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L & W, INC. CASH BALANCE PLAN 401k Plan overview

Plan NameL & W, INC. CASH BALANCE PLAN
Plan identification number 002

L & W, INC. CASH BALANCE 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).
  • Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

LOCAL & WESTERN OF TEXAS, INC. has sponsored the creation of one or more 401k plans.

Company Name:LOCAL & WESTERN OF TEXAS, INC.
Employer identification number (EIN):751008008
NAIC Classification:423990
NAIC Description:Other Miscellaneous Durable Goods Merchant Wholesalers

Additional information about LOCAL & WESTERN OF TEXAS, INC.

Jurisdiction of Incorporation: Texas Secretary of State
Incorporation Date: 1958-11-17
Company Identification Number: 0015054200
Legal Registered Office Address: 5445 LA SIERRA DR STE 100

DALLAS
United States of America (USA)
75231

More information about LOCAL & WESTERN OF TEXAS, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan L & W, INC. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-04-01GERALD DARVER2023-11-20
0022021-04-01GERALD DARVER2022-12-22
0022020-04-01GERALD DARVER2021-10-08
0022019-04-01GERALD DARVER2020-10-29
0022018-04-01GERALD DARVER2019-11-14
0022017-04-01GERALD DARVER2019-01-11
0022016-04-01GERALD DARVER2018-01-09
0022015-04-01GERALD DARVER2016-10-25
0022014-04-01GERALD DARVER2015-12-10
0022013-04-01GERALD DARVER2015-01-15

