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THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 401k Plan overview

Plan NameTHE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK
Plan identification number 001

THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 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).
  • 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.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • 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.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • 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

GENERATIONS BANK has sponsored the creation of one or more 401k plans.

Company Name:GENERATIONS BANK
Employer identification number (EIN):150443420
NAIC Classification:522120
NAIC Description:Savings Institutions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-10-01ANGELA KREZMER2024-03-19 ANGELA KREZMER2024-03-19
0012022-01-01
0012021-10-01LORI PARISH2023-05-18 LORI PARISH2023-05-18
0012020-10-01LORI PARISH2022-06-06 LORI PARISH2022-06-06
0012019-10-01
0012018-10-01
0012017-10-01
0012016-10-01LORI PARISH2018-01-02 LORI PARISH2018-01-02
0012015-10-01LORI M PARISH2017-04-17 LORI M PARISH2017-04-17
0012014-10-01LORI PARISH2016-02-10 LORI PARISH2016-02-10
0012013-10-01BONNIE MORLANG2014-12-12
0012012-10-01BONNIE MORLANG2014-06-24
0012011-10-01BONNIE MORLANG2013-05-08
0012010-10-01BONNIE MORLANG2012-06-07
0012009-10-01BONNIE MORLANG - SR. VICE PRESIDENT BONNIE MORLANG - SR. VICE PRESIDENT2011-04-13

Plan Statistics for THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK

401k plan membership statisitcs for THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK

Measure Date Value
2023: THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 2023 401k membership
Market value of plan assets2023-09-3015,928,518
Acturial value of plan assets2023-09-3015,928,518
Funding target for retired participants and beneficiaries receiving payment2023-09-302,511,865
Number of terminated vested participants2023-09-3034
Fundng target for terminated vested participants2023-09-302,425,037
Active participant vested funding target2023-09-303,156,047
Number of active participants2023-09-3022
Total funding liabilities for active participants2023-09-303,212,936
Total participant count2023-09-3068
Total funding target for all participants2023-09-308,149,838
Balance at beginning of prior year after applicable adjustments2023-09-306,860,828
Prefunding balance at beginning of prior year after applicable adjustments2023-09-305,383,992
Carryover balanced portion elected for use to offset prior years funding requirement2023-09-300
Prefunding balanced used to offset prior years funding requirement2023-09-300
Amount remaining of carryover balance2023-09-306,860,828
Amount remaining of prefunding balance2023-09-305,383,992
Present value of excess contributions2023-09-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2023-09-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2023-09-300
Reductions in caryover balances due to elections or deemed elections2023-09-302,324,521
Reductions in prefunding balances due to elections or deemed elections2023-09-300
Balance of carryovers at beginning of current year2023-09-303,336,348
Balance of prefunding at beginning of current year2023-09-304,442,332
Total employer contributions2023-09-30360,691
Total employee contributions2023-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2023-09-300
Contributions made to avoid restrictions adjusted to valuation date2023-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2023-09-30355,136
Liquidity shortfalls end of Q12023-09-300
Liquidity shortfalls end of Q22023-09-300
Liquidity shortfalls end of Q32023-09-300
Liquidity shortfalls end of Q42023-09-300
Unpaid minimum required contributions for all prior years2023-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2023-09-300
Remaining amount of unpaid minimum required contributions2023-09-300
Minimum required contributions for current year target normal cost2023-09-30355,136
Net shortfall amortization installment of oustanding balance2023-09-300
Waiver amortization installment2023-09-300
Total funding amount beforereflecting carryover/prefunding balances2023-09-30355,136
Carryover balance elected to use to offset funding requirement2023-09-300
Prefunding balance elected to use to offset funding requirement2023-09-300
Additional cash requirement2023-09-30355,136
Contributions allocatedtoward minimum required contributions for current year2023-09-30355,136
Unpaid minimum required contributions for current year2023-09-300
Unpaid minimum required contributions for all years2023-09-300
2022: THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 2022 401k membership
Market value of plan assets2022-09-3019,277,309
Acturial value of plan assets2022-09-3019,277,309
