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TOWN OF HEMPSTEAD EMPLOYEES FEDERAL CREDIT UNION RETIREMENT INCOME PLAN & TRUST 401k Plan overview

Plan NameTOWN OF HEMPSTEAD EMPLOYEES FEDERAL CREDIT UNION RETIREMENT INCOME PLAN & TRUST
Plan identification number 001

TOWN OF HEMPSTEAD EMPLOYEES FEDERAL CREDIT UNION RETIREMENT INCOME PLAN & TRUST Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
  • 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.
  • Life insurance

401k Sponsoring company profile

TOWN OF HEMPSTEAD EMPLOYEES FEDERAL CREDIT UNION has sponsored the creation of one or more 401k plans.

Company Name:TOWN OF HEMPSTEAD EMPLOYEES FEDERAL CREDIT UNION
Employer identification number (EIN):112147503
NAIC Classification:522130
NAIC Description:Credit Unions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan TOWN OF HEMPSTEAD EMPLOYEES FEDERAL CREDIT UNION RETIREMENT INCOME PLAN & TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-04-01
0012022-04-01
0012021-04-01
0012020-04-01
0012019-04-01
0012018-04-01
0012017-04-01
0012016-04-01
0012015-04-01
0012014-04-01
0012013-04-01
0012012-04-01ROBERT G. MUIR, CEO2013-06-19 ROBERT G. MUIR, CEO2013-06-19
0012011-04-01ROBERT G. MUIR, CEO2012-07-31 ROBERT G. MUIR, CEO2012-07-31
0012010-04-01ROBERT G. MUIR, CEO2011-06-06 ROBERT G. MUIR, CEO2011-06-06
0012009-04-01ROBERT G. MUIR, CEO ROBERT G. MUIR, CEO2010-08-12

Plan Statistics for TOWN OF HEMPSTEAD EMPLOYEES FEDERAL CREDIT UNION RETIREMENT INCOME PLAN & TRUST

401k plan membership statisitcs for TOWN OF HEMPSTEAD EMPLOYEES FEDERAL CREDIT UNION RETIREMENT INCOME PLAN & TRUST

