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TULIP MOLDED PLASTICS CORPORATION UAW LOCAL #2571 401(K) PLAN 401k Plan overview

Plan NameTULIP MOLDED PLASTICS CORPORATION UAW LOCAL #2571 401(K) PLAN
Plan identification number 011

TULIP MOLDED PLASTICS CORPORATION UAW LOCAL #2571 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • 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.

401k Sponsoring company profile

TULIP MOLDED PLASTICS CORPORATION has sponsored the creation of one or more 401k plans.

Company Name:TULIP MOLDED PLASTICS CORPORATION
Employer identification number (EIN):454030421
NAIC Classification:326100

Additional information about TULIP MOLDED PLASTICS CORPORATION

Jurisdiction of Incorporation: State of Delaware Division of Corporations
Incorporation Date:
Company Identification Number: 5077167

More information about TULIP MOLDED PLASTICS CORPORATION

Form 5500 Filing Information

Submission information for form 5500 for 401k plan TULIP MOLDED PLASTICS CORPORATION UAW LOCAL #2571 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0112021-01-01
0112020-01-01
0112019-01-01
0112018-01-01JEAN SOMMERS2019-09-23
0112017-01-01GEORGE KOLEAS2018-09-26
0112016-01-01GEORGE KOLEAS2017-07-24
0112015-01-01GEORGE KOLEAS2016-06-16
0112014-01-01GEORGE KOLEAS2015-08-13
0112013-01-01GEORGE KOLEAS2014-07-14
0112012-01-01GEORGE KOLEAS2013-07-08
0112011-01-01JAMES CARTER2012-07-12

Plan Statistics for TULIP MOLDED PLASTICS CORPORATION UAW LOCAL #2571 401(K) PLAN

401k plan membership statisitcs for TULIP MOLDED PLASTICS CORPORATION UAW LOCAL #2571 401(K) PLAN

Measure Date Value
2021: TULIP MOLDED PLASTICS CORPORATION UAW LOCAL #2571 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-01195
Total number of active participants reported on line 7a of the Form 55002021-01-0195
Number of retired or separated participants receiving benefits2021-01-011
Number of other retired or separated participants entitled to future benefits2021-01-0191
Total of all active and inactive participants2021-01-01187
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-012
Total participants2021-01-01189
Number of participants with account balances2021-01-01189
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-017
2020: TULIP MOLDED PLASTICS CORPORATION UAW LOCAL #2571 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-01167
Total number of active participants reported on line 7a of the Form 55002020-01-0191
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-01101
Total of all active and inactive participants2020-01-01192
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-012
Total participants2020-01-01194
Number of participants with account balances2020-01-01194
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-0117
2019: TULIP MOLDED PLASTICS CORPORATION UAW LOCAL #2571 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-01138
Total number of active participants reported on line 7a of the Form 55002019-01-0179
Number of retired or separated participants receiving benefits2019-01-011
Number of other retired or separated participants entitled to future benefits2019-01-0185
Total of all active and inactive participants2019-01-01165
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-011
Total participants2019-01-01166
Number of participants with account balances2019-01-01166
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-0122

