Plain-English plan summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, Salem Tools, Inc. 401(K) Plan is a benefit plan reported by Salem Tools, Inc. under EIN 54-0885549 and plan number 001. The latest loaded filing year is 2023. The filing reports 186 participants and $14,593,239 in end-of-year plan assets, where available in the loaded dataset.
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $14,593,239
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $14,593,239
- Net assets (BOY)
- $13,166,908
Income & contributions
- Employer contributions
- $217,742
- Participant contributions
- $516,142
- Total contributions
- $739,250
- Total income / additions
- $2,777,658
Expenses & distributions
- Benefits paid
- $1,319,792
- Administrative expenses
- $24,668
- Total expenses
- $1,351,327
- Net increase / (decrease)
- $1,426,331