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BANK OF GLEASON RETIREMENT PENSION PLAN 401k Plan overview

Plan NameBANK OF GLEASON RETIREMENT PENSION PLAN
Plan identification number 001

BANK OF GLEASON RETIREMENT PENSION PLAN 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.
  • Life insurance

401k Sponsoring company profile

BANK OF GLEASON has sponsored the creation of one or more 401k plans.

Company Name:BANK OF GLEASON
Employer identification number (EIN):620123350
NAIC Classification:522120
NAIC Description:Savings Institutions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BANK OF GLEASON RETIREMENT PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-11-01TAMMY HAYWOOD2024-08-13 TAMMY HAYWOOD2024-08-13
0012021-11-01TAMMY HAYWOOD2023-08-14 TAMMY HAYWOOD2023-08-14
0012020-11-01TAMMY HAYWOOD2022-08-10 TAMMY HAYWOOD2022-08-10
0012019-11-01TAMMY HAYWOOD2021-08-16 TAMMY HAYWOOD2021-08-16
0012018-11-01TAMMY HAYWOOD2020-03-31 TAMMY HAYWOOD2020-03-31
0012017-11-01TAMMY HAYWOOD2019-05-02 TAMMY HAYWOOD2019-05-02
0012017-11-01TAMMY HAYWOOD2019-05-14 TAMMY HAYWOOD2019-05-14
0012016-11-01TAMMY HAYWOOD2018-07-16 TAMMY HAYWOOD2018-07-16
0012015-11-01TAMMY HAYWOOD2017-07-27 TAMMY HAYWOOD2017-07-27
0012014-11-01
0012013-11-01TAMMY HAYWOOD2015-08-12
0012012-11-01TAMMY HAYWOOD2014-06-12
0012011-11-01TAMMY HAYWOOD2013-05-23
0012010-11-01TAMMY HAYWOOD2012-05-17 TAMMY HAYWOOD2012-05-17