Funding target for retired participants and beneficiaries receiving payment2022-09-302,503,887
Number of terminated vested participants2022-09-3029
Fundng target for terminated vested participants2022-09-302,193,325
Active participant vested funding target2022-09-302,817,218
Number of active participants2022-09-3029
Total funding liabilities for active participants2022-09-302,860,582
Total participant count2022-09-3068
Total funding target for all participants2022-09-307,557,794
Balance at beginning of prior year after applicable adjustments2022-09-305,616,724
Prefunding balance at beginning of prior year after applicable adjustments2022-09-304,407,689
Carryover balanced portion elected for use to offset prior years funding requirement2022-09-300
Prefunding balanced used to offset prior years funding requirement2022-09-300
Amount remaining of carryover balance2022-09-305,616,724
Amount remaining of prefunding balance2022-09-304,407,689
Present value of excess contributions2022-09-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-09-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-09-300
Reductions in caryover balances due to elections or deemed elections2022-09-300
Reductions in prefunding balances due to elections or deemed elections2022-09-300
Balance of carryovers at beginning of current year2022-09-306,860,828
Balance of prefunding at beginning of current year2022-09-305,383,992
Total employer contributions2022-09-30328,628
Total employee contributions2022-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2022-09-300
Contributions made to avoid restrictions adjusted to valuation date2022-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-09-30323,384
Liquidity shortfalls end of Q12022-09-300
Liquidity shortfalls end of Q22022-09-300
Liquidity shortfalls end of Q32022-09-300
Liquidity shortfalls end of Q42022-09-300
Unpaid minimum required contributions for all prior years2022-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-09-300
Remaining amount of unpaid minimum required contributions2022-09-300
Minimum required contributions for current year target normal cost2022-09-30323,384
Net shortfall amortization installment of oustanding balance2022-09-300
Waiver amortization installment2022-09-300
Total funding amount beforereflecting carryover/prefunding balances2022-09-30323,384
Carryover balance elected to use to offset funding requirement2022-09-300
Prefunding balance elected to use to offset funding requirement2022-09-300
Additional cash requirement2022-09-30323,384
Contributions allocatedtoward minimum required contributions for current year2022-09-30323,384
Unpaid minimum required contributions for current year2022-09-300
Unpaid minimum required contributions for all years2022-09-300
Total participants, beginning-of-year2022-01-01118
Total number of active participants reported on line 7a of the Form 55002022-01-0175
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-0117
Total of all active and inactive participants2022-01-0192
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-0192
Number of participants with account balances2022-01-0187
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-0110
2021: THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 2021 401k membership
Market value of plan assets2021-09-3016,455,962
Acturial value of plan assets2021-09-3016,455,962
Funding target for retired participants and beneficiaries receiving payment2021-09-303,245,863
Number of terminated vested participants2021-09-3028
Fundng target for terminated vested participants2021-09-301,895,642
Active participant vested funding target2021-09-302,663,755
Number of active participants2021-09-3031
Total funding liabilities for active participants2021-09-302,663,755
Total participant count2021-09-3073
Total funding target for all participants2021-09-307,805,260
Balance at beginning of prior year after applicable adjustments2021-09-305,227,291
Prefunding balance at beginning of prior year after applicable adjustments2021-09-304,102,084
Carryover balanced portion elected for use to offset prior years funding requirement2021-09-300
Prefunding balanced used to offset prior years funding requirement2021-09-300
Amount remaining of carryover balance2021-09-305,227,291
Amount remaining of prefunding balance2021-09-304,102,084
Present value of excess contributions2021-09-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-09-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-09-300
Reductions in caryover balances due to elections or deemed elections2021-09-300
Reductions in prefunding balances due to elections or deemed elections2021-09-300
Balance of carryovers at beginning of current year2021-09-305,616,724
Balance of prefunding at beginning of current year2021-09-304,407,689
Total employer contributions2021-09-30365,355
Total employee contributions2021-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2021-09-300