Measure Date Value
2023: TOWN OF HEMPSTEAD EMPLOYEES FEDERAL CREDIT UNION RETIREMENT INCOME PLAN & TRUST 2023 401k membership
Market value of plan assets2023-03-3110,789,394
Acturial value of plan assets2023-03-3110,789,394
Funding target for retired participants and beneficiaries receiving payment2023-03-31356,420
Number of terminated vested participants2023-03-317
Fundng target for terminated vested participants2023-03-31211,843
Active participant vested funding target2023-03-313,435,437
Number of active participants2023-03-3113
Total funding liabilities for active participants2023-03-313,435,437
Total participant count2023-03-3121
Total funding target for all participants2023-03-314,003,700
Balance at beginning of prior year after applicable adjustments2023-03-310
Prefunding balance at beginning of prior year after applicable adjustments2023-03-310
Carryover balanced portion elected for use to offset prior years funding requirement2023-03-310
Prefunding balanced used to offset prior years funding requirement2023-03-310
Amount remaining of carryover balance2023-03-310
Amount remaining of prefunding balance2023-03-310
Present value of excess contributions2023-03-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2023-03-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2023-03-310
Reductions in caryover balances due to elections or deemed elections2023-03-310
Reductions in prefunding balances due to elections or deemed elections2023-03-310
Balance of carryovers at beginning of current year2023-03-310
Balance of prefunding at beginning of current year2023-03-310
Total employer contributions2023-03-310
Total employee contributions2023-03-310
Contributions allocated toward unpaid minimum require contributions from prior years2023-03-310
Contributions made to avoid restrictions adjusted to valuation date2023-03-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2023-03-310
Unpaid minimum required contributions for all prior years2023-03-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2023-03-310
Remaining amount of unpaid minimum required contributions2023-03-310
Minimum required contributions for current year target normal cost2023-03-310
Net shortfall amortization installment of oustanding balance2023-03-310
Waiver amortization installment2023-03-310
Total funding amount beforereflecting carryover/prefunding balances2023-03-310
Carryover balance elected to use to offset funding requirement2023-03-310
Prefunding balance elected to use to offset funding requirement2023-03-310
Additional cash requirement2023-03-310
Contributions allocatedtoward minimum required contributions for current year2023-03-310
Unpaid minimum required contributions for current year2023-03-310
Unpaid minimum required contributions for all years2023-03-310
2022: TOWN OF HEMPSTEAD EMPLOYEES FEDERAL CREDIT UNION RETIREMENT INCOME PLAN & TRUST 2022 401k membership
Market value of plan assets2022-03-3110,448,322
Acturial value of plan assets2022-03-3110,448,322
Funding target for retired participants and beneficiaries receiving payment2022-03-31369,998
Number of terminated vested participants2022-03-316
Fundng target for terminated vested participants2022-03-31154,685
Active participant vested funding target2022-03-313,124,695
Number of active participants2022-03-3114
Total funding liabilities for active participants2022-03-313,124,695
Total participant count2022-03-3121
Total funding target for all participants2022-03-313,649,378
Balance at beginning of prior year after applicable adjustments2022-03-310
Prefunding balance at beginning of prior year after applicable adjustments2022-03-310
Carryover balanced portion elected for use to offset prior years funding requirement2022-03-310
Prefunding balanced used to offset prior years funding requirement2022-03-310
Amount remaining of carryover balance2022-03-310
Amount remaining of prefunding balance2022-03-310
Present value of excess contributions2022-03-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-03-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-03-310
Reductions in caryover balances due to elections or deemed elections2022-03-310
Reductions in prefunding balances due to elections or deemed elections2022-03-310
Balance of carryovers at beginning of current year2022-03-310
Balance of prefunding at beginning of current year2022-03-310
Total employer contributions2022-03-310
Total employee contributions2022-03-310
Contributions allocated toward unpaid minimum require contributions from prior years2022-03-310
Contributions made to avoid restrictions adjusted to valuation date2022-03-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-03-310
Unpaid minimum required contributions for all prior years2022-03-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-03-310
Remaining amount of unpaid minimum required contributions2022-03-310
Minimum required contributions for current year target normal cost2022-03-310
Net shortfall amortization installment of oustanding balance2022-03-310
Waiver amortization installment2022-03-310
Total funding amount beforereflecting carryover/prefunding balances2022-03-310
Carryover balance elected to use to offset funding requirement2022-03-310
