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H & M METAL PROCESSING CASH BALANCE PLAN 401k Plan overview

Plan NameH & M METAL PROCESSING CASH BALANCE PLAN
Plan identification number 002

H & M METAL PROCESSING CASH BALANCE PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Cash balance or similar plan - Plan has a "cash balance" formula. For this purpose, a "cash balance" formula is a benefit formula in a defined benefit plan by whatever name (for example, personal account plan, pension equity plan, life cycle plan, cash account plan, etc.) that rather than, or in addition to, expressing the accrued benefit as a life annuity commencing at normal retirement age, defines benefits for each employee in terms more common to a defined contribution plan such as a single sum distribution amount (for example, 10 percent of final average pay times years of service, or the amount of the employee's hypothetical account balance).
  • Floor-offset plan - Plan benefits are subject to offset for retirement benefits provided by an employer-sponsored defined contribution plan.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

H & M METAL PROCESSING has sponsored the creation of one or more 401k plans.

Company Name:H & M METAL PROCESSING
Employer identification number (EIN):340666486
NAIC Classification:332810

Form 5500 Filing Information

Submission information for form 5500 for 401k plan H & M METAL PROCESSING CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022019-01-01ALEXANDRA MCMILLEN2020-05-20
0022018-01-01ALEXANDRA MCMILLEN2019-10-03
0022017-01-01ALEXANDRA MCMILLEN2018-09-13
0022016-01-01ALEXANDRA MCMILLEN2017-09-29

