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SAMEM INC 401(K) PLAN 401k Plan overview

Plan NameSAMEM INC 401(K) PLAN
Plan identification number 001

SAMEM INC 401(K) 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.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • 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

SAMEM INC has sponsored the creation of one or more 401k plans.

Company Name:SAMEM INC
Employer identification number (EIN):872866360
NAIC Classification:236110

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SAMEM INC 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012021-09-23
0012021-09-23

Plan Statistics for SAMEM INC 401(K) PLAN

401k plan membership statisitcs for SAMEM INC 401(K) PLAN

Measure Date Value
2021: SAMEM INC 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year2021-09-230
Total number of active participants reported on line 7a of the Form 55002021-09-231
Number of retired or separated participants receiving benefits2021-09-230
Number of other retired or separated participants entitled to future benefits2021-09-230
Total of all active and inactive participants2021-09-231
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-09-230
Total participants2021-09-231
Number of participants with account balances2021-09-231
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-09-230

Financial Data on SAMEM INC 401(K) PLAN

Measure Date Value
2022 : SAMEM INC 401(K) PLAN 2022 401k financial data
Transfers to/from the plan2022-06-30$0
Total plan liabilities at end of year2022-06-30$0
Total plan liabilities at beginning of year2022-06-30$0
Total income from all sources2022-06-30$214,029
Expenses. Total of all expenses incurred2022-06-30$40
Benefits paid (including direct rollovers)2022-06-30$0
Total plan assets at end of year2022-06-30$213,989
Total plan assets at beginning of year2022-06-30$0
Value of fidelity bond covering the plan2022-06-30$30,000
Total contributions received or receivable from participants2022-06-30$0
Expenses. Other expenses not covered elsewhere2022-06-30$40
Contributions received from other sources (not participants or employers)2022-06-30$220,399
Other income received2022-06-30$-6,370
Noncash contributions received2022-06-30$0
Net income (gross income less expenses)2022-06-30$213,989
Net plan assets at end of year (total assets less liabilities)2022-06-30$213,989
Net plan assets at beginning of year (total assets less liabilities)2022-06-30$0
Assets. Value of employer securities2022-06-30$213,989
Total contributions received or receivable from employer(s)2022-06-30$0
Value of certain deemed distributions of participant loans2022-06-30$0
Value of corrective distributions2022-06-30$0
Expenses. Administrative service providers (salaries,fees and commissions)2022-06-30$0

Form 5500 Responses for SAMEM INC 401(K) PLAN

2021: SAMEM INC 401(K) PLAN 2021 form 5500 responses
2021-09-23Type of plan entitySingle employer plan
2021-09-23First time form 5500 has been submittedYes
2021-09-23Submission has been amendedNo
2021-09-23This submission is the final filingNo
2021-09-23This return/report is a short plan year return/report (less than 12 months)Yes
2021-09-23Plan is a collectively bargained planNo
2021-09-23Plan funding arrangement – TrustYes
2021-09-23Plan benefit arrangement - TrustYes

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