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THE PLATINUM GROUP 401 (K) 401k Plan overview

Plan NameTHE PLATINUM GROUP 401 (K)
Plan identification number 001

THE PLATINUM GROUP 401 (K) Benefits

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

PLATINUM GROUP OF COMPANIES, INC. has sponsored the creation of one or more 401k plans.

Company Name:PLATINUM GROUP OF COMPANIES, INC.
Employer identification number (EIN):203601820
NAIC Classification:541600

Additional information about PLATINUM GROUP OF COMPANIES, INC.

Jurisdiction of Incorporation: California Department of State
Incorporation Date: 2005-09-19
Company Identification Number: C2805029
Legal Registered Office Address: 9121 Oakdale Ave, 201

Chatsworth
United States of America (USA)
91311

More information about PLATINUM GROUP OF COMPANIES, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE PLATINUM GROUP 401 (K)

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012021-01-01
0012020-01-01
0012019-01-01
0012010-01-01MARTY CAWLEY2011-07-28
0012009-01-01SANDY TO
0012009-01-01SANDY TO
0012009-01-01SANDY TO

Plan Statistics for THE PLATINUM GROUP 401 (K)

401k plan membership statisitcs for THE PLATINUM GROUP 401 (K)

Measure Date Value
2022: THE PLATINUM GROUP 401 (K) 2022 401k membership
Market value of plan assets2022-12-311,095,529
Acturial value of plan assets2022-12-311,095,529
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-310
Fundng target for terminated vested participants2022-12-310
Active participant vested funding target2022-12-31559,295
Number of active participants2022-12-313
Total funding liabilities for active participants2022-12-31971,069
Total participant count2022-12-313
Total funding target for all participants2022-12-31971,069
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 contributions2022-12-31158,547
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31158,547
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 contributions2022-12-31250,000
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 date2022-12-31247,535
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 cost2022-12-31361,758
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-31237,298
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-31237,298
Contributions allocatedtoward minimum required contributions for current year2022-12-31247,535
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: THE PLATINUM GROUP 401 (K) 2021 401k membership
Market value of plan assets2021-12-31626,139
Acturial value of plan assets2021-12-31626,139
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 target2021-12-31220,472
Number of active participants2021-12-313
Total funding liabilities for active participants2021-12-31599,589
Total participant count2021-12-313
Total funding target for all participants2021-12-31599,589
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 contributions2021-12-3143,897
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-3143,897
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 contributions2021-12-31400,000
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 date2021-12-31398,003
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 cost2021-12-31266,006
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Waived amount of outstanding balance2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-31239,456
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-31239,456
Contributions allocatedtoward minimum required contributions for current year2021-12-31398,003
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: THE PLATINUM GROUP 401 (K) 2020 401k membership
Market value of plan assets2020-12-31375,411
Acturial value of plan assets2020-12-31375,411
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 target2020-12-3159,128
Number of active participants2020-12-313
Total funding liabilities for active participants2020-12-31295,639
Total participant count2020-12-313
Total funding target for all participants2020-12-31295,639
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 contributions2020-12-31291,686
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-31291,686
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 contributions2020-12-31225,000
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 date2020-12-31227,188
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 cost2020-12-31263,063
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Waived amount of outstanding balance2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-31183,291
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-31183,291
Contributions allocatedtoward minimum required contributions for current year2020-12-31227,188
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: THE PLATINUM GROUP 401 (K) 2019 401k membership
Market value of plan assets2019-12-310
Acturial value of plan assets2019-12-310
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-310
Fundng target for terminated vested participants2019-12-310
Active participant vested funding target2019-12-310
Number of active participants2019-12-313
Total funding liabilities for active participants2019-12-31262,123
Total participant count2019-12-313
Total funding target for all participants2019-12-31262,123
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2019-12-310
Prefunding balanced used to offset prior years funding requirement2019-12-310
Amount remaining of carryover balance2019-12-310
Amount remaining of prefunding balance2019-12-310
Present value of excess contributions2019-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-310
Reductions in caryover balances due to elections or deemed elections2019-12-310
Reductions in prefunding balances due to elections or deemed elections2019-12-310
Balance of carryovers at beginning of current year2019-12-310
Balance of prefunding at beginning of current year2019-12-310
Total employer contributions2019-12-31360,000
Total employee contributions2019-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2019-12-310
Contributions made to avoid restrictions adjusted to valuation date2019-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-12-31354,954
Unpaid minimum required contributions for all prior years2019-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-12-310
Remaining amount of unpaid minimum required contributions2019-12-310
Minimum required contributions for current year target normal cost2019-12-3120,676
Net shortfall amortization installment of oustanding balance2019-12-31262,123
Waiver amortization installment2019-12-310
Waived amount of outstanding balance2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-3163,268
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-3163,268
Contributions allocatedtoward minimum required contributions for current year2019-12-31354,954
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2009: THE PLATINUM GROUP 401 (K) 2009 401k membership
Total participants, beginning-of-year2009-01-01104
Total number of active participants reported on line 7a of the Form 55002009-01-0187
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-0112
Total of all active and inactive participants2009-01-0199
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-0199
Number of participants with account balances2009-01-0191
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-017

Financial Data on THE PLATINUM GROUP 401 (K)

Measure Date Value
2009 : THE PLATINUM GROUP 401 (K) 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 THE PLATINUM GROUP 401 (K)

2009: THE PLATINUM GROUP 401 (K) 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 – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

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