Combined 401(k) Profit Sharing Plan
for Sample Inc. 401(k) Plan
Sample Inc. 401(k) Plan
401(k)/New Comparability Profit Sharing Plan
Contribution Report
For the Plan Year 1/1/2021 through 12/31/2021
| Deferral | Safe Harbor Match | Profit Sharing | Catch Up | Total Contribution |
P | O | H | C | Name | Earnings | Att Age | Dollar | % | Dollar | % | Dollar | % | Dollar | Amount | % of Pay | Employer Cost | % of Total |
* | * | * | A | Sample, Jon | 290,000 | 56 | 19,500 | 6.72 | 11,600 | 4.00 | 26,900 | 9.28 | 6,500 | 64,500 | 22.24 | 38,500 | 42.47 |
| | | C | Sample, Dave | 175,000 | 53 | 19,500 | 11.14 | 7,000 | 4.00 | 0 | 0.00 | 6,500 | 33,000 | 18.86 | 7,000 | 7.72 |
| | | B | Sample, Frank | 40,453 | 32 | 747 | 1.85 | 747 | 1.85 | 1,251 | 3.09 | 0 | 2,745 | 6.79 | 1,998 | 2.20 |
| | | B | Sample, James | 55,337 | 37 | 1,022 | 1.85 | 1,022 | 1.85 | 1,711 | 3.09 | 0 | 3,755 | 6.79 | 2,733 | 3.01 |
| | | B | Sample, Jeff | 115,000 | 53 | 11,500 | 10.00 | 4,600 | 4.00 | 3,556 | 3.09 | 0 | 19,656 | 17.09 | 8,156 | 9.00 |
| | | B | Sample, Jill | 49,412 | 50 | 1,368 | 2.77 | 1,368 | 2.77 | 1,528 | 3.09 | 0 | 4,264 | 8.63 | 2,896 | 3.19 |
| | | B | Sample, Jim | 125,000 | 64 | 12,500 | 10.00 | 5,000 | 4.00 | 3,865 | 3.09 | 0 | 21,365 | 17.09 | 8,865 | 9.78 |
| | | B | Sample, Lynn | 32,500 | 63 | 1,200 | 3.69 | 1,088 | 3.35 | 1,005 | 3.09 | 0 | 3,292 | 10.13 | 2,092 | 2.31 |
| | | B | Sample, Michael | 110,000 | 53 | 11,000 | 10.00 | 4,400 | 4.00 | 3,401 | 3.09 | 0 | 18,801 | 17.09 | 7,801 | 8.61 |
| | | B | Sample, Mitchell | 44,308 | 31 | 0 | 0.00 | 0 | 0.00 | 1,370 | 3.09 | 0 | 1,370 | 3.09 | 1,370 | 1.51 |
| | | B | Sample, Ray | 55,337 | 52 | 0 | 0.00 | 0 | 0.00 | 1,711 | 3.09 | 0 | 1,711 | 3.09 | 1,711 | 1.89 |
| | | B | Sample, Tom | 49,412 | 36 | 0 | 0.00 | 0 | 0.00 | 1,528 | 3.09 | 0 | 1,528 | 3.09 | 1,528 | 1.69 |
| | | C | Sample, Kim | 150,000 | 53 | 15,000 | 10.00 | 6,000 | 4.00 | 0 | 0.00 | 0 | 21,000 | 14.00 | 6,000 | 6.62 |
TOTALS -> | 1,291,760 | | 93,337 | | 42,824 | | 47,825 | | 13,000 | 196,987 | | 90,650 | 100.00 |
*** Report Summary *** |
| Considered Earnings | Employer Cost | Percent of Pay | Percent of Total |
Principals | 290,000 | 38,500 | 13.28 | 42.47 |
Non-Principals | 1,001,760 | 52,150 | 5.21 | 57.53 |
Grand Totals | 1,291,760 | 90,650 | 7.02 | 100.00 |
Legend: P - Principal, O - Owner, H - Highly Compensated Employees, C - Class
Tax Summary Report Sample Inc. 401(k) Plan
For the Plan Year 1/1/2021 through 12/31/2021
Assumed Tax Brackets | 15% | 34% |
Employer Contribution | $ 90,650 | $ 90,650 |
