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THE GOOD COLLECTIVE, INC. DEFINED BENEFIT PENSION PLAN 401k Plan overview

Plan NameTHE GOOD COLLECTIVE, INC. DEFINED BENEFIT PENSION PLAN
Plan identification number 003

THE GOOD COLLECTIVE, INC. DEFINED BENEFIT PENSION PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • 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.

401k Sponsoring company profile

THE GOOD COLLECTIVE INC has sponsored the creation of one or more 401k plans.

Company Name:THE GOOD COLLECTIVE INC
Employer identification number (EIN):814321920
NAIC Classification:448310
NAIC Description:Jewelry Stores

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE GOOD COLLECTIVE, INC. DEFINED BENEFIT PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032023-01-01
0032022-01-01
0032021-01-01

Plan Statistics for THE GOOD COLLECTIVE, INC. DEFINED BENEFIT PENSION PLAN

401k plan membership statisitcs for THE GOOD COLLECTIVE, INC. DEFINED BENEFIT PENSION PLAN

Measure Date Value
2022: THE GOOD COLLECTIVE, INC. DEFINED BENEFIT PENSION PLAN 2022 401k membership
Market value of plan assets2022-12-31441,196
Acturial value of plan assets2022-12-31441,196
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-313
Fundng target for terminated vested participants2022-12-31273
Active participant vested funding target2022-12-31196,436
Number of active participants2022-12-316
Total funding liabilities for active participants2022-12-31198,477
Total participant count2022-12-319
Total funding target for all participants2022-12-31198,750
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 contributions2022-12-31294,415
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31294,415
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 contributions2022-12-31370,000
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 date2022-12-31356,081
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 cost2022-12-31300,679
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-3158,233
Additional cash requirement2022-12-3158,233
Contributions allocatedtoward minimum required contributions for current year2022-12-31356,081
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: THE GOOD COLLECTIVE, INC. DEFINED BENEFIT PENSION PLAN 2021 401k membership
Market value of plan assets2021-12-310
Acturial value of plan assets2021-12-310
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-312
Fundng target for terminated vested participants2021-12-31257
Active participant vested funding target2021-12-3124,467
Number of active participants2021-12-314
Total funding liabilities for active participants2021-12-3130,873
Total participant count2021-12-316
Total funding target for all participants2021-12-3131,130
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 contributions2021-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-310
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 contributions2021-12-31450,000
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 date2021-12-31437,446
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 cost2021-12-31137,901
Net shortfall amortization installment of oustanding balance2021-12-3131,130
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-31143,031
Additional cash requirement2021-12-31143,031
Contributions allocatedtoward minimum required contributions for current year2021-12-31437,446
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310

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