401k Plan data: GLOBAL LABOR SOLUTIONS, LLC PENSION PLAN plan

GLOBAL LABOR SOLUTIONS, LLC PENSION PLAN 401k Plan overview

Plan Name	GLOBAL LABOR SOLUTIONS, LLC PENSION PLAN
Plan identification number	001

GLOBAL LABOR SOLUTIONS, LLC PENSION PLAN Benefits

401k Plan Type

Defined Benefit Pension

Plan Features/Benefits

Benefits are primarily pay related
Floor-offset plan - Plan benefits are subject to offset for retirement benefits provided by an employer-sponsored defined contribution plan.
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

GLOBAL LABOR SOLUTIONS, LLC has sponsored the creation of one or more 401k plans.

Company Name: GLOBAL LABOR SOLUTIONS, LLC

Employer identification number (EIN): 465421786

NAIC Classification: 541600

Additional information about GLOBAL LABOR SOLUTIONS, LLC

Jurisdiction of Incorporation: Georgia Department of States Corporations Division

Incorporation Date:

Company Identification Number: 1925951

More information about GLOBAL LABOR SOLUTIONS, LLC

Form 5500 Filing Information

Submission information for form 5500 for 401k plan GLOBAL LABOR SOLUTIONS, LLC PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
001 2018-01-01 BUMSUNG CHUNG 2019-07-15 BUMSUNG CHUNG 2019-07-15
001 2017-01-01 BUMSUNG CHUNG 2018-07-17 BUMSUNG CHUNG 2018-07-17
001 2016-01-01 BUMSUNG CHUNG 2017-06-07 BUMSUNG CHUNG 2017-06-07

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed	Name of Company Sponsor	Date Sponsor Signed
001	2018-01-01	BUMSUNG CHUNG	2019-07-15	BUMSUNG CHUNG	2019-07-15
001	2017-01-01	BUMSUNG CHUNG	2018-07-17	BUMSUNG CHUNG	2018-07-17
001	2016-01-01	BUMSUNG CHUNG	2017-06-07	BUMSUNG CHUNG	2017-06-07

