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PROGRESSIVE ELECTRIC CO., INC. DEFINED BENEFIT PLAN 401k Plan overview

Plan NamePROGRESSIVE ELECTRIC CO., INC. DEFINED BENEFIT PLAN
Plan identification number 002

PROGRESSIVE ELECTRIC CO., INC. DEFINED BENEFIT PLAN 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).
  • 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.

401k Sponsoring company profile

PROGRESSIVE ELECTRIC CO., INC. has sponsored the creation of one or more 401k plans.

Company Name:PROGRESSIVE ELECTRIC CO., INC.
Employer identification number (EIN):222759477
NAIC Classification:238210
NAIC Description:Electrical Contractors and Other Wiring Installation Contractors

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PROGRESSIVE ELECTRIC CO., INC. DEFINED BENEFIT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022019-12-01JOSEPH LACERENZA2021-03-29 JOSEPH LACERENZA2021-03-29
0022017-12-01JOSEPH LACERENZA2019-02-20 JOSEPH LACERENZA2019-02-20
0022015-12-01JOSEPH LACERENZA2017-02-22 JOSEPH LACERENZA2017-02-22
0022014-12-01JOSEPH LACERENZA2016-04-15 JOSEPH LACERENZA2016-04-15
0022013-12-01JOSEPH LACERENZA2015-03-12 JOSPEH LACERENZA2015-03-12
0022012-12-01JOSEPH LACERENZA2014-08-11 JOSPEH LACERENZA2014-08-11
0022011-12-01JOSEPH LACERENZA2013-04-20 JOSPEH LACERENZA2013-04-20
0022010-12-01JOSEPH LACERENZA2012-02-27 JOSPEH LACERENZA2012-02-27
0022008-12-01

Plan Statistics for PROGRESSIVE ELECTRIC CO., INC. DEFINED BENEFIT PLAN

401k plan membership statisitcs for PROGRESSIVE ELECTRIC CO., INC. DEFINED BENEFIT PLAN

