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PARALLEL VENTURES, INC. 401K RETIREMENT PLAN 401k Plan overview

Plan NamePARALLEL VENTURES, INC. 401K RETIREMENT PLAN
Plan identification number 002

PARALLEL VENTURES, INC. 401K RETIREMENT 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.

401k Sponsoring company profile

PARALLEL VENTURES, INC. has sponsored the creation of one or more 401k plans.

Company Name:PARALLEL VENTURES, INC.
Employer identification number (EIN):860435647
NAIC Classification:332700

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PARALLEL VENTURES, INC. 401K RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022020-01-01TAMRA M OELLIG2021-09-07 TAMRA M OELLIG2021-09-07
0022016-01-01TAMRA M OELLIG2017-05-25 TAMRA M OELLIG2017-05-25
0022015-01-01TAMRA M OELLIG2016-06-08 TAMRA M OELLIG2016-06-08
0022014-01-01TAMRA M OELLIG
0022013-01-01TAMRA OELLIG TAMRA OELLIG2014-06-16

Plan Statistics for PARALLEL VENTURES, INC. 401K RETIREMENT PLAN

401k plan membership statisitcs for PARALLEL VENTURES, INC. 401K RETIREMENT PLAN

Measure Date Value
2014: PARALLEL VENTURES, INC. 401K RETIREMENT PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-0135
Total number of active participants reported on line 7a of the Form 55002014-01-0131
Number of retired or separated participants receiving benefits2014-01-011
Number of other retired or separated participants entitled to future benefits2014-01-013
Total of all active and inactive participants2014-01-0135
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-011
Total participants2014-01-0136
Number of participants with account balances2014-01-0129
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-011
2013: PARALLEL VENTURES, INC. 401K RETIREMENT PLAN 2013 401k membership
Total participants, beginning-of-year2013-01-0134
Total number of active participants reported on line 7a of the Form 55002013-01-0135
Number of retired or separated participants receiving benefits2013-01-010
Number of other retired or separated participants entitled to future benefits2013-01-012
Total of all active and inactive participants2013-01-0137
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-011
Total participants2013-01-0138
Number of participants with account balances2013-01-0127
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-011

Financial Data on PARALLEL VENTURES, INC. 401K RETIREMENT PLAN

Measure Date Value
2014 : PARALLEL VENTURES, INC. 401K RETIREMENT PLAN 2014 401k financial data
Transfers to/from the plan2014-12-31$0
Total income from all sources2014-12-31$140,134
Expenses. Total of all expenses incurred2014-12-31$30,385
Benefits paid (including direct rollovers)2014-12-31$30,035
Total plan assets at end of year2014-12-31$1,333,168
Total plan assets at beginning of year2014-12-31$1,223,419
Value of fidelity bond covering the plan2014-12-31$100,000
Total contributions received or receivable from participants2014-12-31$65,803
Expenses. Other expenses not covered elsewhere2014-12-31$350
Contributions received from other sources (not participants or employers)2014-12-31$0
Other income received2014-12-31$57,880
Net income (gross income less expenses)2014-12-31$109,749
Net plan assets at end of year (total assets less liabilities)2014-12-31$1,333,168
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$1,223,419
Assets. Value of participant loans2014-12-31$164,683
Total contributions received or receivable from employer(s)2014-12-31$16,451
Value of certain deemed distributions of participant loans2014-12-31$0
Value of corrective distributions2014-12-31$0
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 : PARALLEL VENTURES, INC. 401K RETIREMENT PLAN 2013 401k financial data
Transfers to/from the plan2013-12-31$0
Total income from all sources2013-12-31$159,469
Expenses. Total of all expenses incurred2013-12-31$25,630
Benefits paid (including direct rollovers)2013-12-31$25,000
Total plan assets at end of year2013-12-31$1,223,419
Total plan assets at beginning of year2013-12-31$1,089,580
Value of fidelity bond covering the plan2013-12-31$100,000
Total contributions received or receivable from participants2013-12-31$67,043
Expenses. Other expenses not covered elsewhere2013-12-31$630
Contributions received from other sources (not participants or employers)2013-12-31$0
Other income received2013-12-31$75,665
Net income (gross income less expenses)2013-12-31$133,839
Net plan assets at end of year (total assets less liabilities)2013-12-31$1,223,419
Net plan assets at beginning of year (total assets less liabilities)2013-12-31$1,089,580
Assets. Value of participant loans2013-12-31$150,982
Total contributions received or receivable from employer(s)2013-12-31$16,761
Value of certain deemed distributions of participant loans2013-12-31$0
Value of corrective distributions2013-12-31$0
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

Form 5500 Responses for PARALLEL VENTURES, INC. 401K RETIREMENT PLAN

2014: PARALLEL VENTURES, INC. 401K RETIREMENT 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: PARALLEL VENTURES, INC. 401K RETIREMENT 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

Insurance Providers Used on plan

HARTFORD LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 88072 )
Policy contract numberGA-022999
Policy instance 1
Insurance contract or identification numberGA-022999
Number of Individuals Covered29
Insurance policy start date2014-01-01
Insurance policy end date2014-12-31
Total amount of commissions paid to insurance brokerUSD $2,743
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 $2,743
Insurance broker organization code?3
Insurance broker nameCBIZ BENEFITS & INS SERV INC
HARTFORD LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 88072 )
Policy contract numberGA-022999
Policy instance 1
Insurance contract or identification numberGA-022999
Number of Individuals Covered27
Insurance policy start date2013-01-01
Insurance policy end date2013-12-31
Total amount of commissions paid to insurance brokerUSD $2,675
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 $2,675
Insurance broker organization code?3
Insurance broker nameCBIZ BENEFITS & INSURANCE SVCS INC

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