Financial Data on TULIP MOLDED PLASTICS CORPORATION UAW LOCAL #2571 401(K) PLAN

Measure Date Value
2021 : TULIP MOLDED PLASTICS CORPORATION UAW LOCAL #2571 401(K) PLAN 2021 401k financial data
Total income from all sources (including contributions)2021-12-31$642,614
Total of all expenses incurred2021-12-31$106,862
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$90,178
Expenses. Certain deemed distributions of participant loans2021-12-31$4,332
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$288,256
Value of total assets at end of year2021-12-31$3,460,550
Value of total assets at beginning of year2021-12-31$2,924,798
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$12,352
Total interest from all sources2021-12-31$5,504
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Administrative expenses professional fees incurred2021-12-31$8,500
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$1,000,000
If this is an individual account plan, was there a blackout period2021-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Contributions received from participants2021-12-31$205,450
Participant contributions at end of year2021-12-31$151,234
Participant contributions at beginning of year2021-12-31$148,010
Value of other receiveables (less allowance for doubtful accounts) at end of year2021-12-31$264
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2021-12-31$618
Administrative expenses (other) incurred2021-12-31$3,852
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$535,752
Value of net assets at end of year (total assets less liabilities)2021-12-31$3,460,550
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$2,924,798
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2021-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2021-12-31No
Were any leases to which the plan was party in default or uncollectible2021-12-31No
Value of interest in pooled separate accounts at end of year2021-12-31$3,116,253
Value of interest in pooled separate accounts at beginning of year2021-12-31$2,628,523
Interest on participant loans2021-12-31$4,448
Interest earned on other investments2021-12-31$1,056
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2021-12-31$172,151
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2021-12-31$126,333
Net investment gain/loss from pooled separate accounts2021-12-31$348,854
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-12-31No
Was there a failure to transmit to the plan any participant contributions2021-12-31No
Has the plan failed to provide any benefit when due under the plan2021-12-31No
Contributions received in cash from employer2021-12-31$82,806
Employer contributions (assets) at end of year2021-12-31$20,648
Employer contributions (assets) at beginning of year2021-12-31$21,314
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$90,178
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32021-12-31No
Did the plan have assets held for investment2021-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2021-12-31No
Opinion of an independent qualified public accountant for this plan2021-12-31Unqualified
Accountancy firm name2021-12-31WINDHAM BRANNON LLC
Accountancy firm EIN2021-12-31581763439
2020 : TULIP MOLDED PLASTICS CORPORATION UAW LOCAL #2571 401(K) PLAN 2020 401k financial data
Total income from all sources (including contributions)2020-12-31$661,629
Total of all expenses incurred2020-12-31$46,611
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-12-31$30,647
Expenses. Certain deemed distributions of participant loans2020-12-31$12,189
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-12-31$261,861
Value of total assets at end of year2020-12-31$2,924,798
Value of total assets at beginning of year2020-12-31$2,309,780
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-12-31$3,775
Total interest from all sources2020-12-31$5,840
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-12-31No
Was this plan covered by a fidelity bond2020-12-31Yes
Value of fidelity bond cover2020-12-31$1,000,000
If this is an individual account plan, was there a blackout period2020-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
Were there any nonexempt tranactions with any party-in-interest2020-12-31No
Contributions received from participants2020-12-31$154,287
Participant contributions at end of year2020-12-31$148,010
Participant contributions at beginning of year2020-12-31$111,627
Income. Received or receivable in cash from other sources (including rollovers)2020-12-31$76,496
Value of other receiveables (less allowance for doubtful accounts) at end of year2020-12-31$618
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2020-12-31$88
Administrative expenses (other) incurred2020-12-31$3,775
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Value of net income/loss2020-12-31$615,018
Value of net assets at end of year (total assets less liabilities)2020-12-31$2,924,798
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$2,309,780
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2020-12-31No
Were any leases to which the plan was party in default or uncollectible2020-12-31No
Value of interest in pooled separate accounts at end of year2020-12-31$2,628,523
Value of interest in pooled separate accounts at beginning of year2020-12-31$2,014,709
Interest on participant loans2020-12-31$4,750
Interest earned on other investments2020-12-31$1,090
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2020-12-31$126,333
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2020-12-31$137,830
Net investment gain/loss from pooled separate accounts2020-12-31$393,928
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-12-31No
Was there a failure to transmit to the plan any participant contributions2020-12-31No
Has the plan failed to provide any benefit when due under the plan2020-12-31No
Contributions received in cash from employer2020-12-31$31,078
Employer contributions (assets) at end of year2020-12-31$21,314
Employer contributions (assets) at beginning of year2020-12-31$45,526
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-12-31$30,647
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32020-12-31No
Did the plan have assets held for investment2020-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-12-31No
Opinion of an independent qualified public accountant for this plan2020-12-31Disclaimer
Accountancy firm name2020-12-31VRAKAS S.C.
Accountancy firm EIN2020-12-31391453055
2019 : TULIP MOLDED PLASTICS CORPORATION UAW LOCAL #2571 401(K) PLAN 2019 401k financial data
Total income from all sources (including contributions)2019-12-31$715,568
Total income from all sources (including contributions)2019-12-31$715,568
Total of all expenses incurred2019-12-31$295,800
Total of all expenses incurred2019-12-31$295,800
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-12-31$290,576
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-12-31$290,576
Expenses. Certain deemed distributions of participant loans2019-12-31$783
Expenses. Certain deemed distributions of participant loans2019-12-31$783
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-12-31$338,349
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-12-31$338,349
Value of total assets at end of year2019-12-31$2,309,780
Value of total assets at end of year2019-12-31$2,309,780
Value of total assets at beginning of year2019-12-31$1,890,012
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-12-31$4,441
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-12-31$4,441
Total interest from all sources2019-12-31$5,795
Total interest from all sources2019-12-31$5,795
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-12-31No
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-12-31No
Was this plan covered by a fidelity bond2019-12-31Yes
Was this plan covered by a fidelity bond2019-12-31Yes
Value of fidelity bond cover2019-12-31$1,000,000
Value of fidelity bond cover2019-12-31$1,000,000
If this is an individual account plan, was there a blackout period2019-12-31No
If this is an individual account plan, was there a blackout period2019-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
Were there any nonexempt tranactions with any party-in-interest2019-12-31No
Were there any nonexempt tranactions with any party-in-interest2019-12-31No
Contributions received from participants2019-12-31$156,467
Contributions received from participants2019-12-31$156,467
Participant contributions at end of year2019-12-31$111,627
Participant contributions at end of year2019-12-31$111,627
Participant contributions at beginning of year2019-12-31$96,575
Value of other receiveables (less allowance for doubtful accounts) at end of year2019-12-31$88
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2019-12-31$0
Administrative expenses (other) incurred2019-12-31$4,441
Administrative expenses (other) incurred2019-12-31$4,441
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Value of net income/loss2019-12-31$419,768
Value of net income/loss2019-12-31$419,768
Value of net assets at end of year (total assets less liabilities)2019-12-31$2,309,780
Value of net assets at end of year (total assets less liabilities)2019-12-31$2,309,780
Value of net assets at beginning of year (total assets less liabilities)2019-12-31$1,890,012
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-12-31No
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2019-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2019-12-31No
Were any leases to which the plan was party in default or uncollectible2019-12-31No
Were any leases to which the plan was party in default or uncollectible2019-12-31No
Value of interest in pooled separate accounts at end of year2019-12-31$2,014,709
Value of interest in pooled separate accounts at end of year2019-12-31$2,014,709
Value of interest in pooled separate accounts at beginning of year2019-12-31$1,671,337
Interest on participant loans2019-12-31$4,611
Interest on participant loans2019-12-31$4,611
Interest earned on other investments2019-12-31$1,184
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2019-12-31$137,830
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2019-12-31$137,830
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2019-12-31$122,100
Net investment gain/loss from pooled separate accounts2019-12-31$371,424
Net investment gain/loss from pooled separate accounts2019-12-31$371,424
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-12-31No
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-12-31No
Was there a failure to transmit to the plan any participant contributions2019-12-31No
Was there a failure to transmit to the plan any participant contributions2019-12-31No
Has the plan failed to provide any benefit when due under the plan2019-12-31No
Has the plan failed to provide any benefit when due under the plan2019-12-31No
Contributions received in cash from employer2019-12-31$181,882
Contributions received in cash from employer2019-12-31$181,882
Employer contributions (assets) at end of year2019-12-31$45,526
Employer contributions (assets) at beginning of year2019-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-12-31$290,576
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-12-31$290,576
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32019-12-31No
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32019-12-31No
Did the plan have assets held for investment2019-12-31Yes
Did the plan have assets held for investment2019-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2019-12-31Yes
Opinion of an independent qualified public accountant for this plan2019-12-31Disclaimer
Opinion of an independent qualified public accountant for this plan2019-12-31Disclaimer
Accountancy firm name2019-12-31VRAKAS S.C.
Accountancy firm name2019-12-31VRAKAS S.C.
Accountancy firm EIN2019-12-31391453055
Accountancy firm EIN2019-12-31391453055