Contributions made to avoid restrictions adjusted to valuation date2021-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-09-30359,741
Liquidity shortfalls end of Q12021-09-300
Liquidity shortfalls end of Q22021-09-300
Liquidity shortfalls end of Q32021-09-300
Liquidity shortfalls end of Q42021-09-300
Unpaid minimum required contributions for all prior years2021-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-09-300
Remaining amount of unpaid minimum required contributions2021-09-300
Minimum required contributions for current year target normal cost2021-09-30359,741
Net shortfall amortization installment of oustanding balance2021-09-300
Waiver amortization installment2021-09-300
Total funding amount beforereflecting carryover/prefunding balances2021-09-30359,741
Carryover balance elected to use to offset funding requirement2021-09-300
Prefunding balance elected to use to offset funding requirement2021-09-300
Additional cash requirement2021-09-30359,741
Contributions allocatedtoward minimum required contributions for current year2021-09-30359,741
Unpaid minimum required contributions for current year2021-09-300
Unpaid minimum required contributions for all years2021-09-300
2020: THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 2020 401k membership
Market value of plan assets2020-09-3016,617,327
Acturial value of plan assets2020-09-3016,617,327
Funding target for retired participants and beneficiaries receiving payment2020-09-303,945,624
Number of terminated vested participants2020-09-3046
Fundng target for terminated vested participants2020-09-302,068,484
Active participant vested funding target2020-09-302,290,725
Number of active participants2020-09-3037
Total funding liabilities for active participants2020-09-302,370,558
Total participant count2020-09-30107
Total funding target for all participants2020-09-308,384,666
Balance at beginning of prior year after applicable adjustments2020-09-305,019,966
Prefunding balance at beginning of prior year after applicable adjustments2020-09-303,901,982
Carryover balanced portion elected for use to offset prior years funding requirement2020-09-300
Prefunding balanced used to offset prior years funding requirement2020-09-300
Amount remaining of carryover balance2020-09-305,019,966
Amount remaining of prefunding balance2020-09-303,901,982
Present value of excess contributions2020-09-3036,811
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-09-3038,950
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-09-3038,950
Reductions in caryover balances due to elections or deemed elections2020-09-300
Reductions in prefunding balances due to elections or deemed elections2020-09-300
Balance of carryovers at beginning of current year2020-09-305,227,291
Balance of prefunding at beginning of current year2020-09-304,102,084
Total employer contributions2020-09-30281,102
Total employee contributions2020-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2020-09-300
Contributions made to avoid restrictions adjusted to valuation date2020-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-09-30276,661
Liquidity shortfalls end of Q12020-09-300
Liquidity shortfalls end of Q22020-09-300
Liquidity shortfalls end of Q32020-09-300
Liquidity shortfalls end of Q42020-09-300
Unpaid minimum required contributions for all prior years2020-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-09-300
Remaining amount of unpaid minimum required contributions2020-09-300
Minimum required contributions for current year target normal cost2020-09-30276,661
Net shortfall amortization installment of oustanding balance2020-09-300
Waiver amortization installment2020-09-300
Total funding amount beforereflecting carryover/prefunding balances2020-09-30276,661
Carryover balance elected to use to offset funding requirement2020-09-300
Prefunding balance elected to use to offset funding requirement2020-09-300
Additional cash requirement2020-09-30276,661
Contributions allocatedtoward minimum required contributions for current year2020-09-30276,661
Unpaid minimum required contributions for current year2020-09-300
Unpaid minimum required contributions for all years2020-09-300
2019: THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 2019 401k membership
Total participants, beginning-of-year2019-10-01107
Total number of active participants reported on line 7a of the Form 55002019-10-0131
Number of retired or separated participants receiving benefits2019-10-0112
Number of other retired or separated participants entitled to future benefits2019-10-0128
Total of all active and inactive participants2019-10-0171
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-10-012
Total participants2019-10-0173
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-10-013
Market value of plan assets2019-09-3015,948,174
Acturial value of plan assets2019-09-3015,948,174
