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GLOBAL FABRICATORS, INC. 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameGLOBAL FABRICATORS, INC. 401(K) PROFIT SHARING PLAN
Plan identification number 001

GLOBAL FABRICATORS, INC. 401(K) PROFIT SHARING 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.
  • 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

GLOBAL FABRICATORS, INC. has sponsored the creation of one or more 401k plans.

Company Name:GLOBAL FABRICATORS, INC.
Employer identification number (EIN):770275885
NAIC Classification:332700

Form 5500 Filing Information

Submission information for form 5500 for 401k plan GLOBAL FABRICATORS, INC. 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012011-01-01JIM MOSES2012-06-18 JIM MOSES2012-06-18
0012010-01-01CHARLES W CHANEY CHARLES W CHANEY2011-10-03
0012009-01-01GARY MOSES GARY MOSES2010-10-15
0012009-01-01JIM MOSES JIM MOSES2010-10-25

Plan Statistics for GLOBAL FABRICATORS, INC. 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for GLOBAL FABRICATORS, INC. 401(K) PROFIT SHARING PLAN

Measure Date Value
2010: GLOBAL FABRICATORS, INC. 401(K) PROFIT SHARING PLAN 2010 401k membership
Total participants, beginning-of-year2010-01-01125
Total number of active participants reported on line 7a of the Form 55002010-01-0148
Number of other retired or separated participants entitled to future benefits2010-01-019
Total of all active and inactive participants2010-01-0157
Total participants2010-01-0157
Number of participants with account balances2010-01-0157
2009: GLOBAL FABRICATORS, INC. 401(K) PROFIT SHARING PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-01135
Total number of active participants reported on line 7a of the Form 55002009-01-0181
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-0132
Total of all active and inactive participants2009-01-01113
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-01113
Number of participants with account balances2009-01-0181
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-014

Financial Data on GLOBAL FABRICATORS, INC. 401(K) PROFIT SHARING PLAN

Measure Date Value
2010 : GLOBAL FABRICATORS, INC. 401(K) PROFIT SHARING PLAN 2010 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2010-12-31$127,555
Total unrealized appreciation/depreciation of assets2010-12-31$127,555
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$0
Total income from all sources (including contributions)2010-12-31$216,141
Total loss/gain on sale of assets2010-12-31$0
Total of all expenses incurred2010-12-31$978,670
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2010-12-31$894,501
Value of total corrective distributions2010-12-31$79,454
Total contributions o plan (from employers,participants, others, non cash contrinutions)2010-12-31$87,362
Value of total assets at end of year2010-12-31$974,612
Value of total assets at beginning of year2010-12-31$1,737,141
Total of administrative expenses incurred including professional, contract, advisory and management fees2010-12-31$4,715
Total interest from all sources2010-12-31$33
Total dividends received (eg from common stock, registered investment company shares)2010-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2010-12-31Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2010-12-31$0
Was this plan covered by a fidelity bond2010-12-31No
If this is an individual account plan, was there a blackout period2010-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
Were there any nonexempt tranactions with any party-in-interest2010-12-31No
Contributions received from participants2010-12-31$87,362
Value of other receiveables (less allowance for doubtful accounts) at end of year2010-12-31$1,181
Other income not declared elsewhere2010-12-31$1,191
Administrative expenses (other) incurred2010-12-31$2,400
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Value of net income/loss2010-12-31$-762,529
Value of net assets at end of year (total assets less liabilities)2010-12-31$974,612
Value of net assets at beginning of year (total assets less liabilities)2010-12-31$1,737,141
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2010-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2010-12-31No
Were any leases to which the plan was party in default or uncollectible2010-12-31No
Value of interest in pooled separate accounts at end of year2010-12-31$721,653
Value of interest in pooled separate accounts at beginning of year2010-12-31$1,191,734
Value of interest in master investment trust accounts at beginning of year2010-12-31$545,407
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2010-12-31$33
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2010-12-31$251,778
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2010-12-31No
Was there a failure to transmit to the plan any participant contributions2010-12-31No
Has the plan failed to provide any benefit when due under the plan2010-12-31No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2010-12-31$894,501
Contract administrator fees2010-12-31$2,315
Did the plan have assets held for investment2010-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2010-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2010-12-31Yes
Opinion of an independent qualified public accountant for this plan2010-12-31Disclaimer
Accountancy firm name2010-12-31CALIBER AUDIT & ATTEST
Accountancy firm EIN2010-12-31262350873

Form 5500 Responses for GLOBAL FABRICATORS, INC. 401(K) PROFIT SHARING PLAN

2010: GLOBAL FABRICATORS, INC. 401(K) PROFIT SHARING PLAN 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedNo
2010-01-01This submission is the final filingNo
2010-01-01This return/report is a short plan year return/report (less than 12 months)No
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – InsuranceYes
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement – InsuranceYes
2010-01-01Plan benefit arrangement - TrustYes
2009: GLOBAL FABRICATORS, INC. 401(K) PROFIT SHARING PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – InsuranceYes
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement – InsuranceYes
2009-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

AXA EQUITABLE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66944 )
Policy contract number671243
Policy instance 1
Insurance contract or identification number671243
Number of Individuals Covered57
Insurance policy start date2010-01-01
Insurance policy end date2010-12-31
Total amount of commissions paid to insurance brokerUSD $3,470
Total amount of fees paid to insurance companyUSD $0
Are there contracts with unallocated funds for contracts of type guaranteed investment?Yes
Commission paid to Insurance BrokerUSD $3,470
Insurance broker organization code?3
Insurance broker nameLEONARD RUGGIERO, CFP

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