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B & E IRON WORKS, LLC CASH BALANCE PLAN 401k Plan overview

Plan NameB & E IRON WORKS, LLC CASH BALANCE PLAN
Plan identification number 002

B & E IRON WORKS, LLC CASH BALANCE PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Cash balance or similar plan - Plan has a "cash balance" formula. For this purpose, a "cash balance" formula is a benefit formula in a defined benefit plan by whatever name (for example, personal account plan, pension equity plan, life cycle plan, cash account plan, etc.) that rather than, or in addition to, expressing the accrued benefit as a life annuity commencing at normal retirement age, defines benefits for each employee in terms more common to a defined contribution plan such as a single sum distribution amount (for example, 10 percent of final average pay times years of service, or the amount of the employee's hypothetical account balance).
  • Plan covering Self-Employed individuals.
  • 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

B & E IRON WORKS LLC has sponsored the creation of one or more 401k plans.

Company Name:B & E IRON WORKS LLC
Employer identification number (EIN):223927660
NAIC Classification:238900

Form 5500 Filing Information

Submission information for form 5500 for 401k plan B & E IRON WORKS, LLC CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01LINDA MCQUAY2023-09-12
0022021-01-01LINDA MCQUAY2022-10-05
0022020-01-01LINDA MCQUAY2021-09-22
0022019-01-01LINDA MCQUAY2020-10-13
0022018-01-01LINDA MCQUAY2019-10-02
0022017-01-01LINDA MCQUAY2018-08-01
0022016-01-01

