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VBA MASTER DEFINED BENEFIT PLAN FOR LEE BANK & TRUST COMPANY 401k Plan overview

Plan NameVBA MASTER DEFINED BENEFIT PLAN FOR LEE BANK & TRUST COMPANY
Plan identification number 003

VBA MASTER DEFINED BENEFIT PLAN FOR LEE BANK & TRUST COMPANY 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

LEE BANK & TRUST COMPANY has sponsored the creation of one or more 401k plans.

Company Name:LEE BANK & TRUST COMPANY
Employer identification number (EIN):540279494
NAIC Classification:522110
NAIC Description:Commercial Banking

Additional information about LEE BANK & TRUST COMPANY

Jurisdiction of Incorporation: Virginia Secretary of State
Incorporation Date: 1932-08-17
Company Identification Number: 0038597
Legal Registered Office Address: 41371 WEST MORGAN AVE
PO BOX 703
PENNINGTON GAP
United States of America (USA)
24277

More information about LEE BANK & TRUST COMPANY

Form 5500 Filing Information

Submission information for form 5500 for 401k plan VBA MASTER DEFINED BENEFIT PLAN FOR LEE BANK & TRUST COMPANY

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032022-10-01MICHELLE MILLER2023-12-14 MICHELLE MILLER2023-12-14
0032021-10-01MICHELLE MILLER2023-06-23 MICHELLE MILLER2023-06-23
0032020-10-01MICHELLE MILLER2022-04-22 MICHELLE MILLER2022-04-22
0032019-10-01MICHELLE MILLER2021-04-21 MICHELLE MILLER2021-04-21
0032018-10-01MICHELLE MILLER2020-06-18 MICHELLE MILLER2020-06-18
0032017-10-01MICHELLE MILLER2019-05-03 MICHELLE MILLER2019-05-03
0032016-10-01DEBORAH PENDLETON2018-06-18 DEBORAH PENDLETON2018-06-18
0032015-10-01DEBORAH PENDLETON2017-07-06 DEBORAH PENDLETON2017-07-06
0032014-10-01DEBORAH PENDLETON2016-06-22 DEBORAH PENDLETON2016-06-22
0032013-10-01DEBORAH PENDLETON2015-04-22 DEBORAH PENDLETON2015-04-22
0032012-10-01DEBORAH PENDLETON2014-04-23
0032011-10-01DEBORAH PENDLETON2013-04-25
0032010-10-01DEBORAH PENDLETON2012-04-19

Plan Statistics for VBA MASTER DEFINED BENEFIT PLAN FOR LEE BANK & TRUST COMPANY

401k plan membership statisitcs for VBA MASTER DEFINED BENEFIT PLAN FOR LEE BANK & TRUST COMPANY

