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THE BAUSCH & LOMB RETIREMENT BENEFITS PLAN 401k Plan overview

Plan NameTHE BAUSCH & LOMB RETIREMENT BENEFITS PLAN
Plan identification number 020

THE BAUSCH & LOMB RETIREMENT BENEFITS PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily flat dollar (includes dollars per year of service)
  • 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).

401k Sponsoring company profile

BAUSCH + LOMB AMERICAS INC. has sponsored the creation of one or more 401k plans.

Company Name:BAUSCH + LOMB AMERICAS INC.
Employer identification number (EIN):854359919
NAIC Classification:423990
NAIC Description:Other Miscellaneous Durable Goods Merchant Wholesalers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE BAUSCH & LOMB RETIREMENT BENEFITS PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0202022-01-01
0202021-01-01

Plan Statistics for THE BAUSCH & LOMB RETIREMENT BENEFITS PLAN

401k plan membership statisitcs for THE BAUSCH & LOMB RETIREMENT BENEFITS PLAN

Measure Date Value
2022: THE BAUSCH & LOMB RETIREMENT BENEFITS PLAN 2022 401k membership
Market value of plan assets2022-12-31224,021,642
Acturial value of plan assets2022-12-31219,617,412
Funding target for retired participants and beneficiaries receiving payment2022-12-3199,003,695
Number of terminated vested participants2022-12-311,399
Fundng target for terminated vested participants2022-12-3157,934,279
Active participant vested funding target2022-12-3126,337,196
Number of active participants2022-12-31726
Total funding liabilities for active participants2022-12-3126,575,334
Total participant count2022-12-314,392
Total funding target for all participants2022-12-31183,513,308
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-31254,352
Prefunding balanced used to offset prior years funding requirement2022-12-310
Amount remaining of carryover balance2022-12-310
Amount remaining of prefunding balance2022-12-31254,352
Present value of excess contributions2022-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-310
Balance of carryovers at beginning of current year2022-12-310
Balance of prefunding at beginning of current year2022-12-31264,857
Total employer contributions2022-12-310
Total employee contributions2022-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2022-12-310
Contributions made to avoid restrictions adjusted to valuation date2022-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-12-310
Unpaid minimum required contributions for all prior years2022-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-12-310
Remaining amount of unpaid minimum required contributions2022-12-310
Minimum required contributions for current year target normal cost2022-12-31800,000
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-310
Additional cash requirement2022-12-310
Contributions allocatedtoward minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
Total participants, beginning-of-year2022-01-014,354
Total number of active participants reported on line 7a of the Form 55002022-01-01654
Number of retired or separated participants receiving benefits2022-01-011,991
Number of other retired or separated participants entitled to future benefits2022-01-011,280
Total of all active and inactive participants2022-01-013,925
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-01256
Total participants2022-01-014,181
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: THE BAUSCH & LOMB RETIREMENT BENEFITS PLAN 2021 401k membership
Market value of plan assets2021-12-31230,814,218
Acturial value of plan assets2021-12-31208,943,501
Funding target for retired participants and beneficiaries receiving payment2021-12-3199,239,765
Number of terminated vested participants2021-12-311,472
Fundng target for terminated vested participants2021-12-3158,506,026
Active participant vested funding target2021-12-3128,605,010
Number of active participants2021-12-31808
Total funding liabilities for active participants2021-12-3128,928,553
Total participant count2021-12-314,570
Total funding target for all participants2021-12-31186,674,344
Prefunding balance at beginning of prior year after applicable adjustments2021-12-31222,842
Prefunding balanced used to offset prior years funding requirement2021-12-310
Amount remaining of carryover balance2021-12-310
Amount remaining of prefunding balance2021-12-31222,842
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-310
Balance of carryovers at beginning of current year2021-12-310
Balance of prefunding at beginning of current year2021-12-31254,352
Total employer contributions2021-12-310
Total employee contributions2021-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2021-12-310
Contributions made to avoid restrictions adjusted to valuation date2021-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-12-310
Unpaid minimum required contributions for all prior years2021-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-12-310
Remaining amount of unpaid minimum required contributions2021-12-310
Minimum required contributions for current year target normal cost2021-12-31800,000
Total funding amount beforereflecting carryover/prefunding balances2021-12-310
Additional cash requirement2021-12-310
Contributions allocatedtoward minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
Total participants, beginning-of-year2021-01-014,531
Total number of active participants reported on line 7a of the Form 55002021-01-01726
Number of retired or separated participants receiving benefits2021-01-012,003
Number of other retired or separated participants entitled to future benefits2021-01-011,369
Total of all active and inactive participants2021-01-014,098
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-01256
Total participants2021-01-014,354
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010

