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CLASS ACT FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 401k Plan overview

Plan NameCLASS ACT FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST
Plan identification number 001

CLASS ACT FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 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

CLASS ACT FEDERAL CREDIT UNION has sponsored the creation of one or more 401k plans.

Company Name:CLASS ACT FEDERAL CREDIT UNION
Employer identification number (EIN):610549795
NAIC Classification:522130
NAIC Description:Credit Unions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CLASS ACT FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-08-01KIMBERLY SANDEFUR2024-10-18
0012022-08-01KIMBERLY SANDEFUR2023-10-02
0012021-08-01KIMBERLY SANDEFUR2022-10-25
0012020-08-01KIMBERLY SANDEFUR2021-11-10
0012019-08-01KIMBERLY2020-11-02
0012018-08-01LISA MCINTOSH2020-02-05
0012017-08-01LISA MCINTOSH2018-12-17
0012016-08-01LISA MCINTOSH2017-12-22
0012015-08-01LISA MCINTOSH2016-11-18
0012014-08-01LISA MCINTOSH2015-12-11
0012013-08-01LISA MCINTOSH2015-01-02
0012012-08-01LISA SACRA2014-01-23
0012011-08-01LISA A. SACRA2013-03-28
0012010-08-01LISA SACRA2011-12-09

Plan Statistics for CLASS ACT FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST

401k plan membership statisitcs for CLASS ACT FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST

