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SEALED AIR CORP. PENSION PLAN FOR ELIGIBLE PRODUCTION EMPLOYEES IN HIGH POINT, NC 401k Plan overview

Plan NameSEALED AIR CORP. PENSION PLAN FOR ELIGIBLE PRODUCTION EMPLOYEES IN HIGH POINT, NC
Plan identification number 003

SEALED AIR CORP. PENSION PLAN FOR ELIGIBLE PRODUCTION EMPLOYEES IN HIGH POINT, NC Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily flat dollar (includes dollars per year of service)
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
  • Plan covered by PBGC that was terminated and closed out for PBGC purposes - Before the end of the plan year (or a prior plan year), (1) the plan terminated in a standard (or distress) termination and completed the distribution of plan assets in satisfaction of all benefit liabilities (or all ERISA Title IV benefits for distress termination); or (2) a trustee was appointed for a terminated plan pursuant to ERISA section 4042.
  • Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).
  • 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.
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

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

Company Name:SEALED AIR CORPORATION
Employer identification number (EIN):221682767
NAIC Classification:325900
NAIC Description:Other Chemical Product and Preparation Manufacturing

Additional information about SEALED AIR CORPORATION

Jurisdiction of Incorporation: State of Delaware Division of Corporations
Incorporation Date:
Company Identification Number: 2586601

More information about SEALED AIR CORPORATION

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SEALED AIR CORP. PENSION PLAN FOR ELIGIBLE PRODUCTION EMPLOYEES IN HIGH POINT, NC

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032018-05-01MICHAEL KONCHAN2019-03-08 MICHAEL KONCHAN2019-03-08
0032017-05-01MICHAEL KONCHAN2019-02-12 MICHAEL KONCHAN2019-02-12
0032016-05-01MICHAEL KONCHAN2018-02-13 MICHAEL KONCHAN2018-02-13
0032015-05-01MICHAEL KONCHAN2017-02-15 MICHAEL KONCHAN2017-02-14
0032014-05-01MICHAEL KONCHAN2016-02-08 MICHAEL KONCHAN2016-02-07
0032013-05-01MICHAEL KONCHAN2015-02-13 MICHAEL KONCHAN2015-02-13
0032012-05-01ANTHONY MEOLA2014-02-13 ANTHONY MEOLA2014-02-13
0032011-05-01ANTHONY MEOLA2013-02-15 ANTHONY MEOLA2013-02-15
0032010-05-01SANJAY VARMA2012-02-15
0032009-07-01ROBERT J. RESENDES

Plan Statistics for SEALED AIR CORP. PENSION PLAN FOR ELIGIBLE PRODUCTION EMPLOYEES IN HIGH POINT, NC

401k plan membership statisitcs for SEALED AIR CORP. PENSION PLAN FOR ELIGIBLE PRODUCTION EMPLOYEES IN HIGH POINT, NC

