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W. S. KLEM CONTRACTOR, INC. CASH BALANCE PLAN 401k Plan overview

Plan NameW. S. KLEM CONTRACTOR, INC. CASH BALANCE PLAN
Plan identification number 002

W. S. KLEM CONTRACTOR, 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).
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
  • 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

W.S. KLEM CONTRACTOR, INC. has sponsored the creation of one or more 401k plans.

Company Name:W.S. KLEM CONTRACTOR, INC.
Employer identification number (EIN):954608002
NAIC Classification:238100

Form 5500 Filing Information

Submission information for form 5500 for 401k plan W. S. KLEM CONTRACTOR, INC. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022021-12-01WILLIAM KLEM2023-08-14
0022020-12-01WILLIAM KLEM2022-08-05
0022019-12-01WILLIAM KLEM2021-08-31
0022018-12-01WILLIAM KLEM2020-04-15
0022017-12-01WILLIAM KLEM2019-04-26
0022016-12-01WILLIAM KLEM2018-06-18
0022015-12-01WILLIAM KLEM2018-06-15
0022015-12-01WILLIAM KLEM2017-09-12
0022014-12-01WILLIAM KLEM2016-08-19
0022013-12-01WILLIAM KLEM2015-05-19
0022012-12-01WILLIAM KLEM2014-07-14
0022011-12-01WILLIAM KLEM2013-09-05
0022010-12-01WILLIAM KLEM2012-08-28
0022008-12-01

Plan Statistics for W. S. KLEM CONTRACTOR, INC. CASH BALANCE PLAN

401k plan membership statisitcs for W. S. KLEM CONTRACTOR, INC. CASH BALANCE PLAN

