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RETIREMENT PLAN FOR EMPLOYEES OF DIVERSEY, INC. 401k Plan overview

Plan NameRETIREMENT PLAN FOR EMPLOYEES OF DIVERSEY, INC.
Plan identification number 010

RETIREMENT PLAN FOR EMPLOYEES OF DIVERSEY, INC. Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • 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 sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

SEALED AIR CORPORATION has sponsored the creation of one or more 401k plans.

Company Name:SEALED AIR CORPORATION
Employer identification number (EIN):650654331
NAIC Classification:326100

Additional information about SEALED AIR CORPORATION

Jurisdiction of Incorporation: State of Delaware Division of Corporations
Incorporation Date:
Company Identification Number: 2586601

More information about SEALED AIR CORPORATION

Form 5500 Filing Information

Submission information for form 5500 for 401k plan RETIREMENT PLAN FOR EMPLOYEES OF DIVERSEY, INC.

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0102017-01-01MICHAEL KONCHAN
0102016-01-01MICHAEL KONCHAN
0102016-01-01

Plan Statistics for RETIREMENT PLAN FOR EMPLOYEES OF DIVERSEY, INC.

401k plan membership statisitcs for RETIREMENT PLAN FOR EMPLOYEES OF DIVERSEY, INC.

Measure Date Value
2017: RETIREMENT PLAN FOR EMPLOYEES OF DIVERSEY, INC. 2017 401k membership
Market value of plan assets2017-12-3199,177,971
Acturial value of plan assets2017-12-3199,177,971
Funding target for retired participants and beneficiaries receiving payment2017-12-3159,492,431
Number of terminated vested participants2017-12-31671
Fundng target for terminated vested participants2017-12-3126,504,091
Active participant vested funding target2017-12-3117,635,129
Number of active participants2017-12-31379
Total funding liabilities for active participants2017-12-3117,635,129
Total participant count2017-12-311,755
Total funding target for all participants2017-12-31103,631,651
Balance at beginning of prior year after applicable adjustments2017-12-3113,409,924
Prefunding balance at beginning of prior year after applicable adjustments2017-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2017-12-314,185,322
Prefunding balanced used to offset prior years funding requirement2017-12-310
Amount remaining of carryover balance2017-12-319,224,602
Amount remaining of prefunding balance2017-12-310
Present value of excess contributions2017-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-12-310
Reductions in caryover balances due to elections or deemed elections2017-12-310
Reductions in prefunding balances due to elections or deemed elections2017-12-310
Balance of carryovers at beginning of current year2017-12-319,967,182
Balance of prefunding at beginning of current year2017-12-310
Total employer contributions2017-12-310
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 date2017-12-310
Liquidity shortfalls end of Q12017-12-310
Liquidity shortfalls end of Q22017-12-310
Liquidity shortfalls end of Q32017-12-310
Liquidity shortfalls end of Q42017-12-310
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 cost2017-12-311,400,000
Net shortfall amortization installment of oustanding balance2017-12-3114,420,862
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-314,130,954
Carryover balance elected to use to offset funding requirement2017-12-314,130,954
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-310
Contributions allocatedtoward minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
Total participants, beginning-of-year2017-01-011,752
Total number of active participants reported on line 7a of the Form 55002017-01-010
Number of retired or separated participants receiving benefits2017-01-010
Number of other retired or separated participants entitled to future benefits2017-01-010
Total of all active and inactive participants2017-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-010
2016: RETIREMENT PLAN FOR EMPLOYEES OF DIVERSEY, INC. 2016 401k membership
Market value of plan assets2016-12-31103,651,489
Acturial value of plan assets2016-12-31103,651,489
Funding target for retired participants and beneficiaries receiving payment2016-12-3157,745,638
Number of terminated vested participants2016-12-31756
Fundng target for terminated vested participants2016-12-3127,514,004
Active participant vested funding target2016-12-3123,655,558
Number of active participants2016-12-31429
Total funding liabilities for active participants2016-12-3123,655,558
Total participant count2016-12-311,904
Total funding target for all participants2016-12-31108,915,200
Balance at beginning of prior year after applicable adjustments2016-12-3114,346,000
Prefunding balance at beginning of prior year after applicable adjustments2016-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2016-12-31700,000
Prefunding balanced used to offset prior years funding requirement2016-12-310
Amount remaining of carryover balance2016-12-3113,646,000
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 year2016-12-3113,409,924
Balance of prefunding at beginning of current year2016-12-310
Total employer contributions2016-12-310
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 date2016-12-310
Liquidity shortfalls end of Q12016-12-310
Liquidity shortfalls end of Q22016-12-310
Liquidity shortfalls end of Q32016-12-310
Liquidity shortfalls end of Q42016-12-310
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 cost2016-12-311,100,000
Net shortfall amortization installment of oustanding balance2016-12-3118,673,635
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-314,185,322
Carryover balance elected to use to offset funding requirement2016-12-314,185,322
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-310
Contributions allocatedtoward minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310
Total participants, beginning-of-year2016-01-011,904
Total number of active participants reported on line 7a of the Form 55002016-01-01379
Number of retired or separated participants receiving benefits2016-01-01621
Number of other retired or separated participants entitled to future benefits2016-01-01672
Total of all active and inactive participants2016-01-011,672
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-0180
Total participants2016-01-011,752
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-010