Measure Date Value
2022: VBA MASTER DEFINED BENEFIT PLAN FOR LEE BANK & TRUST COMPANY 2022 401k membership
Market value of plan assets2022-09-305,846,566
Acturial value of plan assets2022-09-305,581,911
Funding target for retired participants and beneficiaries receiving payment2022-09-302,660,039
Number of terminated vested participants2022-09-309
Fundng target for terminated vested participants2022-09-3095,778
Active participant vested funding target2022-09-302,241,866
Number of active participants2022-09-3042
Total funding liabilities for active participants2022-09-302,243,654
Total participant count2022-09-3077
Total funding target for all participants2022-09-304,999,471
Balance at beginning of prior year after applicable adjustments2022-09-300
Prefunding balance at beginning of prior year after applicable adjustments2022-09-301,008,651
Carryover balanced portion elected for use to offset prior years funding requirement2022-09-300
Prefunding balanced used to offset prior years funding requirement2022-09-300
Amount remaining of carryover balance2022-09-300
Amount remaining of prefunding balance2022-09-301,008,651
Present value of excess contributions2022-09-30166,041
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-09-30175,057
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-09-300
Reductions in caryover balances due to elections or deemed elections2022-09-300
Reductions in prefunding balances due to elections or deemed elections2022-09-300
Balance of carryovers at beginning of current year2022-09-300
Balance of prefunding at beginning of current year2022-09-301,136,951
Total employer contributions2022-09-300
Total employee contributions2022-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2022-09-300
Contributions made to avoid restrictions adjusted to valuation date2022-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-09-300
Unpaid minimum required contributions for all prior years2022-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-09-300
Remaining amount of unpaid minimum required contributions2022-09-300
Minimum required contributions for current year target normal cost2022-09-305,650
Net shortfall amortization installment of oustanding balance2022-09-30554,511
Waiver amortization installment2022-09-300
Total funding amount beforereflecting carryover/prefunding balances2022-09-3027,882
Carryover balance elected to use to offset funding requirement2022-09-300
Prefunding balance elected to use to offset funding requirement2022-09-3027,882
Additional cash requirement2022-09-300
Contributions allocatedtoward minimum required contributions for current year2022-09-300
Unpaid minimum required contributions for current year2022-09-300
Unpaid minimum required contributions for all years2022-09-300
2021: VBA MASTER DEFINED BENEFIT PLAN FOR LEE BANK & TRUST COMPANY 2021 401k membership
Market value of plan assets2021-09-305,132,984
Acturial value of plan assets2021-09-305,079,241
Funding target for retired participants and beneficiaries receiving payment2021-09-302,555,460
Number of terminated vested participants2021-09-307
Fundng target for terminated vested participants2021-09-3080,307
Active participant vested funding target2021-09-301,913,511
Number of active participants2021-09-3045
Total funding liabilities for active participants2021-09-301,914,012
Total participant count2021-09-3076
Total funding target for all participants2021-09-304,549,779
Balance at beginning of prior year after applicable adjustments2021-09-300
Prefunding balance at beginning of prior year after applicable adjustments2021-09-30932,382
Carryover balanced portion elected for use to offset prior years funding requirement2021-09-300
Prefunding balanced used to offset prior years funding requirement2021-09-300
Amount remaining of carryover balance2021-09-300
Amount remaining of prefunding balance2021-09-30932,382
Present value of excess contributions2021-09-30190,621
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-09-30201,258
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-09-300
Reductions in caryover balances due to elections or deemed elections2021-09-300
Reductions in prefunding balances due to elections or deemed elections2021-09-300
Balance of carryovers at beginning of current year2021-09-300
Balance of prefunding at beginning of current year2021-09-301,008,651
Total employer contributions2021-09-30320,000
Total employee contributions2021-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2021-09-300
Contributions made to avoid restrictions adjusted to valuation date2021-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-09-30310,138
Unpaid minimum required contributions for all prior years2021-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-09-300
Remaining amount of unpaid minimum required contributions2021-09-300
Minimum required contributions for current year target normal cost2021-09-30144,097
Net shortfall amortization installment of oustanding balance2021-09-300
Waiver amortization installment2021-09-300
Total funding amount beforereflecting carryover/prefunding balances2021-09-30144,097
Carryover balance elected to use to offset funding requirement2021-09-300
Prefunding balance elected to use to offset funding requirement2021-09-300
Additional cash requirement2021-09-30144,097
Contributions allocatedtoward minimum required contributions for current year2021-09-30310,138
Unpaid minimum required contributions for current year2021-09-300
Unpaid minimum required contributions for all years2021-09-300
