participants2011-12-31$413,385
Participant contributions at end of year2011-12-31$51,393
Participant contributions at beginning of year2011-12-31$70,354
Participant contributions at end of year2011-12-31$13,141
Participant contributions at beginning of year2011-12-31$13,831
Income. Received or receivable in cash from other sources (including rollovers)2011-12-31$0
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2011-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at end of year2011-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2011-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2011-12-31$0
Other income not declared elsewhere2011-12-31$6,836
Administrative expenses (other) incurred2011-12-31$0
Liabilities. Value of operating payables at beginning of year2011-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Value of net income/loss2011-12-31$394,450
Value of net assets at end of year (total assets less liabilities)2011-12-31$2,797,359
Value of net assets at beginning of year (total assets less liabilities)2011-12-31$2,402,909
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2011-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2011-12-31No
Amount of loans by the plan or fixed income obligations due to the plan which were in default/classified-as-uncollectible as of the close of the plan year2011-12-31$0
Were any leases to which the plan was party in default or uncollectible2011-12-31No
Amount of leases to which the plan was a party which were in default/classified-as-uncollectible during the year2011-12-31$0
Investment advisory and management fees2011-12-31$0
Value of interest in pooled separate accounts at end of year2011-12-31$1,402,087
Value of interest in pooled separate accounts at beginning of year2011-12-31$1,157,970
Interest on participant loans2011-12-31$2,019
Income. Interest from loans (other than to participants)2011-12-31$0
Interest earned on other investments2011-12-31$29,118
Income. Interest from US Government securities2011-12-31$0
Income. Interest from corporate debt instruments2011-12-31$0
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2011-12-31$0
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2011-12-31$1,327,581
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2011-12-31$1,154,936
Expenses. Payments to insurance carriers foe the provision of benefits2011-12-31$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2011-12-31$0
Net investment gain/loss from pooled separate accounts2011-12-31$-63,648
Net investment gain or loss from common/collective trusts2011-12-31$0
Net gain/loss from 103.12 investment entities2011-12-31$0
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2011-12-31No
Was there a failure to transmit to the plan any participant contributions2011-12-31Yes
Has the plan failed to provide any benefit when due under the plan2011-12-31No
Contributions received in cash from employer2011-12-31$126,550
Employer contributions (assets) at end of year2011-12-31$3,157
Employer contributions (assets) at beginning of year2011-12-31$5,818
Income. Dividends from preferred stock2011-12-31$0
Income. Dividends from common stock2011-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2011-12-31$119,956
Contract administrator fees2011-12-31$-146
Liabilities. Value of benefit claims payable at beginning of year2011-12-31$0
Did the plan have assets held for investment2011-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2011-12-31No
Aggregate proceeds on sale of assets2011-12-31$0
Aggregate carrying amount (costs) on sale of assets2011-12-31$0
Liabilities. Value of acquisition indebtedness at beginning of year2011-12-31$0
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2011-12-31Yes
Opinion of an independent qualified public accountant for this plan2011-12-31Disclaimer
Accountancy firm name2011-12-31DARNALL SIKES GARDES & FREDERICK
Accountancy firm EIN2011-12-31720738838
2008 : SWIFTSHIPS RETIREMENT SAVINGS PLAN 2008 401k financial data
Total income from all sources2008-12-31$-346,885
Expenses. Total of all expenses incurred2008-12-31$8,374
Total plan assets at end of year2008-12-31$1,584,619
Total plan assets at beginning of year2008-12-31$2,036,140
Value of fidelity bond covering the plan2008-12-31$500,000
Total contributions received or receivable from participants2008-12-31$31,253
Other income received2008-12-31$-378,138
Net income (gross income less expenses)2008-12-31$-355,259
Net plan assets at end of year (total assets less liabilities)2008-12-31$1,584,619
Net plan assets at beginning of year (total assets less liabilities)2008-12-31$2,036,140
Assets. Value of participant loans2008-12-31$71,154
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022008-12-31$148,615
Expenses. Administrative service providers (salaries,fees and commissions)2008-12-31$8,374
2007 : SWIFTSHIPS RETIREMENT SAVINGS PLAN 2007 401k financial data
Total income from all sources2007-12-31$280,107
Expenses. Total of all expenses incurred2007-12-31$328,689
Benefits paid (including direct rollovers)2007-12-31$317,085
Total plan assets at end of year2007-12-31$2,036,140
Total plan assets at beginning of year2007-12-31$2,084,722
Value of fidelity bond covering the plan2007-12-31$500,000
Total contributions received or receivable from participants2007-12-31$79,331
Expenses. Other expenses not covered elsewhere2007-12-31$11,604
Other income received2007-12-31$200,776
Net income (gross income less expenses)2007-12-31$-48,582
Net plan assets at end of year (total assets less liabilities)2007-12-31$2,036,140
Net plan assets at beginning of year (total assets less liabilities)2007-12-31$2,084,722
Assets. Value of participant loans2007-12-31$84,067
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022007-12-31$136,605
2006 : SWIFTSHIPS RETIREMENT SAVINGS PLAN 2006 401k financial data
Total income from all sources2006-12-31$331,606
Expenses. Total of all expenses incurred2006-12-31$471,752
Benefits paid (including direct rollovers)2006-12-31$457,547
Total plan assets at end of year2006-12-31$2,084,722
Total plan assets at beginning of year2006-12-31$2,224,868
Value of fidelity bond covering the plan2006-12-31$500,000
Total contributions received or receivable from participants2006-12-31$110,353
Expenses. Other expenses not covered elsewhere2006-12-31$14,205
Other income received2006-12-31$221,253
Net income (gross income less expenses)2006-12-31$-140,146
Net plan assets at end of year (total assets less liabilities)2006-12-31$2,084,722
Net plan assets at beginning of year (total assets less liabilities)2006-12-31$2,224,868
Assets. Value of participant loans2006-12-31$82,209
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022006-12-31$82,627

