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SADOWSKY GUITARS, LTD. DEFINED BENEFIT PLAN 401k Plan overview

Plan NameSADOWSKY GUITARS, LTD. DEFINED BENEFIT PLAN
Plan identification number 001

SADOWSKY GUITARS, LTD. DEFINED BENEFIT PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
  • Plan covered by PBGC that was terminated and closed out for PBGC purposes - Before the end of the plan year (or a prior plan year), (1) the plan terminated in a standard (or distress) termination and completed the distribution of plan assets in satisfaction of all benefit liabilities (or all ERISA Title IV benefits for distress termination); or (2) a trustee was appointed for a terminated plan pursuant to ERISA section 4042.
  • 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).
  • 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.
  • Life insurance

401k Sponsoring company profile

SADOWSKY GUITARS, LTD. has sponsored the creation of one or more 401k plans.

Company Name:SADOWSKY GUITARS, LTD.
Employer identification number (EIN):133037774
NAIC Classification:451140
NAIC Description:Musical Instrument and Supplies Stores

Additional information about SADOWSKY GUITARS, LTD.

Jurisdiction of Incorporation: New York Department of State
Incorporation Date: 1980-07-18
Company Identification Number: 639969
Legal Registered Office Address: 1600 BROADWAY #1000
New York
NEW YORK
United States of America (USA)
100197413

More information about SADOWSKY GUITARS, LTD.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SADOWSKY GUITARS, LTD. DEFINED BENEFIT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012018-01-01
0012017-01-01
0012016-01-01
0012015-01-01
0012014-01-01
0012013-01-01
0012012-01-01ROGER SADOWSKY2013-05-09 ROGER SADOWSKY2013-05-09
0012011-01-01ROGER SADOWSKY2012-05-11 ROGER SADOWSKY2012-05-11
0012010-01-01ROGER SADOWSKY ROGER SADOWSKY2011-06-29
0012009-07-01ROGER SADOWSKY

Plan Statistics for SADOWSKY GUITARS, LTD. DEFINED BENEFIT PLAN

401k plan membership statisitcs for SADOWSKY GUITARS, LTD. DEFINED BENEFIT PLAN

Measure Date Value
2018: SADOWSKY GUITARS, LTD. DEFINED BENEFIT PLAN 2018 401k membership
Market value of plan assets2018-07-19962,572
Acturial value of plan assets2018-07-19962,572
Funding target for retired participants and beneficiaries receiving payment2018-07-190
Number of terminated vested participants2018-07-191
Fundng target for terminated vested participants2018-07-19207
Active participant vested funding target2018-07-19769,906
Number of active participants2018-07-1912
Total funding liabilities for active participants2018-07-19769,906
Total participant count2018-07-1913
Total funding target for all participants2018-07-19770,113
Balance at beginning of prior year after applicable adjustments2018-07-190
Prefunding balance at beginning of prior year after applicable adjustments2018-07-1960,683
Carryover balanced portion elected for use to offset prior years funding requirement2018-07-190
Prefunding balanced used to offset prior years funding requirement2018-07-1935,717
Amount remaining of carryover balance2018-07-190
Amount remaining of prefunding balance2018-07-1924,966
Present value of excess contributions2018-07-190
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-07-190
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-07-190
Reductions in caryover balances due to elections or deemed elections2018-07-190
Reductions in prefunding balances due to elections or deemed elections2018-07-190
Balance of carryovers at beginning of current year2018-07-190
Balance of prefunding at beginning of current year2018-07-1926,112
Total employer contributions2018-07-190
Total employee contributions2018-07-190
Contributions allocated toward unpaid minimum require contributions from prior years2018-07-190
Contributions made to avoid restrictions adjusted to valuation date2018-07-190
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-07-190
Liquidity shortfalls end of Q12018-07-190
Liquidity shortfalls end of Q22018-07-190
Liquidity shortfalls end of Q32018-07-190
Liquidity shortfalls end of Q42018-07-190
Unpaid minimum required contributions for all prior years2018-07-190
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-07-190
Remaining amount of unpaid minimum required contributions2018-07-190
Minimum required contributions for current year target normal cost2018-07-193,947
Net shortfall amortization installment of oustanding balance2018-07-190
Waiver amortization installment2018-07-190
Total funding amount beforereflecting carryover/prefunding balances2018-07-190
Carryover balance elected to use to offset funding requirement2018-07-190
Prefunding balance elected to use to offset funding requirement2018-07-190
Additional cash requirement2018-07-190
Contributions allocatedtoward minimum required contributions for current year2018-07-190
Unpaid minimum required contributions for current year2018-07-190
Unpaid minimum required contributions for all years2018-07-190
2017: SADOWSKY GUITARS, LTD. DEFINED BENEFIT PLAN 2017 401k membership
Market value of plan assets2017-12-31947,535
Acturial value of plan assets2017-12-31947,535
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-313
Fundng target for terminated vested participants2017-12-311,725
Active participant vested funding target2017-12-31968,086
Number of active participants2017-12-319
Total funding liabilities for active participants2017-12-31972,396
Total participant count2017-12-3112
Total funding target for all participants2017-12-31974,121
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-3142,416
Carryover balanced portion elected for use to offset prior years funding requirement2017-12-310
Prefunding balanced used to offset prior years funding requirement2017-12-310
Amount remaining of carryover balance2017-12-310
Amount remaining of prefunding balance2017-12-3142,416
Present value of excess contributions2017-12-3124,497
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3126,111
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-12-3126,111
Reductions in caryover balances due to elections or deemed elections2017-12-310
Reductions in prefunding balances due to elections or deemed elections2017-12-317,242
Balance of carryovers at beginning of current year2017-12-310
Balance of prefunding at beginning of current year2017-12-3160,683
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 cost2017-12-3112,711
Net shortfall amortization installment of oustanding balance2017-12-3187,269
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-3134,395
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-3134,395
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
2016: SADOWSKY GUITARS, LTD. DEFINED BENEFIT PLAN 2016 401k membership
Market value of plan assets2016-12-31835,886
Acturial value of plan assets2016-12-31835,886
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-311
Fundng target for terminated vested participants2016-12-31154
Active participant vested funding target2016-12-31883,338
Number of active participants2016-12-3112
Total funding liabilities for active participants2016-12-31887,775
Total participant count2016-12-3113
Total funding target for all participants2016-12-31887,929
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-3156,722
Carryover balanced portion elected for use to offset prior years funding requirement2016-12-310
Prefunding balanced used to offset prior years funding requirement2016-12-310
Amount remaining of carryover balance2016-12-310
Amount remaining of prefunding balance2016-12-3156,722
Present value of excess contributions2016-12-3118,346
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-3119,531
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 elections2016-12-3113,886
Balance of carryovers at beginning of current year2016-12-310
Balance of prefunding at beginning of current year2016-12-3142,416
Total employer contributions2016-12-3166,000
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 date2016-12-3163,370
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 cost2016-12-318,578
Net shortfall amortization installment of oustanding balance2016-12-3194,459
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-3138,873
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-3138,873
Contributions allocatedtoward minimum required contributions for current year2016-12-3163,370
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310
2010: SADOWSKY GUITARS, LTD. DEFINED BENEFIT PLAN 2010 401k membership
Total participants, beginning-of-year2010-01-0112
Total number of active participants reported on line 7a of the Form 55002010-01-0110
Number of retired or separated participants receiving benefits2010-01-010
Number of other retired or separated participants entitled to future benefits2010-01-010
Total of all active and inactive participants2010-01-0110
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-010
Total participants2010-01-0110
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-010
2009: SADOWSKY GUITARS, LTD. DEFINED BENEFIT PLAN 2009 401k membership
Total participants, beginning-of-year2009-07-0111
Total number of active participants reported on line 7a of the Form 55002009-07-019
Number of other retired or separated participants entitled to future benefits2009-07-010
Total of all active and inactive participants2009-07-019
Total participants2009-07-019
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-07-011

