Retired or separated participants receiving benefits, Other retired or separated participants entitled to future benefits, Deceased participants whose beneficiaries are receiving or are entitled to receive benefits, Total number of participants as of 01/01/2017, Number of participants with account balances, Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested. How do cash balance plans work? Copyright © 2008-2021, BrightScope Inc. All Rights Reserved. IL There are no service providers with indirect compensation listed for this plan. Cash pension plan available. We currently do not have enough data to calculate a rating for this plan. View GSK net cash flow, operating cash flow, operating expenses and cash dividends. In the first year, a maximum contribution of $ 82,788.00 can be made to the cash balance plan. Print; Form 5500 Year: 2017. Leaving GSK Pro You are leaving GSK Pro to visit a separate website not associated with GSK Pro, a portal for US Healthcare Professionals.There are website links to third-party sites on GSK Pro. Plan sponsor(s) received services of leased employees, as defined in Code section 414(n), during the plan year. ... Glassdoor is your resource for information about the Pension Plan benefits at GlaxoSmithKline. U.S.-based plan that covers residents of Puerto Rico and is qualified under both Code section 401 and section 8565 of the Puerto Rico Code. FORM 5500 DATA. We’ll act as your guide, using industry-leading expertise, a proven technology platform and robust support services to help you and your people make the best decisions. Cash Balance pension plans typically give employees 5% to 8% of their salary each year as employer contributions. As part of its focus on work-life balance, GSK also runs holiday clubs at four of its sites, so staff can bring their children in over the Easter and summer holidays. GlaxoSmithKline PLC’s net cash inflow from operating activities increased from 2012 to 2013 but then slightly decreased from 2013 to 2014 not reaching 2012 level. Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? Did the plan file for an extension of time or the DFVC Program? Plan administrator for the Glaxo Wellcome Pension Plan, Glaxo Wellcome Contracted-out Money Purchase Scheme (GWCOMPS), GSK Pension Plan, SmithKline Beecham Pension Plan and SmithKline Beecham Senior Executive Pension Plan. To get to $400,000, the plan assumes a combination of employer contributions and compound interest over time. Was this plan covered by a fidelity bond? GSK logo linking to the homepage. Investment management, Investment management fees paid directly by plan, Soft dollars commissions, Investment management, Investment management fees paid directly by plan, Recordkeeping and information management (computing, tabulating, data processing, etc. Cash-balance plans are like traditional defined-benefit pension plans with a 401(k) twist. It also provides a way for retirement plan sponsors to avoid a partial plan termination. View all GSK assets, cash, debt, liabilities, shareholder equity and investments. 01737 227563 +44 1737 227563 (overseas) GSKpensions@willistowerswatson.com. Disregard participant loans secured by participant's account balance. The guidance includes best practices for locating missing participants in addition to best practices for documenting efforts to do so. 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