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LYNCHBURG STEEL & SPECIALTY COMPANY 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameLYNCHBURG STEEL & SPECIALTY COMPANY 401(K) PROFIT SHARING PLAN
Plan identification number 001

LYNCHBURG STEEL & SPECIALTY COMPANY 401(K) PROFIT SHARING PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • 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.
  • 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.
  • 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

LYNCHBURG STEEL & SPECIALTY COMPANY has sponsored the creation of one or more 401k plans.

Company Name:LYNCHBURG STEEL & SPECIALTY COMPANY
Employer identification number (EIN):272200993
NAIC Classification:331110
NAIC Description:Iron and Steel Mills and Ferroalloy Manufacturing

Additional information about LYNCHBURG STEEL & SPECIALTY COMPANY

Jurisdiction of Incorporation: Virginia Secretary of State
Incorporation Date: 2010-03-24
Company Identification Number: 0721053
Legal Registered Office Address: 275 FRANCIS AVE

MONROE
United States of America (USA)
24574

More information about LYNCHBURG STEEL & SPECIALTY COMPANY

Form 5500 Filing Information

Submission information for form 5500 for 401k plan LYNCHBURG STEEL & SPECIALTY COMPANY 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012017-01-01DOUGLAS B ANDERSON2018-10-16
0012016-01-01DOUGLAS B ANDERSON2017-10-16
0012015-01-01DOUGLAS B ANDERSON2016-10-13
0012014-01-01DOUGLAS B ANDERSON2015-10-09
0012013-01-01DOUGLAS B ANDERSON
0012012-01-01DOUG ANDERSON
0012011-01-01TRAVIS ELLIOTT TRAVIS ELLIOTT2012-10-15

Plan Statistics for LYNCHBURG STEEL & SPECIALTY COMPANY 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for LYNCHBURG STEEL & SPECIALTY COMPANY 401(K) PROFIT SHARING PLAN

Measure Date Value
2013: LYNCHBURG STEEL & SPECIALTY COMPANY 401(K) PROFIT SHARING PLAN 2013 401k membership
Total participants, beginning-of-year2013-01-01132
Total number of active participants reported on line 7a of the Form 55002013-01-0150
Number of retired or separated participants receiving benefits2013-01-015
Number of other retired or separated participants entitled to future benefits2013-01-0130
Total of all active and inactive participants2013-01-0185
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-010
Total participants2013-01-0185
Number of participants with account balances2013-01-0185
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-0147
2012: LYNCHBURG STEEL & SPECIALTY COMPANY 401(K) PROFIT SHARING PLAN 2012 401k membership
Total participants, beginning-of-year2012-01-01133
Total number of active participants reported on line 7a of the Form 55002012-01-0180
Number of retired or separated participants receiving benefits2012-01-015
Number of other retired or separated participants entitled to future benefits2012-01-0146
Total of all active and inactive participants2012-01-01131
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-01-011
Total participants2012-01-01132
Number of participants with account balances2012-01-01132
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-011
2011: LYNCHBURG STEEL & SPECIALTY COMPANY 401(K) PROFIT SHARING PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-01136
Total number of active participants reported on line 7a of the Form 55002011-01-0185
Number of retired or separated participants receiving benefits2011-01-014
Number of other retired or separated participants entitled to future benefits2011-01-0143
Total of all active and inactive participants2011-01-01132
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-011
Total participants2011-01-01133
Number of participants with account balances2011-01-01134
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-011

