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ARCONIC CORP. PENSION PLAN B 401k Plan overview

Plan NameARCONIC CORP. PENSION PLAN B
Plan identification number 004

ARCONIC CORP. PENSION PLAN B Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily flat dollar (includes dollars per year of service)
  • Code section 401(h) arrangement - Plan contains separate accounts under Code section 401(h) to provide employee health benefits.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

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

Company Name:ARCONIC CORPORATION
Employer identification number (EIN):842745636

Form 5500 Filing Information

Submission information for form 5500 for 401k plan ARCONIC CORP. PENSION PLAN B

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0042022-01-01
0042021-01-01
0042020-01-01

Plan Statistics for ARCONIC CORP. PENSION PLAN B

401k plan membership statisitcs for ARCONIC CORP. PENSION PLAN B

Measure Date Value
2022: ARCONIC CORP. PENSION PLAN B 2022 401k membership
Market value of plan assets2022-12-31791,600,378
Acturial value of plan assets2022-12-31755,395,643
Funding target for retired participants and beneficiaries receiving payment2022-12-31439,567,831
Number of terminated vested participants2022-12-312,469
Fundng target for terminated vested participants2022-12-3178,716,421
Active participant vested funding target2022-12-31245,543,209
Number of active participants2022-12-314,207
Total funding liabilities for active participants2022-12-31255,290,834
Total participant count2022-12-318,944
Total funding target for all participants2022-12-31773,575,086
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 contributions2022-12-31139,783,674
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31147,555,646
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-31121,200,000
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 year2022-12-31121,200,000
Total employer contributions2022-12-3120,300,000
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 date2022-12-3119,596,604
Liquidity shortfalls end of Q12022-12-310
Liquidity shortfalls end of Q22022-12-310
Liquidity shortfalls end of Q32022-12-310
Liquidity shortfalls end of Q42022-12-310
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 cost2022-12-3118,735,532
Net shortfall amortization installment of oustanding balance2022-12-31139,379,443
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-3131,615,788
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-3112,019,200
Additional cash requirement2022-12-3119,596,588
Contributions allocatedtoward minimum required contributions for current year2022-12-3119,596,604
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
Total participants, beginning-of-year2022-01-018,707
Total number of active participants reported on line 7a of the Form 55002022-01-013,877
Number of retired or separated participants receiving benefits2022-01-012,040
Number of other retired or separated participants entitled to future benefits2022-01-012,400
Total of all active and inactive participants2022-01-018,317
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-01201
Total participants2022-01-018,518
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-0186
2021: ARCONIC CORP. PENSION PLAN B 2021 401k membership
Market value of plan assets2021-12-311,280,269,926
Acturial value of plan assets2021-12-311,223,183,952
Funding target for retired participants and beneficiaries receiving payment2021-12-311,005,148,339
Number of terminated vested participants2021-12-312,425
Fundng target for terminated vested participants2021-12-3177,796,509
Active participant vested funding target2021-12-31242,794,502
Number of active participants2021-12-314,646
Total funding liabilities for active participants2021-12-31259,426,824
Total participant count2021-12-3114,650
Total funding target for all participants2021-12-311,342,371,672
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 contributions2021-12-31676
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-31712
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 contributions2021-12-31214,128,000
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 date2021-12-31211,503,989
Liquidity shortfalls end of Q12021-12-310
Liquidity shortfalls end of Q22021-12-310
Liquidity shortfalls end of Q32021-12-310
Liquidity shortfalls end of Q42021-12-310
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 cost2021-12-3121,817,113
Net shortfall amortization installment of oustanding balance2021-12-31119,187,720
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-3171,720,315
Additional cash requirement2021-12-3171,720,315
Contributions allocatedtoward minimum required contributions for current year2021-12-31211,503,989
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
Total participants, beginning-of-year2021-01-0114,650
Total number of active participants reported on line 7a of the Form 55002021-01-014,207
Number of retired or separated participants receiving benefits2021-01-011,955
Number of other retired or separated participants entitled to future benefits2021-01-012,409
Total of all active and inactive participants2021-01-018,571
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-01136
Total participants2021-01-018,707
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-01113
2020: ARCONIC CORP. PENSION PLAN B 2020 401k membership
Market value of plan assets2020-12-311,295,464,761
Acturial value of plan assets2020-12-311,295,464,761
Funding target for retired participants and beneficiaries receiving payment2020-12-311,203,451,093
Number of terminated vested participants2020-12-312,395
Fundng target for terminated vested participants2020-12-3176,725,253
Active participant vested funding target2020-12-31259,778,587
Number of active participants2020-12-315,156
Total funding liabilities for active participants2020-12-31278,546,214
Total participant count2020-12-3120,418
Total funding target for all participants2020-12-311,558,722,560
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
Balance of carryovers at beginning of current year2020-12-310
Balance of prefunding at beginning of current year2020-12-310
Total employer contributions2020-12-31103,556,000
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 date2020-12-3198,532,195
Liquidity shortfalls end of Q12020-12-310
Liquidity shortfalls end of Q22020-12-310
Liquidity shortfalls end of Q32020-12-310
Liquidity shortfalls end of Q42020-12-310
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 cost2020-12-3126,078,901
Net shortfall amortization installment of oustanding balance2020-12-31263,257,799
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-3198,531,519
Additional cash requirement2020-12-3198,531,519
Contributions allocatedtoward minimum required contributions for current year2020-12-3198,532,195
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
Total participants, beginning-of-year2020-01-0120,418
Total number of active participants reported on line 7a of the Form 55002020-01-014,646
Number of retired or separated participants receiving benefits2020-01-016,385
Number of other retired or separated participants entitled to future benefits2020-01-012,425
Total of all active and inactive participants2020-01-0113,456
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-011,194
Total participants2020-01-0114,650
Number of participants with account balances2020-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-01226

