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GLOBAL WEALTH SOLUTIONS RETIREMENT PLAN 401k Plan overview

Plan NameGLOBAL WEALTH SOLUTIONS RETIREMENT PLAN
Plan identification number 002

GLOBAL WEALTH SOLUTIONS RETIREMENT PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily flat dollar (includes dollars per year of service)
  • 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.
  • Plan covering Self-Employed individuals.

401k Sponsoring company profile

GLOBAL WEALTH SOLUTIONS has sponsored the creation of one or more 401k plans.

Company Name:GLOBAL WEALTH SOLUTIONS
Employer identification number (EIN):320207130
NAIC Classification:523900

Form 5500 Filing Information

Submission information for form 5500 for 401k plan GLOBAL WEALTH SOLUTIONS RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022021-12-01
0022020-12-01
0022019-12-01
0022018-12-01

Plan Statistics for GLOBAL WEALTH SOLUTIONS RETIREMENT PLAN

401k plan membership statisitcs for GLOBAL WEALTH SOLUTIONS RETIREMENT PLAN

Measure Date Value
2022: GLOBAL WEALTH SOLUTIONS RETIREMENT PLAN 2022 401k membership
Market value of plan assets2022-11-30417,239
Acturial value of plan assets2022-11-30417,239
Funding target for retired participants and beneficiaries receiving payment2022-11-300
Number of terminated vested participants2022-11-300
Fundng target for terminated vested participants2022-11-300
Active participant vested funding target2022-11-300
Number of active participants2022-11-303
Total funding liabilities for active participants2022-11-30461,065
Total participant count2022-11-303
Total funding target for all participants2022-11-30461,065
Balance at beginning of prior year after applicable adjustments2022-11-300
Prefunding balance at beginning of prior year after applicable adjustments2022-11-300
Carryover balanced portion elected for use to offset prior years funding requirement2022-11-300
Prefunding balanced used to offset prior years funding requirement2022-11-300
Amount remaining of carryover balance2022-11-300
Amount remaining of prefunding balance2022-11-300
Present value of excess contributions2022-11-303,496
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-11-303,496
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-11-300
Reductions in caryover balances due to elections or deemed elections2022-11-300
Reductions in prefunding balances due to elections or deemed elections2022-11-300
Balance of carryovers at beginning of current year2022-11-300
Balance of prefunding at beginning of current year2022-11-300
Total employer contributions2022-11-301,137,000
Total employee contributions2022-11-300
Contributions allocated toward unpaid minimum require contributions from prior years2022-11-300
Contributions made to avoid restrictions adjusted to valuation date2022-11-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-11-301,146,961
Unpaid minimum required contributions for all prior years2022-11-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-11-300
Remaining amount of unpaid minimum required contributions2022-11-300
Minimum required contributions for current year target normal cost2022-11-30938,235
Net shortfall amortization installment of oustanding balance2022-11-3043,826
Waiver amortization installment2022-11-300
Total funding amount beforereflecting carryover/prefunding balances2022-11-30950,161
Carryover balance elected to use to offset funding requirement2022-11-300
Prefunding balance elected to use to offset funding requirement2022-11-300
Additional cash requirement2022-11-30950,161
Contributions allocatedtoward minimum required contributions for current year2022-11-301,146,961
Unpaid minimum required contributions for current year2022-11-300
Unpaid minimum required contributions for all years2022-11-300
2021: GLOBAL WEALTH SOLUTIONS RETIREMENT PLAN 2021 401k membership
Market value of plan assets2021-11-30290,446
Acturial value of plan assets2021-11-30290,446
Funding target for retired participants and beneficiaries receiving payment2021-11-300
Number of terminated vested participants2021-11-300
Fundng target for terminated vested participants2021-11-300
Active participant vested funding target2021-11-300
Number of active participants2021-11-302
Total funding liabilities for active participants2021-11-30291,245
Total participant count2021-11-302
Total funding target for all participants2021-11-30291,245
Balance at beginning of prior year after applicable adjustments2021-11-300
Prefunding balance at beginning of prior year after applicable adjustments2021-11-300
Carryover balanced portion elected for use to offset prior years funding requirement2021-11-300
Prefunding balanced used to offset prior years funding requirement2021-11-300
Amount remaining of carryover balance2021-11-300
Amount remaining of prefunding balance2021-11-300
Present value of excess contributions2021-11-304,684
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-11-304,684
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-11-300
Reductions in caryover balances due to elections or deemed elections2021-11-300
Reductions in prefunding balances due to elections or deemed elections2021-11-300
Balance of carryovers at beginning of current year2021-11-300
Balance of prefunding at beginning of current year2021-11-300
Total employer contributions2021-11-30146,037
Total employee contributions2021-11-300
Contributions allocated toward unpaid minimum require contributions from prior years2021-11-300
Contributions made to avoid restrictions adjusted to valuation date2021-11-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-11-30149,583
Unpaid minimum required contributions for all prior years2021-11-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-11-300
Remaining amount of unpaid minimum required contributions2021-11-300
Minimum required contributions for current year target normal cost2021-11-30142,050
