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K & T STEEL CORPORATION 401(K) PROFIT SHARING PLAN & TRUST 401k Plan overview

Plan NameK & T STEEL CORPORATION 401(K) PROFIT SHARING PLAN & TRUST
Plan identification number 003

K & T STEEL CORPORATION 401(K) PROFIT SHARING PLAN & TRUST Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • 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.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • 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

K & T STEEL CORPORATION has sponsored the creation of one or more 401k plans.

Company Name:K & T STEEL CORPORATION
Employer identification number (EIN):472191343
NAIC Classification:541990
NAIC Description:All Other Professional, Scientific, and Technical Services

Form 5500 Filing Information

Submission information for form 5500 for 401k plan K & T STEEL CORPORATION 401(K) PROFIT SHARING PLAN & TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032022-01-01
0032021-01-01GARY PALMER2022-06-15
0032020-01-01GARY PALMER2021-06-22
0032019-01-01GARY PALMER2020-07-15
0032018-01-01GARY PALMER2019-07-09
0032017-01-01GARY PALMER2018-07-30
0032016-01-01GARY PALMER2017-07-27
0032015-01-01GARY PALMER
0032015-01-01

Plan Statistics for K & T STEEL CORPORATION 401(K) PROFIT SHARING PLAN & TRUST

401k plan membership statisitcs for K & T STEEL CORPORATION 401(K) PROFIT SHARING PLAN & TRUST

Measure Date Value
2022: K & T STEEL CORPORATION 401(K) PROFIT SHARING PLAN & TRUST 2022 401k membership
Total participants, beginning-of-year2022-01-0128
Total number of active participants reported on line 7a of the Form 55002022-01-0123
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-013
Total of all active and inactive participants2022-01-0126
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-0126
Number of participants with account balances2022-01-0126
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2015: K & T STEEL CORPORATION 401(K) PROFIT SHARING PLAN & TRUST 2015 401k membership
Total participants, beginning-of-year2015-01-010
Total number of active participants reported on line 7a of the Form 55002015-01-0134
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-012
Total of all active and inactive participants2015-01-0136
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-0136
Number of participants with account balances2015-01-0136
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-012

Financial Data on K & T STEEL CORPORATION 401(K) PROFIT SHARING PLAN & TRUST

Measure Date Value
2022 : K & T STEEL CORPORATION 401(K) PROFIT SHARING PLAN & TRUST 2022 401k financial data
Transfers to/from the plan2022-12-31$0
Total plan liabilities at end of year2022-12-31$0
Total plan liabilities at beginning of year2022-12-31$0
Total income from all sources2022-12-31$-176,669
Expenses. Total of all expenses incurred2022-12-31$39,310
Benefits paid (including direct rollovers)2022-12-31$8,956
Total plan assets at end of year2022-12-31$2,370,388
Total plan assets at beginning of year2022-12-31$2,586,367
Value of fidelity bond covering the plan2022-12-31$100,000
Total contributions received or receivable from participants2022-12-31$161,114
Expenses. Other expenses not covered elsewhere2022-12-31$0
Contributions received from other sources (not participants or employers)2022-12-31$0
Other income received2022-12-31$-438,444
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$-215,979
Net plan assets at end of year (total assets less liabilities)2022-12-31$2,370,388
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$2,586,367
Assets. Value of participant loans2022-12-31$49,414
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022022-12-31$0
Total contributions received or receivable from employer(s)2022-12-31$100,661
Value of certain deemed distributions of participant loans2022-12-31$18,224
Value of corrective distributions2022-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$12,130
2015 : K & T STEEL CORPORATION 401(K) PROFIT SHARING PLAN & TRUST 2015 401k financial data
Transfers to/from the plan2015-12-31$0
Total plan liabilities at end of year2015-12-31$0
Total plan liabilities at beginning of year2015-12-31$0
Total income from all sources2015-12-31$522,104
Expenses. Total of all expenses incurred2015-12-31$0
Benefits paid (including direct rollovers)2015-12-31$0
Total plan assets at end of year2015-12-31$522,104
Total plan assets at beginning of year2015-12-31$0
Value of fidelity bond covering the plan2015-12-31$0
Total contributions received or receivable from participants2015-12-31$27,458
Expenses. Other expenses not covered elsewhere2015-12-31$0
Contributions received from other sources (not participants or employers)2015-12-31$0
Other income received2015-12-31$483,843
Net income (gross income less expenses)2015-12-31$522,104
Net plan assets at end of year (total assets less liabilities)2015-12-31$522,104
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$0
Total contributions received or receivable from employer(s)2015-12-31$10,803
Value of certain deemed distributions of participant loans2015-12-31$0
Value of corrective distributions2015-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2015-12-31$0

Form 5500 Responses for K & T STEEL CORPORATION 401(K) PROFIT SHARING PLAN & TRUST

2022: K & T STEEL CORPORATION 401(K) PROFIT SHARING PLAN & TRUST 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2015: K & T STEEL CORPORATION 401(K) PROFIT SHARING PLAN & TRUST 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingNo
2015-01-01This return/report is a short plan year return/report (less than 12 months)No
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes

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