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

Plan NameVBA MASTER DEFINED BENEFIT PLAN FOR VIRGINIA BANK & TRUST COMPANY
Plan identification number 001

VBA MASTER DEFINED BENEFIT PLAN FOR VIRGINIA 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).
  • 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

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

Company Name:VIRGINIA BANK & TRUST COMPANY
Employer identification number (EIN):540419610
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

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

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012020-10-01JUDITH CLEMENTS2021-10-14 JUDITH CLEMENTS2021-10-14
0012019-10-01JUDITH CLEMENTS2021-04-29 JUDITH CLEMENTS2021-04-29
0012018-10-01DONALD MERRICKS2020-06-24 DONALD MERRICKS2020-06-24
0012017-10-01DONALD MERRICKS2019-05-08 DONALD MERRICKS2019-05-08
0012016-10-01DONALD MERRICKS2018-06-22 DONALD MERRICKS2018-06-22
0012015-10-01ROGER GILLISPIE2017-07-12 ROGER GILLISPIE2017-07-12
0012014-10-01ROGER GILLISPIE2016-06-27 ROGER GILLISPIE2016-06-27
0012013-10-01ROGER GILLISPIE2015-04-23 ROGER GILLISPIE2015-04-23
0012012-10-01ROGER GILLISPIE2014-04-25
0012011-10-01ROGER GILLISPIE2013-04-29
0012010-10-01ROGER GILLISPIE2012-04-18