Financial Data on RETIREMENT PLAN FOR EMPLOYEES OF DIVERSEY, INC.

Measure Date Value
2017 : RETIREMENT PLAN FOR EMPLOYEES OF DIVERSEY, INC. 2017 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2017-12-31$-34,109
Total unrealized appreciation/depreciation of assets2017-12-31$-34,109
Total transfer of assets to this plan2017-12-31$0
Total transfer of assets from this plan2017-12-31$92,026,621
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2017-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2017-12-31$0
Total income from all sources (including contributions)2017-12-31$14,403,716
Total loss/gain on sale of assets2017-12-31$48,808
Total of all expenses incurred2017-12-31$21,851,470
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2017-12-31$20,135,915
Total contributions o plan (from employers,participants, others, non cash contrinutions)2017-12-31$0
Value of total assets at end of year2017-12-31$0
Value of total assets at beginning of year2017-12-31$99,474,375
Total of administrative expenses incurred including professional, contract, advisory and management fees2017-12-31$1,715,555
Total income from rents2017-12-31$-54
Total interest from all sources2017-12-31$-357
Total dividends received (eg from common stock, registered investment company shares)2017-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2017-12-31No
Assets. Real estate other than employer real property at end of year2017-12-31$0
Assets. Real estate other than employer real property at beginning of year2017-12-31$47,712
Administrative expenses professional fees incurred2017-12-31$842,566
Was this plan covered by a fidelity bond2017-12-31Yes
Value of fidelity bond cover2017-12-31$15,000,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2017-12-31$0
Were there any nonexempt tranactions with any party-in-interest2017-12-31No
Value of other receiveables (less allowance for doubtful accounts) at end of year2017-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2017-12-31$1,833
Administrative expenses (other) incurred2017-12-31$872,989
Total non interest bearing cash at end of year2017-12-31$0
Total non interest bearing cash at beginning of year2017-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2017-12-31No
Value of net income/loss2017-12-31$-7,447,754
Value of net assets at end of year (total assets less liabilities)2017-12-31$0
Value of net assets at beginning of year (total assets less liabilities)2017-12-31$99,474,375
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2017-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2017-12-31No
Were any leases to which the plan was party in default or uncollectible2017-12-31No
Assets. partnership/joint venture interests at end of year2017-12-31$0
Assets. partnership/joint venture interests at beginning of year2017-12-31$63,731
Value of interest in common/collective trusts at end of year2017-12-31$0
Value of interest in common/collective trusts at beginning of year2017-12-31$99,361,099
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2017-12-31$-357
Net investment gain or loss from common/collective trusts2017-12-31$14,389,428
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2017-12-31Yes
Was there a failure to transmit to the plan any participant contributions2017-12-31No
Has the plan failed to provide any benefit when due under the plan2017-12-31No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2017-12-31$20,135,915
Did the plan have assets held for investment2017-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2017-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2017-12-31Yes
Aggregate proceeds on sale of assets2017-12-31$64,717
Aggregate carrying amount (costs) on sale of assets2017-12-31$15,909
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2017-12-31Yes
Opinion of an independent qualified public accountant for this plan2017-12-31Disclaimer
Accountancy firm name2017-12-31ERNST & YOUNG
Accountancy firm EIN2017-12-31346565596
2016 : RETIREMENT PLAN FOR EMPLOYEES OF DIVERSEY, INC. 2016 401k financial data
Unrealized appreciation/depreciation of real estate assets2016-12-31$-49
Unrealized appreciation/depreciation of other (non real estate) assets2016-12-31$-21,666
Total unrealized appreciation/depreciation of assets2016-12-31$-21,715
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$0