Estimated Tax Savings | $ 13,598 | $ 30,821 |
Net Cost After Estimated Tax Savings | $ 77,052 | $ 59,829 |
Contribution For Principals | $ 38,500 | $ 38,500 |
Principal Contribution As A Percentage Of Net Cost | 50% | 64% |
Net Cost Of Plan (After Principal Contribution And Tax Savings) | $ 38,552 | $ 21,329 |
Sample Inc. 401(k) Plan Employee Census Listing
For the Plan Year 1/1/2021 to 12/31/2021
P | O | H | C | Last Name | First Name | Birth Date | Hire Date | Hours Worked | Part Date | Att Age | RA | Past Srvc | Earnings | % Own | Defrl Over | Status |
* | * | * | A | Sample | Jon | 02/23/1965 | 05/17/2010 | 1040 | 01/01/2021 | 56 | 65 | 11 | 290,000 | 100 | 100.00% | Active |
| | | B | Sample | Frank | 03/29/1989 | 03/27/2006 | 1040 | 01/01/2021 | 32 | 65 | 15 | 40,453 | 0 | 747.00 | Active |
| | | B | Sample | James | 09/19/1983 | 04/01/2012 | 1040 | 01/01/2021 | 37 | 65 | 8 | 55,337 | 0 | 1,022.00 | Active |
| | | B | Sample | Jeff | 01/02/1968 | 02/02/2009 | 1040 | 01/01/2021 | 53 | 65 | 12 | 115,000 | 0 | 10.00% | Active |
| | | B | Sample | Jill | 06/04/1971 | 01/01/2003 | 1040 | 01/01/2021 | 50 | 65 | 18 | 49,412 | 0 | 1,368.00 | Active |
| | | B | Sample | Jim | 10/09/1956 | 02/14/2002 | 1040 | 01/01/2021 | 64 | 69 | 19 | 125,000 | 0 | 10.00% | Active |
| | | B | Sample | Lynn | 11/11/1957 | 07/16/2009 | 1040 | 01/01/2021 | 63 | 68 | 11 | 32,500 | 0 | 1,200.00 | Active |
| | | B | Sample | Michael | 07/01/1968 | 05/01/2003 | 1040 | 01/01/2021 | 53 | 65 | 18 | 110,000 | 0 | 10.00% | Active |
| | | B | Sample | Mitchell | 01/02/1990 | 02/02/2009 | 1040 | 01/01/2021 | 31 | 65 | 12 | 44,308 | 0 | 0.00% | Active |
| | | B | Sample | Ray | 09/19/1968 | 04/01/2012 | 1040 | 01/01/2021 | 52 | 65 | 8 | 55,337 | 0 | 0.00% | Active |
| | | B | Sample | Tom | 06/04/1985 | 01/01/2003 | 1040 | 01/01/2021 | 36 | 65 | 18 | 49,412 | 0 | 0.00% | Active |
| | | C | Sample | Kim | 02/23/1968 | 05/17/2010 | 1040 | 01/01/2021 | 53 | 65 | 11 | 150,000 | 0 | 10.00% | Active |
| | | C | Sample | Dave | 07/01/1968 | 05/01/2003 | 1040 | 01/01/2021 | 53 | 65 | 18 | 175,000 | 0 | 100.00% | Active |
| Persons | Earnings |
ACTIVES | 13 | 1,291,760 |
Total | 13 | 1,291,760 |
Considered Earnings | | 1,291,760 |
Legend: P - Principal, O - Owner, H - Highly Compensated Employees, C - Class
Prepared By: Kirsten Curry, CEO of Leading Retirement Solutions
Leading Retirement Solutions
(206) 430-5084 phone
(800) 974-2814 (toll free)
service@leadingretirement.com
www.leadingretirement.com
Our mission: to proactively support organizations and lead them toward a secure future.