Funding target for retired participants and beneficiaries receiving payment2019-09-303,540,411
Number of terminated vested participants2019-09-3042
Fundng target for terminated vested participants2019-09-302,031,666
Active participant vested funding target2019-09-302,029,887
Number of active participants2019-09-3050
Total funding liabilities for active participants2019-09-302,187,349
Total participant count2019-09-30114
Total funding target for all participants2019-09-307,759,426
Balance at beginning of prior year after applicable adjustments2019-09-304,635,845
Prefunding balance at beginning of prior year after applicable adjustments2019-09-303,598,950
Carryover balanced portion elected for use to offset prior years funding requirement2019-09-305,734
Prefunding balanced used to offset prior years funding requirement2019-09-300
Amount remaining of carryover balance2019-09-304,630,111
Amount remaining of prefunding balance2019-09-303,598,950
Present value of excess contributions2019-09-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-09-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-09-300
Reductions in caryover balances due to elections or deemed elections2019-09-300
Reductions in prefunding balances due to elections or deemed elections2019-09-300
Balance of carryovers at beginning of current year2019-09-305,019,966
Balance of prefunding at beginning of current year2019-09-303,901,982
Total employer contributions2019-09-30407,127
Total employee contributions2019-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2019-09-300
Contributions made to avoid restrictions adjusted to valuation date2019-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-09-30400,437
Liquidity shortfalls end of Q12019-09-300
Liquidity shortfalls end of Q22019-09-300
Liquidity shortfalls end of Q32019-09-300
Liquidity shortfalls end of Q42019-09-300
Unpaid minimum required contributions for all prior years2019-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-09-300
Remaining amount of unpaid minimum required contributions2019-09-300
Minimum required contributions for current year target normal cost2019-09-30363,626
Net shortfall amortization installment of oustanding balance2019-09-300
Waiver amortization installment2019-09-300
Total funding amount beforereflecting carryover/prefunding balances2019-09-30363,626
Carryover balance elected to use to offset funding requirement2019-09-300
Prefunding balance elected to use to offset funding requirement2019-09-300
Additional cash requirement2019-09-30363,626
Contributions allocatedtoward minimum required contributions for current year2019-09-30400,437
Unpaid minimum required contributions for current year2019-09-300
Unpaid minimum required contributions for all years2019-09-300
2018: THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 2018 401k membership
Total participants, beginning-of-year2018-10-01114
Total number of active participants reported on line 7a of the Form 55002018-10-0137
Number of retired or separated participants receiving benefits2018-10-0120
Number of other retired or separated participants entitled to future benefits2018-10-0146
Total of all active and inactive participants2018-10-01103
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-10-014
Total participants2018-10-01107
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-10-016
Market value of plan assets2018-09-3014,694,157
Acturial value of plan assets2018-09-3014,694,157
Funding target for retired participants and beneficiaries receiving payment2018-09-303,135,563
Number of terminated vested participants2018-09-3030
Fundng target for terminated vested participants2018-09-30966,238
Active participant vested funding target2018-09-302,538,918
Number of active participants2018-09-3074
Total funding liabilities for active participants2018-09-302,740,265
Total participant count2018-09-30123
Total funding target for all participants2018-09-306,842,066
Balance at beginning of prior year after applicable adjustments2018-09-304,125,147
Prefunding balance at beginning of prior year after applicable adjustments2018-09-303,194,020
Carryover balanced portion elected for use to offset prior years funding requirement2018-09-304,762
Prefunding balanced used to offset prior years funding requirement2018-09-300
Amount remaining of carryover balance2018-09-304,120,385
Amount remaining of prefunding balance2018-09-303,194,020
Present value of excess contributions2018-09-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-09-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-09-300
Reductions in caryover balances due to elections or deemed elections2018-09-300
Reductions in prefunding balances due to elections or deemed elections2018-09-300
Balance of carryovers at beginning of current year2018-09-304,635,845
Balance of prefunding at beginning of current year2018-09-303,593,592
