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ALIGN PRECISION 401(K) PLAN 401k Plan overview

Plan NameALIGN PRECISION 401(K) PLAN
Plan identification number 001

ALIGN PRECISION 401(K) 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.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • 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

ALIGN PRECISION CORP has sponsored the creation of one or more 401k plans.

Company Name:ALIGN PRECISION CORP
Employer identification number (EIN):834029310
NAIC Classification:332700

Form 5500 Filing Information

Submission information for form 5500 for 401k plan ALIGN PRECISION 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01LISA HOUSER2024-10-14
0012022-01-01KRISTIN BARRETTE2023-10-13
0012021-06-01DON ANDERSON2022-10-10

Plan Statistics for ALIGN PRECISION 401(K) PLAN

401k plan membership statisitcs for ALIGN PRECISION 401(K) PLAN

Measure Date Value
2023: ALIGN PRECISION 401(K) PLAN 2023 401k membership
Total participants, beginning-of-year2023-01-011,138
Total number of active participants reported on line 7a of the Form 55002023-01-01907
Number of retired or separated participants receiving benefits2023-01-010
Number of other retired or separated participants entitled to future benefits2023-01-01190
Total of all active and inactive participants2023-01-011,097
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2023-01-010
Total participants2023-01-011,097
Number of participants with account balances2023-01-011,081
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2023-01-010
2022: ALIGN PRECISION 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01865
Total number of active participants reported on line 7a of the Form 55002022-01-01991
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-01147
Total of all active and inactive participants2022-01-011,138
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-011,138
Number of participants with account balances2022-01-011,106
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-0133
2021: ALIGN PRECISION 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year2021-06-01805
Total number of active participants reported on line 7a of the Form 55002021-06-01774
Number of retired or separated participants receiving benefits2021-06-010
Number of other retired or separated participants entitled to future benefits2021-06-0191
Total of all active and inactive participants2021-06-01865
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-06-010
Total participants2021-06-01865
Number of participants with account balances2021-06-01782
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-06-010