2020: VBA MASTER DEFINED BENEFIT PLAN FOR LEE BANK & TRUST COMPANY 2020 401k membership
Market value of plan assets2020-09-304,692,742
Acturial value of plan assets2020-09-304,734,564
Funding target for retired participants and beneficiaries receiving payment2020-09-302,365,448
Number of terminated vested participants2020-09-308
Fundng target for terminated vested participants2020-09-3075,066
Active participant vested funding target2020-09-301,874,927
Number of active participants2020-09-3044
Total funding liabilities for active participants2020-09-301,879,222
Total participant count2020-09-3075
Total funding target for all participants2020-09-304,319,736
Balance at beginning of prior year after applicable adjustments2020-09-300
Prefunding balance at beginning of prior year after applicable adjustments2020-09-30883,523
Carryover balanced portion elected for use to offset prior years funding requirement2020-09-300
Prefunding balanced used to offset prior years funding requirement2020-09-300
Amount remaining of carryover balance2020-09-300
Amount remaining of prefunding balance2020-09-30883,523
Present value of excess contributions2020-09-30154,838
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-09-30163,695
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-09-300
Reductions in caryover balances due to elections or deemed elections2020-09-300
Reductions in prefunding balances due to elections or deemed elections2020-09-300
Balance of carryovers at beginning of current year2020-09-300
Balance of prefunding at beginning of current year2020-09-30932,382
Total employer contributions2020-09-30320,000
Total employee contributions2020-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2020-09-300
Contributions made to avoid restrictions adjusted to valuation date2020-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-09-30309,842
Unpaid minimum required contributions for all prior years2020-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-09-300
Remaining amount of unpaid minimum required contributions2020-09-300
Minimum required contributions for current year target normal cost2020-09-30119,221
Net shortfall amortization installment of oustanding balance2020-09-300
Waiver amortization installment2020-09-300
Total funding amount beforereflecting carryover/prefunding balances2020-09-30119,221
Carryover balance elected to use to offset funding requirement2020-09-300
Prefunding balance elected to use to offset funding requirement2020-09-300
Additional cash requirement2020-09-30119,221
Contributions allocatedtoward minimum required contributions for current year2020-09-30309,842
Unpaid minimum required contributions for current year2020-09-300
Unpaid minimum required contributions for all years2020-09-300
2019: VBA MASTER DEFINED BENEFIT PLAN FOR LEE BANK & TRUST COMPANY 2019 401k membership
Market value of plan assets2019-09-304,349,749
Acturial value of plan assets2019-09-304,361,414
Funding target for retired participants and beneficiaries receiving payment2019-09-301,304,860
Number of terminated vested participants2019-09-307
Fundng target for terminated vested participants2019-09-30110,702
Active participant vested funding target2019-09-302,773,203
Number of active participants2019-09-3049
Total funding liabilities for active participants2019-09-302,781,404
Total participant count2019-09-3076
Total funding target for all participants2019-09-304,196,966
Balance at beginning of prior year after applicable adjustments2019-09-300
Prefunding balance at beginning of prior year after applicable adjustments2019-09-30841,370
Carryover balanced portion elected for use to offset prior years funding requirement2019-09-300
Prefunding balanced used to offset prior years funding requirement2019-09-300
Amount remaining of carryover balance2019-09-300
Amount remaining of prefunding balance2019-09-30841,370
Present value of excess contributions2019-09-30180,335
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-09-30190,975
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-09-300
Reductions in prefunding balances due to elections or deemed elections2019-09-300
Balance of carryovers at beginning of current year2019-09-300
Balance of prefunding at beginning of current year2019-09-30883,523
Total employer contributions2019-09-30295,000
Total employee contributions2019-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2019-09-300
Contributions made to avoid restrictions adjusted to valuation date2019-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-09-30284,934
Unpaid minimum required contributions for all prior years2019-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-09-300
Remaining amount of unpaid minimum required contributions2019-09-300
Minimum required contributions for current year target normal cost2019-09-30130,096
Net shortfall amortization installment of oustanding balance2019-09-300
Waiver amortization installment2019-09-300
Total funding amount beforereflecting carryover/prefunding balances2019-09-30130,096
Carryover balance elected to use to offset funding requirement2019-09-300
Prefunding balance elected to use to offset funding requirement2019-09-300
Additional cash requirement2019-09-30130,096
Contributions allocatedtoward minimum required contributions for current year2019-09-30284,934
Unpaid minimum required contributions for current year2019-09-300
Unpaid minimum required contributions for all years2019-09-300