Total employer contributions2018-09-30358,761
Total employee contributions2018-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2018-09-300
Contributions made to avoid restrictions adjusted to valuation date2018-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-09-30353,027
Liquidity shortfalls end of Q12018-09-300
Liquidity shortfalls end of Q22018-09-300
Liquidity shortfalls end of Q32018-09-300
Liquidity shortfalls end of Q42018-09-300
Unpaid minimum required contributions for all prior years2018-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-09-300
Remaining amount of unpaid minimum required contributions2018-09-300
Minimum required contributions for current year target normal cost2018-09-30358,761
Net shortfall amortization installment of oustanding balance2018-09-300
Waiver amortization installment2018-09-300
Total funding amount beforereflecting carryover/prefunding balances2018-09-30358,761
Carryover balance elected to use to offset funding requirement2018-09-305,734
Prefunding balance elected to use to offset funding requirement2018-09-300
Additional cash requirement2018-09-30353,027
Contributions allocatedtoward minimum required contributions for current year2018-09-30353,027
Unpaid minimum required contributions for current year2018-09-300
Unpaid minimum required contributions for all years2018-09-300
2017: THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 2017 401k membership
Total participants, beginning-of-year2017-10-01123
Total number of active participants reported on line 7a of the Form 55002017-10-0149
Number of retired or separated participants receiving benefits2017-10-0119
Number of other retired or separated participants entitled to future benefits2017-10-0142
Total of all active and inactive participants2017-10-01110
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-10-013
Total participants2017-10-01113
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-10-0111
Market value of plan assets2017-09-3013,090,085
Acturial value of plan assets2017-09-3013,090,085
Funding target for retired participants and beneficiaries receiving payment2017-09-302,974,104
Number of terminated vested participants2017-09-3028
Fundng target for terminated vested participants2017-09-30851,580
Active participant vested funding target2017-09-302,212,518
Number of active participants2017-09-3072
Total funding liabilities for active participants2017-09-302,391,325
Total participant count2017-09-30117
Total funding target for all participants2017-09-306,217,009
Balance at beginning of prior year after applicable adjustments2017-09-303,711,667
Prefunding balance at beginning of prior year after applicable adjustments2017-09-302,230,658
Carryover balanced portion elected for use to offset prior years funding requirement2017-09-300
Prefunding balanced used to offset prior years funding requirement2017-09-300
Amount remaining of carryover balance2017-09-303,711,667
Amount remaining of prefunding balance2017-09-302,230,658
Present value of excess contributions2017-09-30671,048
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-09-30714,867
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-09-30714,867
Reductions in caryover balances due to elections or deemed elections2017-09-300
Reductions in prefunding balances due to elections or deemed elections2017-09-300
Balance of carryovers at beginning of current year2017-09-304,125,147
Balance of prefunding at beginning of current year2017-09-303,194,020
Total employer contributions2017-09-30297,583
Total employee contributions2017-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2017-09-300
Contributions made to avoid restrictions adjusted to valuation date2017-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-09-30292,821
Liquidity shortfalls end of Q12017-09-300
Liquidity shortfalls end of Q22017-09-300
Liquidity shortfalls end of Q32017-09-300
Liquidity shortfalls end of Q42017-09-300
Unpaid minimum required contributions for all prior years2017-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-09-300
Remaining amount of unpaid minimum required contributions2017-09-300
Minimum required contributions for current year target normal cost2017-09-30297,583
Net shortfall amortization installment of oustanding balance2017-09-300
Waiver amortization installment2017-09-300
Total funding amount beforereflecting carryover/prefunding balances2017-09-30297,583
Carryover balance elected to use to offset funding requirement2017-09-304,762
Prefunding balance elected to use to offset funding requirement2017-09-300
Additional cash requirement2017-09-30292,821
Contributions allocatedtoward minimum required contributions for current year2017-09-30292,821
Unpaid minimum required contributions for current year2017-09-300
Unpaid minimum required contributions for all years2017-09-300
2009: THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 2009 401k membership
