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B & H INDUSTRIES, INC. RETIREMENT PLAN 401k Plan overview

Plan NameB & H INDUSTRIES, INC. RETIREMENT PLAN
Plan identification number 003

B & H INDUSTRIES, INC. RETIREMENT 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).
  • Floor-offset plan - Plan benefits are subject to offset for retirement benefits provided by an employer-sponsored defined contribution plan.
  • Code section 401(h) arrangement - Plan contains separate accounts under Code section 401(h) to provide employee health benefits.

401k Sponsoring company profile

B & H INDUSTRIES, INC. has sponsored the creation of one or more 401k plans.

Company Name:B & H INDUSTRIES, INC.
Employer identification number (EIN):233064577
NAIC Classification:811310
NAIC Description:Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance

Form 5500 Filing Information

Submission information for form 5500 for 401k plan B & H INDUSTRIES, INC. RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032021-12-16
0032020-12-16
0032019-12-16
0032018-12-16BRIAN HOOVER2020-10-13
0032017-12-16
0032016-12-16
0032015-12-16
0032015-01-01

Plan Statistics for B & H INDUSTRIES, INC. RETIREMENT PLAN

401k plan membership statisitcs for B & H INDUSTRIES, INC. RETIREMENT PLAN

Measure Date Value
2022: B & H INDUSTRIES, INC. RETIREMENT PLAN 2022 401k membership
Market value of plan assets2022-12-152,095,159
Acturial value of plan assets2022-12-152,095,159
Funding target for retired participants and beneficiaries receiving payment2022-12-150
Number of terminated vested participants2022-12-150
Fundng target for terminated vested participants2022-12-150
Active participant vested funding target2022-12-151,441,707
Number of active participants2022-12-1514
Total funding liabilities for active participants2022-12-151,441,707
Total participant count2022-12-1514
Total funding target for all participants2022-12-151,441,707
Balance at beginning of prior year after applicable adjustments2022-12-150
Prefunding balance at beginning of prior year after applicable adjustments2022-12-150
Carryover balanced portion elected for use to offset prior years funding requirement2022-12-150
Prefunding balanced used to offset prior years funding requirement2022-12-150
Amount remaining of carryover balance2022-12-150
Amount remaining of prefunding balance2022-12-150
Present value of excess contributions2022-12-15263,958
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-15263,958
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-150
Reductions in caryover balances due to elections or deemed elections2022-12-150
Reductions in prefunding balances due to elections or deemed elections2022-12-150
Balance of carryovers at beginning of current year2022-12-150
Balance of prefunding at beginning of current year2022-12-150
Total employer contributions2022-12-15100,000
Total employee contributions2022-12-150
Contributions allocated toward unpaid minimum require contributions from prior years2022-12-150
Contributions made to avoid restrictions adjusted to valuation date2022-12-150
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-12-15101,093
Unpaid minimum required contributions for all prior years2022-12-150
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-12-150
Remaining amount of unpaid minimum required contributions2022-12-150
Minimum required contributions for current year target normal cost2022-12-15398,644
Net shortfall amortization installment of oustanding balance2022-12-150
Waiver amortization installment2022-12-150
Total funding amount beforereflecting carryover/prefunding balances2022-12-150
Carryover balance elected to use to offset funding requirement2022-12-150
Prefunding balance elected to use to offset funding requirement2022-12-150
Additional cash requirement2022-12-150
Contributions allocatedtoward minimum required contributions for current year2022-12-15101,093
Unpaid minimum required contributions for current year2022-12-150
Unpaid minimum required contributions for all years2022-12-150
2021: B & H INDUSTRIES, INC. RETIREMENT PLAN 2021 401k membership
Market value of plan assets2021-12-152,312,550
Acturial value of plan assets2021-12-152,312,550
Funding target for retired participants and beneficiaries receiving payment2021-12-150
Number of terminated vested participants2021-12-150
Fundng target for terminated vested participants2021-12-150
Active participant vested funding target2021-12-151,255,716
Number of active participants2021-12-1513
Total funding liabilities for active participants2021-12-151,255,716
Total participant count2021-12-1513
Total funding target for all participants2021-12-151,255,716
Balance at beginning of prior year after applicable adjustments2021-12-150
Prefunding balance at beginning of prior year after applicable adjustments2021-12-150
Carryover balanced portion elected for use to offset prior years funding requirement2021-12-150
Prefunding balanced used to offset prior years funding requirement2021-12-150
Amount remaining of carryover balance2021-12-150
Amount remaining of prefunding balance2021-12-150
Present value of excess contributions2021-12-15292,194
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-15292,194
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-150
Reductions in caryover balances due to elections or deemed elections2021-12-150
Reductions in prefunding balances due to elections or deemed elections2021-12-150
Balance of carryovers at beginning of current year2021-12-150
Balance of prefunding at beginning of current year2021-12-150
Total employer contributions2021-12-15260,000
Total employee contributions2021-12-150
Contributions allocated toward unpaid minimum require contributions from prior years2021-12-150
Contributions made to avoid restrictions adjusted to valuation date2021-12-150