Financial Data on LYNCHBURG STEEL & SPECIALTY COMPANY 401(K) PROFIT SHARING PLAN

Measure Date Value
2013 : LYNCHBURG STEEL & SPECIALTY COMPANY 401(K) PROFIT SHARING PLAN 2013 401k financial data
Total unrealized appreciation/depreciation of assets2013-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-31$24,036
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-31$0
Total income from all sources (including contributions)2013-12-31$847,639
Total loss/gain on sale of assets2013-12-31$0
Total of all expenses incurred2013-12-31$998,267
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2013-12-31$983,451
Total contributions o plan (from employers,participants, others, non cash contrinutions)2013-12-31$170,993
Value of total assets at end of year2013-12-31$4,372,342
Value of total assets at beginning of year2013-12-31$4,498,934
Total of administrative expenses incurred including professional, contract, advisory and management fees2013-12-31$14,816
Total interest from all sources2013-12-31$3,198
Total dividends received (eg from common stock, registered investment company shares)2013-12-31$17,538
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2013-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2013-12-31$17,538
Was this plan covered by a fidelity bond2013-12-31Yes
Value of fidelity bond cover2013-12-31$1,000,000
If this is an individual account plan, was there a blackout period2013-12-31Yes
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2013-12-31$0
Were there any nonexempt tranactions with any party-in-interest2013-12-31No
Contributions received from participants2013-12-31$139,367
Participant contributions at end of year2013-12-31$153,158
Participant contributions at beginning of year2013-12-31$210,342
Participant contributions at end of year2013-12-31$26,676
Participant contributions at beginning of year2013-12-31$11,274
Income. Received or receivable in cash from other sources (including rollovers)2013-12-31$31,626
Administrative expenses (other) incurred2013-12-31$14,816
Total non interest bearing cash at end of year2013-12-31$1,439
Total non interest bearing cash at beginning of year2013-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Value of net income/loss2013-12-31$-150,628
Value of net assets at end of year (total assets less liabilities)2013-12-31$4,348,306
Value of net assets at beginning of year (total assets less liabilities)2013-12-31$4,498,934
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2013-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2013-12-31No
Were any leases to which the plan was party in default or uncollectible2013-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2013-12-31$0
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2013-12-31$4,277,318
Value of interest in pooled separate accounts at end of year2013-12-31$4,191,069
Value of interest in pooled separate accounts at beginning of year2013-12-31$0
Interest on participant loans2013-12-31$3,198
Net investment gain/loss from registered investment companies (e.g. mutual funds)2013-12-31$579,971
Net investment gain/loss from pooled separate accounts2013-12-31$75,939
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2013-12-31No
Was there a failure to transmit to the plan any participant contributions2013-12-31Yes
Has the plan failed to provide any benefit when due under the plan2013-12-31No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2013-12-31$983,451
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32013-12-31Yes
Liabilities. Value of benefit claims payable at end of year2013-12-31$24,036
Liabilities. Value of benefit claims payable at beginning of year2013-12-31$0
Did the plan have assets held for investment2013-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2013-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2013-12-31Yes
Opinion of an independent qualified public accountant for this plan2013-12-31Disclaimer
Accountancy firm name2013-12-31BROWN, EDWARDS & COMPANY, L.L.P.
Accountancy firm EIN2013-12-31540504608
2012 : LYNCHBURG STEEL & SPECIALTY COMPANY 401(K) PROFIT SHARING PLAN 2012 401k financial data
Total income from all sources (including contributions)2012-12-31$588,345
Total of all expenses incurred2012-12-31$693,315
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2012-12-31$692,265
Total contributions o plan (from employers,participants, others, non cash contrinutions)2012-12-31$173,323
Value of total assets at end of year2012-12-31$4,498,934
Value of total assets at beginning of year2012-12-31$4,603,904
Total of administrative expenses incurred including professional, contract, advisory and management fees2012-12-31$1,050
Total interest from all sources2012-12-31$5,684
Total dividends received (eg from common stock, registered investment company shares)2012-12-31$40,559
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2012-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2012-12-31$40,559
Was this plan covered by a fidelity bond2012-12-31Yes
Value of fidelity bond cover2012-12-31$1,000,000
If this is an individual account plan, was there a blackout period2012-12-31No
Were there any nonexempt tranactions with any party-in-interest2012-12-31No
Contributions received from participants2012-12-31$172,902
Participant contributions at end of year2012-12-31$210,342
Participant contributions at beginning of year2012-12-31$266,464
Participant contributions at end of year2012-12-31$11,274
Participant contributions at beginning of year2012-12-31$18,045
Income. Received or receivable in cash from other sources (including rollovers)2012-12-31$421
Administrative expenses (other) incurred2012-12-31$1,050
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Value of net income/loss2012-12-31$-104,970
Value of net assets at end of year (total assets less liabilities)2012-12-31$4,498,934
Value of net assets at beginning of year (total assets less liabilities)2012-12-31$4,603,904
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2012-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2012-12-31No
Were any leases to which the plan was party in default or uncollectible2012-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2012-12-31$4,277,318
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2012-12-31$4,319,134
Interest on participant loans2012-12-31$5,684
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2012-12-31$261
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2012-12-31$261
Net investment gain/loss from registered investment companies (e.g. mutual funds)2012-12-31$368,779
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2012-12-31No
Was there a failure to transmit to the plan any participant contributions2012-12-31Yes
Has the plan failed to provide any benefit when due under the plan2012-12-31No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2012-12-31$692,265
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32012-12-31No
Did the plan have assets held for investment2012-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2012-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2012-12-31Yes
Opinion of an independent qualified public accountant for this plan2012-12-31Disclaimer
Accountancy firm name2012-12-31BROWN, EDWARDS & COMPANY, L.L.P.
Accountancy firm EIN2012-12-31540504608
2011 : LYNCHBURG STEEL & SPECIALTY COMPANY 401(K) PROFIT SHARING PLAN 2011 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2011-12-31$-102,328
Total unrealized appreciation/depreciation of assets2011-12-31$-102,328
Total income from all sources (including contributions)2011-12-31$146,296
Total of all expenses incurred2011-12-31$152,268
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2011-12-31$152,268
Total contributions o plan (from employers,participants, others, non cash contrinutions)2011-12-31$196,024
Value of total assets at end of year2011-12-31$4,603,904
Value of total assets at beginning of year2011-12-31$4,609,876
Total interest from all sources2011-12-31$6,968
Total dividends received (eg from common stock, registered investment company shares)2011-12-31$45,632
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2011-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2011-12-31$45,632
Was this plan covered by a fidelity bond2011-12-31Yes
Value of fidelity bond cover2011-12-31$1,000,000
If this is an individual account plan, was there a blackout period2011-12-31No
Were there any nonexempt tranactions with any party-in-interest2011-12-31No
Contributions received from participants2011-12-31$196,024
Participant contributions at end of year2011-12-31$266,464
Participant contributions at beginning of year2011-12-31$239,220
Participant contributions at end of year2011-12-31$18,045
Participant contributions at beginning of year2011-12-31$17,295
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Value of net income/loss2011-12-31$-5,972
Value of net assets at end of year (total assets less liabilities)2011-12-31$4,603,904
Value of net assets at beginning of year (total assets less liabilities)2011-12-31$4,609,876
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2011-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2011-12-31No
Were any leases to which the plan was party in default or uncollectible2011-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2011-12-31$4,319,134
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2011-12-31$4,353,361
Interest on participant loans2011-12-31$6,707
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2011-12-31$261
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2011-12-31$261
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2011-12-31No
Was there a failure to transmit to the plan any participant contributions2011-12-31Yes
Has the plan failed to provide any benefit when due under the plan2011-12-31No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2011-12-31$152,268
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32011-12-31No
Did the plan have assets held for investment2011-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2011-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2011-12-31Yes
Opinion of an independent qualified public accountant for this plan2011-12-31Disclaimer
Accountancy firm name2011-12-31BROWN, EDWARDS & COMPANY, L.L.P.
Accountancy firm EIN2011-12-31540504608