Financial Data on ALIGN PRECISION 401(K) PLAN

Measure Date Value
2023 : ALIGN PRECISION 401(K) PLAN 2023 401k financial data
Total transfer of assets to this plan2023-12-31$92,921
Total income from all sources (including contributions)2023-12-31$13,742,552
Total of all expenses incurred2023-12-31$4,613,655
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2023-12-31$4,418,041
Expenses. Certain deemed distributions of participant loans2023-12-31$10,561
Total contributions o plan (from employers,participants, others, non cash contrinutions)2023-12-31$7,894,193
Value of total assets at end of year2023-12-31$44,947,699
Value of total assets at beginning of year2023-12-31$35,725,881
Total of administrative expenses incurred including professional, contract, advisory and management fees2023-12-31$185,053
Total interest from all sources2023-12-31$67,932
Total dividends received (eg from common stock, registered investment company shares)2023-12-31$14,342
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2023-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2023-12-31$14,342
Was this plan covered by a fidelity bond2023-12-31Yes
Value of fidelity bond cover2023-12-31$500,000
If this is an individual account plan, was there a blackout period2023-12-31No
Were there any nonexempt tranactions with any party-in-interest2023-12-31No
Contributions received from participants2023-12-31$4,407,307
Participant contributions at end of year2023-12-31$1,102,786
Participant contributions at beginning of year2023-12-31$884,052
Participant contributions at end of year2023-12-31$60
Participant contributions at beginning of year2023-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2023-12-31$712,750
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2023-12-31$226
Other income not declared elsewhere2023-12-31$14,500
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2023-12-31No
Value of net income/loss2023-12-31$9,128,897
Value of net assets at end of year (total assets less liabilities)2023-12-31$44,947,699
Value of net assets at beginning of year (total assets less liabilities)2023-12-31$35,725,881
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2023-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2023-12-31No
Were any leases to which the plan was party in default or uncollectible2023-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2023-12-31$457,700
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2023-12-31$259,731
Value of interest in pooled separate accounts at end of year2023-12-31$4,255,555
Value of interest in pooled separate accounts at beginning of year2023-12-31$3,229,260
Interest on participant loans2023-12-31$67,932
Value of interest in common/collective trusts at end of year2023-12-31$39,131,543
Value of interest in common/collective trusts at beginning of year2023-12-31$31,352,838
Net investment gain/loss from registered investment companies (e.g. mutual funds)2023-12-31$33,787
Net investment gain/loss from pooled separate accounts2023-12-31$677,760
Net investment gain or loss from common/collective trusts2023-12-31$5,040,038
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2023-12-31No
Was there a failure to transmit to the plan any participant contributions2023-12-31No
Has the plan failed to provide any benefit when due under the plan2023-12-31No
Contributions received in cash from employer2023-12-31$2,774,136
Employer contributions (assets) at end of year2023-12-31$55
Employer contributions (assets) at beginning of year2023-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2023-12-31$4,417,815
Contract administrator fees2023-12-31$185,053
Did the plan have assets held for investment2023-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2023-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2023-12-31No
Opinion of an independent qualified public accountant for this plan2023-12-31Unqualified
Accountancy firm name2023-12-31CARABELL, LESLIE & CO., PC
Accountancy firm EIN2023-12-31381998967
2022 : ALIGN PRECISION 401(K) PLAN 2022 401k financial data
Total transfer of assets to this plan2022-12-31$4,806,080
Total income from all sources (including contributions)2022-12-31$1,348,033
Total of all expenses incurred2022-12-31$3,811,509
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$3,644,860
Expenses. Certain deemed distributions of participant loans2022-12-31$13,630
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$7,350,815
Value of total assets at end of year2022-12-31$35,725,881
Value of total assets at beginning of year2022-12-31$33,383,277
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$153,019
Total interest from all sources2022-12-31$39,742
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$5,959
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2022-12-31$5,959
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$500,000
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$3,908,759
Participant contributions at end of year2022-12-31$884,052
Participant contributions at beginning of year2022-12-31$721,412
Participant contributions at end of year2022-12-31$0
Participant contributions at beginning of year2022-12-31$9,555
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$898,148
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-2,463,476
Value of net assets at end of year (total assets less liabilities)2022-12-31$35,725,881
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$33,383,277
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-12-31$259,731
Value of interest in pooled separate accounts at end of year2022-12-31$3,229,260
Value of interest in pooled separate accounts at beginning of year2022-12-31$3,739,866
Interest on participant loans2022-12-31$39,742
Value of interest in common/collective trusts at end of year2022-12-31$31,352,838
Value of interest in common/collective trusts at beginning of year2022-12-31$28,907,300
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-4,306
Net investment gain/loss from pooled separate accounts2022-12-31$-827,195
Net investment gain or loss from common/collective trusts2022-12-31$-5,216,982
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$2,543,908
Employer contributions (assets) at end of year2022-12-31$0
Employer contributions (assets) at beginning of year2022-12-31$5,144
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$3,644,860
Contract administrator fees2022-12-31$153,019
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31CARABELL, LESLIE & CO., P.C.
Accountancy firm EIN2022-12-31381998967
2021 : ALIGN PRECISION 401(K) PLAN 2021 401k financial data
Total transfer of assets to this plan2021-12-31$29,639,875
Total income from all sources (including contributions)2021-12-31$4,710,144
Total of all expenses incurred2021-12-31$966,742
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$900,477
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$3,450,271
Value of total assets at end of year2021-12-31$33,383,277
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$66,265
Total interest from all sources2021-12-31$18,145
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$500,000
If this is an individual account plan, was there a blackout period2021-12-31No
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Contributions received from participants2021-12-31$1,943,275
Participant contributions at end of year2021-12-31$721,412
Participant contributions at end of year2021-12-31$9,555
Income. Received or receivable in cash from other sources (including rollovers)2021-12-31$311,978
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$3,743,402
Value of net assets at end of year (total assets less liabilities)2021-12-31$33,383,277
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2021-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2021-12-31No
Were any leases to which the plan was party in default or uncollectible2021-12-31No
Value of interest in pooled separate accounts at end of year2021-12-31$3,739,866
Interest on participant loans2021-12-31$18,145
Value of interest in common/collective trusts at end of year2021-12-31$28,907,300
Net investment gain/loss from pooled separate accounts2021-12-31$164,894
Net investment gain or loss from common/collective trusts2021-12-31$1,076,834
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-12-31No
Was there a failure to transmit to the plan any participant contributions2021-12-31No
Has the plan failed to provide any benefit when due under the plan2021-12-31No
Contributions received in cash from employer2021-12-31$1,195,018
Employer contributions (assets) at end of year2021-12-31$5,144
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$900,477
Contract administrator fees2021-12-31$66,265
Did the plan have assets held for investment2021-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2021-12-31No

Form 5500 Responses for ALIGN PRECISION 401(K) PLAN

2023: ALIGN PRECISION 401(K) PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01Plan funding arrangement – InsuranceYes
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement - TrustYes
2022: ALIGN PRECISION 401(K) PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Plan funding arrangement – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: ALIGN PRECISION 401(K) PLAN 2021 form 5500 responses
2021-06-01Type of plan entitySingle employer plan
2021-06-01First time form 5500 has been submittedYes
2021-06-01This return/report is a short plan year return/report (less than 12 months)Yes
2021-06-01Plan funding arrangement – InsuranceYes
2021-06-01Plan funding arrangement – TrustYes
2021-06-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number821680
Policy instance 1
Insurance contract or identification number821680
Number of Individuals Covered1103
Insurance policy start date2023-01-01
Insurance policy end date2023-12-31
Total amount of commissions paid to insurance brokerUSD $6,319
Total amount of fees paid to insurance companyUSD $1,755
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number821680
Policy instance 1
Insurance contract or identification number821680
Number of Individuals Covered1142
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $6,031
Total amount of fees paid to insurance companyUSD $1,675
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $6,031
Insurance broker organization code?3
Amount paid for insurance broker fees1675
Additional information about fees paid to insurance brokerREFERRAL/SERVICE FEE
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number821680
Policy instance 1
Insurance contract or identification number821680
Number of Individuals Covered895
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $1,368
Total amount of fees paid to insurance companyUSD $980
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $1,368
Insurance broker organization code?3
Amount paid for insurance broker fees980
Additional information about fees paid to insurance brokerREFERRAL FEE

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