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MCGOWAN BUILDERS INC. DEFINED BENEFIT PLAN 401k Plan overview

Plan NameMCGOWAN BUILDERS INC. DEFINED BENEFIT PLAN
Plan identification number 002

MCGOWAN BUILDERS INC. DEFINED BENEFIT PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related

401k Sponsoring company profile

MCGOWAN BUILDERS INC has sponsored the creation of one or more 401k plans.

Company Name:MCGOWAN BUILDERS INC
Employer identification number (EIN):223812539
NAIC Classification:236200

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MCGOWAN BUILDERS INC. DEFINED BENEFIT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01CHRIS FLORES2023-10-06
0022021-01-01CHRIS FLORES2022-10-10
0022020-01-01CHRIS FLORES2021-09-03
0022019-01-01CHRIS FLORES2020-10-12
0022018-01-01A. FORTE MALDONADO2019-10-09
0022017-01-01

Plan Statistics for MCGOWAN BUILDERS INC. DEFINED BENEFIT PLAN

401k plan membership statisitcs for MCGOWAN BUILDERS INC. DEFINED BENEFIT PLAN

Measure Date Value
2022: MCGOWAN BUILDERS INC. DEFINED BENEFIT PLAN 2022 401k membership
Market value of plan assets2022-12-311,463,136
Acturial value of plan assets2022-12-311,463,136
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-3117
Fundng target for terminated vested participants2022-12-3125,641
Active participant vested funding target2022-12-311,144,106
Number of active participants2022-12-3121
Total funding liabilities for active participants2022-12-311,436,682
Total participant count2022-12-3138
Total funding target for all participants2022-12-311,462,323
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2022-12-310
Prefunding balanced used to offset prior years funding requirement2022-12-310
Amount remaining of carryover balance2022-12-310
Amount remaining of prefunding balance2022-12-310
Present value of excess contributions2022-12-3131,130
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-3132,842
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-310
Reductions in caryover balances due to elections or deemed elections2022-12-310
Reductions in prefunding balances due to elections or deemed elections2022-12-310
Balance of carryovers at beginning of current year2022-12-310
Balance of prefunding at beginning of current year2022-12-310
Total employer contributions2022-12-31213,505
Total employee contributions2022-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2022-12-310
Contributions made to avoid restrictions adjusted to valuation date2022-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-12-31195,283
Liquidity shortfalls end of Q12022-12-310
Liquidity shortfalls end of Q22022-12-310
Liquidity shortfalls end of Q32022-12-310
Liquidity shortfalls end of Q42022-12-310
Unpaid minimum required contributions for all prior years2022-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-12-310
Remaining amount of unpaid minimum required contributions2022-12-310
Minimum required contributions for current year target normal cost2022-12-31194,569
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-31193,756
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-31193,756
Contributions allocatedtoward minimum required contributions for current year2022-12-31195,283
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: MCGOWAN BUILDERS INC. DEFINED BENEFIT PLAN 2021 401k membership
Market value of plan assets2021-12-311,217,734
Acturial value of plan assets2021-12-311,217,734
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-3115
Fundng target for terminated vested participants2021-12-3111,053
Active participant vested funding target2021-12-31725,756
Number of active participants2021-12-3125
Total funding liabilities for active participants2021-12-311,211,467
Total participant count2021-12-3140
Total funding target for all participants2021-12-311,222,520
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2021-12-310
Prefunding balanced used to offset prior years funding requirement2021-12-310
Amount remaining of carryover balance2021-12-310
Amount remaining of prefunding balance2021-12-310
Present value of excess contributions2021-12-316,833
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-317,209
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-310
Reductions in caryover balances due to elections or deemed elections2021-12-310
Reductions in prefunding balances due to elections or deemed elections2021-12-310
Balance of carryovers at beginning of current year2021-12-310
Balance of prefunding at beginning of current year2021-12-310
Total employer contributions2021-12-31200,309
Total employee contributions2021-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2021-12-310
Contributions made to avoid restrictions adjusted to valuation date2021-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-12-31187,028
Unpaid minimum required contributions for all prior years2021-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-12-310
Remaining amount of unpaid minimum required contributions2021-12-310
Minimum required contributions for current year target normal cost2021-12-31155,452
Net shortfall amortization installment of oustanding balance2021-12-314,786
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-31155,898
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-31155,898
Contributions allocatedtoward minimum required contributions for current year2021-12-31187,028
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: MCGOWAN BUILDERS INC. DEFINED BENEFIT PLAN 2020 401k membership
Market value of plan assets2020-12-31838,758
Acturial value of plan assets2020-12-31838,758
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-3112
Fundng target for terminated vested participants2020-12-317,729
Active participant vested funding target2020-12-31327,169
Number of active participants2020-12-3124
Total funding liabilities for active participants2020-12-31819,047
Total participant count2020-12-3136
Total funding target for all participants2020-12-31826,776
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2020-12-310
Prefunding balanced used to offset prior years funding requirement2020-12-310
Amount remaining of carryover balance2020-12-310
Amount remaining of prefunding balance2020-12-310
Present value of excess contributions2020-12-312,709
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-312,858
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-310
Reductions in caryover balances due to elections or deemed elections2020-12-310
Reductions in prefunding balances due to elections or deemed elections2020-12-310
Balance of carryovers at beginning of current year2020-12-310
Balance of prefunding at beginning of current year2020-12-310
Total employer contributions2020-12-31143,977
Total employee contributions2020-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2020-12-310
Contributions made to avoid restrictions adjusted to valuation date2020-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-12-31131,359
