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MAGNOLIA BRUSH MFRS, LTD. 401K PLAN 401k Plan overview

Plan NameMAGNOLIA BRUSH MFRS, LTD. 401K PLAN
Plan identification number 001

MAGNOLIA BRUSH MFRS, LTD. 401K 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

MAGNOLIA BRUSH MFRS., LTD. has sponsored the creation of one or more 401k plans.

Company Name:MAGNOLIA BRUSH MFRS., LTD.
Employer identification number (EIN):750744190
NAIC Classification:339900

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MAGNOLIA BRUSH MFRS, LTD. 401K PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01SCOTT ADAMS2023-09-05
0012021-01-01SCOTT ADAMS2022-07-25 STEVE BISHOP2022-07-25
0012020-01-01STEVE BISHOP2021-07-27 STEVE BISHOP2021-07-27
0012019-01-01SCOTT ADAMS2020-07-21 SCOTT ADAMS2020-07-21
0012018-01-01SCOTT ADAMS2019-07-30 SCOTT ADAMS2019-07-30
0012017-01-01STEVE BISHOP2018-07-24 STEVE BISHOP2018-07-24
0012016-01-01STEVE BISHOP2017-06-26 STEVE BISHOP2017-06-26
0012015-01-01SCOTT ADAMS2016-07-22 SCOTT ADAMS2016-07-22
0012014-01-01STEVE BISHOP STEVE BISHOP2015-07-29
0012013-01-01STEVE BISHOP
0012012-01-01STEVE BISHOP STEVE BISHOP2013-10-03
0012011-01-01STEVE BISHOP
0012010-01-01KENNETH BACKUS2011-07-19 KENNETH BACKUS2011-07-19

Plan Statistics for MAGNOLIA BRUSH MFRS, LTD. 401K PLAN

401k plan membership statisitcs for MAGNOLIA BRUSH MFRS, LTD. 401K PLAN

Measure Date Value
2014: MAGNOLIA BRUSH MFRS, LTD. 401K PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-0169
Total number of active participants reported on line 7a of the Form 55002014-01-0171
Number of retired or separated participants receiving benefits2014-01-010
Number of other retired or separated participants entitled to future benefits2014-01-014
Total of all active and inactive participants2014-01-0175
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-0175
Number of participants with account balances2014-01-0141
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-010
2013: MAGNOLIA BRUSH MFRS, LTD. 401K PLAN 2013 401k membership
Total participants, beginning-of-year2013-01-0174
Total number of active participants reported on line 7a of the Form 55002013-01-0166
Number of retired or separated participants receiving benefits2013-01-010
Number of other retired or separated participants entitled to future benefits2013-01-014
Total of all active and inactive participants2013-01-0170
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-010
Total participants2013-01-0170
Number of participants with account balances2013-01-0141
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-013
2012: MAGNOLIA BRUSH MFRS, LTD. 401K PLAN 2012 401k membership
Total participants, beginning-of-year2012-01-0175
Total number of active participants reported on line 7a of the Form 55002012-01-0167
Number of retired or separated participants receiving benefits2012-01-010
Number of other retired or separated participants entitled to future benefits2012-01-014
Total of all active and inactive participants2012-01-0171
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-01-010
Total participants2012-01-0171
Number of participants with account balances2012-01-0167
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-013
2011: MAGNOLIA BRUSH MFRS, LTD. 401K PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-0174
Total number of active participants reported on line 7a of the Form 55002011-01-0169
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-010
Total of all active and inactive participants2011-01-0169
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-0169
Number of participants with account balances2011-01-0139
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-010