Form 5500 Responses for SWIFTSHIPS RETIREMENT SAVINGS PLAN

2012: SWIFTSHIPS RETIREMENT SAVINGS PLAN 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01This submission is the final filingNo
2012-01-01This return/report is a short plan year return/report (less than 12 months)No
2012-01-01Plan is a collectively bargained planNo
2012-01-01Plan funding arrangement – InsuranceYes
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement – InsuranceYes
2012-01-01Plan benefit arrangement - TrustYes
2008: SWIFTSHIPS RETIREMENT SAVINGS PLAN 2008 form 5500 responses
2008-01-01Type of plan entitySingle employer plan
2008-01-01Submission has been amendedYes
2008-01-01This submission is the final filingNo
2008-01-01This return/report is a short plan year return/report (less than 12 months)No
2008-01-01Plan is a collectively bargained planNo
2008-01-01Plan funding arrangement – InsuranceYes
2008-01-01Plan funding arrangement – TrustYes
2008-01-01Plan benefit arrangement – InsuranceYes
2008-01-01Plan benefit arrangement - TrustYes
2007: SWIFTSHIPS RETIREMENT SAVINGS PLAN 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 filingNo
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
2006: SWIFTSHIPS RETIREMENT SAVINGS PLAN 2006 form 5500 responses
2006-01-01Type of plan entitySingle employer plan
2006-01-01Submission has been amendedYes
2006-01-01This submission is the final filingNo
2006-01-01This return/report is a short plan year return/report (less than 12 months)No
2006-01-01Plan is a collectively bargained planNo
2006-01-01Plan funding arrangement – InsuranceYes
2006-01-01Plan funding arrangement – TrustYes
2006-01-01Plan benefit arrangement – InsuranceYes
2006-01-01Plan benefit arrangement - TrustYes

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