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B & K FARMS, LLC CASH BALANCE PENSION PLAN 401k Plan overview

Plan NameB & K FARMS, LLC CASH BALANCE PENSION PLAN
Plan identification number 003

B & K FARMS, LLC CASH BALANCE PENSION PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily flat dollar (includes dollars per year of service)
  • 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).
  • 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).
  • Plan covering Self-Employed individuals.
  • 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

B AND K FARMS, LLC has sponsored the creation of one or more 401k plans.

Company Name:B AND K FARMS, LLC
Employer identification number (EIN):521913044
NAIC Classification:111210
NAIC Description:Vegetable and Melon Farming

Form 5500 Filing Information

Submission information for form 5500 for 401k plan B & K FARMS, LLC CASH BALANCE PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032024-01-01RICHARD HARDING2024-07-10
0032023-01-01RICHARD HARDING2024-07-05
0032022-01-01RICHARD HARDING2023-10-02
0032021-01-01RICHARD HARDING2022-09-28
0032020-01-01RICHARD HARDING2021-07-15
0032019-01-01RICHARD HARDING2020-09-08
0032018-01-01RICHARD HARDING2019-10-01
0032017-01-01RICHARD HARDING2018-07-28
0032016-01-01RICHARD HARDING2017-09-19
0032016-01-01RICHARD HARDING2018-07-28
0032015-01-01RICHARD HARDING2016-07-28
0032014-01-01RICHARD HARDING2015-07-03 RICHARD HARDING2015-07-03
0032013-01-01RICHARD HARDING2014-09-29 RICHARD HARDING2014-09-29