Plan Statistics for GLOBAL LABOR SOLUTIONS, LLC PENSION PLAN

401k plan membership statisitcs for GLOBAL LABOR SOLUTIONS, LLC PENSION PLAN

Measure Date Value
2018: GLOBAL LABOR SOLUTIONS, LLC PENSION PLAN 2018 401k membership
Market value of plan assets 2018-12-31 79,809
Acturial value of plan assets 2018-12-31 79,809
Funding target for retired participants and beneficiaries receiving payment 2018-12-31 0
Number of terminated vested participants 2018-12-31 0
Fundng target for terminated vested participants 2018-12-31 0
Active participant vested funding target 2018-12-31 26,514
Number of active participants 2018-12-31 9
Total funding liabilities for active participants 2018-12-31 66,287
Total participant count 2018-12-31 9
Total funding target for all participants 2018-12-31 66,287
Balance at beginning of prior year after applicable adjustments 2018-12-31 0
Prefunding balance at beginning of prior year after applicable adjustments 2018-12-31 39,238
Carryover balanced portion elected for use to offset prior years funding requirement 2018-12-31 0
Prefunding balanced used to offset prior years funding requirement 2018-12-31 0
Amount remaining of carryover balance 2018-12-31 0
Amount remaining of prefunding balance 2018-12-31 39,238
Present value of excess contributions 2018-12-31 167
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2018-12-31 167
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2018-12-31 167
Reductions in caryover balances due to elections or deemed elections 2018-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2018-12-31 0
Balance of carryovers at beginning of current year 2018-12-31 0
Balance of prefunding at beginning of current year 2018-12-31 47,986
Total employer contributions 2018-12-31 60,000
Total employee contributions 2018-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2018-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2018-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2018-12-31 58,381
Liquidity shortfalls end of Q1 2018-12-31 0
Liquidity shortfalls end of Q2 2018-12-31 0
Liquidity shortfalls end of Q3 2018-12-31 0
Liquidity shortfalls end of Q4 2018-12-31 0
Unpaid minimum required contributions for all prior years 2018-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2018-12-31 0
Remaining amount of unpaid minimum required contributions 2018-12-31 0
Minimum required contributions for current year target normal cost 2018-12-31 46,350
Net shortfall amortization installment of oustanding balance 2018-12-31 37,482
Waiver amortization installment 2018-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2018-12-31 52,970
Additional cash requirement 2018-12-31 52,970
Contributions allocatedtoward minimum required contributions for current year 2018-12-31 58,381
Unpaid minimum required contributions for current year 2018-12-31 0
Unpaid minimum required contributions for all years 2018-12-31 0
2017: GLOBAL LABOR SOLUTIONS, LLC PENSION PLAN 2017 401k membership
Market value of plan assets 2017-12-31 59,908
Acturial value of plan assets 2017-12-31 59,908
Funding target for retired participants and beneficiaries receiving payment 2017-12-31 0
Number of terminated vested participants 2017-12-31 0
Fundng target for terminated vested participants 2017-12-31 0
Active participant vested funding target 2017-12-31 8,781
Number of active participants 2017-12-31 10
Total funding liabilities for active participants 2017-12-31 43,906
Total participant count 2017-12-31 10
Total funding target for all participants 2017-12-31 43,906
Balance at beginning of prior year after applicable adjustments 2017-12-31 0
Prefunding balance at beginning of prior year after applicable adjustments 2017-12-31 0
Carryover balanced portion elected for use to offset prior years funding requirement 2017-12-31 0
Prefunding balanced used to offset prior years funding requirement 2017-12-31 0
Amount remaining of carryover balance 2017-12-31 0
Amount remaining of prefunding balance 2017-12-31 0