Total participants, beginning-of-year2009-10-0159
Total number of active participants reported on line 7a of the Form 55002009-10-0153
Number of retired or separated participants receiving benefits2009-10-0111
Number of other retired or separated participants entitled to future benefits2009-10-0110
Total of all active and inactive participants2009-10-0174
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-10-013
Total participants2009-10-0177
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-10-010

Financial Data on THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK

Measure Date Value
2022 : THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 2022 401k financial data
Transfers to/from the plan2022-12-31$0
Total plan liabilities at end of year2022-12-31$0
Total plan liabilities at beginning of year2022-12-31$0
Total income from all sources2022-12-31$-251,500
Expenses. Total of all expenses incurred2022-12-31$491,953
Benefits paid (including direct rollovers)2022-12-31$466,459
Total plan assets at end of year2022-12-31$3,011,503
Total plan assets at beginning of year2022-12-31$3,754,956
Value of fidelity bond covering the plan2022-12-31$1,000,000
Total contributions received or receivable from participants2022-12-31$256,314
Expenses. Other expenses not covered elsewhere2022-12-31$0
Contributions received from other sources (not participants or employers)2022-12-31$0
Other income received2022-12-31$-565,416
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$-743,453
Net plan assets at end of year (total assets less liabilities)2022-12-31$3,011,503
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$3,754,956
Assets. Value of participant loans2022-12-31$16,712
Value of loans by the plan or fixed income obligations due to the plan which were in default or classified as uncollectible at the close of the plan year2022-12-31$0
Value of leases to which the plan was a party in default or classified as uncollectible during the plan year2022-12-31$0
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022022-12-31$2,516
Assets. Value of employer securities2022-12-31$888,866
Total contributions received or receivable from employer(s)2022-12-31$57,602
Value of certain deemed distributions of participant loans2022-12-31$0
Value of corrective distributions2022-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$25,494
2020 : THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 2020 401k financial data
Total income from all sources (including contributions)2020-09-30$1,469,152
Total of all expenses incurred2020-09-30$1,630,517
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-09-30$1,606,307
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-09-30$281,102
Value of total assets at end of year2020-09-30$16,455,962
Value of total assets at beginning of year2020-09-30$16,617,327
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-09-30$24,210
Total dividends received (eg from common stock, registered investment company shares)2020-09-30$1,188,051
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-09-30No
Total dividends received from registered investment company shares (eg mutual funds)2020-09-30$1,188,051
Was this plan covered by a fidelity bond2020-09-30Yes
Value of fidelity bond cover2020-09-30$500,000
Were there any nonexempt tranactions with any party-in-interest2020-09-30No
Other income not declared elsewhere2020-09-30$-1
Administrative expenses (other) incurred2020-09-30$24,210
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-09-30No
Value of net income/loss2020-09-30$-161,365
Value of net assets at end of year (total assets less liabilities)2020-09-30$16,455,962
Value of net assets at beginning of year (total assets less liabilities)2020-09-30$16,617,327
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-09-30No
Were any loans by the plan or fixed income obligations due to the plan in default2020-09-30No
Were any leases to which the plan was party in default or uncollectible2020-09-30No
Value of interest in pooled separate accounts at end of year2020-09-30$16,455,962
Value of interest in pooled separate accounts at beginning of year2020-09-30$16,617,327
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-09-30Yes
Was there a failure to transmit to the plan any participant contributions2020-09-30No
Has the plan failed to provide any benefit when due under the plan2020-09-30No
Contributions received in cash from employer2020-09-30$281,102
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-09-30$1,606,307
Did the plan have assets held for investment2020-09-30Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-09-30No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-09-30No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2020-09-30Yes
Opinion of an independent qualified public accountant for this plan2020-09-30Disclaimer