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-12-15263,958
Unpaid minimum required contributions for all prior years2021-12-150
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-12-150
Remaining amount of unpaid minimum required contributions2021-12-150
Minimum required contributions for current year target normal cost2021-12-1593,538
Net shortfall amortization installment of oustanding balance2021-12-150
Waiver amortization installment2021-12-150
Total funding amount beforereflecting carryover/prefunding balances2021-12-150
Carryover balance elected to use to offset funding requirement2021-12-150
Prefunding balance elected to use to offset funding requirement2021-12-150
Additional cash requirement2021-12-150
Contributions allocatedtoward minimum required contributions for current year2021-12-15263,958
Unpaid minimum required contributions for current year2021-12-150
Unpaid minimum required contributions for all years2021-12-150
2020: B & H INDUSTRIES, INC. RETIREMENT PLAN 2020 401k membership
Market value of plan assets2020-12-151,810,699
Acturial value of plan assets2020-12-151,810,699
Funding target for retired participants and beneficiaries receiving payment2020-12-150
Number of terminated vested participants2020-12-150
Fundng target for terminated vested participants2020-12-150
Active participant vested funding target2020-12-151,024,652
Number of active participants2020-12-159
Total funding liabilities for active participants2020-12-151,024,652
Total participant count2020-12-159
Total funding target for all participants2020-12-151,024,652
Balance at beginning of prior year after applicable adjustments2020-12-150
Prefunding balance at beginning of prior year after applicable adjustments2020-12-150
Carryover balanced portion elected for use to offset prior years funding requirement2020-12-150
Prefunding balanced used to offset prior years funding requirement2020-12-150
Amount remaining of carryover balance2020-12-150
Amount remaining of prefunding balance2020-12-150
Present value of excess contributions2020-12-15494,374
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-15494,374
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-150
Reductions in caryover balances due to elections or deemed elections2020-12-150
Reductions in prefunding balances due to elections or deemed elections2020-12-150
Balance of carryovers at beginning of current year2020-12-150
Balance of prefunding at beginning of current year2020-12-150
Total employer contributions2020-12-15288,432
Total employee contributions2020-12-150
Contributions allocated toward unpaid minimum require contributions from prior years2020-12-150
Contributions made to avoid restrictions adjusted to valuation date2020-12-150
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-12-15292,194
Unpaid minimum required contributions for all prior years2020-12-150
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-12-150
Remaining amount of unpaid minimum required contributions2020-12-150
Minimum required contributions for current year target normal cost2020-12-15187,770
Net shortfall amortization installment of oustanding balance2020-12-150
Waiver amortization installment2020-12-150
Total funding amount beforereflecting carryover/prefunding balances2020-12-150
Carryover balance elected to use to offset funding requirement2020-12-150
Prefunding balance elected to use to offset funding requirement2020-12-150
Additional cash requirement2020-12-150
Contributions allocatedtoward minimum required contributions for current year2020-12-15292,194
Unpaid minimum required contributions for current year2020-12-150
Unpaid minimum required contributions for all years2020-12-150
2019: B & H INDUSTRIES, INC. RETIREMENT PLAN 2019 401k membership
Market value of plan assets2019-12-151,156,647
Acturial value of plan assets2019-12-151,156,647
Funding target for retired participants and beneficiaries receiving payment2019-12-150
Number of terminated vested participants2019-12-150
Fundng target for terminated vested participants2019-12-150
Active participant vested funding target2019-12-15805,588
Number of active participants2019-12-159
Total funding liabilities for active participants2019-12-15805,588
Total participant count2019-12-159
Total funding target for all participants2019-12-15805,588
Balance at beginning of prior year after applicable adjustments2019-12-150
Prefunding balance at beginning of prior year after applicable adjustments2019-12-150
Carryover balanced portion elected for use to offset prior years funding requirement2019-12-150
Prefunding balanced used to offset prior years funding requirement2019-12-150
Amount remaining of carryover balance2019-12-150
Amount remaining of prefunding balance2019-12-150
Present value of excess contributions2019-12-15411,058
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-15411,058
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-150
Reductions in prefunding balances due to elections or deemed elections2019-12-150
Balance of carryovers at beginning of current year2019-12-150
Balance of prefunding at beginning of current year2019-12-150
Total employer contributions2019-12-15456,317
Total employee contributions2019-12-150
Contributions allocated toward unpaid minimum require contributions from prior years2019-12-150
Contributions made to avoid restrictions adjusted to valuation date2019-12-150
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-12-15462,674
Unpaid minimum required contributions for all prior years2019-12-150
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-12-150
Remaining amount of unpaid minimum required contributions2019-12-150
Minimum required contributions for current year target normal cost2019-12-15160,657
Net shortfall amortization installment of oustanding balance2019-12-150
Waiver amortization installment2019-12-150