Unpaid minimum required contributions for all prior years2020-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-12-310
Remaining amount of unpaid minimum required contributions2020-12-310
Minimum required contributions for current year target normal cost2020-12-31137,876
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-31125,894
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-31125,894
Contributions allocatedtoward minimum required contributions for current year2020-12-31131,359
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: MCGOWAN BUILDERS INC. DEFINED BENEFIT PLAN 2019 401k membership
Market value of plan assets2019-12-31589,588
Acturial value of plan assets2019-12-31589,588
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-312
Fundng target for terminated vested participants2019-12-31423
Active participant vested funding target2019-12-31121,243
Number of active participants2019-12-3134
Total funding liabilities for active participants2019-12-31606,213
Total participant count2019-12-3136
Total funding target for all participants2019-12-31606,636
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2019-12-310
Prefunding balanced used to offset prior years funding requirement2019-12-310
Amount remaining of carryover balance2019-12-310
Amount remaining of prefunding balance2019-12-310
Present value of excess contributions2019-12-316,886
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-317,265
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-310
Reductions in caryover balances due to elections or deemed elections2019-12-310
Reductions in prefunding balances due to elections or deemed elections2019-12-310
Balance of carryovers at beginning of current year2019-12-310
Balance of prefunding at beginning of current year2019-12-310
Total employer contributions2019-12-31197,000
Total employee contributions2019-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2019-12-310
Contributions made to avoid restrictions adjusted to valuation date2019-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-12-31177,449
Liquidity shortfalls end of Q12019-12-310
Liquidity shortfalls end of Q22019-12-310
Liquidity shortfalls end of Q32019-12-310
Liquidity shortfalls end of Q42019-12-310
Unpaid minimum required contributions for all prior years2019-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-12-310
Remaining amount of unpaid minimum required contributions2019-12-310
Minimum required contributions for current year target normal cost2019-12-31171,846
Net shortfall amortization installment of oustanding balance2019-12-3117,048
Total funding amount beforereflecting carryover/prefunding balances2019-12-31174,740
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-31174,740
Contributions allocatedtoward minimum required contributions for current year2019-12-31177,449
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: MCGOWAN BUILDERS INC. DEFINED BENEFIT PLAN 2018 401k membership
Market value of plan assets2018-12-31277,115
Acturial value of plan assets2018-12-31277,115
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-310
Fundng target for terminated vested participants2018-12-310
Active participant vested funding target2018-12-310
Number of active participants2018-12-3130
Total funding liabilities for active participants2018-12-31279,624
Total participant count2018-12-3130
Total funding target for all participants2018-12-31279,624
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2018-12-310
Prefunding balanced used to offset prior years funding requirement2018-12-310
Amount remaining of carryover balance2018-12-310
Amount remaining of prefunding balance2018-12-310
Present value of excess contributions2018-12-315,976
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-316,305
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-310
Reductions in caryover balances due to elections or deemed elections2018-12-310
Reductions in prefunding balances due to elections or deemed elections2018-12-310
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-310
Total employer contributions2018-12-31332,581
Total employee contributions2018-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2018-12-310
Contributions made to avoid restrictions adjusted to valuation date2018-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-12-31310,485
Unpaid minimum required contributions for all prior years2018-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-12-310
Remaining amount of unpaid minimum required contributions2018-12-310
Minimum required contributions for current year target normal cost2018-12-31303,181
Net shortfall amortization installment of oustanding balance2018-12-312,509
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31303,599
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-31303,599
Contributions allocatedtoward minimum required contributions for current year2018-12-31310,485
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: MCGOWAN BUILDERS INC. DEFINED BENEFIT PLAN 2017 401k membership
Market value of plan assets2017-12-310
Acturial value of plan assets2017-12-310
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-310
Fundng target for terminated vested participants2017-12-310
Active participant vested funding target2017-12-310
Number of active participants2017-12-3123
Total funding liabilities for active participants2017-12-310
Total participant count2017-12-3123
Total funding target for all participants2017-12-310
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2017-12-310
Prefunding balanced used to offset prior years funding requirement2017-12-310
Amount remaining of carryover balance2017-12-310
Amount remaining of prefunding balance2017-12-310
Present value of excess contributions2017-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-12-310
Reductions in caryover balances due to elections or deemed elections2017-12-310
Reductions in prefunding balances due to elections or deemed elections2017-12-310
Balance of carryovers at beginning of current year2017-12-310
Balance of prefunding at beginning of current year2017-12-310
Total employer contributions2017-12-31281,197
Total employee contributions2017-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2017-12-310
Contributions made to avoid restrictions adjusted to valuation date2017-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-12-31262,668
Unpaid minimum required contributions for all prior years2017-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-12-310
Remaining amount of unpaid minimum required contributions2017-12-310
Minimum required contributions for current year target normal cost2017-12-31256,692
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31256,692
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-31256,692
Contributions allocatedtoward minimum required contributions for current year2017-12-31262,668
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310

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