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CENTRAL STATES MANUFACTURING, INC. 401(K) SAVINGS PLAN 401k Plan overview

Plan NameCENTRAL STATES MANUFACTURING, INC. 401(K) SAVINGS PLAN
Plan identification number 001

CENTRAL STATES MANUFACTURING, INC. 401(K) SAVINGS 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.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

CENTRAL STATES, INC. has sponsored the creation of one or more 401k plans.

Company Name:CENTRAL STATES, INC.
Employer identification number (EIN):384304274
NAIC Classification:332300

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CENTRAL STATES MANUFACTURING, INC. 401(K) SAVINGS PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01

Plan Statistics for CENTRAL STATES MANUFACTURING, INC. 401(K) SAVINGS PLAN

401k plan membership statisitcs for CENTRAL STATES MANUFACTURING, INC. 401(K) SAVINGS PLAN

Measure Date Value
2023: CENTRAL STATES MANUFACTURING, INC. 401(K) SAVINGS PLAN 2023 401k membership
Total participants, beginning-of-year2023-01-011,610
Total number of active participants reported on line 7a of the Form 55002023-01-011,319
Number of retired or separated participants receiving benefits2023-01-010
Number of other retired or separated participants entitled to future benefits2023-01-01200
Total of all active and inactive participants2023-01-011,519
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2023-01-016
Total participants2023-01-011,525
Number of participants with account balances2023-01-011,462
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2023-01-01390

Financial Data on CENTRAL STATES MANUFACTURING, INC. 401(K) SAVINGS PLAN

Measure Date Value
2023 : CENTRAL STATES MANUFACTURING, INC. 401(K) SAVINGS PLAN 2023 401k financial data
Total unrealized appreciation/depreciation of assets2023-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-12-31$210,599
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-12-31$30,797
Total income from all sources (including contributions)2023-12-31$15,513,438
Total loss/gain on sale of assets2023-12-31$0
Total of all expenses incurred2023-12-31$5,946,101
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2023-12-31$5,679,121
Value of total corrective distributions2023-12-31$30,797
Total contributions o plan (from employers,participants, others, non cash contrinutions)2023-12-31$9,103,629
Value of total assets at end of year2023-12-31$43,151,256
Value of total assets at beginning of year2023-12-31$33,404,117
Total of administrative expenses incurred including professional, contract, advisory and management fees2023-12-31$236,183
Total interest from all sources2023-12-31$101,150
Total dividends received (eg from common stock, registered investment company shares)2023-12-31$686,489
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2023-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2023-12-31$686,489
Was this plan covered by a fidelity bond2023-12-31Yes
Value of fidelity bond cover2023-12-31$500,000
If this is an individual account plan, was there a blackout period2023-12-31No
Were there any nonexempt tranactions with any party-in-interest2023-12-31No
Contributions received from participants2023-12-31$3,745,435
Participant contributions at end of year2023-12-31$1,845,291
Participant contributions at beginning of year2023-12-31$1,495,425
Participant contributions at end of year2023-12-31$77,683
Participant contributions at beginning of year2023-12-31$55,280
Income. Received or receivable in cash from other sources (including rollovers)2023-12-31$3,073,275
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2023-12-31$210,599
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2023-12-31$30,797
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2023-12-31No
Value of net income/loss2023-12-31$9,567,337
Value of net assets at end of year (total assets less liabilities)2023-12-31$42,940,657
Value of net assets at beginning of year (total assets less liabilities)2023-12-31$33,373,320
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2023-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2023-12-31No
Were any leases to which the plan was party in default or uncollectible2023-12-31No
Investment advisory and management fees2023-12-31$85,640
Value of interest in registered invesment companies (eg mutual funds) at end of year2023-12-31$40,207,812
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2023-12-31$30,950,690
Value of interest in pooled separate accounts at end of year2023-12-31$924,740
Value of interest in pooled separate accounts at beginning of year2023-12-31$793,524
Interest on participant loans2023-12-31$101,150
Net investment gain/loss from registered investment companies (e.g. mutual funds)2023-12-31$5,527,146
Net investment gain/loss from pooled separate accounts2023-12-31$95,024
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2023-12-31No
Was there a failure to transmit to the plan any participant contributions2023-12-31Yes
Has the plan failed to provide any benefit when due under the plan2023-12-31No
Contributions received in cash from employer2023-12-31$2,284,919
Employer contributions (assets) at end of year2023-12-31$95,730
Employer contributions (assets) at beginning of year2023-12-31$109,198
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2023-12-31$5,679,121
Contract administrator fees2023-12-31$150,543
Did the plan have assets held for investment2023-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2023-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2023-12-31No
Opinion of an independent qualified public accountant for this plan2023-12-31Unqualified
Accountancy firm name2023-12-31HOGANTAYLOR LLP
Accountancy firm EIN2023-12-31731413977

Form 5500 Responses for CENTRAL STATES MANUFACTURING, INC. 401(K) SAVINGS PLAN

2023: CENTRAL STATES MANUFACTURING, INC. 401(K) SAVINGS PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01This submission is the final filingNo
2023-01-01This return/report is a short plan year return/report (less than 12 months)No
2023-01-01Plan is a collectively bargained planNo
2023-01-01Plan funding arrangement – InsuranceYes
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement – InsuranceYes
2023-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number714175
Policy instance 1
Insurance contract or identification number714175
Number of Individuals Covered1525
Insurance policy start date2023-01-01
Insurance policy end date2023-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No

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