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CHEIL USA INC. RETIREMENT PLAN 401k Plan overview

Plan NameCHEIL USA INC. RETIREMENT PLAN
Plan identification number 002

CHEIL USA INC. RETIREMENT PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • 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

CHEIL USA INC. has sponsored the creation of one or more 401k plans.

Company Name:CHEIL USA INC.
Employer identification number (EIN):223154110
NAIC Classification:541800

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CHEIL USA INC. RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01
0022021-01-01

Plan Statistics for CHEIL USA INC. RETIREMENT PLAN

401k plan membership statisitcs for CHEIL USA INC. RETIREMENT PLAN

Measure Date Value
2022: CHEIL USA INC. RETIREMENT PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01394
Total number of active participants reported on line 7a of the Form 55002022-01-01604
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-01335
Total of all active and inactive participants2022-01-01939
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01939
Number of participants with account balances2022-01-01894
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-0150
2021: CHEIL USA INC. RETIREMENT PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-01227
Total number of active participants reported on line 7a of the Form 55002021-01-01295
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-0198
Total of all active and inactive participants2021-01-01393
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-01393
Number of participants with account balances2021-01-01393
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-018

Financial Data on CHEIL USA INC. RETIREMENT PLAN

Measure Date Value
2022 : CHEIL USA INC. RETIREMENT 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$0
Total income from all sources (including contributions)2022-12-31$-1,008,361
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$3,537,090
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$3,231,993
Value of total corrective distributions2022-12-31$2,214
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$6,436,239
Value of total assets at end of year2022-12-31$38,796,078
Value of total assets at beginning of year2022-12-31$43,341,529
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$302,883
Total interest from all sources2022-12-31$49,876
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$320,028
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2022-12-31$320,028
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$1,000,000
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$4,539,159
Participant contributions at end of year2022-12-31$136,532
Participant contributions at beginning of year2022-12-31$66,765
Assets. Other investments not covered elsewhere at end of year2022-12-31$4,112,069
Assets. Other investments not covered elsewhere at beginning of year2022-12-31$2,316,572
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$1,130,940
Value of other receiveables (less allowance for doubtful accounts) at end of year2022-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2022-12-31$14,326,920
Other income not declared elsewhere2022-12-31$177,675
Administrative expenses (other) incurred2022-12-31$350
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-4,545,451
Value of net assets at end of year (total assets less liabilities)2022-12-31$38,796,078
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$43,341,529
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$118,834
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-12-31$18,073,270
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$17,522,436
Value of interest in pooled separate accounts at end of year2022-12-31$5,651,260
Value of interest in pooled separate accounts at beginning of year2022-12-31$4,797,844
Interest on participant loans2022-12-31$5,770
Interest earned on other investments2022-12-31$43,976
Value of interest in common/collective trusts at end of year2022-12-31$10,822,947
Value of interest in common/collective trusts at beginning of year2022-12-31$4,254,796
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2022-12-31$130
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2022-12-31$0
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2022-12-31$56,196
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-5,347,135
Net investment gain/loss from pooled separate accounts2022-12-31$-1,695,079
Net investment gain or loss from common/collective trusts2022-12-31$-949,965
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
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
Contributions received in cash from employer2022-12-31$766,140
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$3,231,993
Contract administrator fees2022-12-31$183,699
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 name2022-12-31CLIFTONLARSONALLEN, LLP
Accountancy firm EIN2022-12-31410746749
2021 : CHEIL USA INC. RETIREMENT PLAN 2021 401k financial data
Total unrealized appreciation/depreciation of assets2021-12-31$0
Total transfer of assets to this plan2021-12-31$18,074,651
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$4,872,403
Total loss/gain on sale of assets2021-12-31$0
Total of all expenses incurred2021-12-31$3,907,497
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$3,690,108
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$1,649,038
Value of total assets at end of year2021-12-31$43,341,529
Value of total assets at beginning of year2021-12-31$24,301,972
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$217,389
Total interest from all sources2021-12-31$37,783
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$223,956
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2021-12-31$223,956
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$1,000,000
If this is an individual account plan, was there a blackout period2021-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Contributions received from participants2021-12-31$1,265,549
Participant contributions at end of year2021-12-31$66,765
Participant contributions at beginning of year2021-12-31$141,065
Assets. Other investments not covered elsewhere at end of year2021-12-31$2,316,572
Assets. Other investments not covered elsewhere at beginning of year2021-12-31$2,331,060
Income. Received or receivable in cash from other sources (including rollovers)2021-12-31$39,766
Value of other receiveables (less allowance for doubtful accounts) at end of year2021-12-31$14,326,920
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2021-12-31$0
Other income not declared elsewhere2021-12-31$87,117
Administrative expenses (other) incurred2021-12-31$217,389
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$964,906
Value of net assets at end of year (total assets less liabilities)2021-12-31$43,341,529
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$24,301,972
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 registered invesment companies (eg mutual funds) at end of year2021-12-31$17,522,436
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-12-31$12,673,815
Value of interest in pooled separate accounts at end of year2021-12-31$4,797,844
Value of interest in pooled separate accounts at beginning of year2021-12-31$4,897,425
Interest on participant loans2021-12-31$4,659
Interest earned on other investments2021-12-31$33,124
Value of interest in common/collective trusts at end of year2021-12-31$4,254,796
Value of interest in common/collective trusts at beginning of year2021-12-31$4,258,607
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2021-12-31$56,196
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2021-12-31$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-12-31$1,378,352
Net investment gain/loss from pooled separate accounts2021-12-31$626,847
Net investment gain or loss from common/collective trusts2021-12-31$869,310
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-12-31No
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
Contributions received in cash from employer2021-12-31$343,723
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$3,690,108
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 name2021-12-31BDO USA, LLP
Accountancy firm EIN2021-12-31135381590

Form 5500 Responses for CHEIL USA INC. RETIREMENT PLAN

2022: CHEIL USA INC. RETIREMENT 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 – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement - TrustYes
2021: CHEIL USA INC. RETIREMENT PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedYes
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 – InsuranceYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement – InsuranceYes
2021-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 93629 )
Policy contract number041082
Policy instance 1
Insurance contract or identification number041082
Number of Individuals Covered939
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Are there contracts with allocated funds for individual policies?0
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 93629 )
Policy contract number041082
Policy instance 1
Insurance contract or identification number041082
Number of Individuals Covered393
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Are there contracts with allocated funds for individual policies?0
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No

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