Measure Date Value
2023: CLASS ACT FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2023 401k membership
Market value of plan assets2023-07-3114,848,474
Acturial value of plan assets2023-07-3114,848,474
Funding target for retired participants and beneficiaries receiving payment2023-07-31874,238
Number of terminated vested participants2023-07-314
Fundng target for terminated vested participants2023-07-31211,287
Active participant vested funding target2023-07-313,530,927
Number of active participants2023-07-3153
Total funding liabilities for active participants2023-07-313,956,111
Total participant count2023-07-3158
Total funding target for all participants2023-07-315,041,636
Balance at beginning of prior year after applicable adjustments2023-07-31345,684
Prefunding balance at beginning of prior year after applicable adjustments2023-07-310
Carryover balanced portion elected for use to offset prior years funding requirement2023-07-310
Prefunding balanced used to offset prior years funding requirement2023-07-310
Amount remaining of carryover balance2023-07-31345,684
Amount remaining of prefunding balance2023-07-310
Present value of excess contributions2023-07-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2023-07-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2023-07-310
Reductions in caryover balances due to elections or deemed elections2023-07-310
Reductions in prefunding balances due to elections or deemed elections2023-07-310
Balance of carryovers at beginning of current year2023-07-31329,057
Balance of prefunding at beginning of current year2023-07-310
Total employer contributions2023-07-310
Total employee contributions2023-07-310
Contributions allocated toward unpaid minimum require contributions from prior years2023-07-310
Contributions made to avoid restrictions adjusted to valuation date2023-07-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2023-07-310
Unpaid minimum required contributions for all prior years2023-07-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2023-07-310
Remaining amount of unpaid minimum required contributions2023-07-310
Minimum required contributions for current year target normal cost2023-07-31600,348
Net shortfall amortization installment of oustanding balance2023-07-310
Waiver amortization installment2023-07-310
Total funding amount beforereflecting carryover/prefunding balances2023-07-310
Carryover balance elected to use to offset funding requirement2023-07-310
Prefunding balance elected to use to offset funding requirement2023-07-310
Additional cash requirement2023-07-310
Contributions allocatedtoward minimum required contributions for current year2023-07-310
Unpaid minimum required contributions for current year2023-07-310
Unpaid minimum required contributions for all years2023-07-310
2022: CLASS ACT FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2022 401k membership
Market value of plan assets2022-07-3116,179,272
Acturial value of plan assets2022-07-3116,179,272
Funding target for retired participants and beneficiaries receiving payment2022-07-31868,087
Number of terminated vested participants2022-07-313
Fundng target for terminated vested participants2022-07-31635,041
Active participant vested funding target2022-07-313,095,907
Number of active participants2022-07-3147
Total funding liabilities for active participants2022-07-313,453,923
Total participant count2022-07-3151
Total funding target for all participants2022-07-314,957,051
Balance at beginning of prior year after applicable adjustments2022-07-31284,771
Prefunding balance at beginning of prior year after applicable adjustments2022-07-310
Carryover balanced portion elected for use to offset prior years funding requirement2022-07-310
Prefunding balanced used to offset prior years funding requirement2022-07-310
Amount remaining of carryover balance2022-07-31284,771
Amount remaining of prefunding balance2022-07-310
Present value of excess contributions2022-07-312,951,191
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-07-313,099,636
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-07-310
Reductions in caryover balances due to elections or deemed elections2022-07-310
Reductions in prefunding balances due to elections or deemed elections2022-07-310
Balance of carryovers at beginning of current year2022-07-31345,684
Balance of prefunding at beginning of current year2022-07-310
Total employer contributions2022-07-310
Total employee contributions2022-07-310
Contributions allocated toward unpaid minimum require contributions from prior years2022-07-310
Contributions made to avoid restrictions adjusted to valuation date2022-07-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-07-310
Unpaid minimum required contributions for all prior years2022-07-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-07-310
Remaining amount of unpaid minimum required contributions2022-07-310
Minimum required contributions for current year target normal cost2022-07-31197,495
Net shortfall amortization installment of oustanding balance2022-07-310
Waiver amortization installment2022-07-310
Total funding amount beforereflecting carryover/prefunding balances2022-07-310
Carryover balance elected to use to offset funding requirement2022-07-310
Prefunding balance elected to use to offset funding requirement2022-07-310
Additional cash requirement2022-07-310
Contributions allocatedtoward minimum required contributions for current year2022-07-310
Unpaid minimum required contributions for current year2022-07-310
Unpaid minimum required contributions for all years2022-07-310
2021: CLASS ACT FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2021 401k membership
Market value of plan assets2021-07-3111,802,064
Acturial value of plan assets2021-07-3111,802,064
Funding target for retired participants and beneficiaries receiving payment2021-07-310
Number of terminated vested participants2021-07-313
Fundng target for terminated vested participants2021-07-31191,775
Active participant vested funding target2021-07-314,587,917
Number of active participants2021-07-3160
Total funding liabilities for active participants2021-07-314,831,896
Total participant count2021-07-3163
Total funding target for all participants2021-07-315,023,671
Balance at beginning of prior year after applicable adjustments2021-07-31263,530
Prefunding balance at beginning of prior year after applicable adjustments2021-07-310
Carryover balanced portion elected for use to offset prior years funding requirement2021-07-310