Plan Statistics for L & W, INC. CASH BALANCE PLAN

401k plan membership statisitcs for L & W, INC. CASH BALANCE PLAN

Measure Date Value
2023: L & W, INC. CASH BALANCE PLAN 2023 401k membership
Market value of plan assets2023-03-312,077,302
Acturial value of plan assets2023-03-312,077,302
Funding target for retired participants and beneficiaries receiving payment2023-03-310
Number of terminated vested participants2023-03-313
Fundng target for terminated vested participants2023-03-317,721
Active participant vested funding target2023-03-311,882,092
Number of active participants2023-03-3112
Total funding liabilities for active participants2023-03-311,882,092
Total participant count2023-03-3115
Total funding target for all participants2023-03-311,889,813
Balance at beginning of prior year after applicable adjustments2023-03-310
Prefunding balance at beginning of prior year after applicable adjustments2023-03-310
Amount remaining of carryover balance2023-03-310
Amount remaining of prefunding balance2023-03-310
Present value of excess contributions2023-03-3175,994
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2023-03-3179,125
Reductions in caryover balances due to elections or deemed elections2023-03-310
Reductions in prefunding balances due to elections or deemed elections2023-03-310
Balance of carryovers at beginning of current year2023-03-310
Balance of prefunding at beginning of current year2023-03-310
Total employer contributions2023-03-310
Total employee contributions2023-03-310
Contributions allocated toward unpaid minimum require contributions from prior years2023-03-310
Contributions made to avoid restrictions adjusted to valuation date2023-03-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2023-03-310
Unpaid minimum required contributions for all prior years2023-03-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2023-03-310
Remaining amount of unpaid minimum required contributions2023-03-310
Minimum required contributions for current year target normal cost2023-03-3182,267
Net shortfall amortization installment of oustanding balance2023-03-310
Waiver amortization installment2023-03-310
Total funding amount beforereflecting carryover/prefunding balances2023-03-310
Carryover balance elected to use to offset funding requirement2023-03-310
Prefunding balance elected to use to offset funding requirement2023-03-310
Additional cash requirement2023-03-310
Contributions allocatedtoward minimum required contributions for current year2023-03-310
Unpaid minimum required contributions for current year2023-03-310
Unpaid minimum required contributions for all years2023-03-310
2022: L & W, INC. CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-03-311,790,325
Acturial value of plan assets2022-03-311,790,325
Funding target for retired participants and beneficiaries receiving payment2022-03-310
Number of terminated vested participants2022-03-313
Fundng target for terminated vested participants2022-03-318,196
Active participant vested funding target2022-03-311,694,629
Number of active participants2022-03-3112
Total funding liabilities for active participants2022-03-311,694,629
Total participant count2022-03-3115
Total funding target for all participants2022-03-311,702,825
Balance at beginning of prior year after applicable adjustments2022-03-310
Prefunding balance at beginning of prior year after applicable adjustments2022-03-310
Carryover balanced portion elected for use to offset prior years funding requirement2022-03-310
Prefunding balanced used to offset prior years funding requirement2022-03-310
Amount remaining of carryover balance2022-03-310
Amount remaining of prefunding balance2022-03-310
Present value of excess contributions2022-03-3120,880
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-03-3121,822
Reductions in caryover balances due to elections or deemed elections2022-03-310
Reductions in prefunding balances due to elections or deemed elections2022-03-310
Balance of carryovers at beginning of current year2022-03-310
Balance of prefunding at beginning of current year2022-03-310
Total employer contributions2022-03-31212,255
Total employee contributions2022-03-310
Contributions allocated toward unpaid minimum require contributions from prior years2022-03-310
Contributions made to avoid restrictions adjusted to valuation date2022-03-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-03-31207,725
Unpaid minimum required contributions for all prior years2022-03-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-03-310
Remaining amount of unpaid minimum required contributions2022-03-310
Minimum required contributions for current year target normal cost2022-03-31219,231
Net shortfall amortization installment of oustanding balance2022-03-310
Waiver amortization installment2022-03-310
Total funding amount beforereflecting carryover/prefunding balances2022-03-31131,731
Additional cash requirement2022-03-31131,731
Contributions allocatedtoward minimum required contributions for current year2022-03-31207,725
Unpaid minimum required contributions for current year2022-03-310
Unpaid minimum required contributions for all years2022-03-310
2021: L & W, INC. CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-03-311,317,986
Acturial value of plan assets2021-03-311,317,986
Funding target for retired participants and beneficiaries receiving payment2021-03-310
Number of terminated vested participants2021-03-313
Fundng target for terminated vested participants2021-03-316,682
Active participant vested funding target2021-03-311,479,053
Number of active participants2021-03-3113
Total funding liabilities for active participants2021-03-311,479,387
Total participant count2021-03-3116
Total funding target for all participants2021-03-311,486,069
Balance at beginning of prior year after applicable adjustments2021-03-310
Prefunding balance at beginning of prior year after applicable adjustments2021-03-310
Carryover balanced portion elected for use to offset prior years funding requirement2021-03-310
Prefunding balanced used to offset prior years funding requirement2021-03-310
Amount remaining of carryover balance2021-03-310
Amount remaining of prefunding balance2021-03-310
