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JOSEPH A. ROMANO, PC CASH BALANCE PENSION PLAN AND TRUST 401k Plan overview

Plan NameJOSEPH A. ROMANO, PC CASH BALANCE PENSION PLAN AND TRUST
Plan identification number 002

JOSEPH A. ROMANO, PC CASH BALANCE PENSION PLAN AND TRUST Benefits

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

THE LAW OFFICES OF JOSEPH A. ROMANO P.C. has sponsored the creation of one or more 401k plans.

Company Name:THE LAW OFFICES OF JOSEPH A. ROMANO P.C.
Employer identification number (EIN):562441451
NAIC Classification:541110
NAIC Description:Offices of Lawyers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan JOSEPH A. ROMANO, PC CASH BALANCE PENSION PLAN AND TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01JOSEPH ROMANO2022-05-25 JOSEPH ROMANO2022-05-25
0022021-01-01JOSEPH ROMANO2022-01-26 JOSEPH ROMANO2022-01-26
0022020-01-01JOSEPH A ROMANO2021-05-12 JOSEPH A ROMANO2021-05-12
0022019-01-01JOSEPH A ROMANO PC2020-07-29 JOSEPH A ROMANO PC2020-07-29
0022018-01-01JOSEPH ROMANO2019-07-09 JOSEPH ROMANO2019-07-09
0022017-01-01JOSEPH ROMANO2018-08-29 JOSEPH ROMANO2018-08-29
0022016-01-01JOSEPH A. ROMANO2017-10-16 JOSEPH A. ROMANO2017-10-16

Plan Statistics for JOSEPH A. ROMANO, PC CASH BALANCE PENSION PLAN AND TRUST

401k plan membership statisitcs for JOSEPH A. ROMANO, PC CASH BALANCE PENSION PLAN AND TRUST

Measure Date Value
2021: JOSEPH A. ROMANO, PC CASH BALANCE PENSION PLAN AND TRUST 2021 401k membership
Market value of plan assets2021-12-311,579,038
Acturial value of plan assets2021-12-311,579,038
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-3111
Fundng target for terminated vested participants2021-12-3120,658
Active participant vested funding target2021-12-311,527,474
Number of active participants2021-12-3139
Total funding liabilities for active participants2021-12-311,527,474
Total participant count2021-12-3150
Total funding target for all participants2021-12-311,548,132
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-3145,734
Carryover balanced portion elected for use to offset prior years funding requirement2021-12-310
Prefunding balanced used to offset prior years funding requirement2021-12-3121,098
Amount remaining of carryover balance2021-12-310
Amount remaining of prefunding balance2021-12-3124,636
Present value of excess contributions2021-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-310
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 year2021-12-3126,289
Total employer contributions2021-12-310
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 date2021-12-310
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 cost2021-12-310
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-310
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-310
Contributions allocatedtoward minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: JOSEPH A. ROMANO, PC CASH BALANCE PENSION PLAN AND TRUST 2020 401k membership
Market value of plan assets2020-12-311,286,610
Acturial value of plan assets2020-12-311,286,610
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-3111
Fundng target for terminated vested participants2020-12-3116,995
Active participant vested funding target2020-12-311,197,768
Number of active participants2020-12-3139
Total funding liabilities for active participants2020-12-311,197,768
Total participant count2020-12-3150
Total funding target for all participants2020-12-311,214,763
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-3136,979
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 balance2020-12-3136,979
Present value of excess contributions2020-12-316,562
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-316,562
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-316,562
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 year2020-12-3145,734
Total employer contributions2020-12-31300,000
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 date2020-12-31293,711
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 cost2020-12-31339,636
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-31315,906
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-3122,195
Additional cash requirement2020-12-31293,711
Contributions allocatedtoward minimum required contributions for current year2020-12-31293,711
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: JOSEPH A. ROMANO, PC CASH BALANCE PENSION PLAN AND TRUST 2019 401k membership
Market value of plan assets2019-12-31868,399
Acturial value of plan assets2019-12-31868,399
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-312
Fundng target for terminated vested participants2019-12-315,690
Active participant vested funding target2019-12-31831,205
Number of active participants2019-12-3133
Total funding liabilities for active participants2019-12-31832,872
Total participant count2019-12-3135
Total funding target for all participants2019-12-31838,562
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-3129,031
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 balance2019-12-3129,031
Present value of excess contributions2019-12-317,579
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-317,579
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-317,579
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 year2019-12-3136,979
Total employer contributions2019-12-31353,606
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 date2019-12-31334,927
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 cost2019-12-31322,297
Net shortfall amortization installment of oustanding balance2019-12-3129,706
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31328,365
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-31328,365
Contributions allocatedtoward minimum required contributions for current year2019-12-31334,927
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: JOSEPH A. ROMANO, PC CASH BALANCE PENSION PLAN AND TRUST 2018 401k membership
Market value of plan assets2018-12-31496,500
Acturial value of plan assets2018-12-31496,500
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-311
Fundng target for terminated vested participants2018-12-312,651
Active participant vested funding target2018-12-31497,494
Number of active participants2018-12-3127
Total funding liabilities for active participants2018-12-31497,618
Total participant count2018-12-3128
Total funding target for all participants2018-12-31500,269
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-3123,998
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 balance2018-12-3123,998
Present value of excess contributions2018-12-314,695
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-314,695
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-314,695
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 year2018-12-3129,031
Total employer contributions2018-12-31330,994
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 date2018-12-31316,407
Liquidity shortfalls end of Q12018-12-310
Liquidity shortfalls end of Q22018-12-310
Liquidity shortfalls end of Q32018-12-310
Liquidity shortfalls end of Q42018-12-310
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 cost2018-12-31302,760
Net shortfall amortization installment of oustanding balance2018-12-3134,164
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31308,828
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-31308,828
Contributions allocatedtoward minimum required contributions for current year2018-12-31316,407
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: JOSEPH A. ROMANO, PC CASH BALANCE PENSION PLAN AND TRUST 2017 401k membership
Market value of plan assets2017-12-31230,287
Acturial value of plan assets2017-12-31230,287
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 target2017-12-310
Number of active participants2017-12-3119
Total funding liabilities for active participants2017-12-31230,434
Total participant count2017-12-3119
Total funding target for all participants2017-12-31230,434
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-310
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 balance2017-12-310
Present value of excess contributions2017-12-3123,998
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3123,998
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-12-3123,998
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 year2017-12-3123,998
Total employer contributions2017-12-31260,998
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 date2017-12-31257,219
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 cost2017-12-31248,371
Net shortfall amortization installment of oustanding balance2017-12-3125,292
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31252,524
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-31252,524
Contributions allocatedtoward minimum required contributions for current year2017-12-31257,219
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: JOSEPH A. ROMANO, PC CASH BALANCE PENSION PLAN AND TRUST 2016 401k membership
Market value of plan assets2016-12-310
Acturial value of plan assets2016-12-310
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 target2016-12-310
Number of active participants2016-12-3118
Total funding liabilities for active participants2016-12-310
Total participant count2016-12-3118
Total funding target for all participants2016-12-310
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-310
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 balance2016-12-310
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 year2016-12-310
Total employer contributions2016-12-31226,563
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 date2016-12-31234,037
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 cost2016-12-31210,039
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 balances2016-12-31210,039
Additional cash requirement2016-12-31210,039
Contributions allocatedtoward minimum required contributions for current year2016-12-31234,037
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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