Total funding amount beforereflecting carryover/prefunding balances2019-12-150
Additional cash requirement2019-12-150
Contributions allocatedtoward minimum required contributions for current year2019-12-15462,674
Unpaid minimum required contributions for current year2019-12-150
Unpaid minimum required contributions for all years2019-12-150
2018: B & H INDUSTRIES, INC. RETIREMENT PLAN 2018 401k membership
Market value of plan assets2018-12-15724,131
Acturial value of plan assets2018-12-15724,131
Funding target for retired participants and beneficiaries receiving payment2018-12-150
Number of terminated vested participants2018-12-150
Fundng target for terminated vested participants2018-12-150
Active participant vested funding target2018-12-15531,740
Number of active participants2018-12-157
Total funding liabilities for active participants2018-12-15531,470
Total participant count2018-12-157
Total funding target for all participants2018-12-15531,470
Balance at beginning of prior year after applicable adjustments2018-12-150
Prefunding balance at beginning of prior year after applicable adjustments2018-12-150
Carryover balanced portion elected for use to offset prior years funding requirement2018-12-150
Prefunding balanced used to offset prior years funding requirement2018-12-150
Amount remaining of carryover balance2018-12-150
Amount remaining of prefunding balance2018-12-150
Present value of excess contributions2018-12-15331,912
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-15331,912
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-150
Reductions in caryover balances due to elections or deemed elections2018-12-150
Reductions in prefunding balances due to elections or deemed elections2018-12-150
Balance of carryovers at beginning of current year2018-12-150
Balance of prefunding at beginning of current year2018-12-150
Total employer contributions2018-12-15405,212
Total employee contributions2018-12-150
Contributions allocated toward unpaid minimum require contributions from prior years2018-12-150
Contributions made to avoid restrictions adjusted to valuation date2018-12-150
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-12-15411,058
Unpaid minimum required contributions for all prior years2018-12-150
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-12-150
Remaining amount of unpaid minimum required contributions2018-12-150
Minimum required contributions for current year target normal cost2018-12-15149,284
Net shortfall amortization installment of oustanding balance2018-12-150
Waiver amortization installment2018-12-150
Total funding amount beforereflecting carryover/prefunding balances2018-12-150
Carryover balance elected to use to offset funding requirement2018-12-150
Prefunding balance elected to use to offset funding requirement2018-12-150
Additional cash requirement2018-12-150
Contributions allocatedtoward minimum required contributions for current year2018-12-15411,058
Unpaid minimum required contributions for current year2018-12-150
Unpaid minimum required contributions for all years2018-12-150
2017: B & H INDUSTRIES, INC. RETIREMENT PLAN 2017 401k membership
Market value of plan assets2017-12-15390,552
Acturial value of plan assets2017-12-15390,552
Funding target for retired participants and beneficiaries receiving payment2017-12-150
Number of terminated vested participants2017-12-150
Fundng target for terminated vested participants2017-12-150
Active participant vested funding target2017-12-150
Number of active participants2017-12-156
Total funding liabilities for active participants2017-12-15345,990
Total participant count2017-12-156
Total funding target for all participants2017-12-15345,990
Balance at beginning of prior year after applicable adjustments2017-12-150
Prefunding balance at beginning of prior year after applicable adjustments2017-12-150
Carryover balanced portion elected for use to offset prior years funding requirement2017-12-150
Prefunding balanced used to offset prior years funding requirement2017-12-150
Amount remaining of carryover balance2017-12-150
Amount remaining of prefunding balance2017-12-150
Present value of excess contributions2017-12-1547,928
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-1547,928
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-12-150
Reductions in caryover balances due to elections or deemed elections2017-12-150
Reductions in prefunding balances due to elections or deemed elections2017-12-150
Balance of carryovers at beginning of current year2017-12-150
Balance of prefunding at beginning of current year2017-12-150
Total employer contributions2017-12-15416,283
Total employee contributions2017-12-150
Contributions allocated toward unpaid minimum require contributions from prior years2017-12-150
Contributions made to avoid restrictions adjusted to valuation date2017-12-150
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-12-15421,901
Unpaid minimum required contributions for all prior years2017-12-150
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-12-150
Remaining amount of unpaid minimum required contributions2017-12-150
Minimum required contributions for current year target normal cost2017-12-15134,551
Net shortfall amortization installment of oustanding balance2017-12-150
Waiver amortization installment2017-12-150
Total funding amount beforereflecting carryover/prefunding balances2017-12-1589,989
Carryover balance elected to use to offset funding requirement2017-12-150
Prefunding balance elected to use to offset funding requirement2017-12-150
Additional cash requirement2017-12-1589,989
Contributions allocatedtoward minimum required contributions for current year2017-12-15421,901
Unpaid minimum required contributions for current year2017-12-150
Unpaid minimum required contributions for all years2017-12-150

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