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

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

Measure Date Value
2020: VBA MASTER DEFINED BENEFIT PLAN FOR VIRGINIA BANK & TRUST COMPANY 2020 401k membership
Market value of plan assets2020-12-312,228,825
Acturial value of plan assets2020-12-312,237,729
Funding target for retired participants and beneficiaries receiving payment2020-12-31262,833
Number of terminated vested participants2020-12-315
Fundng target for terminated vested participants2020-12-31171,201
Active participant vested funding target2020-12-311,806,594
Number of active participants2020-12-3154
Total funding liabilities for active participants2020-12-312,016,151
Total participant count2020-12-3163
Total funding target for all participants2020-12-312,450,185
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-31462,623
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 balance2020-12-31462,623
Present value of excess contributions2020-12-3190
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-3195
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-3195
Reductions in caryover balances due to elections or deemed elections2020-12-310
Reductions in prefunding balances due to elections or deemed elections2020-12-31217,937
Balance of carryovers at beginning of current year2020-12-310
Balance of prefunding at beginning of current year2020-12-31277,581
Total employer contributions2020-12-310
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 date2020-12-310
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 cost2020-12-314,925
Net shortfall amortization installment of oustanding balance2020-12-31490,037
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-3127,078
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-3127,078
Additional cash requirement2020-12-310
Contributions allocatedtoward minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
Market value of plan assets2020-09-302,329,714
Acturial value of plan assets2020-09-302,367,653
Funding target for retired participants and beneficiaries receiving payment2020-09-30372,505
Number of terminated vested participants2020-09-306
Fundng target for terminated vested participants2020-09-30196,186
Active participant vested funding target2020-09-301,686,564
Number of active participants2020-09-3054
Total funding liabilities for active participants2020-09-301,812,596
Total participant count2020-09-3064
Total funding target for all participants2020-09-302,381,287
Balance at beginning of prior year after applicable adjustments2020-09-303,012,199
Prefunding balance at beginning of prior year after applicable adjustments2020-09-30918,955
Carryover balanced portion elected for use to offset prior years funding requirement2020-09-30173,725
Prefunding balanced used to offset prior years funding requirement2020-09-300
Amount remaining of carryover balance2020-09-302,838,474
Amount remaining of prefunding balance2020-09-30918,955
Present value of excess contributions2020-09-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-09-300
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 elections2020-09-302,936,969
Reductions in prefunding balances due to elections or deemed elections2020-09-30488,220
Balance of carryovers at beginning of current year2020-09-300
Balance of prefunding at beginning of current year2020-09-30462,623
Total employer contributions2020-09-30274,261
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 date2020-09-30270,649
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 cost2020-09-30193,173
Net shortfall amortization installment of oustanding balance2020-09-30476,257
Waiver amortization installment2020-09-300
Total funding amount beforereflecting carryover/prefunding balances2020-09-30270,559
Additional cash requirement2020-09-30270,559
Contributions allocatedtoward minimum required contributions for current year2020-09-30270,649
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 VIRGINIA BANK & TRUST COMPANY 2019 401k membership
Market value of plan assets2019-09-302,757,859
Acturial value of plan assets2019-09-302,673,061
Funding target for retired participants and beneficiaries receiving payment2019-09-30149,262
Number of terminated vested participants2019-09-305
Fundng target for terminated vested participants2019-09-30104,041
Active participant vested funding target2019-09-302,071,856
Number of active participants2019-09-3061
Total funding liabilities for active participants2019-09-302,128,004
Total participant count2019-09-3068
Total funding target for all participants2019-09-302,381,307
Balance at beginning of prior year after applicable adjustments2019-09-302,965,119
Prefunding balance at beginning of prior year after applicable adjustments2019-09-30856,355
Carryover balanced portion elected for use to offset prior years funding requirement2019-09-30158,112
Prefunding balanced used to offset prior years funding requirement2019-09-300
Amount remaining of carryover balance2019-09-302,807,007
Amount remaining of prefunding balance2019-09-30856,355
Present value of excess contributions2019-09-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-09-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-09-300
Reductions in caryover balances due to elections or deemed elections2019-09-300
Reductions in prefunding balances due to elections or deemed elections2019-09-300
Balance of carryovers at beginning of current year2019-09-303,012,199
Balance of prefunding at beginning of current year2019-09-30918,955
Total employer contributions2019-09-300
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 date2019-09-300
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 cost2019-09-30173,725
Net shortfall amortization installment of oustanding balance2019-09-300
Waiver amortization installment2019-09-300
Total funding amount beforereflecting carryover/prefunding balances2019-09-30173,725
Carryover balance elected to use to offset funding requirement2019-09-30173,725
Prefunding balance elected to use to offset funding requirement2019-09-300
Additional cash requirement2019-09-300
Contributions allocatedtoward minimum required contributions for current year2019-09-300
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 VIRGINIA BANK & TRUST COMPANY 2018 401k membership
Market value of plan assets2018-09-304,369,454
Acturial value of plan assets2018-09-304,219,218
Funding target for retired participants and beneficiaries receiving payment2018-09-30145,017
Number of terminated vested participants2018-09-305
Fundng target for terminated vested participants2018-09-3091,911
Active participant vested funding target2018-09-303,181,627
Number of active participants2018-09-3059
Total funding liabilities for active participants2018-09-303,196,688
Total participant count2018-09-3066
Total funding target for all participants2018-09-303,433,616
Balance at beginning of prior year after applicable adjustments2018-09-302,830,681
Prefunding balance at beginning of prior year after applicable adjustments2018-09-30768,514
Carryover balanced portion elected for use to offset prior years funding requirement2018-09-30169,711
Prefunding balanced used to offset prior years funding requirement2018-09-300
Amount remaining of carryover balance2018-09-302,660,970
Amount remaining of prefunding balance2018-09-30768,514
Present value of excess contributions2018-09-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-09-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-09-300
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 year2018-09-302,965,119
Balance of prefunding at beginning of current year2018-09-30856,355
Total employer contributions2018-09-300
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 date2018-09-300
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 cost2018-09-30158,112
Net shortfall amortization installment of oustanding balance2018-09-300
Waiver amortization installment2018-09-300
Total funding amount beforereflecting carryover/prefunding balances2018-09-30158,112
Carryover balance elected to use to offset funding requirement2018-09-30158,112
Prefunding balance elected to use to offset funding requirement2018-09-300
Additional cash requirement2018-09-300
Contributions allocatedtoward minimum required contributions for current year2018-09-300
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 VIRGINIA BANK & TRUST COMPANY 2017 401k membership
Market value of plan assets2017-09-304,524,617
Acturial value of plan assets2017-09-304,580,293
Funding target for retired participants and beneficiaries receiving payment2017-09-30116,346
Number of terminated vested participants2017-09-303
Fundng target for terminated vested participants2017-09-3077,653
Active participant vested funding target2017-09-303,156,924
Number of active participants2017-09-3059
Total funding liabilities for active participants2017-09-303,193,633
Total participant count2017-09-3063
Total funding target for all participants2017-09-303,387,632
Balance at beginning of prior year after applicable adjustments2017-09-302,617,608
Prefunding balance at beginning of prior year after applicable adjustments2017-09-30545,491
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 balance2017-09-302,617,608
Amount remaining of prefunding balance2017-09-30545,491
Present value of excess contributions2017-09-30168,430
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-09-30178,620
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-09-30178,620
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 year2017-09-302,830,681
Balance of prefunding at beginning of current year2017-09-30768,514
Total employer contributions2017-09-3049,042
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 date2017-09-3048,252
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 cost2017-09-30217,963
Net shortfall amortization installment of oustanding balance2017-09-300
Waiver amortization installment2017-09-300
Total funding amount beforereflecting carryover/prefunding balances2017-09-30217,963
Carryover balance elected to use to offset funding requirement2017-09-30169,711
Prefunding balance elected to use to offset funding requirement2017-09-300
Additional cash requirement2017-09-3048,252
Contributions allocatedtoward minimum required contributions for current year2017-09-3048,252
Unpaid minimum required contributions for current year2017-09-300
Unpaid minimum required contributions for all years2017-09-300

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