Prefunding balanced used to offset prior years funding requirement2021-07-310
Amount remaining of carryover balance2021-07-31263,530
Amount remaining of prefunding balance2021-07-310
Present value of excess contributions2021-07-31736,094
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-07-31774,592
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-07-310
Reductions in caryover balances due to elections or deemed elections2021-07-310
Reductions in prefunding balances due to elections or deemed elections2021-07-310
Balance of carryovers at beginning of current year2021-07-31284,771
Balance of prefunding at beginning of current year2021-07-310
Total employer contributions2021-07-313,000,000
Total employee contributions2021-07-310
Contributions allocated toward unpaid minimum require contributions from prior years2021-07-310
Contributions made to avoid restrictions adjusted to valuation date2021-07-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-07-312,951,191
Unpaid minimum required contributions for all prior years2021-07-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-07-310
Remaining amount of unpaid minimum required contributions2021-07-310
Minimum required contributions for current year target normal cost2021-07-31594,252
Net shortfall amortization installment of oustanding balance2021-07-310
Waiver amortization installment2021-07-310
Total funding amount beforereflecting carryover/prefunding balances2021-07-310
Carryover balance elected to use to offset funding requirement2021-07-310
Prefunding balance elected to use to offset funding requirement2021-07-310
Additional cash requirement2021-07-310
Contributions allocatedtoward minimum required contributions for current year2021-07-312,951,191
Unpaid minimum required contributions for current year2021-07-310
Unpaid minimum required contributions for all years2021-07-310
2020: CLASS ACT FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2020 401k membership
Market value of plan assets2020-07-3111,352,185
Acturial value of plan assets2020-07-3111,352,185
Funding target for retired participants and beneficiaries receiving payment2020-07-310
Number of terminated vested participants2020-07-312
Fundng target for terminated vested participants2020-07-31114,636
Active participant vested funding target2020-07-314,849,585
Number of active participants2020-07-3150
Total funding liabilities for active participants2020-07-314,970,770
Total participant count2020-07-3152
Total funding target for all participants2020-07-315,085,406
Balance at beginning of prior year after applicable adjustments2020-07-31249,366
Prefunding balance at beginning of prior year after applicable adjustments2020-07-310
Carryover balanced portion elected for use to offset prior years funding requirement2020-07-310
Prefunding balanced used to offset prior years funding requirement2020-07-310
Amount remaining of carryover balance2020-07-31249,366
Amount remaining of prefunding balance2020-07-310
Present value of excess contributions2020-07-31733,694
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-07-31773,460
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-07-310
Reductions in caryover balances due to elections or deemed elections2020-07-310
Reductions in prefunding balances due to elections or deemed elections2020-07-310
Balance of carryovers at beginning of current year2020-07-31263,530
Balance of prefunding at beginning of current year2020-07-310
Total employer contributions2020-07-31750,000
Total employee contributions2020-07-310
Contributions allocated toward unpaid minimum require contributions from prior years2020-07-310
Contributions made to avoid restrictions adjusted to valuation date2020-07-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-07-31736,094
Unpaid minimum required contributions for all prior years2020-07-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-07-310
Remaining amount of unpaid minimum required contributions2020-07-310
Minimum required contributions for current year target normal cost2020-07-31409,424
Net shortfall amortization installment of oustanding balance2020-07-310
Waiver amortization installment2020-07-310
Total funding amount beforereflecting carryover/prefunding balances2020-07-310
Carryover balance elected to use to offset funding requirement2020-07-310
Prefunding balance elected to use to offset funding requirement2020-07-310
Additional cash requirement2020-07-310
Contributions allocatedtoward minimum required contributions for current year2020-07-31736,094
Unpaid minimum required contributions for current year2020-07-310
Unpaid minimum required contributions for all years2020-07-310
2019: CLASS ACT FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2019 401k membership
Market value of plan assets2019-07-3111,468,403
Acturial value of plan assets2019-07-3111,468,403
Funding target for retired participants and beneficiaries receiving payment2019-07-310
Number of terminated vested participants2019-07-311
Fundng target for terminated vested participants2019-07-3150,764
Active participant vested funding target2019-07-314,952,794
Number of active participants2019-07-3153
Total funding liabilities for active participants2019-07-315,131,612
Total participant count2019-07-3154
Total funding target for all participants2019-07-315,182,376
Balance at beginning of prior year after applicable adjustments2019-07-31228,378
Prefunding balance at beginning of prior year after applicable adjustments2019-07-310
Carryover balanced portion elected for use to offset prior years funding requirement2019-07-310
Prefunding balanced used to offset prior years funding requirement2019-07-310
Amount remaining of carryover balance2019-07-31228,378
Amount remaining of prefunding balance2019-07-310
Present value of excess contributions2019-07-31293,817
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-07-31310,212
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-07-310
Reductions in caryover balances due to elections or deemed elections2019-07-310
Reductions in prefunding balances due to elections or deemed elections2019-07-310
Balance of carryovers at beginning of current year2019-07-31249,366
Balance of prefunding at beginning of current year2019-07-310
Total employer contributions2019-07-31750,000
Total employee contributions2019-07-310
Contributions allocated toward unpaid minimum require contributions from prior years2019-07-310
Contributions made to avoid restrictions adjusted to valuation date2019-07-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-07-31733,694