Present value of excess contributions2021-03-318,272
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-03-318,656
Reductions in caryover balances due to elections or deemed elections2021-03-310
Reductions in prefunding balances due to elections or deemed elections2021-03-310
Balance of carryovers at beginning of current year2021-03-310
Balance of prefunding at beginning of current year2021-03-310
Total employer contributions2021-03-31281,000
Total employee contributions2021-03-310
Contributions allocated toward unpaid minimum require contributions from prior years2021-03-310
Contributions made to avoid restrictions adjusted to valuation date2021-03-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-03-31268,191
Unpaid minimum required contributions for all prior years2021-03-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-03-310
Remaining amount of unpaid minimum required contributions2021-03-310
Minimum required contributions for current year target normal cost2021-03-31219,221
Net shortfall amortization installment of oustanding balance2021-03-31168,083
Waiver amortization installment2021-03-310
Total funding amount beforereflecting carryover/prefunding balances2021-03-31247,311
Carryover balance elected to use to offset funding requirement2021-03-310
Prefunding balance elected to use to offset funding requirement2021-03-310
Additional cash requirement2021-03-31247,311
Contributions allocatedtoward minimum required contributions for current year2021-03-31268,191
Unpaid minimum required contributions for current year2021-03-310
Unpaid minimum required contributions for all years2021-03-310
2020: L & W, INC. CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-03-311,260,674
Acturial value of plan assets2020-03-311,260,674
Funding target for retired participants and beneficiaries receiving payment2020-03-310
Number of terminated vested participants2020-03-312
Fundng target for terminated vested participants2020-03-314,904
Active participant vested funding target2020-03-311,272,399
Number of active participants2020-03-3114
Total funding liabilities for active participants2020-03-311,272,399
Total participant count2020-03-3116
Total funding target for all participants2020-03-311,277,303
Balance at beginning of prior year after applicable adjustments2020-03-310
Prefunding balance at beginning of prior year after applicable adjustments2020-03-310
Carryover balanced portion elected for use to offset prior years funding requirement2020-03-310
Prefunding balanced used to offset prior years funding requirement2020-03-310
Amount remaining of carryover balance2020-03-310
Amount remaining of prefunding balance2020-03-310
Present value of excess contributions2020-03-317,611
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-03-317,985
Reductions in caryover balances due to elections or deemed elections2020-03-310
Reductions in prefunding balances due to elections or deemed elections2020-03-310
Balance of carryovers at beginning of current year2020-03-310
Balance of prefunding at beginning of current year2020-03-310
Total employer contributions2020-03-31236,070
Total employee contributions2020-03-310
Contributions allocated toward unpaid minimum require contributions from prior years2020-03-310
Contributions made to avoid restrictions adjusted to valuation date2020-03-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-03-31225,182
Unpaid minimum required contributions for all prior years2020-03-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-03-310
Remaining amount of unpaid minimum required contributions2020-03-310
Minimum required contributions for current year target normal cost2020-03-31213,747
Net shortfall amortization installment of oustanding balance2020-03-3116,629
Waiver amortization installment2020-03-310
Total funding amount beforereflecting carryover/prefunding balances2020-03-31216,910
Carryover balance elected to use to offset funding requirement2020-03-310
Prefunding balance elected to use to offset funding requirement2020-03-310
Additional cash requirement2020-03-31216,910
Contributions allocatedtoward minimum required contributions for current year2020-03-31225,182
Unpaid minimum required contributions for current year2020-03-310
Unpaid minimum required contributions for all years2020-03-310
2019: L & W, INC. CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-03-311,035,274
Acturial value of plan assets2019-03-311,035,274
Funding target for retired participants and beneficiaries receiving payment2019-03-310
Number of terminated vested participants2019-03-312
Fundng target for terminated vested participants2019-03-314,372
Active participant vested funding target2019-03-311,054,280
Number of active participants2019-03-3113
Total funding liabilities for active participants2019-03-311,054,681
Total participant count2019-03-3115
Total funding target for all participants2019-03-311,059,053
Balance at beginning of prior year after applicable adjustments2019-03-310
Prefunding balance at beginning of prior year after applicable adjustments2019-03-310
Carryover balanced portion elected for use to offset prior years funding requirement2019-03-310
Prefunding balanced used to offset prior years funding requirement2019-03-310
Amount remaining of carryover balance2019-03-310
Amount remaining of prefunding balance2019-03-310
Present value of excess contributions2019-03-3113,352
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-03-3114,025
Balance of carryovers at beginning of current year2019-03-310
Balance of prefunding at beginning of current year2019-03-310
Total employer contributions2019-03-31232,000
Total employee contributions2019-03-310
Contributions allocated toward unpaid minimum require contributions from prior years2019-03-310
Contributions made to avoid restrictions adjusted to valuation date2019-03-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-03-31222,592
Unpaid minimum required contributions for all prior years2019-03-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-03-310
Remaining amount of unpaid minimum required contributions2019-03-310
Minimum required contributions for current year target normal cost2019-03-31211,099
