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ITT KONI FRICTION PRODUCTS SAVINGS PLAN FOR HOURLY EMPLOYEES 401k Plan overview

Plan NameITT KONI FRICTION PRODUCTS SAVINGS PLAN FOR HOURLY EMPLOYEES
Plan identification number 001

ITT KONI FRICTION PRODUCTS SAVINGS PLAN FOR HOURLY EMPLOYEES Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Floor-offset plan - Plan benefits are subject to offset for retirement benefits provided by an employer-sponsored defined contribution plan.
  • Code section 401(h) arrangement - Plan contains separate accounts under Code section 401(h) to provide employee health benefits.
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
  • 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.
  • Partial participant-directed account plan - Participants have the opportunity to direct the investment of a portion of 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.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • 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.
  • Prototype plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion or notification letter; and under which a seperate funding medium (for example, a seperate trust or custodial account) is established for the use of each adopting employer.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

ITT CORPORATION has sponsored the creation of one or more 401k plans.

Company Name:ITT CORPORATION
Employer identification number (EIN):135158950
NAIC Classification:333200

Additional information about ITT CORPORATION

Jurisdiction of Incorporation: State of Delaware Division of Corporations
Incorporation Date:
Company Identification Number: 2565599

More information about ITT CORPORATION

Form 5500 Filing Information

Submission information for form 5500 for 401k plan ITT KONI FRICTION PRODUCTS SAVINGS PLAN FOR HOURLY EMPLOYEES

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012009-01-01SANDRA CONSTANTINE
0012009-01-01SHERRI MAGILL JANICE KLETTNER2010-10-12
0012009-01-01MICHAEL SEAY JANICE KLETTNER2010-10-12
0012009-01-01SANDRA CONSTANTINE JANICE KLETTNER2010-11-10
0012009-01-01SHERRI MAGILL JANICE KLETTNER2010-10-12

Plan Statistics for ITT KONI FRICTION PRODUCTS SAVINGS PLAN FOR HOURLY EMPLOYEES

401k plan membership statisitcs for ITT KONI FRICTION PRODUCTS SAVINGS PLAN FOR HOURLY EMPLOYEES

Measure Date Value
2009: ITT KONI FRICTION PRODUCTS SAVINGS PLAN FOR HOURLY EMPLOYEES 2009 401k membership
Total participants, beginning-of-year2009-01-0112
Total number of active participants reported on line 7a of the Form 55002009-01-016
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-013
Total of all active and inactive participants2009-01-019
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-019
Number of participants with account balances2009-01-017
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

Financial Data on ITT KONI FRICTION PRODUCTS SAVINGS PLAN FOR HOURLY EMPLOYEES

Measure Date Value
2010 : ITT KONI FRICTION PRODUCTS SAVINGS PLAN FOR HOURLY EMPLOYEES 2010 401k financial data
Total unrealized appreciation/depreciation of assets2010-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$510,939
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$511,926
Total income from all sources (including contributions)2010-12-31$541,212,962
Total loss/gain on sale of assets2010-12-31$0
Total of all expenses incurred2010-12-31$283,508,484
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2010-12-31$283,508,484
Total contributions o plan (from employers,participants, others, non cash contrinutions)2010-12-31$50,000,000
Value of total assets at end of year2010-12-31$3,980,778,264
Value of total assets at beginning of year2010-12-31$3,723,074,808
Total of administrative expenses incurred including professional, contract, advisory and management fees2010-12-31$0
Total interest from all sources2010-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2010-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2010-12-31No
Was this plan covered by a fidelity bond2010-12-31Yes
Value of fidelity bond cover2010-12-31$15,000,000
If this is an individual account plan, was there a blackout period2010-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
Were there any nonexempt tranactions with any party-in-interest2010-12-31No
Liabilities. Value of operating payables at end of year2010-12-31$510,939
Liabilities. Value of operating payables at beginning of year2010-12-31$511,926
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Value of net income/loss2010-12-31$257,704,478
Value of net assets at end of year (total assets less liabilities)2010-12-31$3,980,267,325
Value of net assets at beginning of year (total assets less liabilities)2010-12-31$3,722,562,882
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2010-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2010-12-31No
Were any leases to which the plan was party in default or uncollectible2010-12-31No
Value of interest in master investment trust accounts at end of year2010-12-31$3,980,778,264
Value of interest in master investment trust accounts at beginning of year2010-12-31$3,723,074,808
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2010-12-31No
Was there a failure to transmit to the plan any participant contributions2010-12-31No
Has the plan failed to provide any benefit when due under the plan2010-12-31No
Contributions received in cash from employer2010-12-31$50,000,000
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2010-12-31$283,508,484
Did the plan have assets held for investment2010-12-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2010-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2010-12-31No
Opinion of an independent qualified public accountant for this plan2010-12-31Unqualified
Accountancy firm name2010-12-31DELOITTE & TOUCHE LLP
Accountancy firm EIN2010-12-31133891517
2009 : ITT KONI FRICTION PRODUCTS SAVINGS PLAN FOR HOURLY EMPLOYEES 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for ITT KONI FRICTION PRODUCTS SAVINGS PLAN FOR HOURLY EMPLOYEES

2009: ITT KONI FRICTION PRODUCTS SAVINGS PLAN FOR HOURLY EMPLOYEES 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – InsuranceYes
2009-01-01Plan benefit arrangement – InsuranceYes

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