Unpaid minimum required contributions for all prior years2019-07-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-07-310
Remaining amount of unpaid minimum required contributions2019-07-310
Minimum required contributions for current year target normal cost2019-07-31564,474
Net shortfall amortization installment of oustanding balance2019-07-310
Waiver amortization installment2019-07-310
Total funding amount beforereflecting carryover/prefunding balances2019-07-310
Carryover balance elected to use to offset funding requirement2019-07-310
Prefunding balance elected to use to offset funding requirement2019-07-310
Additional cash requirement2019-07-310
Contributions allocatedtoward minimum required contributions for current year2019-07-31733,694
Unpaid minimum required contributions for current year2019-07-310
Unpaid minimum required contributions for all years2019-07-310
2018: CLASS ACT FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2018 401k membership
Market value of plan assets2018-07-3110,592,638
Acturial value of plan assets2018-07-3110,592,638
Funding target for retired participants and beneficiaries receiving payment2018-07-310
Number of terminated vested participants2018-07-311
Fundng target for terminated vested participants2018-07-3136,241
Active participant vested funding target2018-07-314,359,284
Number of active participants2018-07-3154
Total funding liabilities for active participants2018-07-314,528,168
Total participant count2018-07-3155
Total funding target for all participants2018-07-314,564,409
Balance at beginning of prior year after applicable adjustments2018-07-31207,711
Prefunding balance at beginning of prior year after applicable adjustments2018-07-310
Carryover balanced portion elected for use to offset prior years funding requirement2018-07-310
Prefunding balanced used to offset prior years funding requirement2018-07-310
Amount remaining of carryover balance2018-07-31207,711
Amount remaining of prefunding balance2018-07-310
Present value of excess contributions2018-07-31489,001
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-07-31517,363
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-07-310
Reductions in caryover balances due to elections or deemed elections2018-07-310
Reductions in prefunding balances due to elections or deemed elections2018-07-310
Balance of carryovers at beginning of current year2018-07-31228,378
Balance of prefunding at beginning of current year2018-07-310
Total employer contributions2018-07-31300,000
Total employee contributions2018-07-310
Contributions allocated toward unpaid minimum require contributions from prior years2018-07-310
Contributions made to avoid restrictions adjusted to valuation date2018-07-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-07-31293,817
Unpaid minimum required contributions for all prior years2018-07-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-07-310
Remaining amount of unpaid minimum required contributions2018-07-310
Minimum required contributions for current year target normal cost2018-07-31444,048
Net shortfall amortization installment of oustanding balance2018-07-310
Waiver amortization installment2018-07-310
Total funding amount beforereflecting carryover/prefunding balances2018-07-310
Carryover balance elected to use to offset funding requirement2018-07-310
Prefunding balance elected to use to offset funding requirement2018-07-310
Additional cash requirement2018-07-310
Contributions allocatedtoward minimum required contributions for current year2018-07-31293,817
Unpaid minimum required contributions for current year2018-07-310
Unpaid minimum required contributions for all years2018-07-310
2017: CLASS ACT FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2017 401k membership
Market value of plan assets2017-07-319,460,721
Acturial value of plan assets2017-07-319,460,721
Funding target for retired participants and beneficiaries receiving payment2017-07-310
Number of terminated vested participants2017-07-311
Fundng target for terminated vested participants2017-07-3128,293
Active participant vested funding target2017-07-313,904,203
Number of active participants2017-07-3152
Total funding liabilities for active participants2017-07-314,045,332
Total participant count2017-07-3153
Total funding target for all participants2017-07-314,073,625
Balance at beginning of prior year after applicable adjustments2017-07-31200,416
Prefunding balance at beginning of prior year after applicable adjustments2017-07-310
Carryover balanced portion elected for use to offset prior years funding requirement2017-07-310
Prefunding balanced used to offset prior years funding requirement2017-07-310
Amount remaining of carryover balance2017-07-31200,416
Amount remaining of prefunding balance2017-07-310
Present value of excess contributions2017-07-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-07-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-07-310
Reductions in caryover balances due to elections or deemed elections2017-07-310
Reductions in prefunding balances due to elections or deemed elections2017-07-310
Balance of carryovers at beginning of current year2017-07-31207,711
Balance of prefunding at beginning of current year2017-07-310
Total employer contributions2017-07-31500,000
Total employee contributions2017-07-310
Contributions allocated toward unpaid minimum require contributions from prior years2017-07-310
Contributions made to avoid restrictions adjusted to valuation date2017-07-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-07-31489,001
Unpaid minimum required contributions for all prior years2017-07-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-07-310
Remaining amount of unpaid minimum required contributions2017-07-310
Minimum required contributions for current year target normal cost2017-07-31389,833
Net shortfall amortization installment of oustanding balance2017-07-310
Waiver amortization installment2017-07-310
Waived amount of outstanding balance2017-07-310
Total funding amount beforereflecting carryover/prefunding balances2017-07-310
Carryover balance elected to use to offset funding requirement2017-07-310
Prefunding balance elected to use to offset funding requirement2017-07-310
Additional cash requirement2017-07-310
Contributions allocatedtoward minimum required contributions for current year2017-07-31489,001
Unpaid minimum required contributions for current year2017-07-310
Unpaid minimum required contributions for all years2017-07-310

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