Plan Statistics for H & M METAL PROCESSING CASH BALANCE PLAN

401k plan membership statisitcs for H & M METAL PROCESSING CASH BALANCE PLAN

Measure Date Value
2019: H & M METAL PROCESSING CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-10-16791,748
Acturial value of plan assets2019-10-16791,748
Funding target for retired participants and beneficiaries receiving payment2019-10-160
Number of terminated vested participants2019-10-160
Fundng target for terminated vested participants2019-10-160
Active participant vested funding target2019-10-16801,057
Number of active participants2019-10-1636
Total funding liabilities for active participants2019-10-16801,057
Total participant count2019-10-1636
Total funding target for all participants2019-10-16801,057
Balance at beginning of prior year after applicable adjustments2019-10-160
Prefunding balance at beginning of prior year after applicable adjustments2019-10-160
Carryover balanced portion elected for use to offset prior years funding requirement2019-10-160
Prefunding balanced used to offset prior years funding requirement2019-10-160
Amount remaining of carryover balance2019-10-160
Amount remaining of prefunding balance2019-10-160
Present value of excess contributions2019-10-1632,166
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-10-1633,427
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-10-160
Reductions in caryover balances due to elections or deemed elections2019-10-160
Reductions in prefunding balances due to elections or deemed elections2019-10-160
Balance of carryovers at beginning of current year2019-10-160
Balance of prefunding at beginning of current year2019-10-160
Total employer contributions2019-10-164,096
Total employee contributions2019-10-160
Contributions allocated toward unpaid minimum require contributions from prior years2019-10-160
Contributions made to avoid restrictions adjusted to valuation date2019-10-160
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-10-163,981
Liquidity shortfalls end of Q12019-10-160
Liquidity shortfalls end of Q22019-10-160
Liquidity shortfalls end of Q32019-10-160
Liquidity shortfalls end of Q42019-10-160
Unpaid minimum required contributions for all prior years2019-10-160
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-10-160
Remaining amount of unpaid minimum required contributions2019-10-160
Minimum required contributions for current year target normal cost2019-10-160
Net shortfall amortization installment of oustanding balance2019-10-169,309
Waiver amortization installment2019-10-160
Total funding amount beforereflecting carryover/prefunding balances2019-10-162,097
Carryover balance elected to use to offset funding requirement2019-10-160
Prefunding balance elected to use to offset funding requirement2019-10-160
Additional cash requirement2019-10-162,097
Contributions allocatedtoward minimum required contributions for current year2019-10-163,981
Unpaid minimum required contributions for current year2019-10-160
Unpaid minimum required contributions for all years2019-10-160
2018: H & M METAL PROCESSING CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-31490,106
Acturial value of plan assets2018-12-31490,106
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-310
Fundng target for terminated vested participants2018-12-310
Active participant vested funding target2018-12-31520,213
Number of active participants2018-12-3138
Total funding liabilities for active participants2018-12-31520,213
Total participant count2018-12-3138
Total funding target for all participants2018-12-31520,213
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2018-12-310
Prefunding balanced used to offset prior years funding requirement2018-12-310
Amount remaining of carryover balance2018-12-310
Amount remaining of prefunding balance2018-12-310
Present value of excess contributions2018-12-317,320
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-317,320
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-310
Reductions in caryover balances due to elections or deemed elections2018-12-310
Reductions in prefunding balances due to elections or deemed elections2018-12-310
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-310
Total employer contributions2018-12-31309,790
Total employee contributions2018-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2018-12-310
Contributions made to avoid restrictions adjusted to valuation date2018-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-12-31301,611
Unpaid minimum required contributions for all prior years2018-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-12-310
Remaining amount of unpaid minimum required contributions2018-12-310
Minimum required contributions for current year target normal cost2018-12-31264,530
Net shortfall amortization installment of oustanding balance2018-12-3130,107
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31269,445
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-31269,445
Contributions allocatedtoward minimum required contributions for current year2018-12-31301,611
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: H & M METAL PROCESSING CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-12-31260,357
Acturial value of plan assets2017-12-31260,357
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-310
Fundng target for terminated vested participants2017-12-310
Active participant vested funding target2017-12-310
Number of active participants2017-12-3135
Total funding liabilities for active participants2017-12-31247,478
Total participant count2017-12-3135
Total funding target for all participants2017-12-31247,478
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2017-12-310
Prefunding balanced used to offset prior years funding requirement2017-12-310
Amount remaining of carryover balance2017-12-310
Amount remaining of prefunding balance2017-12-310
Present value of excess contributions2017-12-3132,698
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3132,698
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-12-310
Reductions in caryover balances due to elections or deemed elections2017-12-310
Reductions in prefunding balances due to elections or deemed elections2017-12-310
Balance of carryovers at beginning of current year2017-12-310
Balance of prefunding at beginning of current year2017-12-310
Total employer contributions2017-12-31248,131
Total employee contributions2017-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2017-12-310
Contributions made to avoid restrictions adjusted to valuation date2017-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-12-31241,920
Unpaid minimum required contributions for all prior years2017-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-12-310
Remaining amount of unpaid minimum required contributions2017-12-310
Minimum required contributions for current year target normal cost2017-12-31247,479
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31234,600
Additional cash requirement2017-12-31234,600
Contributions allocatedtoward minimum required contributions for current year2017-12-31241,920
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: H & M METAL PROCESSING CASH BALANCE PLAN 2016 401k membership
Market value of plan assets2016-12-310
Acturial value of plan assets2016-12-310
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-310
Fundng target for terminated vested participants2016-12-310
Active participant vested funding target2016-12-310
Number of active participants2016-12-3131
Total funding liabilities for active participants2016-12-310
Total participant count2016-12-3131
Total funding target for all participants2016-12-310
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2016-12-310
Prefunding balanced used to offset prior years funding requirement2016-12-310
Amount remaining of carryover balance2016-12-310
Amount remaining of prefunding balance2016-12-310
Present value of excess contributions2016-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2016-12-310
Reductions in caryover balances due to elections or deemed elections2016-12-310
Reductions in prefunding balances due to elections or deemed elections2016-12-310
Balance of carryovers at beginning of current year2016-12-310
Balance of prefunding at beginning of current year2016-12-310
Total employer contributions2016-12-31253,638
Total employee contributions2016-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2016-12-310
Contributions made to avoid restrictions adjusted to valuation date2016-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2016-12-31247,362
Unpaid minimum required contributions for all prior years2016-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2016-12-310
Remaining amount of unpaid minimum required contributions2016-12-310
Minimum required contributions for current year target normal cost2016-12-31214,664
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-31214,664
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-31214,664
Contributions allocatedtoward minimum required contributions for current year2016-12-31247,362
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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