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FIRST FEDERAL SAVINGS BANK DEFINED BENEFIT PLAN 401k Plan overview

Plan NameFIRST FEDERAL SAVINGS BANK DEFINED BENEFIT PLAN
Plan identification number 002

FIRST FEDERAL SAVINGS BANK DEFINED BENEFIT PLAN Benefits

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

FIRST FEDERAL SAVINGS BANK has sponsored the creation of one or more 401k plans.

Company Name:FIRST FEDERAL SAVINGS BANK
Employer identification number (EIN):350576640
NAIC Classification:522110
NAIC Description:Commercial Banking

Additional information about FIRST FEDERAL SAVINGS BANK

Jurisdiction of Incorporation: Vermont Secretary of State Corporations Division
Incorporation Date: 2009-09-04
Company Identification Number: 88461
Legal Registered Office Address: 30 KIMBALL AVE, STE 102

SO BURLINGTON
United States of America (USA)
05403

More information about FIRST FEDERAL SAVINGS BANK

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FIRST FEDERAL SAVINGS BANK DEFINED BENEFIT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022021-07-01CHRISTOPHER D COOK2022-11-08
0022021-05-01CHRISTOPHER D COOK2022-04-14

Plan Statistics for FIRST FEDERAL SAVINGS BANK DEFINED BENEFIT PLAN

401k plan membership statisitcs for FIRST FEDERAL SAVINGS BANK DEFINED BENEFIT PLAN

Measure Date Value
2022: FIRST FEDERAL SAVINGS BANK DEFINED BENEFIT PLAN 2022 401k membership
Market value of plan assets2022-05-311,188,593
Acturial value of plan assets2022-05-311,188,593
Funding target for retired participants and beneficiaries receiving payment2022-05-31145,126
Number of terminated vested participants2022-05-3113
Fundng target for terminated vested participants2022-05-31130,111
Active participant vested funding target2022-05-31475,302
Number of active participants2022-05-3117
Total funding liabilities for active participants2022-05-31475,302
Total participant count2022-05-3133
Total funding target for all participants2022-05-31750,539
Balance at beginning of prior year after applicable adjustments2022-05-310
Prefunding balance at beginning of prior year after applicable adjustments2022-05-310
Carryover balanced portion elected for use to offset prior years funding requirement2022-05-310
Prefunding balanced used to offset prior years funding requirement2022-05-310
Amount remaining of carryover balance2022-05-310
Amount remaining of prefunding balance2022-05-310
Present value of excess contributions2022-05-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-05-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-05-310
Reductions in caryover balances due to elections or deemed elections2022-05-310
Reductions in prefunding balances due to elections or deemed elections2022-05-310
Balance of carryovers at beginning of current year2022-05-310
Balance of prefunding at beginning of current year2022-05-310
Total employer contributions2022-05-31129,789
Total employee contributions2022-05-310
Contributions allocated toward unpaid minimum require contributions from prior years2022-05-310
Contributions made to avoid restrictions adjusted to valuation date2022-05-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-05-31123,934
Unpaid minimum required contributions for all prior years2022-05-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-05-310
Remaining amount of unpaid minimum required contributions2022-05-310
Minimum required contributions for current year target normal cost2022-05-3136,000
Net shortfall amortization installment of oustanding balance2022-05-310
Waiver amortization installment2022-05-310
Total funding amount beforereflecting carryover/prefunding balances2022-05-310
Additional cash requirement2022-05-310
Contributions allocatedtoward minimum required contributions for current year2022-05-31123,934
Unpaid minimum required contributions for current year2022-05-310
Unpaid minimum required contributions for all years2022-05-310
2021: FIRST FEDERAL SAVINGS BANK DEFINED BENEFIT PLAN 2021 401k membership
Market value of plan assets2021-06-301,182,501
Acturial value of plan assets2021-06-301,182,501
Funding target for retired participants and beneficiaries receiving payment2021-06-30145,823
Number of terminated vested participants2021-06-3013
Fundng target for terminated vested participants2021-06-30128,738
Active participant vested funding target2021-06-30470,489
Number of active participants2021-06-3017
Total funding liabilities for active participants2021-06-30470,489
Total participant count2021-06-3033
Total funding target for all participants2021-06-30745,050
Amount remaining of carryover balance2021-06-300
Amount remaining of prefunding balance2021-06-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-06-300
Reductions in caryover balances due to elections or deemed elections2021-06-300
Reductions in prefunding balances due to elections or deemed elections2021-06-300
Balance of carryovers at beginning of current year2021-06-300
Balance of prefunding at beginning of current year2021-06-300
Total employer contributions2021-06-300
Total employee contributions2021-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2021-06-300
Contributions made to avoid restrictions adjusted to valuation date2021-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-06-300
Unpaid minimum required contributions for all prior years2021-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-06-300
Remaining amount of unpaid minimum required contributions2021-06-300
Minimum required contributions for current year target normal cost2021-06-300
Net shortfall amortization installment of oustanding balance2021-06-300
Waiver amortization installment2021-06-300
Total funding amount beforereflecting carryover/prefunding balances2021-06-300
Additional cash requirement2021-06-300
Contributions allocatedtoward minimum required contributions for current year2021-06-300
Unpaid minimum required contributions for current year2021-06-300
Unpaid minimum required contributions for all years2021-06-300

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