Financial Data on SADOWSKY GUITARS, LTD. DEFINED BENEFIT PLAN

Measure Date Value
2010 : SADOWSKY GUITARS, LTD. DEFINED BENEFIT PLAN 2010 401k financial data
Transfers to/from the plan2010-12-31$0
Total plan liabilities at end of year2010-12-31$0
Total plan liabilities at beginning of year2010-12-31$0
Total income from all sources2010-12-31$88,912
Expenses. Total of all expenses incurred2010-12-31$0
Benefits paid (including direct rollovers)2010-12-31$0
Total plan assets at end of year2010-12-31$612,176
Total plan assets at beginning of year2010-12-31$523,264
Value of fidelity bond covering the plan2010-12-31$150,000
Total contributions received or receivable from participants2010-12-31$0
Expenses. Other expenses not covered elsewhere2010-12-31$0
Contributions received from other sources (not participants or employers)2010-12-31$0
Other income received2010-12-31$28,912
Noncash contributions received2010-12-31$0
Net income (gross income less expenses)2010-12-31$88,912
Net plan assets at end of year (total assets less liabilities)2010-12-31$612,176
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$523,264
Total contributions received or receivable from employer(s)2010-12-31$60,000
Value of certain deemed distributions of participant loans2010-12-31$0
Value of corrective distributions2010-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-31$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
2009 : SADOWSKY GUITARS, LTD. DEFINED BENEFIT PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for SADOWSKY GUITARS, LTD. DEFINED BENEFIT PLAN

2010: SADOWSKY GUITARS, LTD. DEFINED BENEFIT PLAN 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedNo
2010-01-01This submission is the final filingNo
2010-01-01This return/report is a short plan year return/report (less than 12 months)No
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – InsuranceYes
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement – InsuranceYes
2010-01-01Plan benefit arrangement - TrustYes
2009: SADOWSKY GUITARS, LTD. DEFINED BENEFIT PLAN 2009 form 5500 responses
2009-07-01Type of plan entitySingle employer plan
2009-07-01Submission has been amendedNo
2009-07-01This submission is the final filingNo
2009-07-01This return/report is a short plan year return/report (less than 12 months)Yes
2009-07-01Plan is a collectively bargained planNo
2009-07-01Plan funding arrangement – InsuranceYes
2009-07-01Plan funding arrangement – TrustYes
2009-07-01Plan benefit arrangement – InsuranceYes
2009-07-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

EQUITABLE LIFE (National Association of Insurance Commissioners NAIC id number: 62944 )
Policy contract number575253
Policy instance 1
Insurance contract or identification number575253
Number of Individuals Covered1
Insurance policy start date2010-01-01
Insurance policy end date2010-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0

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