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DESIGN WORKS STUDIO CASH BALANCE PENSION PLAN 401k Plan overview

Plan NameDESIGN WORKS STUDIO CASH BALANCE PENSION PLAN
Plan identification number 002

DESIGN WORKS STUDIO CASH BALANCE PENSION 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).
  • 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

DESIGN WORKS STUDIO, INC. has sponsored the creation of one or more 401k plans.

Company Name:DESIGN WORKS STUDIO, INC.
Employer identification number (EIN):752768012
NAIC Classification:541800

Additional information about DESIGN WORKS STUDIO, INC.

Jurisdiction of Incorporation: Texas Secretary of State
Incorporation Date: 1998-05-05
Company Identification Number: 0148911000
Legal Registered Office Address: 125 W CHAPEL DOWNS DR

SOUTHLAKE
United States of America (USA)
76092

More information about DESIGN WORKS STUDIO, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan DESIGN WORKS STUDIO CASH BALANCE PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022021-12-01CINDY ENGEL2023-06-27
0022020-12-01CINDY ENGEL2022-09-13
0022020-01-01CINDY ENGEL2021-09-10

Plan Statistics for DESIGN WORKS STUDIO CASH BALANCE PENSION PLAN

401k plan membership statisitcs for DESIGN WORKS STUDIO CASH BALANCE PENSION PLAN

Measure Date Value
2022: DESIGN WORKS STUDIO CASH BALANCE PENSION PLAN 2022 401k membership
Market value of plan assets2022-11-30514,379
Acturial value of plan assets2022-11-30514,379
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 target2022-11-30394,349
Number of active participants2022-11-305
Total funding liabilities for active participants2022-11-30394,349
Total participant count2022-11-305
Total funding target for all participants2022-11-30394,349
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 contributions2022-11-30201,175
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-11-30201,175
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 contributions2022-11-30185,500
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 date2022-11-30185,059
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 cost2022-11-30186,109
Net shortfall amortization installment of oustanding balance2022-11-300
Waiver amortization installment2022-11-300
Total funding amount beforereflecting carryover/prefunding balances2022-11-3066,079
Carryover balance elected to use to offset funding requirement2022-11-300
Prefunding balance elected to use to offset funding requirement2022-11-300
Additional cash requirement2022-11-3066,079
Contributions allocatedtoward minimum required contributions for current year2022-11-30185,059
Unpaid minimum required contributions for current year2022-11-300
Unpaid minimum required contributions for all years2022-11-300
2021: DESIGN WORKS STUDIO CASH BALANCE PENSION PLAN 2021 401k membership
Market value of plan assets2021-11-30239,274
Acturial value of plan assets2021-11-30239,274
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 participants2021-11-305
Total funding liabilities for active participants2021-11-30188,884
Total participant count2021-11-305
Total funding target for all participants2021-11-30188,884
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 contributions2021-11-3033,076
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-11-3033,076
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 contributions2021-11-30327,544
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 date2021-11-30332,640
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 cost2021-11-30181,855
Net shortfall amortization installment of oustanding balance2021-11-300
Waiver amortization installment2021-11-300
Total funding amount beforereflecting carryover/prefunding balances2021-11-30131,465
Carryover balance elected to use to offset funding requirement2021-11-300
Prefunding balance elected to use to offset funding requirement2021-11-300
Additional cash requirement2021-11-30131,465
Contributions allocatedtoward minimum required contributions for current year2021-11-30332,640
Unpaid minimum required contributions for current year2021-11-300
Unpaid minimum required contributions for all years2021-11-300
2020: DESIGN WORKS STUDIO CASH BALANCE PENSION PLAN 2020 401k membership
Market value of plan assets2020-11-300
Acturial value of plan assets2020-11-300
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 participants2020-11-303
Total funding liabilities for active participants2020-11-300
Total participant count2020-11-303
Total funding target for all participants2020-11-300
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 contributions2020-11-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-11-300
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 contributions2020-11-30214,166
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 date2020-11-30212,107
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 cost2020-11-30179,031
Net shortfall amortization installment of oustanding balance2020-11-300
Waiver amortization installment2020-11-300
Total funding amount beforereflecting carryover/prefunding balances2020-11-30179,031
Carryover balance elected to use to offset funding requirement2020-11-300
Prefunding balance elected to use to offset funding requirement2020-11-300
Additional cash requirement2020-11-30179,031
Contributions allocatedtoward minimum required contributions for current year2020-11-30212,107
Unpaid minimum required contributions for current year2020-11-300
Unpaid minimum required contributions for all years2020-11-300

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