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MARKET SERVICE CORPORATION CASH BALANCE PLAN 401k Plan overview

Plan NameMARKET SERVICE CORPORATION CASH BALANCE PLAN
Plan identification number 004

MARKET SERVICE CORPORATION CASH BALANCE PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Cash balance or similar plan - Plan has a "cash balance" formula. For this purpose, a "cash balance" formula is a benefit formula in a defined benefit plan by whatever name (for example, personal account plan, pension equity plan, life cycle plan, cash account plan, etc.) that rather than, or in addition to, expressing the accrued benefit as a life annuity commencing at normal retirement age, defines benefits for each employee in terms more common to a defined contribution plan such as a single sum distribution amount (for example, 10 percent of final average pay times years of service, or the amount of the employee's hypothetical account balance).
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
  • 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

MARKET SERVICE CORPORATION has sponsored the creation of one or more 401k plans.

Company Name:MARKET SERVICE CORPORATION
Employer identification number (EIN):232095004
NAIC Classification:541330
NAIC Description:Engineering Services

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MARKET SERVICE CORPORATION CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0042021-01-01
0042020-01-01
0042019-01-01
0042018-01-01
0042017-01-01
0042016-01-01
0042015-01-01JOHN SALYERS2016-10-13
0042014-01-01JOHN SALYERS2015-10-14
0042013-01-01JOHN SALYERS2014-10-08
0042012-01-01JOHN SALYERS2013-10-15
0042011-01-01JOHN SALYERS2012-10-15
0042010-01-01JOHN SALYERS2011-10-14

Plan Statistics for MARKET SERVICE CORPORATION CASH BALANCE PLAN

401k plan membership statisitcs for MARKET SERVICE CORPORATION CASH BALANCE PLAN

Measure Date Value
2021: MARKET SERVICE CORPORATION CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-313,361,937
Acturial value of plan assets2021-12-313,361,937
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-310
Fundng target for terminated vested participants2021-12-310
Active participant vested funding target2021-12-313,333,379
Number of active participants2021-12-312
Total funding liabilities for active participants2021-12-313,333,379
Total participant count2021-12-312
Total funding target for all participants2021-12-313,333,379
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 contributions2021-12-313,348
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-313,348
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 contributions2021-12-31223,000
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 date2021-12-31228,279
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 cost2021-12-31223,460
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-31194,902
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-31194,902
Contributions allocatedtoward minimum required contributions for current year2021-12-31228,279
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: MARKET SERVICE CORPORATION CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-312,933,370
Acturial value of plan assets2020-12-312,933,370
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-310
Fundng target for terminated vested participants2020-12-310
Active participant vested funding target2020-12-312,930,234
Number of active participants2020-12-312
Total funding liabilities for active participants2020-12-312,930,234
Total participant count2020-12-312
Total funding target for all participants2020-12-312,930,234
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 contributions2020-12-3191,405
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-3191,405
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 contributions2020-12-31223,000
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 date2020-12-31222,086
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 cost2020-12-31221,874
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-31218,738
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-31218,738
Contributions allocatedtoward minimum required contributions for current year2020-12-31222,086
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: MARKET SERVICE CORPORATION CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-312,663,275
Acturial value of plan assets2019-12-312,663,275
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-310
Fundng target for terminated vested participants2019-12-310
Active participant vested funding target2019-12-312,570,883
Number of active participants2019-12-312
Total funding liabilities for active participants2019-12-312,570,883
Total participant count2019-12-312
Total funding target for all participants2019-12-312,570,883
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 contributions2019-12-312,998
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-312,998
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 contributions2019-12-31223,000
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 date2019-12-31221,064
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 cost2019-12-31222,051
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31129,659
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-31129,659
Contributions allocatedtoward minimum required contributions for current year2019-12-31221,064
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: MARKET SERVICE CORPORATION CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-312,104,979
Acturial value of plan assets2018-12-312,104,979
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 target2018-12-312,219,565
Number of active participants2018-12-312
Total funding liabilities for active participants2018-12-312,219,565
Total participant count2018-12-312
Total funding target for all participants2018-12-312,219,565
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-31454
Carryover balanced portion elected for use to offset prior years funding requirement2018-12-310
Prefunding balanced used to offset prior years funding requirement2018-12-31454
Amount remaining of carryover balance2018-12-310
Amount remaining of prefunding balance2018-12-310
Present value of excess contributions2018-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-310
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 contributions2018-12-31243,000
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 date2018-12-31243,073
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 cost2018-12-31221,369
Net shortfall amortization installment of oustanding balance2018-12-31114,586
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31240,075
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-31240,075
Contributions allocatedtoward minimum required contributions for current year2018-12-31243,073
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: MARKET SERVICE CORPORATION CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-12-311,948,733
Acturial value of plan assets2017-12-311,948,733
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 target2017-12-311,908,847
Number of active participants2017-12-312
Total funding liabilities for active participants2017-12-311,908,847
Total participant count2017-12-312
Total funding target for all participants2017-12-311,908,847
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-31387
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 balance2017-12-31387
Present value of excess contributions2017-12-3143,701
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3143,701
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 year2017-12-31454
Total employer contributions2017-12-31223,000
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 date2017-12-31220,380
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 cost2017-12-31223,280
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31183,870
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-31465
Additional cash requirement2017-12-31183,405
Contributions allocatedtoward minimum required contributions for current year2017-12-31220,380
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: MARKET SERVICE CORPORATION CASH BALANCE PLAN 2016 401k membership
Market value of plan assets2016-12-311,627,918
Acturial value of plan assets2016-12-311,627,918
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-310
Fundng target for terminated vested participants2016-12-310
Active participant vested funding target2016-12-311,580,732
Number of active participants2016-12-312
Total funding liabilities for active participants2016-12-311,580,732
Total participant count2016-12-312
Total funding target for all participants2016-12-311,580,732
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-3124,452
Carryover balanced portion elected for use to offset prior years funding requirement2016-12-310
Prefunding balanced used to offset prior years funding requirement2016-12-3124,040
Amount remaining of carryover balance2016-12-310
Amount remaining of prefunding balance2016-12-31412
Present value of excess contributions2016-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2016-12-310
Reductions in caryover balances due to elections or deemed elections2016-12-310
Reductions in prefunding balances due to elections or deemed elections2016-12-310
Balance of carryovers at beginning of current year2016-12-310
Balance of prefunding at beginning of current year2016-12-31387
Total employer contributions2016-12-31223,000
Total employee contributions2016-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2016-12-310
Contributions made to avoid restrictions adjusted to valuation date2016-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2016-12-31220,510
Liquidity shortfalls end of Q12016-12-310
Liquidity shortfalls end of Q22016-12-310
Liquidity shortfalls end of Q32016-12-310
Liquidity shortfalls end of Q42016-12-310
Unpaid minimum required contributions for all prior years2016-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2016-12-310
Remaining amount of unpaid minimum required contributions2016-12-310
Minimum required contributions for current year target normal cost2016-12-31221,329
Net shortfall amortization installment of oustanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-31174,530
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-31174,530
Contributions allocatedtoward minimum required contributions for current year2016-12-31220,510
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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