Plan Statistics for BANK OF GLEASON RETIREMENT PENSION PLAN

401k plan membership statisitcs for BANK OF GLEASON RETIREMENT PENSION PLAN

Measure Date Value
2023: BANK OF GLEASON RETIREMENT PENSION PLAN 2023 401k membership
Market value of plan assets2023-10-31819,631
Acturial value of plan assets2023-10-31819,631
Funding target for retired participants and beneficiaries receiving payment2023-10-310
Number of terminated vested participants2023-10-310
Fundng target for terminated vested participants2023-10-310
Active participant vested funding target2023-10-311,020,515
Number of active participants2023-10-3117
Total funding liabilities for active participants2023-10-311,024,492
Total participant count2023-10-3117
Total funding target for all participants2023-10-311,024,492
Balance at beginning of prior year after applicable adjustments2023-10-310
Prefunding balance at beginning of prior year after applicable adjustments2023-10-310
Carryover balanced portion elected for use to offset prior years funding requirement2023-10-310
Prefunding balanced used to offset prior years funding requirement2023-10-310
Amount remaining of carryover balance2023-10-310
Amount remaining of prefunding balance2023-10-310
Present value of excess contributions2023-10-31292,603
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2023-10-31292,603
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2023-10-310
Reductions in caryover balances due to elections or deemed elections2023-10-310
Reductions in prefunding balances due to elections or deemed elections2023-10-310
Balance of carryovers at beginning of current year2023-10-310
Balance of prefunding at beginning of current year2023-10-310
Total employer contributions2023-10-31227,132
Total employee contributions2023-10-310
Contributions allocated toward unpaid minimum require contributions from prior years2023-10-310
Contributions made to avoid restrictions adjusted to valuation date2023-10-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2023-10-31212,770
Liquidity shortfalls end of Q12023-10-310
Liquidity shortfalls end of Q22023-10-310
Liquidity shortfalls end of Q32023-10-310
Liquidity shortfalls end of Q42023-10-310
Unpaid minimum required contributions for all prior years2023-10-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2023-10-310
Remaining amount of unpaid minimum required contributions2023-10-310
Minimum required contributions for current year target normal cost2023-10-3157,351
Net shortfall amortization installment of oustanding balance2023-10-31204,861
Waiver amortization installment2023-10-310
Total funding amount beforereflecting carryover/prefunding balances2023-10-3178,973
Carryover balance elected to use to offset funding requirement2023-10-310
Prefunding balance elected to use to offset funding requirement2023-10-310
Additional cash requirement2023-10-3178,973
Contributions allocatedtoward minimum required contributions for current year2023-10-31212,770
Unpaid minimum required contributions for current year2023-10-310
Unpaid minimum required contributions for all years2023-10-310
2022: BANK OF GLEASON RETIREMENT PENSION PLAN 2022 401k membership
Market value of plan assets2022-10-311,271,723
Acturial value of plan assets2022-10-311,271,723
Funding target for retired participants and beneficiaries receiving payment2022-10-310
Number of terminated vested participants2022-10-310
Fundng target for terminated vested participants2022-10-310
Active participant vested funding target2022-10-311,410,270
Number of active participants2022-10-3117
Total funding liabilities for active participants2022-10-311,412,989
Total participant count2022-10-3117
Total funding target for all participants2022-10-311,412,989
Balance at beginning of prior year after applicable adjustments2022-10-310
Prefunding balance at beginning of prior year after applicable adjustments2022-10-310
Carryover balanced portion elected for use to offset prior years funding requirement2022-10-310
Prefunding balanced used to offset prior years funding requirement2022-10-310
Amount remaining of carryover balance2022-10-310
Amount remaining of prefunding balance2022-10-310
Present value of excess contributions2022-10-31196,510
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-10-31207,613
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-10-310
Reductions in caryover balances due to elections or deemed elections2022-10-310
Reductions in prefunding balances due to elections or deemed elections2022-10-310
Balance of carryovers at beginning of current year2022-10-310
Balance of prefunding at beginning of current year2022-10-310
Total employer contributions2022-10-31373,113
Total employee contributions2022-10-310
Contributions allocated toward unpaid minimum require contributions from prior years2022-10-310
Contributions made to avoid restrictions adjusted to valuation date2022-10-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-10-31349,736
Liquidity shortfalls end of Q12022-10-310
Liquidity shortfalls end of Q22022-10-310
Liquidity shortfalls end of Q32022-10-310
Liquidity shortfalls end of Q42022-10-310
Unpaid minimum required contributions for all prior years2022-10-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-10-310
Remaining amount of unpaid minimum required contributions2022-10-310
Minimum required contributions for current year target normal cost2022-10-3142,669