Financial Data on ARCONIC CORP. PENSION PLAN B

Measure Date Value
2022 : ARCONIC CORP. PENSION PLAN B 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
Total transfer of assets to this plan2022-12-31$9,407,021
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$433,234
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$1,297,751
Total income from all sources (including contributions)2022-12-31$-186,118,413
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$57,879,235
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$49,535,037
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$20,300,000
Value of total assets at end of year2022-12-31$557,442,985
Value of total assets at beginning of year2022-12-31$792,898,129
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$8,344,198
Total interest from all sources2022-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Administrative expenses professional fees incurred2022-12-31$2,371,196
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$10,000,000
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Administrative expenses (other) incurred2022-12-31$5,973,002
Liabilities. Value of operating payables at end of year2022-12-31$433,234
Liabilities. Value of operating payables at beginning of year2022-12-31$1,297,751
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-243,997,648
Value of net assets at end of year (total assets less liabilities)2022-12-31$557,009,751
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$791,600,378
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Value of interest in master investment trust accounts at end of year2022-12-31$552,142,985
Value of interest in master investment trust accounts at beginning of year2022-12-31$792,898,129
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$20,300,000
Employer contributions (assets) at end of year2022-12-31$5,300,000
Employer contributions (assets) at beginning of year2022-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$49,535,037
Did the plan have assets held for investment2022-12-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31PRICEWATERHOUSECOOPERS
Accountancy firm EIN2022-12-31134008324
2021 : ARCONIC CORP. PENSION PLAN B 2021 401k financial data
Total unrealized appreciation/depreciation of assets2021-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$1,297,751
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$1,195,250
Total income from all sources (including contributions)2021-12-31$269,569,573
Total loss/gain on sale of assets2021-12-31$0
Total of all expenses incurred2021-12-31$758,309,861
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$746,594,395
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$214,128,000
Value of total assets at end of year2021-12-31$792,898,129
Value of total assets at beginning of year2021-12-31$1,281,535,916
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$11,715,466
Total interest from all sources2021-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$0
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$1,940,622
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$10,000,000
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
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2021-12-31$658,908,850
Administrative expenses (other) incurred2021-12-31$9,774,844
Liabilities. Value of operating payables at end of year2021-12-31$1,297,751
Liabilities. Value of operating payables at beginning of year2021-12-31$1,195,250
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$-488,740,288
Value of net assets at end of year (total assets less liabilities)2021-12-31$791,600,378
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$1,280,340,666
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 master investment trust accounts at end of year2021-12-31$792,898,129
Value of interest in master investment trust accounts at beginning of year2021-12-31$1,245,821,916
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$214,128,000
Employer contributions (assets) at end of year2021-12-31$0
Employer contributions (assets) at beginning of year2021-12-31$35,714,000
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$87,685,545
Did the plan have assets held for investment2021-12-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party 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 name2021-12-31PRICEWATERHOUSECOOPERS
Accountancy firm EIN2021-12-31134008324
2020 : ARCONIC CORP. PENSION PLAN B 2020 401k financial data
Total unrealized appreciation/depreciation of assets2020-12-31$0
Total transfer of assets to this plan2020-12-31$1,294,418,788
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$1,195,250
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$0
Total income from all sources (including contributions)2020-12-31$291,844,069
Total loss/gain on sale of assets2020-12-31$0
Total of all expenses incurred2020-12-31$305,922,191
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-12-31$290,727,811
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-12-31$103,556,000
Value of total assets at end of year2020-12-31$1,281,535,916
Value of total assets at beginning of year2020-12-31$0
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-12-31$15,194,380
Total interest from all sources2020-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2020-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-12-31No
Administrative expenses professional fees incurred2020-12-31$2,288,620
Was this plan covered by a fidelity bond2020-12-31Yes
Value of fidelity bond cover2020-12-31$10,000,000
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
Administrative expenses (other) incurred2020-12-31$12,905,760
Liabilities. Value of operating payables at end of year2020-12-31$1,195,250
Liabilities. Value of operating payables at beginning of year2020-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Value of net income/loss2020-12-31$-14,078,122
Value of net assets at end of year (total assets less liabilities)2020-12-31$1,280,340,666
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$0
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 master investment trust accounts at end of year2020-12-31$1,245,821,916
Value of interest in master investment trust accounts at beginning of year2020-12-31$0
Expenses. Payments to insurance carriers foe the provision of benefits2020-12-31$168,626,287
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$103,556,000
Employer contributions (assets) at end of year2020-12-31$35,714,000
Employer contributions (assets) at beginning of year2020-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-12-31$122,101,524
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 name2020-12-31PRICEWATERHOUSECOOPERS
Accountancy firm EIN2020-12-31134008324

Form 5500 Responses for ARCONIC CORP. PENSION PLAN B

2022: ARCONIC CORP. PENSION PLAN B 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement - TrustYes
2021: ARCONIC CORP. PENSION PLAN B 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedNo
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement – InsuranceYes
2021-01-01Plan benefit arrangement - TrustYes
2020: ARCONIC CORP. PENSION PLAN B 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01First time form 5500 has been submittedYes
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingNo
2020-01-01This return/report is a short plan year return/report (less than 12 months)No
2020-01-01Plan is a collectively bargained planYes
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement – InsuranceYes
2020-01-01Plan benefit arrangement - TrustYes

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