Net shortfall amortization installment of oustanding balance2021-11-30799
Waiver amortization installment2021-11-300
Total funding amount beforereflecting carryover/prefunding balances2021-11-30146,087
Carryover balance elected to use to offset funding requirement2021-11-300
Prefunding balance elected to use to offset funding requirement2021-11-300
Additional cash requirement2021-11-30146,087
Contributions allocatedtoward minimum required contributions for current year2021-11-30149,583
Unpaid minimum required contributions for current year2021-11-300
Unpaid minimum required contributions for all years2021-11-300
2020: GLOBAL WEALTH SOLUTIONS RETIREMENT PLAN 2020 401k membership
Market value of plan assets2020-11-30130,397
Acturial value of plan assets2020-11-30130,397
Funding target for retired participants and beneficiaries receiving payment2020-11-300
Number of terminated vested participants2020-11-300
Fundng target for terminated vested participants2020-11-300
Active participant vested funding target2020-11-300
Number of active participants2020-11-302
Total funding liabilities for active participants2020-11-30143,185
Total participant count2020-11-302
Total funding target for all participants2020-11-30143,185
Balance at beginning of prior year after applicable adjustments2020-11-300
Prefunding balance at beginning of prior year after applicable adjustments2020-11-300
Carryover balanced portion elected for use to offset prior years funding requirement2020-11-300
Prefunding balanced used to offset prior years funding requirement2020-11-300
Amount remaining of carryover balance2020-11-300
Amount remaining of prefunding balance2020-11-300
Present value of excess contributions2020-11-30125,536
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-11-30125,536
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-11-300
Reductions in caryover balances due to elections or deemed elections2020-11-300
Reductions in prefunding balances due to elections or deemed elections2020-11-300
Balance of carryovers at beginning of current year2020-11-300
Balance of prefunding at beginning of current year2020-11-300
Total employer contributions2020-11-30147,694
Total employee contributions2020-11-300
Contributions allocated toward unpaid minimum require contributions from prior years2020-11-300
Contributions made to avoid restrictions adjusted to valuation date2020-11-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-11-30150,012
Unpaid minimum required contributions for all prior years2020-11-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-11-300
Remaining amount of unpaid minimum required contributions2020-11-300
Minimum required contributions for current year target normal cost2020-11-30140,158
Net shortfall amortization installment of oustanding balance2020-11-3012,788
Waiver amortization installment2020-11-300
Total funding amount beforereflecting carryover/prefunding balances2020-11-30145,328
Additional cash requirement2020-11-30145,328
Contributions allocatedtoward minimum required contributions for current year2020-11-30150,012
Unpaid minimum required contributions for current year2020-11-300
Unpaid minimum required contributions for all years2020-11-300
2019: GLOBAL WEALTH SOLUTIONS RETIREMENT PLAN 2019 401k membership
Market value of plan assets2019-11-300
Acturial value of plan assets2019-11-300
Funding target for retired participants and beneficiaries receiving payment2019-11-300
Number of terminated vested participants2019-11-300
Fundng target for terminated vested participants2019-11-300
Active participant vested funding target2019-11-300
Number of active participants2019-11-302
Total funding liabilities for active participants2019-11-30159,340
Total participant count2019-11-302
Total funding target for all participants2019-11-30159,340
Balance at beginning of prior year after applicable adjustments2019-11-300
Prefunding balance at beginning of prior year after applicable adjustments2019-11-300
Carryover balanced portion elected for use to offset prior years funding requirement2019-11-300
Prefunding balanced used to offset prior years funding requirement2019-11-300
Amount remaining of carryover balance2019-11-300
Amount remaining of prefunding balance2019-11-300
Present value of excess contributions2019-11-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-11-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-11-300
Reductions in caryover balances due to elections or deemed elections2019-11-300
Reductions in prefunding balances due to elections or deemed elections2019-11-300
Balance of carryovers at beginning of current year2019-11-300
Balance of prefunding at beginning of current year2019-11-300
Total employer contributions2019-11-30150,165
Total employee contributions2019-11-300
Contributions allocated toward unpaid minimum require contributions from prior years2019-11-300
Contributions made to avoid restrictions adjusted to valuation date2019-11-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-11-30151,548
Unpaid minimum required contributions for all prior years2019-11-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-11-300
Remaining amount of unpaid minimum required contributions2019-11-300
Minimum required contributions for current year target normal cost2019-11-300
Net shortfall amortization installment of oustanding balance2019-11-30159,340
Total funding amount beforereflecting carryover/prefunding balances2019-11-3026,012
Carryover balance elected to use to offset funding requirement2019-11-300
Prefunding balance elected to use to offset funding requirement2019-11-300
Additional cash requirement2019-11-3026,012
Contributions allocatedtoward minimum required contributions for current year2019-11-30151,548
Unpaid minimum required contributions for current year2019-11-300
Unpaid minimum required contributions for all years2019-11-300

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