Present value of excess contributions 2017-12-31 39,238
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2017-12-31 39,238
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2017-12-31 39,238
Reductions in caryover balances due to elections or deemed elections 2017-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2017-12-31 0
Balance of carryovers at beginning of current year 2017-12-31 0
Balance of prefunding at beginning of current year 2017-12-31 39,238
Total employer contributions 2017-12-31 51,010
Total employee contributions 2017-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2017-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2017-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2017-12-31 50,274
Unpaid minimum required contributions for all prior years 2017-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2017-12-31 0
Remaining amount of unpaid minimum required contributions 2017-12-31 0
Minimum required contributions for current year target normal cost 2017-12-31 45,874
Net shortfall amortization installment of oustanding balance 2017-12-31 25,779
Waiver amortization installment 2017-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2017-12-31 50,107
Additional cash requirement 2017-12-31 50,107
Contributions allocatedtoward minimum required contributions for current year 2017-12-31 50,274
Unpaid minimum required contributions for current year 2017-12-31 0
Unpaid minimum required contributions for all years 2017-12-31 0
2016: GLOBAL LABOR SOLUTIONS, LLC PENSION PLAN 2016 401k membership
Market value of plan assets 2016-12-31 0
Acturial value of plan assets 2016-12-31 0
Funding target for retired participants and beneficiaries receiving payment 2016-12-31 0
Number of terminated vested participants 2016-12-31 0
Fundng target for terminated vested participants 2016-12-31 0
Active participant vested funding target 2016-12-31 0
Number of active participants 2016-12-31 16
Total funding liabilities for active participants 2016-12-31 0
Total participant count 2016-12-31 16
Total funding target for all participants 2016-12-31 0
Balance at beginning of prior year after applicable adjustments 2016-12-31 0
Prefunding balance at beginning of prior year after applicable adjustments 2016-12-31 0
Carryover balanced portion elected for use to offset prior years funding requirement 2016-12-31 0
Prefunding balanced used to offset prior years funding requirement 2016-12-31 0
Amount remaining of carryover balance 2016-12-31 0
Amount remaining of prefunding balance 2016-12-31 0
Present value of excess contributions 2016-12-31 0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2016-12-31 0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2016-12-31 0
Reductions in caryover balances due to elections or deemed elections 2016-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2016-12-31 0
Balance of carryovers at beginning of current year 2016-12-31 0
Balance of prefunding at beginning of current year 2016-12-31 0
Total employer contributions 2016-12-31 84,000
Total employee contributions 2016-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2016-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2016-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2016-12-31 83,035
Unpaid minimum required contributions for all prior years 2016-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2016-12-31 0
Remaining amount of unpaid minimum required contributions 2016-12-31 0
Minimum required contributions for current year target normal cost 2016-12-31 43,797
Net shortfall amortization installment of oustanding balance 2016-12-31 0
Waiver amortization installment 2016-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2016-12-31 43,797
Additional cash requirement 2016-12-31 43,797
Contributions allocatedtoward minimum required contributions for current year 2016-12-31 83,035
Unpaid minimum required contributions for current year 2016-12-31 0
Unpaid minimum required contributions for all years 2016-12-31 0