Plan Statistics for B & E IRON WORKS, LLC CASH BALANCE PLAN

401k plan membership statisitcs for B & E IRON WORKS, LLC CASH BALANCE PLAN

Measure Date Value
2022: B & E IRON WORKS, LLC CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-31740,977
Acturial value of plan assets2022-12-31740,977
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-311
Fundng target for terminated vested participants2022-12-313,619
Active participant vested funding target2022-12-31655,032
Number of active participants2022-12-3111
Total funding liabilities for active participants2022-12-31655,781
Total participant count2022-12-3112
Total funding target for all participants2022-12-31659,400
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-3130,100
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 balance2022-12-3130,100
Present value of excess contributions2022-12-3129,225
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-3130,905
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-3130,905
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 year2022-12-3164,575
Total employer contributions2022-12-3150,000
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 date2022-12-3145,911
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 cost2022-12-3192,167
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-3175,165
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-3129,254
Additional cash requirement2022-12-3145,911
Contributions allocatedtoward minimum required contributions for current year2022-12-3145,911
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: B & E IRON WORKS, LLC CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-31602,865
Acturial value of plan assets2021-12-31602,865
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-311
Fundng target for terminated vested participants2021-12-313,267
Active participant vested funding target2021-12-31515,172
Number of active participants2021-12-3112
Total funding liabilities for active participants2021-12-31516,183
Total participant count2021-12-3113
Total funding target for all participants2021-12-31519,450
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-3153,000
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 balance2021-12-3153,000
Present value of excess contributions2021-12-314,967
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-315,245
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-315,245
Reductions in caryover balances due to elections or deemed elections2021-12-310
Reductions in prefunding balances due to elections or deemed elections2021-12-3135,459
Balance of carryovers at beginning of current year2021-12-310
Balance of prefunding at beginning of current year2021-12-3130,100
Total employer contributions2021-12-3163,000
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 date2021-12-3157,348
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 cost2021-12-3181,438
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-3128,123
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-3128,123
Contributions allocatedtoward minimum required contributions for current year2021-12-3157,348
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: B & E IRON WORKS, LLC CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-31475,458
Acturial value of plan assets2020-12-31475,458
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 target2020-12-31421,744
Number of active participants2020-12-3111
Total funding liabilities for active participants2020-12-31422,380
Total participant count2020-12-3111
Total funding target for all participants2020-12-31422,380
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-318,926
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 balance2020-12-318,926
Present value of excess contributions2020-12-3145,840
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-3148,476
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-3148,476
Reductions in caryover balances due to elections or deemed elections2020-12-310
Reductions in prefunding balances due to elections or deemed elections2020-12-315,436
Balance of carryovers at beginning of current year2020-12-310
Balance of prefunding at beginning of current year2020-12-3153,000
Total employer contributions2020-12-3158,049
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 date2020-12-3153,060
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 cost2020-12-3148,171
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-3148,093
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-3148,093
Contributions allocatedtoward minimum required contributions for current year2020-12-3153,060
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: B & E IRON WORKS, LLC CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-31374,113
Acturial value of plan assets2019-12-31374,113
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 target2019-12-31319,941
Number of active participants2019-12-3111
Total funding liabilities for active participants2019-12-31322,261
Total participant count2019-12-3111
Total funding target for all participants2019-12-31322,261
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-3117,700
Carryover balanced portion elected for use to offset prior years funding requirement2019-12-310
Prefunding balanced used to offset prior years funding requirement2019-12-318,382
Amount remaining of carryover balance2019-12-310
Amount remaining of prefunding balance2019-12-319,318
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 year2019-12-318,926
Total employer contributions2019-12-3150,000
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 date2019-12-3145,840
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 cost2019-12-3131,200
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-310
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-310
Contributions allocatedtoward minimum required contributions for current year2019-12-3145,840
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: B & E IRON WORKS, LLC CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-31230,430
Acturial value of plan assets2018-12-31230,430
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-310
Fundng target for terminated vested participants2018-12-310
Active participant vested funding target2018-12-310
Number of active participants2018-12-3111
Total funding liabilities for active participants2018-12-31265,842
Total participant count2018-12-3111
Total funding target for all participants2018-12-31265,842
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-310
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 balance2018-12-310
Present value of excess contributions2018-12-3117,743
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-3118,824
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-3118,824
Reductions in caryover balances due to elections or deemed elections2018-12-310
Reductions in prefunding balances due to elections or deemed elections2018-12-311,124
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-3117,700
Total employer contributions2018-12-31161,250
Total employee contributions2018-12-310
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 date2018-12-31146,625
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 cost2018-12-31146,336
Net shortfall amortization installment of oustanding balance2018-12-3153,112
Total funding amount beforereflecting carryover/prefunding balances2018-12-31155,007
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-318,382
Additional cash requirement2018-12-31146,625
Contributions allocatedtoward minimum required contributions for current year2018-12-31146,625
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: B & E IRON WORKS, LLC CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-12-31123,561
Acturial value of plan assets2017-12-31123,561
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-310
Fundng target for terminated vested participants2017-12-310
Active participant vested funding target2017-12-310
Number of active participants2017-12-3110
Total funding liabilities for active participants2017-12-31102,723
Total participant count2017-12-3110
Total funding target for all participants2017-12-31102,723
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-310
Amount remaining of carryover balance2017-12-310
Amount remaining of prefunding balance2017-12-310
Present value of excess contributions2017-12-3122,240
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3123,632
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-12-3123,632
Reductions in prefunding balances due to elections or deemed elections2017-12-3123,632
Balance of carryovers at beginning of current year2017-12-310
Balance of prefunding at beginning of current year2017-12-310
Total employer contributions2017-12-31102,478
Total employee contributions2017-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2017-12-310
Contributions made to avoid restrictions adjusted to valuation date2017-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-12-3195,118
Unpaid minimum required contributions for all prior years2017-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-12-310
Remaining amount of unpaid minimum required contributions2017-12-310
Minimum required contributions for current year target normal cost2017-12-3198,213
Net shortfall amortization installment of oustanding balance2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-3177,375
Additional cash requirement2017-12-3177,375
Contributions allocatedtoward minimum required contributions for current year2017-12-3195,118
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: B & E IRON WORKS, LLC CASH BALANCE PLAN 2016 401k membership
Market value of plan assets2016-12-310
Acturial value of plan assets2016-12-310
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-310
Fundng target for terminated vested participants2016-12-310
Active participant vested funding target2016-12-310
Number of active participants2016-12-318
Total funding liabilities for active participants2016-12-310
Total participant count2016-12-318
Total funding target for all participants2016-12-310
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2016-12-310
Prefunding balanced used to offset prior years funding requirement2016-12-310
Amount remaining of carryover balance2016-12-310
Amount remaining of prefunding balance2016-12-310
Present value of excess contributions2016-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2016-12-310
Reductions in caryover balances due to elections or deemed elections2016-12-310
Reductions in prefunding balances due to elections or deemed elections2016-12-310
Balance of carryovers at beginning of current year2016-12-310
Balance of prefunding at beginning of current year2016-12-310
Total employer contributions2016-12-31128,918
Total employee contributions2016-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2016-12-310
Contributions made to avoid restrictions adjusted to valuation date2016-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2016-12-31116,282
Unpaid minimum required contributions for all prior years2016-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2016-12-310
Remaining amount of unpaid minimum required contributions2016-12-310
Minimum required contributions for current year target normal cost2016-12-3194,042
Net shortfall amortization installment of oustanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-3194,042
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-3194,042
Contributions allocatedtoward minimum required contributions for current year2016-12-31116,282
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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