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BETTS COMPANY DEFINED BENEFIT PENSION PLAN 401k Plan overview

Plan NameBETTS COMPANY DEFINED BENEFIT PENSION PLAN
Plan identification number 002

BETTS COMPANY DEFINED BENEFIT PENSION PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily flat dollar (includes dollars per year of service)
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

BETTS COMPANY has sponsored the creation of one or more 401k plans.

Company Name:BETTS COMPANY
Employer identification number (EIN):940322450
NAIC Classification:332610

Additional information about BETTS COMPANY

Jurisdiction of Incorporation: California Department of State
Incorporation Date:
Company Identification Number: C0000828

More information about BETTS COMPANY

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BETTS COMPANY DEFINED BENEFIT PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-07-01JILL TAVEY2023-12-29 JILL TAVEY2023-12-29
0022021-07-01FELICIA MESPLE2023-04-11 FELICIA MESPLE2023-04-11
0022020-07-01YOLANDA ESCAMILLA2022-03-25 YOLANDA ESCAMILLA2022-03-25
0022019-07-01YOLANDA ESCAMILLA2021-04-12 YOLANDA ESCAMILLA2021-04-12
0022018-07-01YOLANDA ESCAMILLA2020-04-08 YOLANDA ESCAMILLA2020-04-08
0022017-07-01YOLANDA ESCAMILLA2019-04-10 YOLANDA ESCAMILLA2019-04-10
0022016-07-01YOLANDA ESCAMILLA2018-02-16 YOLANDA ESCAMILLA2018-02-16
0022016-07-01YOLANDA ESCAMILLA2019-02-13 YOLANDA ESCAMILLA2019-02-13
0022015-07-01LAURIE MEDINA2017-04-13 LAURIE MEDINA2017-04-13
0022014-07-01LAURIE MEDINA2016-03-17 LAURIE MEDINA2016-03-17
0022013-07-01LAURIE MEDINA2014-10-14 LAURIE MEDINA2014-10-14
0022012-07-01LAURIE MEDINA2014-02-14 LAURIE MEDINA2014-02-14
0022011-07-01LAURIE MEDINA2012-11-08 LAURIE MEDINA2012-11-08
0022010-07-01LAURIE MEDINA2012-04-11 LAURIE MEDINA2012-04-11