Accountancy firm name2020-09-30BONADIO & CO., LLP
Accountancy firm EIN2020-09-30161131146
2019 : THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 2019 401k financial data
Total income from all sources (including contributions)2019-09-30$1,066,719
Total of all expenses incurred2019-09-30$397,566
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-09-30$386,316
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-09-30$407,127
Value of total assets at end of year2019-09-30$16,617,327
Value of total assets at beginning of year2019-09-30$15,948,174
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-09-30$11,250
Total dividends received (eg from common stock, registered investment company shares)2019-09-30$667,904
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-09-30No
Total dividends received from registered investment company shares (eg mutual funds)2019-09-30$667,904
Administrative expenses professional fees incurred2019-09-30$11,250
Was this plan covered by a fidelity bond2019-09-30Yes
Value of fidelity bond cover2019-09-30$500,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-09-30$0
Were there any nonexempt tranactions with any party-in-interest2019-09-30No
Other income not declared elsewhere2019-09-30$-8,312
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2019-09-30No
Value of net income/loss2019-09-30$669,153
Value of net assets at end of year (total assets less liabilities)2019-09-30$16,617,327
Value of net assets at beginning of year (total assets less liabilities)2019-09-30$15,948,174
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-09-30No
Were any loans by the plan or fixed income obligations due to the plan in default2019-09-30No
Were any leases to which the plan was party in default or uncollectible2019-09-30No
Value of interest in pooled separate accounts at end of year2019-09-30$16,617,327
Value of interest in pooled separate accounts at beginning of year2019-09-30$15,948,174
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-09-30No
Was there a failure to transmit to the plan any participant contributions2019-09-30No
Has the plan failed to provide any benefit when due under the plan2019-09-30No
Contributions received in cash from employer2019-09-30$407,127
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-09-30$386,316
Did the plan have assets held for investment2019-09-30Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2019-09-30No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-09-30No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2019-09-30Yes
Opinion of an independent qualified public accountant for this plan2019-09-30Disclaimer
Accountancy firm name2019-09-30BONADIO & CO, LLP
Accountancy firm EIN2019-09-30161131146
2018 : THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 2018 401k financial data
Total income from all sources (including contributions)2018-09-30$1,597,099
Total of all expenses incurred2018-09-30$343,082
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2018-09-30$335,257
Total contributions o plan (from employers,participants, others, non cash contrinutions)2018-09-30$358,761
Value of total assets at end of year2018-09-30$15,948,174
Value of total assets at beginning of year2018-09-30$14,694,157
Total of administrative expenses incurred including professional, contract, advisory and management fees2018-09-30$7,825
Total dividends received (eg from common stock, registered investment company shares)2018-09-30$1,238,338
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2018-09-30No
Total dividends received from registered investment company shares (eg mutual funds)2018-09-30$1,238,338
Administrative expenses professional fees incurred2018-09-30$7,825
Was this plan covered by a fidelity bond2018-09-30Yes
Value of fidelity bond cover2018-09-30$500,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2018-09-30$0
Were there any nonexempt tranactions with any party-in-interest2018-09-30No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2018-09-30No
Value of net income/loss2018-09-30$1,254,017
Value of net assets at end of year (total assets less liabilities)2018-09-30$15,948,174
Value of net assets at beginning of year (total assets less liabilities)2018-09-30$14,694,157
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2018-09-30No
Were any loans by the plan or fixed income obligations due to the plan in default2018-09-30No
Were any leases to which the plan was party in default or uncollectible2018-09-30No
Value of interest in pooled separate accounts at end of year2018-09-30$15,948,174
Value of interest in pooled separate accounts at beginning of year2018-09-30$14,694,157
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2018-09-30No
Was there a failure to transmit to the plan any participant contributions2018-09-30No
Has the plan failed to provide any benefit when due under the plan2018-09-30No