Prefunding balance elected to use to offset funding requirement2022-03-310
Additional cash requirement2022-03-310
Contributions allocatedtoward minimum required contributions for current year2022-03-310
Unpaid minimum required contributions for current year2022-03-310
Unpaid minimum required contributions for all years2022-03-310
2021: TOWN OF HEMPSTEAD EMPLOYEES FEDERAL CREDIT UNION RETIREMENT INCOME PLAN & TRUST 2021 401k membership
Market value of plan assets2021-03-318,536,137
Acturial value of plan assets2021-03-318,536,137
Funding target for retired participants and beneficiaries receiving payment2021-03-31384,438
Number of terminated vested participants2021-03-318
Fundng target for terminated vested participants2021-03-31145,248
Active participant vested funding target2021-03-312,904,444
Number of active participants2021-03-3115
Total funding liabilities for active participants2021-03-312,905,056
Total participant count2021-03-3124
Total funding target for all participants2021-03-313,434,742
Balance at beginning of prior year after applicable adjustments2021-03-310
Prefunding balance at beginning of prior year after applicable adjustments2021-03-310
Carryover balanced portion elected for use to offset prior years funding requirement2021-03-310
Prefunding balanced used to offset prior years funding requirement2021-03-310
Amount remaining of carryover balance2021-03-310
Amount remaining of prefunding balance2021-03-310
Present value of excess contributions2021-03-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-03-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-03-310
Reductions in caryover balances due to elections or deemed elections2021-03-310
Reductions in prefunding balances due to elections or deemed elections2021-03-310
Balance of carryovers at beginning of current year2021-03-310
Balance of prefunding at beginning of current year2021-03-310
Total employer contributions2021-03-310
Total employee contributions2021-03-310
Contributions allocated toward unpaid minimum require contributions from prior years2021-03-310
Contributions made to avoid restrictions adjusted to valuation date2021-03-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-03-310
Unpaid minimum required contributions for all prior years2021-03-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-03-310
Remaining amount of unpaid minimum required contributions2021-03-310
Minimum required contributions for current year target normal cost2021-03-310
Net shortfall amortization installment of oustanding balance2021-03-310
Waiver amortization installment2021-03-310
Total funding amount beforereflecting carryover/prefunding balances2021-03-310
Carryover balance elected to use to offset funding requirement2021-03-310
Prefunding balance elected to use to offset funding requirement2021-03-310
Additional cash requirement2021-03-310
Contributions allocatedtoward minimum required contributions for current year2021-03-310
Unpaid minimum required contributions for current year2021-03-310
Unpaid minimum required contributions for all years2021-03-310
2020: TOWN OF HEMPSTEAD EMPLOYEES FEDERAL CREDIT UNION RETIREMENT INCOME PLAN & TRUST 2020 401k membership
Market value of plan assets2020-03-318,989,157
Acturial value of plan assets2020-03-318,989,157
Funding target for retired participants and beneficiaries receiving payment2020-03-31406,254
Number of terminated vested participants2020-03-319
Fundng target for terminated vested participants2020-03-31166,260
Active participant vested funding target2020-03-312,823,862
Number of active participants2020-03-3120
Total funding liabilities for active participants2020-03-312,831,092
Total participant count2020-03-3130
Total funding target for all participants2020-03-313,403,606
Balance at beginning of prior year after applicable adjustments2020-03-310
Prefunding balance at beginning of prior year after applicable adjustments2020-03-310
Carryover balanced portion elected for use to offset prior years funding requirement2020-03-310
Prefunding balanced used to offset prior years funding requirement2020-03-310
Amount remaining of carryover balance2020-03-310
Amount remaining of prefunding balance2020-03-310
Present value of excess contributions2020-03-3146,108
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-03-3148,870
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-03-310
Reductions in caryover balances due to elections or deemed elections2020-03-310
Reductions in prefunding balances due to elections or deemed elections2020-03-310
Balance of carryovers at beginning of current year2020-03-310
Balance of prefunding at beginning of current year2020-03-310
Total employer contributions2020-03-310
Total employee contributions2020-03-310
Contributions allocated toward unpaid minimum require contributions from prior years2020-03-310
Contributions made to avoid restrictions adjusted to valuation date2020-03-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-03-310
Unpaid minimum required contributions for all prior years2020-03-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-03-310
Remaining amount of unpaid minimum required contributions2020-03-310