2018: VBA MASTER DEFINED BENEFIT PLAN FOR LEE BANK & TRUST COMPANY 2018 401k membership
Market value of plan assets2018-09-303,954,465
Acturial value of plan assets2018-09-303,893,251
Funding target for retired participants and beneficiaries receiving payment2018-09-30908,045
Number of terminated vested participants2018-09-309
Fundng target for terminated vested participants2018-09-30198,733
Active participant vested funding target2018-09-302,527,023
Number of active participants2018-09-3051
Total funding liabilities for active participants2018-09-302,535,401
Total participant count2018-09-3077
Total funding target for all participants2018-09-303,642,179
Balance at beginning of prior year after applicable adjustments2018-09-300
Prefunding balance at beginning of prior year after applicable adjustments2018-09-30650,323
Carryover balanced portion elected for use to offset prior years funding requirement2018-09-300
Prefunding balanced used to offset prior years funding requirement2018-09-300
Amount remaining of carryover balance2018-09-300
Amount remaining of prefunding balance2018-09-30650,323
Present value of excess contributions2018-09-30125,879
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-09-30133,558
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-09-30133,558
Reductions in caryover balances due to elections or deemed elections2018-09-300
Reductions in prefunding balances due to elections or deemed elections2018-09-300
Balance of carryovers at beginning of current year2018-09-300
Balance of prefunding at beginning of current year2018-09-30841,370
Total employer contributions2018-09-30325,000
Total employee contributions2018-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2018-09-300
Contributions made to avoid restrictions adjusted to valuation date2018-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-09-30313,805
Unpaid minimum required contributions for all prior years2018-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-09-300
Remaining amount of unpaid minimum required contributions2018-09-300
Minimum required contributions for current year target normal cost2018-09-30133,470
Net shortfall amortization installment of oustanding balance2018-09-300
Waiver amortization installment2018-09-300
Total funding amount beforereflecting carryover/prefunding balances2018-09-30133,470
Carryover balance elected to use to offset funding requirement2018-09-300
Prefunding balance elected to use to offset funding requirement2018-09-300
Additional cash requirement2018-09-30133,470
Contributions allocatedtoward minimum required contributions for current year2018-09-30313,805
Unpaid minimum required contributions for current year2018-09-300
Unpaid minimum required contributions for all years2018-09-300
2017: VBA MASTER DEFINED BENEFIT PLAN FOR LEE BANK & TRUST COMPANY 2017 401k membership
Market value of plan assets2017-09-303,499,717
Acturial value of plan assets2017-09-303,556,561
Funding target for retired participants and beneficiaries receiving payment2017-09-30922,500
Number of terminated vested participants2017-09-309
Fundng target for terminated vested participants2017-09-3089,291
Active participant vested funding target2017-09-302,239,132
Number of active participants2017-09-3052
Total funding liabilities for active participants2017-09-302,246,438
Total participant count2017-09-3078
Total funding target for all participants2017-09-303,258,229
Balance at beginning of prior year after applicable adjustments2017-09-300
Prefunding balance at beginning of prior year after applicable adjustments2017-09-30472,037
Carryover balanced portion elected for use to offset prior years funding requirement2017-09-300
Prefunding balanced used to offset prior years funding requirement2017-09-300
Amount remaining of carryover balance2017-09-300
Amount remaining of prefunding balance2017-09-30472,037
Present value of excess contributions2017-09-30134,961
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-09-30143,450
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-09-30143,450
Reductions in caryover balances due to elections or deemed elections2017-09-300
Reductions in prefunding balances due to elections or deemed elections2017-09-300
Balance of carryovers at beginning of current year2017-09-300
Balance of prefunding at beginning of current year2017-09-30650,323
Total employer contributions2017-09-30260,000
Total employee contributions2017-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2017-09-300
Contributions made to avoid restrictions adjusted to valuation date2017-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-09-30250,264
Unpaid minimum required contributions for all prior years2017-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-09-300
Remaining amount of unpaid minimum required contributions2017-09-300
Minimum required contributions for current year target normal cost2017-09-30124,385
Net shortfall amortization installment of oustanding balance2017-09-300
Total funding amount beforereflecting carryover/prefunding balances2017-09-30124,385
Carryover balance elected to use to offset funding requirement2017-09-300
Prefunding balance elected to use to offset funding requirement2017-09-300
Additional cash requirement2017-09-30124,385
Contributions allocatedtoward minimum required contributions for current year2017-09-30250,264
Unpaid minimum required contributions for current year2017-09-300
Unpaid minimum required contributions for all years2017-09-300

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