Total income from all sources (including contributions)2016-12-31$8,054,791
Total loss/gain on sale of assets2016-12-31$-160,968
Total of all expenses incurred2016-12-31$12,329,113
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2016-12-31$10,897,694
Total contributions o plan (from employers,participants, others, non cash contrinutions)2016-12-31$0
Value of total assets at end of year2016-12-31$99,474,375
Value of total assets at beginning of year2016-12-31$103,748,697
Total of administrative expenses incurred including professional, contract, advisory and management fees2016-12-31$1,431,419
Total income from rents2016-12-31$293,053
Total interest from all sources2016-12-31$-169
Total dividends received (eg from common stock, registered investment company shares)2016-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2016-12-31No
Assets. Real estate other than employer real property at end of year2016-12-31$47,712
Assets. Real estate other than employer real property at beginning of year2016-12-31$8,377,629
Administrative expenses professional fees incurred2016-12-31$561,845
Was this plan covered by a fidelity bond2016-12-31Yes
Value of fidelity bond cover2016-12-31$20,000,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2016-12-31$0
Were there any nonexempt tranactions with any party-in-interest2016-12-31No
Value of other receiveables (less allowance for doubtful accounts) at end of year2016-12-31$1,833
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2016-12-31$449
Other income not declared elsewhere2016-12-31$199,912
Administrative expenses (other) incurred2016-12-31$826,984
Total non interest bearing cash at end of year2016-12-31$0
Total non interest bearing cash at beginning of year2016-12-31$83
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Value of net income/loss2016-12-31$-4,274,322
Value of net assets at end of year (total assets less liabilities)2016-12-31$99,474,375
Value of net assets at beginning of year (total assets less liabilities)2016-12-31$103,748,697
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2016-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2016-12-31No
Were any leases to which the plan was party in default or uncollectible2016-12-31No
Assets. partnership/joint venture interests at end of year2016-12-31$63,731
Assets. partnership/joint venture interests at beginning of year2016-12-31$93,533
Investment advisory and management fees2016-12-31$42,590
Value of interest in common/collective trusts at end of year2016-12-31$99,361,099
Value of interest in common/collective trusts at beginning of year2016-12-31$95,277,003
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2016-12-31$-169
Net investment gain or loss from common/collective trusts2016-12-31$7,744,678
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2016-12-31Yes
Was there a failure to transmit to the plan any participant contributions2016-12-31No
Has the plan failed to provide any benefit when due under the plan2016-12-31No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2016-12-31$10,897,694
Did the plan have assets held for investment2016-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31Yes
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2016-12-31No
Aggregate proceeds on sale of assets2016-12-31$8,450,391
Aggregate carrying amount (costs) on sale of assets2016-12-31$8,611,359
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2016-12-31Yes
Opinion of an independent qualified public accountant for this plan2016-12-31Disclaimer
Accountancy firm name2016-12-31ERNST & YOUNG
Accountancy firm EIN2016-12-31346565596

Form 5500 Responses for RETIREMENT PLAN FOR EMPLOYEES OF DIVERSEY, INC.

2017: RETIREMENT PLAN FOR EMPLOYEES OF DIVERSEY, INC. 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedNo
2017-01-01This submission is the final filingYes
2017-01-01This return/report is a short plan year return/report (less than 12 months)No
2017-01-01Plan is a collectively bargained planNo
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: RETIREMENT PLAN FOR EMPLOYEES OF DIVERSEY, INC. 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Submission has been amendedYes
2016-01-01This submission is the final filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes

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