Financial Data on MAGNOLIA BRUSH MFRS, LTD. 401K PLAN

Measure Date Value
2014 : MAGNOLIA BRUSH MFRS, LTD. 401K PLAN 2014 401k financial data
Transfers to/from the plan2014-12-31$0
Total income from all sources2014-12-31$238,524
Expenses. Total of all expenses incurred2014-12-31$501
Benefits paid (including direct rollovers)2014-12-31$0
Total plan assets at end of year2014-12-31$2,169,244
Total plan assets at beginning of year2014-12-31$1,931,221
Value of fidelity bond covering the plan2014-12-31$25,000
Total contributions received or receivable from participants2014-12-31$124,790
Expenses. Other expenses not covered elsewhere2014-12-31$296
Contributions received from other sources (not participants or employers)2014-12-31$0
Other income received2014-12-31$96,153
Net income (gross income less expenses)2014-12-31$238,023
Net plan assets at end of year (total assets less liabilities)2014-12-31$2,169,244
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$1,931,221
Assets. Value of participant loans2014-12-31$20,598
Total contributions received or receivable from employer(s)2014-12-31$17,581
Value of certain deemed distributions of participant loans2014-12-31$0
Value of corrective distributions2014-12-31$205
Funding deficiency by the employer to the plan for this plan year2014-12-31$0
Minimum employer required contribution for this plan year2014-12-31$0
Amount contributed by the employer to the plan for this plan year2014-12-31$0
2013 : MAGNOLIA BRUSH MFRS, LTD. 401K PLAN 2013 401k financial data
Transfers to/from the plan2013-12-31$0
Total income from all sources2013-12-31$348,583
Expenses. Total of all expenses incurred2013-12-31$3,685
Benefits paid (including direct rollovers)2013-12-31$0
Total plan assets at end of year2013-12-31$1,931,221
Total plan assets at beginning of year2013-12-31$1,586,323
Value of fidelity bond covering the plan2013-12-31$25,000
Total contributions received or receivable from participants2013-12-31$116,457
Expenses. Other expenses not covered elsewhere2013-12-31$104
Contributions received from other sources (not participants or employers)2013-12-31$0
Other income received2013-12-31$215,557
Net income (gross income less expenses)2013-12-31$344,898
Net plan assets at end of year (total assets less liabilities)2013-12-31$1,931,221
Net plan assets at beginning of year (total assets less liabilities)2013-12-31$1,586,323
Assets. Value of participant loans2013-12-31$15,719
Total contributions received or receivable from employer(s)2013-12-31$16,569
Value of certain deemed distributions of participant loans2013-12-31$0
Value of corrective distributions2013-12-31$3,581
Funding deficiency by the employer to the plan for this plan year2013-12-31$0
Minimum employer required contribution for this plan year2013-12-31$0
Amount contributed by the employer to the plan for this plan year2013-12-31$0
2012 : MAGNOLIA BRUSH MFRS, LTD. 401K PLAN 2012 401k financial data
Transfers to/from the plan2012-12-31$0
Total income from all sources2012-12-31$253,309
Expenses. Total of all expenses incurred2012-12-31$1,237
Benefits paid (including direct rollovers)2012-12-31$1,100
Total plan assets at end of year2012-12-31$1,586,323
Total plan assets at beginning of year2012-12-31$1,334,251
Value of fidelity bond covering the plan2012-12-31$25,000
Total contributions received or receivable from participants2012-12-31$107,930
Expenses. Other expenses not covered elsewhere2012-12-31$137
Contributions received from other sources (not participants or employers)2012-12-31$0
Other income received2012-12-31$129,957
Net income (gross income less expenses)2012-12-31$252,072
Net plan assets at end of year (total assets less liabilities)2012-12-31$1,586,323
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$1,334,251
Assets. Value of participant loans2012-12-31$20,248
Total contributions received or receivable from employer(s)2012-12-31$15,422
Value of certain deemed distributions of participant loans2012-12-31$0
Value of corrective distributions2012-12-31$0
Funding deficiency by the employer to the plan for this plan year2012-12-31$0
Minimum employer required contribution for this plan year2012-12-31$0
Amount contributed by the employer to the plan for this plan year2012-12-31$0
2011 : MAGNOLIA BRUSH MFRS, LTD. 401K PLAN 2011 401k financial data
Transfers to/from the plan2011-12-31$-410,819
Total income from all sources2011-12-31$124,368
Expenses. Total of all expenses incurred2011-12-31$170,555
Benefits paid (including direct rollovers)2011-12-31$170,505
Total plan assets at end of year2011-12-31$1,334,251
Total plan assets at beginning of year2011-12-31$1,791,257
Value of fidelity bond covering the plan2011-12-31$50,000
Total contributions received or receivable from participants2011-12-31$103,752
Expenses. Other expenses not covered elsewhere2011-12-31$50
Contributions received from other sources (not participants or employers)2011-12-31$0
Other income received2011-12-31$5,562
Net income (gross income less expenses)2011-12-31$-46,187
Net plan assets at end of year (total assets less liabilities)2011-12-31$1,334,251
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$1,791,257
Assets. Value of participant loans2011-12-31$12,046
Total contributions received or receivable from employer(s)2011-12-31$15,054
Value of certain deemed distributions of participant loans2011-12-31$0
Value of corrective distributions2011-12-31$0
Funding deficiency by the employer to the plan for this plan year2011-12-31$0
Minimum employer required contribution for this plan year2011-12-31$0
Amount contributed by the employer to the plan for this plan year2011-12-31$0

Form 5500 Responses for MAGNOLIA BRUSH MFRS, LTD. 401K PLAN

2014: MAGNOLIA BRUSH MFRS, LTD. 401K PLAN 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
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
2013: MAGNOLIA BRUSH MFRS, LTD. 401K PLAN 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Submission has been amendedNo
2013-01-01This submission is the final filingNo
2013-01-01This return/report is a short plan year return/report (less than 12 months)No
2013-01-01Plan is a collectively bargained planNo
2013-01-01Plan funding arrangement – InsuranceYes
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement – InsuranceYes
2012: MAGNOLIA BRUSH MFRS, LTD. 401K PLAN 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Submission has been amendedNo
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
2011: MAGNOLIA BRUSH MFRS, LTD. 401K PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedNo
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – InsuranceYes
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement – InsuranceYes

Insurance Providers Used on plan

HARTFORD LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 88072 )
Policy contract numberGA-824259
Policy instance 1
Insurance contract or identification numberGA-824259
Number of Individuals Covered41
Insurance policy start date2014-01-01
Insurance policy end date2014-12-31
Total amount of commissions paid to insurance brokerUSD $3,942
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 $3,942
Insurance broker organization code?3
Insurance broker nameWELLS FARGO ADVISORS INS AGENCY, LL
HARTFORD LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 88072 )
Policy contract numberGA-824259
Policy instance 1
Insurance contract or identification numberGA-824259
Number of Individuals Covered41
Insurance policy start date2013-01-01
Insurance policy end date2013-12-31
Total amount of commissions paid to insurance brokerUSD $3,308
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 $3,308
Insurance broker organization code?3
Insurance broker nameWELLS FARGO ADVISORS INS AGY
HARTFORD LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 88072 )
Policy contract numberGA-824259
Policy instance 1
Insurance contract or identification numberGA-824259
Number of Individuals Covered67
Insurance policy start date2012-01-01
Insurance policy end date2012-12-31
Total amount of commissions paid to insurance brokerUSD $2,147
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 $2,147
Insurance broker organization code?3
Insurance broker nameWELLS FARGO ADVISORS INS AGY
HARTFORD LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 88072 )
Policy contract numberGA-824259
Policy instance 1
Insurance contract or identification numberGA-824259
Number of Individuals Covered39
Insurance policy start date2011-01-01
Insurance policy end date2011-12-31
Total amount of commissions paid to insurance brokerUSD $14,832
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

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