Form 5500 Responses for LYNCHBURG STEEL & SPECIALTY COMPANY 401(K) PROFIT SHARING PLAN

2013: LYNCHBURG STEEL & SPECIALTY COMPANY 401(K) PROFIT SHARING PLAN 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Submission has been amendedNo
2013-01-01This submission is the final filingNo
2013-01-01This return/report is a short plan year return/report (less than 12 months)No
2013-01-01Plan is a collectively bargained planNo
2013-01-01Plan funding arrangement – InsuranceYes
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement – InsuranceYes
2013-01-01Plan benefit arrangement - TrustYes
2012: LYNCHBURG STEEL & SPECIALTY COMPANY 401(K) PROFIT SHARING PLAN 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement - TrustYes
2011: LYNCHBURG STEEL & SPECIALTY COMPANY 401(K) PROFIT SHARING PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number112022
Policy instance 1
Insurance contract or identification number112022
Number of Individuals Covered136
Insurance policy start date2013-11-15
Insurance policy end date2013-12-31
Total amount of commissions paid to insurance brokerUSD $43,028
Total amount of fees paid to insurance companyUSD $6,795
Are there contracts with allocated funds for individual policies?No
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?No
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
Commission paid to Insurance BrokerUSD $43,028
Insurance broker organization code?4
Amount paid for insurance broker fees6795
Additional information about fees paid to insurance brokerTPA FEES
Insurance broker nameEMPLOYEE BENEFITS SERVICES

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