Financial Data on THE BAUSCH & LOMB RETIREMENT BENEFITS PLAN

Measure Date Value
2022 : THE BAUSCH & LOMB RETIREMENT BENEFITS PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total income from all sources (including contributions)2022-12-31$-44,054,659
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$18,039,802
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$17,380,776
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$0
Value of total assets at end of year2022-12-31$161,927,181
Value of total assets at beginning of year2022-12-31$224,021,642
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$659,026
Total interest from all sources2022-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$10,000,000
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Value of other receiveables (less allowance for doubtful accounts) at end of year2022-12-31$1,976
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2022-12-31$1
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-62,094,461
Value of net assets at end of year (total assets less liabilities)2022-12-31$161,927,181
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$224,021,642
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Investment advisory and management fees2022-12-31$383,157
Value of interest in common/collective trusts at end of year2022-12-31$161,925,205
Value of interest in common/collective trusts at beginning of year2022-12-31$224,021,641
Net investment gain or loss from common/collective trusts2022-12-31$-44,054,659
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31Yes
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Employer contributions (assets) at end of year2022-12-31$0
Employer contributions (assets) at beginning of year2022-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$17,380,776
Contract administrator fees2022-12-31$275,869
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31INSERO & CO. CPAS, LLP
Accountancy firm EIN2022-12-31475324570
2021 : THE BAUSCH & LOMB RETIREMENT BENEFITS PLAN 2021 401k financial data
Total unrealized appreciation/depreciation of assets2021-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total income from all sources (including contributions)2021-12-31$9,332,382
Total loss/gain on sale of assets2021-12-31$0
Total of all expenses incurred2021-12-31$16,124,958
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$15,222,249
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$0
Value of total assets at end of year2021-12-31$224,021,642
Value of total assets at beginning of year2021-12-31$230,814,218
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$902,709
Total interest from all sources2021-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$10,000,000
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Value of other receiveables (less allowance for doubtful accounts) at end of year2021-12-31$1
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2021-12-31$13
Administrative expenses (other) incurred2021-12-31$576,203
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$-6,792,576
Value of net assets at end of year (total assets less liabilities)2021-12-31$224,021,642
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$230,814,218
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2021-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2021-12-31No
Were any leases to which the plan was party in default or uncollectible2021-12-31No
Value of interest in common/collective trusts at end of year2021-12-31$224,021,641
Value of interest in common/collective trusts at beginning of year2021-12-31$230,814,205
Net investment gain or loss from common/collective trusts2021-12-31$9,332,382
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-12-31Yes
Was there a failure to transmit to the plan any participant contributions2021-12-31No
Has the plan failed to provide any benefit when due under the plan2021-12-31No
Employer contributions (assets) at end of year2021-12-31$0
Employer contributions (assets) at beginning of year2021-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$15,222,249
Contract administrator fees2021-12-31$326,506
Did the plan have assets held for investment2021-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2021-12-31No
Opinion of an independent qualified public accountant for this plan2021-12-31Unqualified
Accountancy firm name2021-12-31INSERO & CO. CPAS, LLP
Accountancy firm EIN2021-12-31475324570

Form 5500 Responses for THE BAUSCH & LOMB RETIREMENT BENEFITS PLAN

2022: THE BAUSCH & LOMB RETIREMENT BENEFITS PLAN 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
2021: THE BAUSCH & LOMB RETIREMENT BENEFITS PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedNo
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes

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