Plan Statistics for BETTS COMPANY DEFINED BENEFIT PENSION PLAN

401k plan membership statisitcs for BETTS COMPANY DEFINED BENEFIT PENSION PLAN

Measure Date Value
2023: BETTS COMPANY DEFINED BENEFIT PENSION PLAN 2023 401k membership
Market value of plan assets2023-05-24486,145
Acturial value of plan assets2023-05-24529,331
Funding target for retired participants and beneficiaries receiving payment2023-05-240
Number of terminated vested participants2023-05-2435
Fundng target for terminated vested participants2023-05-24909,904
Active participant vested funding target2023-05-240
Number of active participants2023-05-240
Total funding liabilities for active participants2023-05-240
Total participant count2023-05-2435
Total funding target for all participants2023-05-24909,904
Balance at beginning of prior year after applicable adjustments2023-05-240
Prefunding balance at beginning of prior year after applicable adjustments2023-05-240
Carryover balanced portion elected for use to offset prior years funding requirement2023-05-240
Prefunding balanced used to offset prior years funding requirement2023-05-240
Amount remaining of carryover balance2023-05-240
Amount remaining of prefunding balance2023-05-240
Present value of excess contributions2023-05-247,877
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2023-05-248,321
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2023-05-240
Reductions in caryover balances due to elections or deemed elections2023-05-240
Reductions in prefunding balances due to elections or deemed elections2023-05-240
Balance of carryovers at beginning of current year2023-05-240
Balance of prefunding at beginning of current year2023-05-240
Total employer contributions2023-05-24664,334
Contributions allocated toward unpaid minimum require contributions from prior years2023-05-240
Contributions made to avoid restrictions adjusted to valuation date2023-05-240
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2023-05-24635,277
Unpaid minimum required contributions for all prior years2023-05-240
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2023-05-240
Remaining amount of unpaid minimum required contributions2023-05-240
Minimum required contributions for current year target normal cost2023-05-2446,000
Net shortfall amortization installment of oustanding balance2023-05-24380,573
Waiver amortization installment2023-05-240
Total funding amount beforereflecting carryover/prefunding balances2023-05-2452,158
Carryover balance elected to use to offset funding requirement2023-05-240
Prefunding balance elected to use to offset funding requirement2023-05-240
Additional cash requirement2023-05-2452,158
Contributions allocatedtoward minimum required contributions for current year2023-05-24635,277
Unpaid minimum required contributions for current year2023-05-240
Unpaid minimum required contributions for all years2023-05-240
2022: BETTS COMPANY DEFINED BENEFIT PENSION PLAN 2022 401k membership
Market value of plan assets2022-06-30895,608
Acturial value of plan assets2022-06-30851,863
Funding target for retired participants and beneficiaries receiving payment2022-06-300
Number of terminated vested participants2022-06-3044
Fundng target for terminated vested participants2022-06-301,106,667
Active participant vested funding target2022-06-300
Number of active participants2022-06-300
Total funding liabilities for active participants2022-06-300
Total participant count2022-06-3044
Total funding target for all participants2022-06-301,106,667
Balance at beginning of prior year after applicable adjustments2022-06-300
Prefunding balance at beginning of prior year after applicable adjustments2022-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2022-06-300
Prefunding balanced used to offset prior years funding requirement2022-06-300
Amount remaining of carryover balance2022-06-300
Amount remaining of prefunding balance2022-06-300
Present value of excess contributions2022-06-301,807
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-06-301,912
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-06-300
Reductions in caryover balances due to elections or deemed elections2022-06-300
Reductions in prefunding balances due to elections or deemed elections2022-06-300
Balance of carryovers at beginning of current year2022-06-300
Balance of prefunding at beginning of current year2022-06-300
Total employer contributions2022-06-3085,062
Contributions allocated toward unpaid minimum require contributions from prior years2022-06-300
Contributions made to avoid restrictions adjusted to valuation date2022-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-06-3082,635
Unpaid minimum required contributions for all prior years2022-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-06-300
Remaining amount of unpaid minimum required contributions2022-06-300
Minimum required contributions for current year target normal cost2022-06-3051,000
Net shortfall amortization installment of oustanding balance2022-06-30254,804
Waiver amortization installment2022-06-300
Total funding amount beforereflecting carryover/prefunding balances2022-06-3074,758
Carryover balance elected to use to offset funding requirement2022-06-300
Prefunding balance elected to use to offset funding requirement2022-06-300
Additional cash requirement2022-06-3074,758
Contributions allocatedtoward minimum required contributions for current year2022-06-3082,635
Unpaid minimum required contributions for current year2022-06-300
Unpaid minimum required contributions for all years2022-06-300
2021: BETTS COMPANY DEFINED BENEFIT PENSION PLAN 2021 401k membership
Market value of plan assets2021-06-30910,424
Acturial value of plan assets2021-06-30905,749
Funding target for retired participants and beneficiaries receiving payment2021-06-300
Number of terminated vested participants2021-06-3047
Fundng target for terminated vested participants2021-06-301,146,743
Active participant vested funding target2021-06-300
Number of active participants2021-06-300
Total funding liabilities for active participants2021-06-300
Total participant count2021-06-3047
Total funding target for all participants2021-06-301,146,743
Balance at beginning of prior year after applicable adjustments2021-06-300