Net shortfall amortization installment of oustanding balance2019-03-3123,779
Waiver amortization installment2019-03-310
Total funding amount beforereflecting carryover/prefunding balances2019-03-31214,981
Carryover balance elected to use to offset funding requirement2019-03-310
Prefunding balance elected to use to offset funding requirement2019-03-310
Additional cash requirement2019-03-31214,981
Contributions allocatedtoward minimum required contributions for current year2019-03-31222,592
Unpaid minimum required contributions for current year2019-03-310
Unpaid minimum required contributions for all years2019-03-310
2018: L & W, INC. CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-03-31842,970
Acturial value of plan assets2018-03-31842,970
Funding target for retired participants and beneficiaries receiving payment2018-03-310
Number of terminated vested participants2018-03-312
Fundng target for terminated vested participants2018-03-313,872
Active participant vested funding target2018-03-31832,626
Number of active participants2018-03-3112
Total funding liabilities for active participants2018-03-31832,626
Total participant count2018-03-3114
Total funding target for all participants2018-03-31836,498
Balance at beginning of prior year after applicable adjustments2018-03-310
Prefunding balance at beginning of prior year after applicable adjustments2018-03-310
Carryover balanced portion elected for use to offset prior years funding requirement2018-03-310
Prefunding balanced used to offset prior years funding requirement2018-03-310
Amount remaining of carryover balance2018-03-310
Amount remaining of prefunding balance2018-03-310
Present value of excess contributions2018-03-317,716
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-03-318,103
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-03-310
Reductions in caryover balances due to elections or deemed elections2018-03-310
Reductions in prefunding balances due to elections or deemed elections2018-03-310
Balance of carryovers at beginning of current year2018-03-310
Balance of prefunding at beginning of current year2018-03-310
Total employer contributions2018-03-31226,000
Total employee contributions2018-03-310
Contributions allocated toward unpaid minimum require contributions from prior years2018-03-310
Contributions made to avoid restrictions adjusted to valuation date2018-03-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-03-31211,692
Unpaid minimum required contributions for all prior years2018-03-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-03-310
Remaining amount of unpaid minimum required contributions2018-03-310
Minimum required contributions for current year target normal cost2018-03-31204,812
Net shortfall amortization installment of oustanding balance2018-03-310
Waiver amortization installment2018-03-310
Total funding amount beforereflecting carryover/prefunding balances2018-03-31198,340
Carryover balance elected to use to offset funding requirement2018-03-310
Prefunding balance elected to use to offset funding requirement2018-03-310
Additional cash requirement2018-03-31198,340
Contributions allocatedtoward minimum required contributions for current year2018-03-31211,692
Unpaid minimum required contributions for current year2018-03-310
Unpaid minimum required contributions for all years2018-03-310
2017: L & W, INC. CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-03-31621,045
Acturial value of plan assets2017-03-31621,045
Funding target for retired participants and beneficiaries receiving payment2017-03-310
Number of terminated vested participants2017-03-312
Fundng target for terminated vested participants2017-03-313,441
Active participant vested funding target2017-03-31617,955
Number of active participants2017-03-319
Total funding liabilities for active participants2017-03-31621,049
Total participant count2017-03-3111
Total funding target for all participants2017-03-31624,490
Balance at beginning of prior year after applicable adjustments2017-03-310
Prefunding balance at beginning of prior year after applicable adjustments2017-03-310
Carryover balanced portion elected for use to offset prior years funding requirement2017-03-310
Prefunding balanced used to offset prior years funding requirement2017-03-310
Amount remaining of carryover balance2017-03-310
Amount remaining of prefunding balance2017-03-310
Present value of excess contributions2017-03-3114,747
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-03-3115,493
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-03-310
Reductions in caryover balances due to elections or deemed elections2017-03-310
Reductions in prefunding balances due to elections or deemed elections2017-03-310
Balance of carryovers at beginning of current year2017-03-310
Balance of prefunding at beginning of current year2017-03-310
Total employer contributions2017-03-31220,500
Total employee contributions2017-03-310
Contributions allocated toward unpaid minimum require contributions from prior years2017-03-310
Contributions made to avoid restrictions adjusted to valuation date2017-03-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-03-31211,052
Unpaid minimum required contributions for all prior years2017-03-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-03-310
Remaining amount of unpaid minimum required contributions2017-03-310
Minimum required contributions for current year target normal cost2017-03-31200,852
Net shortfall amortization installment of oustanding balance2017-03-313,445
Waiver amortization installment2017-03-310
Waived amount of outstanding balance2017-03-310
Total funding amount beforereflecting carryover/prefunding balances2017-03-31203,336
Carryover balance elected to use to offset funding requirement2017-03-310
Prefunding balance elected to use to offset funding requirement2017-03-310
Additional cash requirement2017-03-31203,336
Contributions allocatedtoward minimum required contributions for current year2017-03-31211,052
Unpaid minimum required contributions for current year2017-03-310
Unpaid minimum required contributions for all years2017-03-310

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