Net shortfall amortization installment of oustanding balance2022-10-31141,266
Waiver amortization installment2022-10-310
Total funding amount beforereflecting carryover/prefunding balances2022-10-3157,133
Carryover balance elected to use to offset funding requirement2022-10-310
Prefunding balance elected to use to offset funding requirement2022-10-310
Additional cash requirement2022-10-3157,133
Contributions allocatedtoward minimum required contributions for current year2022-10-31349,736
Unpaid minimum required contributions for current year2022-10-310
Unpaid minimum required contributions for all years2022-10-310
2021: BANK OF GLEASON RETIREMENT PENSION PLAN 2021 401k membership
Market value of plan assets2021-10-311,276,606
Acturial value of plan assets2021-10-311,276,606
Funding target for retired participants and beneficiaries receiving payment2021-10-310
Number of terminated vested participants2021-10-310
Fundng target for terminated vested participants2021-10-310
Active participant vested funding target2021-10-311,583,116
Number of active participants2021-10-3119
Total funding liabilities for active participants2021-10-311,583,116
Total participant count2021-10-3119
Total funding target for all participants2021-10-311,583,116
Balance at beginning of prior year after applicable adjustments2021-10-310
Prefunding balance at beginning of prior year after applicable adjustments2021-10-310
Carryover balanced portion elected for use to offset prior years funding requirement2021-10-310
Prefunding balanced used to offset prior years funding requirement2021-10-310
Amount remaining of carryover balance2021-10-310
Amount remaining of prefunding balance2021-10-310
Present value of excess contributions2021-10-31189
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-10-31199
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-10-310
Reductions in caryover balances due to elections or deemed elections2021-10-310
Reductions in prefunding balances due to elections or deemed elections2021-10-310
Balance of carryovers at beginning of current year2021-10-310
Balance of prefunding at beginning of current year2021-10-310
Total employer contributions2021-10-31290,565
Total employee contributions2021-10-310
Contributions allocated toward unpaid minimum require contributions from prior years2021-10-310
Contributions made to avoid restrictions adjusted to valuation date2021-10-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-10-31272,157
Liquidity shortfalls end of Q12021-10-310
Liquidity shortfalls end of Q22021-10-310
Liquidity shortfalls end of Q32021-10-310
Liquidity shortfalls end of Q42021-10-310
Unpaid minimum required contributions for all prior years2021-10-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-10-310
Remaining amount of unpaid minimum required contributions2021-10-310
Minimum required contributions for current year target normal cost2021-10-3146,870
Net shortfall amortization installment of oustanding balance2021-10-31306,510
Waiver amortization installment2021-10-310
Total funding amount beforereflecting carryover/prefunding balances2021-10-3175,647
Carryover balance elected to use to offset funding requirement2021-10-310
Prefunding balance elected to use to offset funding requirement2021-10-310
Additional cash requirement2021-10-3175,647
Contributions allocatedtoward minimum required contributions for current year2021-10-31272,157
Unpaid minimum required contributions for current year2021-10-310
Unpaid minimum required contributions for all years2021-10-310
2020: BANK OF GLEASON RETIREMENT PENSION PLAN 2020 401k membership
Market value of plan assets2020-10-311,251,540
Acturial value of plan assets2020-10-311,251,540
Funding target for retired participants and beneficiaries receiving payment2020-10-310
Number of terminated vested participants2020-10-310
Fundng target for terminated vested participants2020-10-310
Active participant vested funding target2020-10-311,556,174
Number of active participants2020-10-3120
Total funding liabilities for active participants2020-10-311,557,847
Total participant count2020-10-3120
Total funding target for all participants2020-10-311,557,847
Balance at beginning of prior year after applicable adjustments2020-10-310
Prefunding balance at beginning of prior year after applicable adjustments2020-10-310
Carryover balanced portion elected for use to offset prior years funding requirement2020-10-310
Prefunding balanced used to offset prior years funding requirement2020-10-310
Amount remaining of carryover balance2020-10-310
Amount remaining of prefunding balance2020-10-310
Present value of excess contributions2020-10-3117,501
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-10-3118,437
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-10-310
Reductions in caryover balances due to elections or deemed elections2020-10-310
Reductions in prefunding balances due to elections or deemed elections2020-10-310
Balance of carryovers at beginning of current year2020-10-310
Balance of prefunding at beginning of current year2020-10-310
Total employer contributions2020-10-31122,400
Total employee contributions2020-10-310
Contributions allocated toward unpaid minimum require contributions from prior years2020-10-310
Contributions made to avoid restrictions adjusted to valuation date2020-10-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-10-31117,587
