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SOUTH COAST MUSIC GROUP LLC CASH BALANCE PLAN 401k Plan overview

Plan NameSOUTH COAST MUSIC GROUP LLC CASH BALANCE PLAN
Plan identification number 002

SOUTH COAST MUSIC GROUP LLC CASH BALANCE PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • 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).

401k Sponsoring company profile

SOUTH COAST MUSIC GROUP LLC has sponsored the creation of one or more 401k plans.

Company Name:SOUTH COAST MUSIC GROUP LLC
Employer identification number (EIN):813898386
NAIC Classification:711510
NAIC Description:Independent Artists, Writers, and Performers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SOUTH COAST MUSIC GROUP LLC CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01ARNOLD TAYLOR2024-06-20
0022022-01-01ARNOLD TAYLOR2023-08-24
0022021-01-01ARNOLD TAYLOR2022-09-28
0022020-01-01ARNOLD TAYLOR2021-07-28

Plan Statistics for SOUTH COAST MUSIC GROUP LLC CASH BALANCE PLAN

401k plan membership statisitcs for SOUTH COAST MUSIC GROUP LLC CASH BALANCE PLAN

Measure Date Value
2022: SOUTH COAST MUSIC GROUP LLC CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-31281,938
Acturial value of plan assets2022-12-31281,938
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-311
Fundng target for terminated vested participants2022-12-310
Active participant vested funding target2022-12-31345,963
Number of active participants2022-12-312
Total funding liabilities for active participants2022-12-31345,963
Total participant count2022-12-313
Total funding target for all participants2022-12-31345,963
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2022-12-310
Prefunding balanced used to offset prior years funding requirement2022-12-310
Amount remaining of carryover balance2022-12-310
Amount remaining of prefunding balance2022-12-310
Present value of excess contributions2022-12-3153,287
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-3153,287
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-310
Reductions in caryover balances due to elections or deemed elections2022-12-310
Reductions in prefunding balances due to elections or deemed elections2022-12-310
Balance of carryovers at beginning of current year2022-12-310
Balance of prefunding at beginning of current year2022-12-310
Total employer contributions2022-12-31171,750
Total employee contributions2022-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2022-12-310
Contributions made to avoid restrictions adjusted to valuation date2022-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-12-31169,964
Unpaid minimum required contributions for all prior years2022-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-12-310
Remaining amount of unpaid minimum required contributions2022-12-310
Minimum required contributions for current year target normal cost2022-12-31161,617
Net shortfall amortization installment of oustanding balance2022-12-3164,025
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-31167,534
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-31167,534
Contributions allocatedtoward minimum required contributions for current year2022-12-31169,964
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: SOUTH COAST MUSIC GROUP LLC CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-31166,890
Acturial value of plan assets2021-12-31166,890
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-310
Fundng target for terminated vested participants2021-12-310
Active participant vested funding target2021-12-310
Number of active participants2021-12-313
Total funding liabilities for active participants2021-12-3171,680
Total participant count2021-12-313
Total funding target for all participants2021-12-3171,680
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2021-12-310
Prefunding balanced used to offset prior years funding requirement2021-12-310
Amount remaining of carryover balance2021-12-310
Amount remaining of prefunding balance2021-12-310
Present value of excess contributions2021-12-3126,791
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-3126,791
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-310
Reductions in caryover balances due to elections or deemed elections2021-12-310
Reductions in prefunding balances due to elections or deemed elections2021-12-310
Balance of carryovers at beginning of current year2021-12-310
Balance of prefunding at beginning of current year2021-12-310
Total employer contributions2021-12-31165,000
Total employee contributions2021-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2021-12-310
Contributions made to avoid restrictions adjusted to valuation date2021-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-12-31163,226
Unpaid minimum required contributions for all prior years2021-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-12-310
Remaining amount of unpaid minimum required contributions2021-12-310
Minimum required contributions for current year target normal cost2021-12-31205,150
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-31109,940
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-31109,940
Contributions allocatedtoward minimum required contributions for current year2021-12-31163,226
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: SOUTH COAST MUSIC GROUP LLC CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-310
Acturial value of plan assets2020-12-310
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-310
Fundng target for terminated vested participants2020-12-310
Active participant vested funding target2020-12-310
Number of active participants2020-12-312
Total funding liabilities for active participants2020-12-310
Total participant count2020-12-312
Total funding target for all participants2020-12-310
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2020-12-310
Prefunding balanced used to offset prior years funding requirement2020-12-310
Amount remaining of carryover balance2020-12-310
Amount remaining of prefunding balance2020-12-310
Present value of excess contributions2020-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-310
Reductions in caryover balances due to elections or deemed elections2020-12-310
Reductions in prefunding balances due to elections or deemed elections2020-12-310
Balance of carryovers at beginning of current year2020-12-310
Balance of prefunding at beginning of current year2020-12-310
Total employer contributions2020-12-31162,700
Total employee contributions2020-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2020-12-310
Contributions made to avoid restrictions adjusted to valuation date2020-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-12-31158,106
Unpaid minimum required contributions for all prior years2020-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-12-310
Remaining amount of unpaid minimum required contributions2020-12-310
Minimum required contributions for current year target normal cost2020-12-31131,315
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-31131,315
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-31131,315
Contributions allocatedtoward minimum required contributions for current year2020-12-31158,106
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310

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