Contributions received in cash from employer2018-09-30$358,761
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2018-09-30$335,257
Did the plan have assets held for investment2018-09-30Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2018-09-30No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2018-09-30No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2018-09-30Yes
Opinion of an independent qualified public accountant for this plan2018-09-30Disclaimer
Accountancy firm name2018-09-30BONADIO & CO, LLP
Accountancy firm EIN2018-09-30161131146
2010 : THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 2010 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-09-30$0

Form 5500 Responses for THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK

2022: THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement - TrustYes
2019: THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 2019 form 5500 responses
2019-10-01Type of plan entitySingle employer plan
2019-10-01Submission has been amendedNo
2019-10-01This submission is the final filingNo
2019-10-01This return/report is a short plan year return/report (less than 12 months)No
2019-10-01Plan is a collectively bargained planNo
2019-10-01Plan funding arrangement – InsuranceYes
2019-10-01Plan funding arrangement – TrustYes
2019-10-01Plan benefit arrangement – InsuranceYes
2019-10-01Plan benefit arrangement - TrustYes
2018: THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 2018 form 5500 responses
2018-10-01Type of plan entitySingle employer plan
2018-10-01Submission has been amendedNo
2018-10-01This submission is the final filingNo
2018-10-01This return/report is a short plan year return/report (less than 12 months)No
2018-10-01Plan is a collectively bargained planNo
2018-10-01Plan funding arrangement – InsuranceYes
2018-10-01Plan funding arrangement – TrustYes
2018-10-01Plan benefit arrangement – InsuranceYes
2018-10-01Plan benefit arrangement - TrustYes
2017: THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 2017 form 5500 responses
2017-10-01Type of plan entitySingle employer plan
2017-10-01Submission has been amendedNo
2017-10-01This submission is the final filingNo
2017-10-01This return/report is a short plan year return/report (less than 12 months)No
2017-10-01Plan is a collectively bargained planNo
2017-10-01Plan funding arrangement – InsuranceYes
2017-10-01Plan funding arrangement – TrustYes
2017-10-01Plan benefit arrangement – InsuranceYes
2017-10-01Plan benefit arrangement - TrustYes
2009: THE RETIREMENT PLAN OF THE SENECA FALLS SAVINGS BANK 2009 form 5500 responses
2009-10-01Type of plan entitySingle employer plan
2009-10-01Submission has been amendedNo
2009-10-01This submission is the final filingNo
2009-10-01This return/report is a short plan year return/report (less than 12 months)No
2009-10-01Plan is a collectively bargained planNo
2009-10-01Plan funding arrangement – TrustYes
2009-10-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number822407
Policy instance 1
Insurance contract or identification number822407
Number of Individuals Covered92
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number467968
Policy instance 2
Insurance contract or identification number467968
Number of Individuals Covered92
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65935 )
Policy contract numberSA 13075
Policy instance 1
Insurance contract or identification numberSA 13075
Insurance policy start date2019-10-01
Insurance policy end date2020-09-30
Total amount of commissions paid to insurance brokerUSD $40,005
Total amount of fees paid to insurance companyUSD $1,929
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Commission paid to Insurance BrokerUSD $40,005
Amount paid for insurance broker fees1929
Additional information about fees paid to insurance brokerSINGLE CASE FLAT FEE
Insurance broker organization code?3
MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65935 )
Policy contract numberSA 13075
Policy instance 1
Insurance contract or identification numberSA 13075
Insurance policy start date2018-10-01
Insurance policy end date2019-09-30
Total amount of commissions paid to insurance brokerUSD $44,859
Total amount of fees paid to insurance companyUSD $0
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Commission paid to Insurance BrokerUSD $44,859
Amount paid for insurance broker fees0
Insurance broker organization code?3
MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65935 )
Policy contract numberSA 13075
Policy instance 1
Insurance contract or identification numberSA 13075
Insurance policy start date2017-10-01
Insurance policy end date2018-09-30
Total amount of commissions paid to insurance brokerUSD $38,515
Total amount of fees paid to insurance companyUSD $0
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes

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