Plan Statistics for B & K FARMS, LLC CASH BALANCE PENSION PLAN

401k plan membership statisitcs for B & K FARMS, LLC CASH BALANCE PENSION PLAN

Measure Date Value
2022: B & K FARMS, LLC CASH BALANCE PENSION PLAN 2022 401k membership
Market value of plan assets2022-12-311,907,260
Acturial value of plan assets2022-12-311,907,260
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-310
Fundng target for terminated vested participants2022-12-310
Active participant vested funding target2022-12-311,205,129
Number of active participants2022-12-314
Total funding liabilities for active participants2022-12-311,205,129
Total participant count2022-12-314
Total funding target for all participants2022-12-311,205,129
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-31366,790
Amount remaining of carryover balance2022-12-310
Amount remaining of prefunding balance2022-12-31366,790
Present value of excess contributions2022-12-31230,515
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31242,571
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-31200,662
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 year2022-12-31603,911
Total employer contributions2022-12-31250,000
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 date2022-12-31232,135
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 cost2022-12-3198,220
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-310
Additional cash requirement2022-12-310
Contributions allocatedtoward minimum required contributions for current year2022-12-31232,135
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: B & K FARMS, LLC CASH BALANCE PENSION PLAN 2021 401k membership
Market value of plan assets2021-12-311,515,935
Acturial value of plan assets2021-12-311,515,935
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 target2021-12-311,050,003
Number of active participants2021-12-314
Total funding liabilities for active participants2021-12-311,050,003
Total participant count2021-12-314
Total funding target for all participants2021-12-311,050,003
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-31154,509
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 balance2021-12-31154,509
Present value of excess contributions2021-12-31233,292
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-31246,193
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-31194,373
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 year2021-12-31366,790
Total employer contributions2021-12-31250,000
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 date2021-12-31230,515
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 cost2021-12-3199,142
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-310
Additional cash requirement2021-12-310
Contributions allocatedtoward minimum required contributions for current year2021-12-31230,515
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: B & K FARMS, LLC CASH BALANCE PENSION PLAN 2020 401k membership
Market value of plan assets2020-12-311,140,396
Acturial value of plan assets2020-12-311,140,396
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-311
Fundng target for terminated vested participants2020-12-313,375
Active participant vested funding target2020-12-31885,236
Number of active participants2020-12-314
Total funding liabilities for active participants2020-12-31885,236
Total participant count2020-12-315
Total funding target for all participants2020-12-31888,611
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-31228,680
Prefunding balanced used to offset prior years funding requirement2020-12-3199,156
Amount remaining of carryover balance2020-12-310
Amount remaining of prefunding balance2020-12-31129,524
Present value of excess contributions2020-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-310
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 year2020-12-31154,509
Total employer contributions2020-12-31250,000
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 date2020-12-31234,527
Liquidity shortfalls end of Q12020-12-310
Liquidity shortfalls end of Q22020-12-310
Liquidity shortfalls end of Q32020-12-310
Liquidity shortfalls end of Q42020-12-310
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 cost2020-12-3198,511
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-311,235
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-311,235
Contributions allocatedtoward minimum required contributions for current year2020-12-31234,527
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: B & K FARMS, LLC CASH BALANCE PENSION PLAN 2019 401k membership
Market value of plan assets2019-12-31955,999
Acturial value of plan assets2019-12-31955,999
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 target2019-12-31732,506
Number of active participants2019-12-315
Total funding liabilities for active participants2019-12-31732,506
Total participant count2019-12-315
Total funding target for all participants2019-12-31732,506
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-31249,025
Amount remaining of carryover balance2019-12-310
Amount remaining of prefunding balance2019-12-31249,025
Present value of excess contributions2019-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-310
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 year2019-12-31228,680
Total employer contributions2019-12-310
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 date2019-12-310
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 cost2019-12-3198,313
Net shortfall amortization installment of oustanding balance2019-12-315,187
Total funding amount beforereflecting carryover/prefunding balances2019-12-3199,156
Prefunding balance elected to use to offset funding requirement2019-12-3199,156
Additional cash requirement2019-12-310
Contributions allocatedtoward minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: B & K FARMS, LLC CASH BALANCE PENSION PLAN 2018 401k membership
Market value of plan assets2018-12-311,034,553
Acturial value of plan assets2018-12-311,034,553
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 target2018-12-31608,219
Number of active participants2018-12-315
Total funding liabilities for active participants2018-12-31608,219
Total participant count2018-12-315
Total funding target for all participants2018-12-31608,219
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-3113,020
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 balance2018-12-3113,020
Present value of excess contributions2018-12-31234,126
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-31247,565
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-31234,126
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-31249,025
Total employer contributions2018-12-310
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 date2018-12-310
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 cost2018-12-31100,713
Net shortfall amortization installment of oustanding balance2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-310
Additional cash requirement2018-12-310
Contributions allocatedtoward minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: B & K FARMS, LLC CASH BALANCE PENSION PLAN 2017 401k membership
Market value of plan assets2017-12-31699,603
Acturial value of plan assets2017-12-31699,603
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 target2017-12-31467,979
Number of active participants2017-12-315
Total funding liabilities for active participants2017-12-31467,979
Total participant count2017-12-315
Total funding target for all participants2017-12-31467,979
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-3112,085
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 balance2017-12-3112,085
Present value of excess contributions2017-12-31204,656
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-31216,792
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-12-310
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 year2017-12-3113,020
Total employer contributions2017-12-31250,000
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 date2017-12-31234,126
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 cost2017-12-3199,984
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-310
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-310
Contributions allocatedtoward minimum required contributions for current year2017-12-31234,126
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: B & K FARMS, LLC CASH BALANCE PENSION PLAN 2016 401k membership
Market value of plan assets2016-12-31426,756
Acturial value of plan assets2016-12-31426,756
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 target2016-12-31336,978
Number of active participants2016-12-315
Total funding liabilities for active participants2016-12-31336,978
Total participant count2016-12-315
Total funding target for all participants2016-12-31336,978
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-3112,620
Carryover balanced portion elected for use to offset prior years funding requirement2016-12-310
Prefunding balanced used to offset prior years funding requirement2016-12-310
Amount remaining of carryover balance2016-12-310
Amount remaining of prefunding balance2016-12-3112,620
Present value of excess contributions2016-12-3180,817
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-3185,763
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2016-12-310
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 year2016-12-3112,085
Total employer contributions2016-12-31250,000
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 date2016-12-31226,166
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 cost2016-12-3199,203
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-3121,510
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-3121,510
Contributions allocatedtoward minimum required contributions for current year2016-12-31226,166
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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