Prefunding balance at beginning of prior year after applicable adjustments2021-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2021-06-300
Prefunding balanced used to offset prior years funding requirement2021-06-300
Amount remaining of carryover balance2021-06-300
Amount remaining of prefunding balance2021-06-300
Present value of excess contributions2021-06-30688
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-06-30727
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-06-300
Reductions in caryover balances due to elections or deemed elections2021-06-300
Reductions in prefunding balances due to elections or deemed elections2021-06-300
Balance of carryovers at beginning of current year2021-06-300
Balance of prefunding at beginning of current year2021-06-300
Total employer contributions2021-06-30119,576
Total employee contributions2021-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2021-06-300
Contributions made to avoid restrictions adjusted to valuation date2021-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-06-30115,223
Unpaid minimum required contributions for all prior years2021-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-06-300
Remaining amount of unpaid minimum required contributions2021-06-300
Minimum required contributions for current year target normal cost2021-06-3050,000
Net shortfall amortization installment of oustanding balance2021-06-30240,994
Waiver amortization installment2021-06-300
Total funding amount beforereflecting carryover/prefunding balances2021-06-30113,416
Carryover balance elected to use to offset funding requirement2021-06-300
Prefunding balance elected to use to offset funding requirement2021-06-300
Additional cash requirement2021-06-30113,416
Contributions allocatedtoward minimum required contributions for current year2021-06-30115,223
Unpaid minimum required contributions for current year2021-06-300
Unpaid minimum required contributions for all years2021-06-300
2020: BETTS COMPANY DEFINED BENEFIT PENSION PLAN 2020 401k membership
Market value of plan assets2020-06-30980,178
Acturial value of plan assets2020-06-30977,209
Funding target for retired participants and beneficiaries receiving payment2020-06-300
Number of terminated vested participants2020-06-3052
Fundng target for terminated vested participants2020-06-301,261,745
Active participant vested funding target2020-06-300
Number of active participants2020-06-300
Total funding liabilities for active participants2020-06-300
Total participant count2020-06-3052
Total funding target for all participants2020-06-301,261,745
Balance at beginning of prior year after applicable adjustments2020-06-300
Prefunding balance at beginning of prior year after applicable adjustments2020-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2020-06-300
Prefunding balanced used to offset prior years funding requirement2020-06-300
Amount remaining of carryover balance2020-06-300
Amount remaining of prefunding balance2020-06-300
Present value of excess contributions2020-06-3016,010
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-06-3016,939
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-06-300
Reductions in caryover balances due to elections or deemed elections2020-06-300
Reductions in prefunding balances due to elections or deemed elections2020-06-300
Balance of carryovers at beginning of current year2020-06-300
Balance of prefunding at beginning of current year2020-06-300
Total employer contributions2020-06-30126,892
Total employee contributions2020-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2020-06-300
Contributions made to avoid restrictions adjusted to valuation date2020-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-06-30120,262
Unpaid minimum required contributions for all prior years2020-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-06-300
Remaining amount of unpaid minimum required contributions2020-06-300
Minimum required contributions for current year target normal cost2020-06-3058,000
Net shortfall amortization installment of oustanding balance2020-06-30284,536
Waiver amortization installment2020-06-300
Total funding amount beforereflecting carryover/prefunding balances2020-06-30119,574
Carryover balance elected to use to offset funding requirement2020-06-300
Prefunding balance elected to use to offset funding requirement2020-06-300
Additional cash requirement2020-06-30119,574
Contributions allocatedtoward minimum required contributions for current year2020-06-30120,262
Unpaid minimum required contributions for current year2020-06-300
Unpaid minimum required contributions for all years2020-06-300
2019: BETTS COMPANY DEFINED BENEFIT PENSION PLAN 2019 401k membership
Market value of plan assets2019-06-30970,163
Acturial value of plan assets2019-06-30979,230
Funding target for retired participants and beneficiaries receiving payment2019-06-300
Number of terminated vested participants2019-06-3055
Fundng target for terminated vested participants2019-06-301,224,418
Active participant vested funding target2019-06-300
Number of active participants2019-06-300
Total funding liabilities for active participants2019-06-300
Total participant count2019-06-3055
Total funding target for all participants2019-06-301,224,418
Balance at beginning of prior year after applicable adjustments2019-06-300
Prefunding balance at beginning of prior year after applicable adjustments2019-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2019-06-300
Prefunding balanced used to offset prior years funding requirement2019-06-300
Amount remaining of carryover balance2019-06-300
Amount remaining of prefunding balance2019-06-300
Present value of excess contributions2019-06-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-06-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-06-300
Reductions in caryover balances due to elections or deemed elections2019-06-300
Reductions in prefunding balances due to elections or deemed elections2019-06-300
Balance of carryovers at beginning of current year2019-06-300
Balance of prefunding at beginning of current year2019-06-300
Total employer contributions2019-06-30115,897
Total employee contributions2019-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2019-06-300
Contributions made to avoid restrictions adjusted to valuation date2019-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-06-30107,902