Measure Date Value
2019: PROGRESSIVE ELECTRIC CO., INC. DEFINED BENEFIT PLAN 2019 401k membership
Market value of plan assets2019-11-301,000,553
Acturial value of plan assets2019-11-301,000,553
Funding target for retired participants and beneficiaries receiving payment2019-11-300
Number of terminated vested participants2019-11-301
Fundng target for terminated vested participants2019-11-3010,072
Active participant vested funding target2019-11-30476,661
Number of active participants2019-11-302
Total funding liabilities for active participants2019-11-30476,661
Total participant count2019-11-303
Total funding target for all participants2019-11-30486,733
Balance at beginning of prior year after applicable adjustments2019-11-300
Prefunding balance at beginning of prior year after applicable adjustments2019-11-300
Carryover balanced portion elected for use to offset prior years funding requirement2019-11-300
Prefunding balanced used to offset prior years funding requirement2019-11-300
Amount remaining of carryover balance2019-11-300
Amount remaining of prefunding balance2019-11-300
Present value of excess contributions2019-11-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-11-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-11-300
Reductions in caryover balances due to elections or deemed elections2019-11-300
Reductions in prefunding balances due to elections or deemed elections2019-11-300
Balance of carryovers at beginning of current year2019-11-300
Balance of prefunding at beginning of current year2019-11-300
Total employer contributions2019-11-300
Total employee contributions2019-11-300
Contributions allocated toward unpaid minimum require contributions from prior years2019-11-300
Contributions made to avoid restrictions adjusted to valuation date2019-11-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-11-300
Unpaid minimum required contributions for all prior years2019-11-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-11-300
Remaining amount of unpaid minimum required contributions2019-11-300
Minimum required contributions for current year target normal cost2019-11-300
Net shortfall amortization installment of oustanding balance2019-11-300
Total funding amount beforereflecting carryover/prefunding balances2019-11-300
Additional cash requirement2019-11-300
Contributions allocatedtoward minimum required contributions for current year2019-11-300
Unpaid minimum required contributions for current year2019-11-300
Unpaid minimum required contributions for all years2019-11-300
2018: PROGRESSIVE ELECTRIC CO., INC. DEFINED BENEFIT PLAN 2018 401k membership
Market value of plan assets2018-11-30783,898
Acturial value of plan assets2018-11-30783,898
Funding target for retired participants and beneficiaries receiving payment2018-11-300
Number of terminated vested participants2018-11-301
Fundng target for terminated vested participants2018-11-309,728
Active participant vested funding target2018-11-30453,866
Number of active participants2018-11-302
Total funding liabilities for active participants2018-11-30453,866
Total participant count2018-11-303
Total funding target for all participants2018-11-30463,594
Balance at beginning of prior year after applicable adjustments2018-11-300
Prefunding balance at beginning of prior year after applicable adjustments2018-11-300
Amount remaining of carryover balance2018-11-300
Amount remaining of prefunding balance2018-11-300
Present value of excess contributions2018-11-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-11-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-11-300
Reductions in caryover balances due to elections or deemed elections2018-11-300
Reductions in prefunding balances due to elections or deemed elections2018-11-300
Balance of carryovers at beginning of current year2018-11-300
Balance of prefunding at beginning of current year2018-11-300
Total employer contributions2018-11-300
Total employee contributions2018-11-300
Unpaid minimum required contributions for all prior years2018-11-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-11-300
Remaining amount of unpaid minimum required contributions2018-11-300
Minimum required contributions for current year target normal cost2018-11-300
Total funding amount beforereflecting carryover/prefunding balances2018-11-300
Additional cash requirement2018-11-300
Unpaid minimum required contributions for current year2018-11-300
Unpaid minimum required contributions for all years2018-11-300
2017: PROGRESSIVE ELECTRIC CO., INC. DEFINED BENEFIT PLAN 2017 401k membership
Market value of plan assets2017-11-30626,204
Acturial value of plan assets2017-11-30626,204
Funding target for retired participants and beneficiaries receiving payment2017-11-300
Number of terminated vested participants2017-11-301
Fundng target for terminated vested participants2017-11-309,730
Active participant vested funding target2017-11-30431,075
Number of active participants2017-11-302
Total funding liabilities for active participants2017-11-30431,075
Total participant count2017-11-303
Total funding target for all participants2017-11-30440,805
Balance at beginning of prior year after applicable adjustments2017-11-300
Prefunding balance at beginning of prior year after applicable adjustments2017-11-300
Carryover balanced portion elected for use to offset prior years funding requirement2017-11-300
Prefunding balanced used to offset prior years funding requirement2017-11-300
Amount remaining of carryover balance2017-11-300
Amount remaining of prefunding balance2017-11-300
Present value of excess contributions2017-11-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-11-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-11-300
Reductions in caryover balances due to elections or deemed elections2017-11-300
Reductions in prefunding balances due to elections or deemed elections2017-11-300
Balance of carryovers at beginning of current year2017-11-300
Balance of prefunding at beginning of current year2017-11-300
Total employer contributions2017-11-300
Total employee contributions2017-11-300
Unpaid minimum required contributions for all prior years2017-11-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-11-300
Remaining amount of unpaid minimum required contributions2017-11-300
Minimum required contributions for current year target normal cost2017-11-300
Total funding amount beforereflecting carryover/prefunding balances2017-11-300
Additional cash requirement2017-11-300
Contributions allocatedtoward minimum required contributions for current year2017-11-300
Unpaid minimum required contributions for current year2017-11-300
Unpaid minimum required contributions for all years2017-11-300

Form 5500 Responses for PROGRESSIVE ELECTRIC CO., INC. DEFINED BENEFIT PLAN

2008: PROGRESSIVE ELECTRIC CO., INC. DEFINED BENEFIT PLAN 2008 form 5500 responses
2008-12-01Type of plan entitySingle employer plan
2008-12-01Submission has been amendedNo
2008-12-01This submission is the final filingNo
2008-12-01This return/report is a short plan year return/report (less than 12 months)No
2008-12-01Plan is a collectively bargained planNo

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