Minimum required contributions for current year target normal cost2020-03-310
Net shortfall amortization installment of oustanding balance2020-03-310
Waiver amortization installment2020-03-310
Total funding amount beforereflecting carryover/prefunding balances2020-03-310
Carryover balance elected to use to offset funding requirement2020-03-310
Prefunding balance elected to use to offset funding requirement2020-03-310
Additional cash requirement2020-03-310
Contributions allocatedtoward minimum required contributions for current year2020-03-310
Unpaid minimum required contributions for current year2020-03-310
Unpaid minimum required contributions for all years2020-03-310
2019: TOWN OF HEMPSTEAD EMPLOYEES FEDERAL CREDIT UNION RETIREMENT INCOME PLAN & TRUST 2019 401k membership
Market value of plan assets2019-03-318,755,864
Acturial value of plan assets2019-03-318,755,864
Funding target for retired participants and beneficiaries receiving payment2019-03-31423,203
Number of terminated vested participants2019-03-3111
Fundng target for terminated vested participants2019-03-31446,898
Active participant vested funding target2019-03-312,342,018
Number of active participants2019-03-3117
Total funding liabilities for active participants2019-03-312,351,946
Total participant count2019-03-3129
Total funding target for all participants2019-03-313,222,047
Balance at beginning of prior year after applicable adjustments2019-03-310
Prefunding balance at beginning of prior year after applicable adjustments2019-03-310
Carryover balanced portion elected for use to offset prior years funding requirement2019-03-310
Prefunding balanced used to offset prior years funding requirement2019-03-310
Amount remaining of carryover balance2019-03-310
Amount remaining of prefunding balance2019-03-310
Present value of excess contributions2019-03-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-03-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-03-310
Reductions in caryover balances due to elections or deemed elections2019-03-310
Reductions in prefunding balances due to elections or deemed elections2019-03-310
Balance of carryovers at beginning of current year2019-03-310
Balance of prefunding at beginning of current year2019-03-310
Total employer contributions2019-03-3147,488
Total employee contributions2019-03-310
Contributions allocated toward unpaid minimum require contributions from prior years2019-03-310
Contributions made to avoid restrictions adjusted to valuation date2019-03-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-03-3146,106
Unpaid minimum required contributions for all prior years2019-03-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-03-310
Remaining amount of unpaid minimum required contributions2019-03-310
Minimum required contributions for current year target normal cost2019-03-310
Net shortfall amortization installment of oustanding balance2019-03-310
Waiver amortization installment2019-03-310
Total funding amount beforereflecting carryover/prefunding balances2019-03-310
Carryover balance elected to use to offset funding requirement2019-03-310
Prefunding balance elected to use to offset funding requirement2019-03-310
Additional cash requirement2019-03-310
Contributions allocatedtoward minimum required contributions for current year2019-03-3146,106
Unpaid minimum required contributions for current year2019-03-310
Unpaid minimum required contributions for all years2019-03-310
2018: TOWN OF HEMPSTEAD EMPLOYEES FEDERAL CREDIT UNION RETIREMENT INCOME PLAN & TRUST 2018 401k membership
Market value of plan assets2018-03-318,281,872
Acturial value of plan assets2018-03-318,281,872
Funding target for retired participants and beneficiaries receiving payment2018-03-31414,140
Number of terminated vested participants2018-03-318
Fundng target for terminated vested participants2018-03-31125,783
Active participant vested funding target2018-03-312,337,225
Number of active participants2018-03-3119
Total funding liabilities for active participants2018-03-312,355,615
Total participant count2018-03-3128
Total funding target for all participants2018-03-312,895,538
Balance at beginning of prior year after applicable adjustments2018-03-310
Prefunding balance at beginning of prior year after applicable adjustments2018-03-310
Carryover balanced portion elected for use to offset prior years funding requirement2018-03-310
Prefunding balanced used to offset prior years funding requirement2018-03-310
Amount remaining of carryover balance2018-03-310
Amount remaining of prefunding balance2018-03-310
Present value of excess contributions2018-03-311,653,015
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-03-311,757,486
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-03-310
Reductions in caryover balances due to elections or deemed elections2018-03-310
Reductions in prefunding balances due to elections or deemed elections2018-03-310
Balance of carryovers at beginning of current year2018-03-310
Balance of prefunding at beginning of current year2018-03-310
Total employer contributions2018-03-310
Total employee contributions2018-03-310
Contributions allocated toward unpaid minimum require contributions from prior years2018-03-310