Measure	Date	Value
2018: GLOBAL LABOR SOLUTIONS, LLC PENSION PLAN 2018 401k membership
Market value of plan assets	2018-12-31	79,809
Acturial value of plan assets	2018-12-31	79,809
Funding target for retired participants and beneficiaries receiving payment	2018-12-31	0
Number of terminated vested participants	2018-12-31	0
Fundng target for terminated vested participants	2018-12-31	0
Active participant vested funding target	2018-12-31	26,514
Number of active participants	2018-12-31	9
Total funding liabilities for active participants	2018-12-31	66,287
Total participant count	2018-12-31	9
Total funding target for all participants	2018-12-31	66,287
Balance at beginning of prior year after applicable adjustments	2018-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2018-12-31	39,238
Carryover balanced portion elected for use to offset prior years funding requirement	2018-12-31	0
Prefunding balanced used to offset prior years funding requirement	2018-12-31	0
Amount remaining of carryover balance	2018-12-31	0
Amount remaining of prefunding balance	2018-12-31	39,238
Present value of excess contributions	2018-12-31	167
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2018-12-31	167
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2018-12-31	167
Reductions in caryover balances due to elections or deemed elections	2018-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2018-12-31	0
Balance of carryovers at beginning of current year	2018-12-31	0
Balance of prefunding at beginning of current year	2018-12-31	47,986
Total employer contributions	2018-12-31	60,000
Total employee contributions	2018-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2018-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2018-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2018-12-31	58,381
Liquidity shortfalls end of Q1	2018-12-31	0
Liquidity shortfalls end of Q2	2018-12-31	0
Liquidity shortfalls end of Q3	2018-12-31	0
Liquidity shortfalls end of Q4	2018-12-31	0
Unpaid minimum required contributions for all prior years	2018-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2018-12-31	0
Remaining amount of unpaid minimum required contributions	2018-12-31	0
Minimum required contributions for current year target normal cost	2018-12-31	46,350
Net shortfall amortization installment of oustanding balance	2018-12-31	37,482
Waiver amortization installment	2018-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2018-12-31	52,970
Additional cash requirement	2018-12-31	52,970
Contributions allocatedtoward minimum required contributions for current year	2018-12-31	58,381
Unpaid minimum required contributions for current year	2018-12-31	0
Unpaid minimum required contributions for all years	2018-12-31	0
2017: GLOBAL LABOR SOLUTIONS, LLC PENSION PLAN 2017 401k membership
Market value of plan assets	2017-12-31	59,908
Acturial value of plan assets	2017-12-31	59,908
Funding target for retired participants and beneficiaries receiving payment	2017-12-31	0
Number of terminated vested participants	2017-12-31	0
Fundng target for terminated vested participants	2017-12-31	0
Active participant vested funding target	2017-12-31	8,781
Number of active participants	2017-12-31	10
Total funding liabilities for active participants	2017-12-31	43,906
Total participant count	2017-12-31	10
Total funding target for all participants	2017-12-31	43,906
Balance at beginning of prior year after applicable adjustments	2017-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2017-12-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2017-12-31	0
Prefunding balanced used to offset prior years funding requirement	2017-12-31	0
Amount remaining of carryover balance	2017-12-31	0
Amount remaining of prefunding balance	2017-12-31	0
Present value of excess contributions	2017-12-31	39,238
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2017-12-31	39,238
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2017-12-31	39,238
Reductions in caryover balances due to elections or deemed elections	2017-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2017-12-31	0
Balance of carryovers at beginning of current year	2017-12-31	0
Balance of prefunding at beginning of current year	2017-12-31	39,238
Total employer contributions	2017-12-31	51,010
Total employee contributions	2017-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2017-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2017-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2017-12-31	50,274
Unpaid minimum required contributions for all prior years	2017-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2017-12-31	0
Remaining amount of unpaid minimum required contributions	2017-12-31	0
Minimum required contributions for current year target normal cost	2017-12-31	45,874
Net shortfall amortization installment of oustanding balance	2017-12-31	25,779
Waiver amortization installment	2017-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2017-12-31	50,107
Additional cash requirement	2017-12-31	50,107
Contributions allocatedtoward minimum required contributions for current year	2017-12-31	50,274
Unpaid minimum required contributions for current year	2017-12-31	0
Unpaid minimum required contributions for all years	2017-12-31	0
2016: GLOBAL LABOR SOLUTIONS, LLC PENSION PLAN 2016 401k membership
Market value of plan assets	2016-12-31	0
Acturial value of plan assets	2016-12-31	0
Funding target for retired participants and beneficiaries receiving payment	2016-12-31	0
Number of terminated vested participants	2016-12-31	0
Fundng target for terminated vested participants	2016-12-31	0
Active participant vested funding target	2016-12-31	0
Number of active participants	2016-12-31	16
Total funding liabilities for active participants	2016-12-31	0
Total participant count	2016-12-31	16
Total funding target for all participants	2016-12-31	0
Balance at beginning of prior year after applicable adjustments	2016-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2016-12-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2016-12-31	0
Prefunding balanced used to offset prior years funding requirement	2016-12-31	0
Amount remaining of carryover balance	2016-12-31	0
Amount remaining of prefunding balance	2016-12-31	0
Present value of excess contributions	2016-12-31	0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2016-12-31	0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2016-12-31	0
Reductions in caryover balances due to elections or deemed elections	2016-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2016-12-31	0
Balance of carryovers at beginning of current year	2016-12-31	0
Balance of prefunding at beginning of current year	2016-12-31	0
Total employer contributions	2016-12-31	84,000
Total employee contributions	2016-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2016-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2016-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2016-12-31	83,035
Unpaid minimum required contributions for all prior years	2016-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2016-12-31	0
Remaining amount of unpaid minimum required contributions	2016-12-31	0
Minimum required contributions for current year target normal cost	2016-12-31	43,797
Net shortfall amortization installment of oustanding balance	2016-12-31	0
Waiver amortization installment	2016-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2016-12-31	43,797
Additional cash requirement	2016-12-31	43,797
Contributions allocatedtoward minimum required contributions for current year	2016-12-31	83,035
Unpaid minimum required contributions for current year	2016-12-31	0
Unpaid minimum required contributions for all years	2016-12-31	0

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Company Name:	GLOBAL LABOR SOLUTIONS, LLC
Employer identification number (EIN):	465421786
NAIC Classification:	541600

Jurisdiction of Incorporation:	Georgia Department of States Corporations Division
Incorporation Date:
Company Identification Number:	1925951