Form 5500 Responses for TULIP MOLDED PLASTICS CORPORATION UAW LOCAL #2571 401(K) PLAN

2021: TULIP MOLDED PLASTICS CORPORATION UAW LOCAL #2571 401(K) PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Plan funding arrangement – InsuranceYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement – InsuranceYes
2021-01-01Plan benefit arrangement - TrustYes
2020: TULIP MOLDED PLASTICS CORPORATION UAW LOCAL #2571 401(K) PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Plan funding arrangement – InsuranceYes
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement – InsuranceYes
2020-01-01Plan benefit arrangement - TrustYes
2019: TULIP MOLDED PLASTICS CORPORATION UAW LOCAL #2571 401(K) PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Plan funding arrangement – InsuranceYes
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement – InsuranceYes
2019-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

TRANSAMERICA FINANCIAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 70688 )
Policy contract number342724
Policy instance 1
Insurance contract or identification number342724
Number of Individuals Covered189
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $6,125
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $5,703
Insurance broker organization code?3
TRANSAMERICA FINANCIAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 70688 )
Policy contract number342724
Policy instance 1
Insurance contract or identification number342724
Number of Individuals Covered194
Insurance policy start date2020-01-01
Insurance policy end date2020-12-31
Total amount of commissions paid to insurance brokerUSD $4,639
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $4,639
Insurance broker organization code?3
TRANSAMERICA FINANCIAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 70688 )
Policy contract number342724
Policy instance 1
Insurance contract or identification number342724
Number of Individuals Covered166
Insurance policy start date2019-01-01
Insurance policy end date2019-12-31
Total amount of commissions paid to insurance brokerUSD $4,082
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $4,082
Insurance broker organization code?3

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