Measure Date Value
2022: W. S. KLEM CONTRACTOR, INC. CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-11-302,030,147
Acturial value of plan assets2022-11-302,030,147
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 target2022-11-301,761,776
Number of active participants2022-11-305
Total funding liabilities for active participants2022-11-301,761,776
Total participant count2022-11-305
Total funding target for all participants2022-11-301,761,776
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 contributions2022-11-3096,811
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-11-3096,811
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 contributions2022-11-30100,000
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 date2022-11-3096,642
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 cost2022-11-30126,427
Net shortfall amortization installment of oustanding balance2022-11-300
Waiver amortization installment2022-11-300
Total funding amount beforereflecting carryover/prefunding balances2022-11-300
Carryover balance elected to use to offset funding requirement2022-11-300
Prefunding balance elected to use to offset funding requirement2022-11-300
Additional cash requirement2022-11-300
Contributions allocatedtoward minimum required contributions for current year2022-11-3096,642
Unpaid minimum required contributions for current year2022-11-300
Unpaid minimum required contributions for all years2022-11-300
2021: W. S. KLEM CONTRACTOR, INC. CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-11-302,135,559
Acturial value of plan assets2021-11-302,135,559
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 target2021-11-301,594,069
Number of active participants2021-11-305
Total funding liabilities for active participants2021-11-301,594,069
Total participant count2021-11-305
Total funding target for all participants2021-11-301,594,069
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 contributions2021-11-30146,430
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-11-30146,430
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 contributions2021-11-30100,000
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 date2021-11-3096,811
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 cost2021-11-30122,695
Net shortfall amortization installment of oustanding balance2021-11-300
Waiver amortization installment2021-11-300
Total funding amount beforereflecting carryover/prefunding balances2021-11-300
Carryover balance elected to use to offset funding requirement2021-11-300
Prefunding balance elected to use to offset funding requirement2021-11-300
Additional cash requirement2021-11-300
Contributions allocatedtoward minimum required contributions for current year2021-11-3096,811
Unpaid minimum required contributions for current year2021-11-300
Unpaid minimum required contributions for all years2021-11-300
2020: W. S. KLEM CONTRACTOR, INC. CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-11-301,852,914
Acturial value of plan assets2020-11-301,852,914
Funding target for retired participants and beneficiaries receiving payment2020-11-300
Number of terminated vested participants2020-11-304
Fundng target for terminated vested participants2020-11-300
Active participant vested funding target2020-11-301,404,813
Number of active participants2020-11-304
Total funding liabilities for active participants2020-11-301,404,813
Total participant count2020-11-308
Total funding target for all participants2020-11-301,404,813
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 contributions2020-11-30147,487
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-11-30147,487
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 contributions2020-11-30150,000
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 date2020-11-30146,430
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 cost2020-11-30116,948
Net shortfall amortization installment of oustanding balance2020-11-300
Waiver amortization installment2020-11-300
Total funding amount beforereflecting carryover/prefunding balances2020-11-300
Carryover balance elected to use to offset funding requirement2020-11-300
Prefunding balance elected to use to offset funding requirement2020-11-300
Additional cash requirement2020-11-300
Contributions allocatedtoward minimum required contributions for current year2020-11-30146,430
Unpaid minimum required contributions for current year2020-11-300
Unpaid minimum required contributions for all years2020-11-300
2019: W. S. KLEM CONTRACTOR, INC. CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-11-301,544,572
Acturial value of plan assets2019-11-301,544,572
Funding target for retired participants and beneficiaries receiving payment2019-11-300
Number of terminated vested participants2019-11-300
Fundng target for terminated vested participants2019-11-300
Active participant vested funding target2019-11-301,390,509
Number of active participants2019-11-304
Total funding liabilities for active participants2019-11-301,390,509
Total participant count2019-11-304
Total funding target for all participants2019-11-301,390,509
Balance at beginning of prior year after applicable adjustments2019-11-300
Prefunding balance at beginning of prior year after applicable adjustments2019-11-300
Carryover balanced portion elected for use to offset prior years funding requirement2019-11-300
Prefunding balanced used to offset prior years funding requirement2019-11-300
Amount remaining of carryover balance2019-11-300
Amount remaining of prefunding balance2019-11-300
Present value of excess contributions2019-11-30171,151
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-11-30171,151
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-11-300
Reductions in caryover balances due to elections or deemed elections2019-11-300
Reductions in prefunding balances due to elections or deemed elections2019-11-300
Balance of carryovers at beginning of current year2019-11-300
Balance of prefunding at beginning of current year2019-11-300
Total employer contributions2019-11-30150,000
Total employee contributions2019-11-300
Contributions allocated toward unpaid minimum require contributions from prior years2019-11-300
Contributions made to avoid restrictions adjusted to valuation date2019-11-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-11-30147,487