Contributions made to avoid restrictions adjusted to valuation date2018-03-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-03-310
Unpaid minimum required contributions for all prior years2018-03-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-03-310
Remaining amount of unpaid minimum required contributions2018-03-310
Minimum required contributions for current year target normal cost2018-03-31228,270
Net shortfall amortization installment of oustanding balance2018-03-310
Waiver amortization installment2018-03-310
Total funding amount beforereflecting carryover/prefunding balances2018-03-310
Carryover balance elected to use to offset funding requirement2018-03-310
Prefunding balance elected to use to offset funding requirement2018-03-310
Additional cash requirement2018-03-310
Contributions allocatedtoward minimum required contributions for current year2018-03-310
Unpaid minimum required contributions for current year2018-03-310
Unpaid minimum required contributions for all years2018-03-310
2017: TOWN OF HEMPSTEAD EMPLOYEES FEDERAL CREDIT UNION RETIREMENT INCOME PLAN & TRUST 2017 401k membership
Market value of plan assets2017-03-317,662,867
Acturial value of plan assets2017-03-317,662,867
Funding target for retired participants and beneficiaries receiving payment2017-03-31425,578
Number of terminated vested participants2017-03-3111
Fundng target for terminated vested participants2017-03-31115,902
Active participant vested funding target2017-03-313,030,850
Number of active participants2017-03-3121
Total funding liabilities for active participants2017-03-313,047,165
Total participant count2017-03-3133
Total funding target for all participants2017-03-313,588,645
Balance at beginning of prior year after applicable adjustments2017-03-310
Prefunding balance at beginning of prior year after applicable adjustments2017-03-310
Carryover balanced portion elected for use to offset prior years funding requirement2017-03-310
Prefunding balanced used to offset prior years funding requirement2017-03-310
Amount remaining of carryover balance2017-03-310
Amount remaining of prefunding balance2017-03-310
Present value of excess contributions2017-03-31386,868
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-03-31412,014
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-03-310
Reductions in caryover balances due to elections or deemed elections2017-03-310
Reductions in prefunding balances due to elections or deemed elections2017-03-310
Balance of carryovers at beginning of current year2017-03-310
Balance of prefunding at beginning of current year2017-03-310
Total employer contributions2017-03-311,723,644
Total employee contributions2017-03-310
Contributions allocated toward unpaid minimum require contributions from prior years2017-03-310
Contributions made to avoid restrictions adjusted to valuation date2017-03-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-03-311,653,015
Unpaid minimum required contributions for all prior years2017-03-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-03-310
Remaining amount of unpaid minimum required contributions2017-03-310
Minimum required contributions for current year target normal cost2017-03-31189,086
Net shortfall amortization installment of oustanding balance2017-03-310
Waiver amortization installment2017-03-310
Waived amount of outstanding balance2017-03-310
Total funding amount beforereflecting carryover/prefunding balances2017-03-310
Carryover balance elected to use to offset funding requirement2017-03-310
Prefunding balance elected to use to offset funding requirement2017-03-310
Additional cash requirement2017-03-310
Contributions allocatedtoward minimum required contributions for current year2017-03-311,653,015
Unpaid minimum required contributions for current year2017-03-310
Unpaid minimum required contributions for all years2017-03-310
2009: TOWN OF HEMPSTEAD EMPLOYEES FEDERAL CREDIT UNION RETIREMENT INCOME PLAN & TRUST 2009 401k membership
Total participants, beginning-of-year2009-04-0127
Total number of active participants reported on line 7a of the Form 55002009-04-0119
Number of retired or separated participants receiving benefits2009-04-011
Number of other retired or separated participants entitled to future benefits2009-04-017
Total of all active and inactive participants2009-04-0127
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-04-010
Total participants2009-04-0127
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-04-010

Form 5500 Responses for TOWN OF HEMPSTEAD EMPLOYEES FEDERAL CREDIT UNION RETIREMENT INCOME PLAN & TRUST

2009: TOWN OF HEMPSTEAD EMPLOYEES FEDERAL CREDIT UNION RETIREMENT INCOME PLAN & TRUST 2009 form 5500 responses
2009-04-01Type of plan entitySingle employer plan
2009-04-01Submission has been amendedNo
2009-04-01This submission is the final filingNo
2009-04-01This return/report is a short plan year return/report (less than 12 months)No
2009-04-01Plan is a collectively bargained planNo
2009-04-01Plan funding arrangement – InsuranceYes
2009-04-01Plan funding arrangement – TrustYes
2009-04-01Plan benefit arrangement – InsuranceYes
2009-04-01Plan benefit arrangement - TrustYes

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