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SOUTHERN STATES METALS CORPORATION RETIREMENT PLAN 401k Plan overview

Plan NameSOUTHERN STATES METALS CORPORATION RETIREMENT PLAN
Plan identification number 001

SOUTHERN STATES METALS CORPORATION RETIREMENT PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • 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.
  • 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

SOUTHERN STATES METALS CORPORATION has sponsored the creation of one or more 401k plans.

Company Name:SOUTHERN STATES METALS CORPORATION
Employer identification number (EIN):561631912
NAIC Classification:331200

Additional information about SOUTHERN STATES METALS CORPORATION

Jurisdiction of Incorporation: North Carolina Secretary of State
Incorporation Date:
Company Identification Number: 0238455

More information about SOUTHERN STATES METALS CORPORATION

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SOUTHERN STATES METALS CORPORATION RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012012-01-01KIM T. CARPENTER
0012011-01-01KIM T. CARPENTER
0012009-01-01DAVID A. RIDGWAY

Financial Data on SOUTHERN STATES METALS CORPORATION RETIREMENT PLAN

Measure Date Value
2012 : SOUTHERN STATES METALS CORPORATION RETIREMENT PLAN 2012 401k financial data
Transfers to/from the plan2012-12-31$0
Total plan liabilities at end of year2012-12-31$0
Total plan liabilities at beginning of year2012-12-31$0
Total income from all sources2012-12-31$11,425
Expenses. Total of all expenses incurred2012-12-31$184,197
Benefits paid (including direct rollovers)2012-12-31$178,012
Total plan assets at end of year2012-12-31$0
Total plan assets at beginning of year2012-12-31$172,772
Total contributions received or receivable from participants2012-12-31$787
Expenses. Other expenses not covered elsewhere2012-12-31$598
Contributions received from other sources (not participants or employers)2012-12-31$0
Other income received2012-12-31$10,638
Noncash contributions received2012-12-31$0
Net income (gross income less expenses)2012-12-31$-172,772
Net plan assets at end of year (total assets less liabilities)2012-12-31$0
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$172,772
Total contributions received or receivable from employer(s)2012-12-31$0
Value of certain deemed distributions of participant loans2012-12-31$2,060
Value of corrective distributions2012-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2012-12-31$3,527
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-31$0
2011 : SOUTHERN STATES METALS CORPORATION RETIREMENT PLAN 2011 401k financial data
Total plan liabilities at end of year2011-12-31$0
Total plan liabilities at beginning of year2011-12-31$0
Total income from all sources2011-12-31$-9,823
Expenses. Total of all expenses incurred2011-12-31$5,355
Benefits paid (including direct rollovers)2011-12-31$3,166
Total plan assets at end of year2011-12-31$172,772
Total plan assets at beginning of year2011-12-31$187,950
Total contributions received or receivable from participants2011-12-31$1,834
Expenses. Other expenses not covered elsewhere2011-12-31$129
Contributions received from other sources (not participants or employers)2011-12-31$0
Other income received2011-12-31$-11,657
Noncash contributions received2011-12-31$0
Net income (gross income less expenses)2011-12-31$-15,178
Net plan assets at end of year (total assets less liabilities)2011-12-31$172,772
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$187,950
Assets. Value of participant loans2011-12-31$2,060
Total contributions received or receivable from employer(s)2011-12-31$0
Value of certain deemed distributions of participant loans2011-12-31$0
Value of corrective distributions2011-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2011-12-31$2,060
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
2010 : SOUTHERN STATES METALS CORPORATION RETIREMENT PLAN 2010 401k financial data
Total plan liabilities at end of year2010-12-31$0
Total plan liabilities at beginning of year2010-12-31$0
Total income from all sources2010-12-31$44,530
Expenses. Total of all expenses incurred2010-12-31$92,692
Benefits paid (including direct rollovers)2010-12-31$89,918
Total plan assets at end of year2010-12-31$187,950
Total plan assets at beginning of year2010-12-31$236,112
Total contributions received or receivable from participants2010-12-31$1,738
Expenses. Other expenses not covered elsewhere2010-12-31$0
Contributions received from other sources (not participants or employers)2010-12-31$99
Other income received2010-12-31$31,813
Noncash contributions received2010-12-31$0
Net income (gross income less expenses)2010-12-31$-48,162
Net plan assets at end of year (total assets less liabilities)2010-12-31$187,950
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$236,112
Total contributions received or receivable from employer(s)2010-12-31$10,880
Value of certain deemed distributions of participant loans2010-12-31$0
Value of corrective distributions2010-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-31$2,774
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0

Form 5500 Responses for SOUTHERN STATES METALS CORPORATION RETIREMENT PLAN

2012: SOUTHERN STATES METALS CORPORATION RETIREMENT PLAN 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Submission has been amendedNo
2012-01-01This submission is the final filingYes
2012-01-01This return/report is a short plan year return/report (less than 12 months)No
2012-01-01Plan is a collectively bargained planNo
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement - TrustYes
2011: SOUTHERN STATES METALS CORPORATION RETIREMENT PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedNo
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes
2009: SOUTHERN STATES METALS CORPORATION RETIREMENT PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

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