Unpaid minimum required contributions for all prior years2019-11-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-11-300
Remaining amount of unpaid minimum required contributions2019-11-300
Minimum required contributions for current year target normal cost2019-11-3016,147
Net shortfall amortization installment of oustanding balance2019-11-300
Waiver amortization installment2019-11-300
Total funding amount beforereflecting carryover/prefunding balances2019-11-300
Additional cash requirement2019-11-300
Contributions allocatedtoward minimum required contributions for current year2019-11-30147,487
Unpaid minimum required contributions for current year2019-11-300
Unpaid minimum required contributions for all years2019-11-300
2018: W. S. KLEM CONTRACTOR, INC. CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-11-301,242,282
Acturial value of plan assets2018-11-301,242,282
Funding target for retired participants and beneficiaries receiving payment2018-11-300
Number of terminated vested participants2018-11-301
Active participant vested funding target2018-11-30996,483
Number of active participants2018-11-304
Total funding liabilities for active participants2018-11-30996,483
Total participant count2018-11-305
Total funding target for all participants2018-11-30996,483
Balance at beginning of prior year after applicable adjustments2018-11-300
Prefunding balance at beginning of prior year after applicable adjustments2018-11-300
Carryover balanced portion elected for use to offset prior years funding requirement2018-11-300
Prefunding balanced used to offset prior years funding requirement2018-11-300
Amount remaining of carryover balance2018-11-300
Amount remaining of prefunding balance2018-11-300
Present value of excess contributions2018-11-30193,921
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-11-30193,921
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-11-300
Reductions in caryover balances due to elections or deemed elections2018-11-300
Reductions in prefunding balances due to elections or deemed elections2018-11-300
Balance of carryovers at beginning of current year2018-11-300
Balance of prefunding at beginning of current year2018-11-300
Total employer contributions2018-11-30175,000
Total employee contributions2018-11-300
Contributions allocated toward unpaid minimum require contributions from prior years2018-11-300
Contributions made to avoid restrictions adjusted to valuation date2018-11-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-11-30171,151
Unpaid minimum required contributions for all prior years2018-11-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-11-300
Remaining amount of unpaid minimum required contributions2018-11-300
Minimum required contributions for current year target normal cost2018-11-3097,327
Net shortfall amortization installment of oustanding balance2018-11-300
Waiver amortization installment2018-11-300
Total funding amount beforereflecting carryover/prefunding balances2018-11-300
Additional cash requirement2018-11-300
Contributions allocatedtoward minimum required contributions for current year2018-11-30171,151
Unpaid minimum required contributions for current year2018-11-300
Unpaid minimum required contributions for all years2018-11-300
2017: W. S. KLEM CONTRACTOR, INC. CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-11-30993,989
Acturial value of plan assets2017-11-30993,989
Funding target for retired participants and beneficiaries receiving payment2017-11-300
Number of terminated vested participants2017-11-300
Fundng target for terminated vested participants2017-11-300
Active participant vested funding target2017-11-30810,889
Number of active participants2017-11-303
Total funding liabilities for active participants2017-11-30810,889
Total participant count2017-11-303
Total funding target for all participants2017-11-30810,889
Balance at beginning of prior year after applicable adjustments2017-11-300
Prefunding balance at beginning of prior year after applicable adjustments2017-11-300
Carryover balanced portion elected for use to offset prior years funding requirement2017-11-300
Prefunding balanced used to offset prior years funding requirement2017-11-300
Amount remaining of carryover balance2017-11-300
Amount remaining of prefunding balance2017-11-300
Present value of excess contributions2017-11-30186,540
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-11-30186,540
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-11-300
Reductions in caryover balances due to elections or deemed elections2017-11-300
Reductions in prefunding balances due to elections or deemed elections2017-11-300
Balance of carryovers at beginning of current year2017-11-300
Balance of prefunding at beginning of current year2017-11-300
Total employer contributions2017-11-30200,000
Total employee contributions2017-11-300
Contributions allocated toward unpaid minimum require contributions from prior years2017-11-300
Contributions made to avoid restrictions adjusted to valuation date2017-11-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-11-30193,921
Unpaid minimum required contributions for all prior years2017-11-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-11-300
Remaining amount of unpaid minimum required contributions2017-11-300
Minimum required contributions for current year target normal cost2017-11-30122,999
Net shortfall amortization installment of oustanding balance2017-11-300
Waiver amortization installment2017-11-300
Total funding amount beforereflecting carryover/prefunding balances2017-11-300
Additional cash requirement2017-11-300
Contributions allocatedtoward minimum required contributions for current year2017-11-30193,921
Unpaid minimum required contributions for current year2017-11-300
Unpaid minimum required contributions for all years2017-11-300

Form 5500 Responses for W. S. KLEM CONTRACTOR, INC. CASH BALANCE PLAN

2008: W. S. KLEM CONTRACTOR, INC. CASH BALANCE PLAN 2008 form 5500 responses
2008-12-01Type of plan entitySingle employer plan
2008-12-01Submission has been amendedNo
2008-12-01This submission is the final filingNo
2008-12-01This return/report is a short plan year return/report (less than 12 months)No
2008-12-01Plan is a collectively bargained planNo

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