Unpaid minimum required contributions for all prior years2019-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-06-300
Remaining amount of unpaid minimum required contributions2019-06-300
Minimum required contributions for current year target normal cost2019-06-3043,000
Net shortfall amortization installment of oustanding balance2019-06-30245,188
Waiver amortization installment2019-06-300
Total funding amount beforereflecting carryover/prefunding balances2019-06-3091,892
Carryover balance elected to use to offset funding requirement2019-06-300
Prefunding balance elected to use to offset funding requirement2019-06-300
Additional cash requirement2019-06-3091,892
Contributions allocatedtoward minimum required contributions for current year2019-06-30107,902
Unpaid minimum required contributions for current year2019-06-300
Unpaid minimum required contributions for all years2019-06-300
2018: BETTS COMPANY DEFINED BENEFIT PENSION PLAN 2018 401k membership
Market value of plan assets2018-06-30968,287
Acturial value of plan assets2018-06-30973,287
Funding target for retired participants and beneficiaries receiving payment2018-06-300
Number of terminated vested participants2018-06-3056
Fundng target for terminated vested participants2018-06-301,151,832
Active participant vested funding target2018-06-300
Number of active participants2018-06-300
Total funding liabilities for active participants2018-06-300
Total participant count2018-06-3056
Total funding target for all participants2018-06-301,151,832
Balance at beginning of prior year after applicable adjustments2018-06-300
Prefunding balance at beginning of prior year after applicable adjustments2018-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2018-06-300
Prefunding balanced used to offset prior years funding requirement2018-06-300
Amount remaining of carryover balance2018-06-300
Amount remaining of prefunding balance2018-06-300
Present value of excess contributions2018-06-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-06-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-06-300
Reductions in caryover balances due to elections or deemed elections2018-06-300
Reductions in prefunding balances due to elections or deemed elections2018-06-300
Balance of carryovers at beginning of current year2018-06-300
Balance of prefunding at beginning of current year2018-06-300
Total employer contributions2018-06-3059,306
Total employee contributions2018-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2018-06-300
Contributions made to avoid restrictions adjusted to valuation date2018-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-06-3055,795
Unpaid minimum required contributions for all prior years2018-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-06-300
Remaining amount of unpaid minimum required contributions2018-06-300
Minimum required contributions for current year target normal cost2018-06-3022,000
Net shortfall amortization installment of oustanding balance2018-06-30178,545
Waiver amortization installment2018-06-300
Total funding amount beforereflecting carryover/prefunding balances2018-06-3055,795
Carryover balance elected to use to offset funding requirement2018-06-300
Prefunding balance elected to use to offset funding requirement2018-06-300
Additional cash requirement2018-06-3055,795
Contributions allocatedtoward minimum required contributions for current year2018-06-3055,795
Unpaid minimum required contributions for current year2018-06-300
Unpaid minimum required contributions for all years2018-06-300
2017: BETTS COMPANY DEFINED BENEFIT PENSION PLAN 2017 401k membership
Market value of plan assets2017-06-30888,967
Acturial value of plan assets2017-06-30930,148
Funding target for retired participants and beneficiaries receiving payment2017-06-300
Number of terminated vested participants2017-06-3057
Fundng target for terminated vested participants2017-06-301,054,746
Active participant vested funding target2017-06-300
Number of active participants2017-06-300
Total funding liabilities for active participants2017-06-300
Total participant count2017-06-3057
Total funding target for all participants2017-06-301,054,746
Balance at beginning of prior year after applicable adjustments2017-06-300
Prefunding balance at beginning of prior year after applicable adjustments2017-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2017-06-300
Prefunding balanced used to offset prior years funding requirement2017-06-300
Amount remaining of carryover balance2017-06-300
Amount remaining of prefunding balance2017-06-300
Present value of excess contributions2017-06-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-06-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-06-300
Reductions in caryover balances due to elections or deemed elections2017-06-300
Reductions in prefunding balances due to elections or deemed elections2017-06-300
Balance of carryovers at beginning of current year2017-06-300
Balance of prefunding at beginning of current year2017-06-300
Total employer contributions2017-06-3035,873
Total employee contributions2017-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2017-06-300
Contributions made to avoid restrictions adjusted to valuation date2017-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-06-3034,465
Unpaid minimum required contributions for all prior years2017-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-06-300
Remaining amount of unpaid minimum required contributions2017-06-300
Minimum required contributions for current year target normal cost2017-06-3021,000
Net shortfall amortization installment of oustanding balance2017-06-30124,598
Waiver amortization installment2017-06-300
Total funding amount beforereflecting carryover/prefunding balances2017-06-3043,328
Carryover balance elected to use to offset funding requirement2017-06-300
Prefunding balance elected to use to offset funding requirement2017-06-300
Additional cash requirement2017-06-3043,328
Contributions allocatedtoward minimum required contributions for current year2017-06-3034,465
Unpaid minimum required contributions for current year2017-06-308,863
Unpaid minimum required contributions for all years2017-06-308,863

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