Measure Date Value
2018: SEALED AIR CORP. PENSION PLAN FOR ELIGIBLE PRODUCTION EMPLOYEES IN HIGH POINT, NC 2018 401k membership
Market value of plan assets2018-12-31530,382
Acturial value of plan assets2018-12-31530,382
Funding target for retired participants and beneficiaries receiving payment2018-12-31349,909
Number of terminated vested participants2018-12-315
Fundng target for terminated vested participants2018-12-3168,427
Active participant vested funding target2018-12-310
Number of active participants2018-12-310
Total funding liabilities for active participants2018-12-310
Total participant count2018-12-3128
Total funding target for all participants2018-12-31418,336
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-3171,379
Carryover balanced portion elected for use to offset prior years funding requirement2018-12-310
Prefunding balanced used to offset prior years funding requirement2018-12-310
Amount remaining of carryover balance2018-12-310
Amount remaining of prefunding balance2018-12-3171,379
Present value of excess contributions2018-12-318,111
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-318,561
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-318,561
Reductions in caryover balances due to elections or deemed elections2018-12-310
Reductions in prefunding balances due to elections or deemed elections2018-12-310
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-3186,107
Contributions allocated toward unpaid minimum require contributions from prior years2018-12-310
Contributions made to avoid restrictions adjusted to valuation date2018-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-12-310
Liquidity shortfalls end of Q12018-12-310
Liquidity shortfalls end of Q22018-12-310
Liquidity shortfalls end of Q32018-12-310
Liquidity shortfalls end of Q42018-12-310
Unpaid minimum required contributions for all prior years2018-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-12-310
Remaining amount of unpaid minimum required contributions2018-12-310
Minimum required contributions for current year target normal cost2018-12-310
Net shortfall amortization installment of oustanding balance2018-12-310
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-310
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-310
Contributions allocatedtoward minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
Market value of plan assets2018-04-30533,158
Acturial value of plan assets2018-04-30533,158
Funding target for retired participants and beneficiaries receiving payment2018-04-30413,749
Number of terminated vested participants2018-04-305
Fundng target for terminated vested participants2018-04-3064,360
Active participant vested funding target2018-04-300
Number of active participants2018-04-300
Total funding liabilities for active participants2018-04-300
Total participant count2018-04-3030
Total funding target for all participants2018-04-30478,109
Balance at beginning of prior year after applicable adjustments2018-04-300
Prefunding balance at beginning of prior year after applicable adjustments2018-04-30598
Carryover balanced portion elected for use to offset prior years funding requirement2018-04-300
Prefunding balanced used to offset prior years funding requirement2018-04-300
Amount remaining of carryover balance2018-04-300
Amount remaining of prefunding balance2018-04-30598
Present value of excess contributions2018-04-3066,866
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-04-3070,724
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-04-3070,724
Reductions in caryover balances due to elections or deemed elections2018-04-300
Reductions in prefunding balances due to elections or deemed elections2018-04-300
Balance of carryovers at beginning of current year2018-04-300
Balance of prefunding at beginning of current year2018-04-3071,379
Total employer contributions2018-04-3036,632
Total employee contributions2018-04-300
Contributions allocated toward unpaid minimum require contributions from prior years2018-04-300
Contributions made to avoid restrictions adjusted to valuation date2018-04-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-04-3035,907
Unpaid minimum required contributions for all prior years2018-04-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-04-300
Remaining amount of unpaid minimum required contributions2018-04-300
Minimum required contributions for current year target normal cost2018-04-3027,796
Net shortfall amortization installment of oustanding balance2018-04-300
Waiver amortization installment2018-04-300
Total funding amount beforereflecting carryover/prefunding balances2018-04-3027,796
Carryover balance elected to use to offset funding requirement2018-04-300
Prefunding balance elected to use to offset funding requirement2018-04-300
Additional cash requirement2018-04-3027,796
Contributions allocatedtoward minimum required contributions for current year2018-04-3035,907
Unpaid minimum required contributions for current year2018-04-300
Unpaid minimum required contributions for all years2018-04-300
2017: SEALED AIR CORP. PENSION PLAN FOR ELIGIBLE PRODUCTION EMPLOYEES IN HIGH POINT, NC 2017 401k membership
Market value of plan assets2017-04-30490,261
Acturial value of plan assets2017-04-30490,261
Funding target for retired participants and beneficiaries receiving payment2017-04-30424,375
Number of terminated vested participants2017-04-305
Fundng target for terminated vested participants2017-04-3060,452
Active participant vested funding target2017-04-300
Number of active participants2017-04-300
Total funding liabilities for active participants2017-04-300
Total participant count2017-04-3030
Total funding target for all participants2017-04-30484,827
Balance at beginning of prior year after applicable adjustments2017-04-300
Prefunding balance at beginning of prior year after applicable adjustments2017-04-30609
Carryover balanced portion elected for use to offset prior years funding requirement2017-04-300
Prefunding balanced used to offset prior years funding requirement2017-04-300
Amount remaining of carryover balance2017-04-300
Amount remaining of prefunding balance2017-04-30609
Present value of excess contributions2017-04-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-04-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-04-300
Reductions in caryover balances due to elections or deemed elections2017-04-300
Reductions in prefunding balances due to elections or deemed elections2017-04-300
Balance of carryovers at beginning of current year2017-04-300
Balance of prefunding at beginning of current year2017-04-30598
Total employer contributions2017-04-3080,000
Total employee contributions2017-04-300
Contributions allocated toward unpaid minimum require contributions from prior years2017-04-300
Contributions made to avoid restrictions adjusted to valuation date2017-04-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-04-3075,869
Unpaid minimum required contributions for all prior years2017-04-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-04-300
Remaining amount of unpaid minimum required contributions2017-04-300
Minimum required contributions for current year target normal cost2017-04-3013,839
Net shortfall amortization installment of oustanding balance2017-04-300
Waiver amortization installment2017-04-300
Waived amount of outstanding balance2017-04-300
Total funding amount beforereflecting carryover/prefunding balances2017-04-309,003
Carryover balance elected to use to offset funding requirement2017-04-300
Prefunding balance elected to use to offset funding requirement2017-04-300
Additional cash requirement2017-04-309,003
Contributions allocatedtoward minimum required contributions for current year2017-04-3075,869
Unpaid minimum required contributions for current year2017-04-300
Unpaid minimum required contributions for all years2017-04-300
2009: SEALED AIR CORP. PENSION PLAN FOR ELIGIBLE PRODUCTION EMPLOYEES IN HIGH POINT, NC 2009 401k membership
Total participants, beginning-of-year2009-07-0181
Total number of active participants reported on line 7a of the Form 55002009-07-010
Number of retired or separated participants receiving benefits2009-07-010
Number of other retired or separated participants entitled to future benefits2009-07-010
Total of all active and inactive participants2009-07-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-07-010
Total participants2009-07-010
Number of participants with account balances2009-07-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-07-010

Financial Data on SEALED AIR CORP. PENSION PLAN FOR ELIGIBLE PRODUCTION EMPLOYEES IN HIGH POINT, NC

Measure Date Value
2010 : SEALED AIR CORP. PENSION PLAN FOR ELIGIBLE PRODUCTION EMPLOYEES IN HIGH POINT, NC 2010 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-06-30$0

Form 5500 Responses for SEALED AIR CORP. PENSION PLAN FOR ELIGIBLE PRODUCTION EMPLOYEES IN HIGH POINT, NC

2009: SEALED AIR CORP. PENSION PLAN FOR ELIGIBLE PRODUCTION EMPLOYEES IN HIGH POINT, NC 2009 form 5500 responses
2009-07-01Type of plan entitySingle employer plan
2009-07-01Submission has been amendedNo
2009-07-01This submission is the final filingYes
2009-07-01This return/report is a short plan year return/report (less than 12 months)No
2009-07-01Plan is a collectively bargained planNo
2009-07-01Plan funding arrangement – InsuranceYes
2009-07-01Plan funding arrangement – TrustYes
2009-07-01Plan benefit arrangement – InsuranceYes
2009-07-01Plan benefit arrangement - TrustYes

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