Liquidity shortfalls end of Q12020-10-310
Liquidity shortfalls end of Q22020-10-310
Liquidity shortfalls end of Q32020-10-310
Liquidity shortfalls end of Q42020-10-310
Unpaid minimum required contributions for all prior years2020-10-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-10-310
Remaining amount of unpaid minimum required contributions2020-10-310
Minimum required contributions for current year target normal cost2020-10-3148,297
Net shortfall amortization installment of oustanding balance2020-10-31306,307
Waiver amortization installment2020-10-310
Total funding amount beforereflecting carryover/prefunding balances2020-10-31117,398
Carryover balance elected to use to offset funding requirement2020-10-310
Prefunding balance elected to use to offset funding requirement2020-10-310
Additional cash requirement2020-10-31117,398
Contributions allocatedtoward minimum required contributions for current year2020-10-31117,587
Unpaid minimum required contributions for current year2020-10-310
Unpaid minimum required contributions for all years2020-10-310
2019: BANK OF GLEASON RETIREMENT PENSION PLAN 2019 401k membership
Market value of plan assets2019-10-311,328,787
Acturial value of plan assets2019-10-311,328,787
Funding target for retired participants and beneficiaries receiving payment2019-10-310
Number of terminated vested participants2019-10-310
Fundng target for terminated vested participants2019-10-310
Active participant vested funding target2019-10-311,659,262
Number of active participants2019-10-3121
Total funding liabilities for active participants2019-10-311,659,768
Total participant count2019-10-3121
Total funding target for all participants2019-10-311,659,768
Balance at beginning of prior year after applicable adjustments2019-10-310
Prefunding balance at beginning of prior year after applicable adjustments2019-10-310
Carryover balanced portion elected for use to offset prior years funding requirement2019-10-310
Prefunding balanced used to offset prior years funding requirement2019-10-310
Amount remaining of carryover balance2019-10-310
Amount remaining of prefunding balance2019-10-310
Present value of excess contributions2019-10-319,893
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-10-3110,437
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-10-310
Reductions in caryover balances due to elections or deemed elections2019-10-310
Reductions in prefunding balances due to elections or deemed elections2019-10-310
Balance of carryovers at beginning of current year2019-10-310
Balance of prefunding at beginning of current year2019-10-310
Total employer contributions2019-10-31154,910
Total employee contributions2019-10-310
Contributions allocated toward unpaid minimum require contributions from prior years2019-10-310
Contributions made to avoid restrictions adjusted to valuation date2019-10-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-10-31147,620
Unpaid minimum required contributions for all prior years2019-10-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-10-310
Remaining amount of unpaid minimum required contributions2019-10-310
Minimum required contributions for current year target normal cost2019-10-3165,140
Net shortfall amortization installment of oustanding balance2019-10-31330,981
Waiver amortization installment2019-10-310
Total funding amount beforereflecting carryover/prefunding balances2019-10-31130,119
Additional cash requirement2019-10-31130,119
Contributions allocatedtoward minimum required contributions for current year2019-10-31147,620
Unpaid minimum required contributions for current year2019-10-310
Unpaid minimum required contributions for all years2019-10-310
2018: BANK OF GLEASON RETIREMENT PENSION PLAN 2018 401k membership
Market value of plan assets2018-10-311,354,420
Acturial value of plan assets2018-10-311,354,420
Funding target for retired participants and beneficiaries receiving payment2018-10-310
Number of terminated vested participants2018-10-310
Fundng target for terminated vested participants2018-10-310
Active participant vested funding target2018-10-311,510,616
Number of active participants2018-10-3122
Total funding liabilities for active participants2018-10-311,511,365
Total participant count2018-10-3122
Total funding target for all participants2018-10-311,511,365
Balance at beginning of prior year after applicable adjustments2018-10-310
Prefunding balance at beginning of prior year after applicable adjustments2018-10-310
Carryover balanced portion elected for use to offset prior years funding requirement2018-10-310
Prefunding balanced used to offset prior years funding requirement2018-10-310
Amount remaining of carryover balance2018-10-310
Amount remaining of prefunding balance2018-10-310
Present value of excess contributions2018-10-31186
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-10-31197
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-10-310
Reductions in caryover balances due to elections or deemed elections2018-10-310
Reductions in prefunding balances due to elections or deemed elections2018-10-310
Balance of carryovers at beginning of current year2018-10-310
Balance of prefunding at beginning of current year2018-10-310
Total employer contributions2018-10-31109,800
Total employee contributions2018-10-310
Contributions allocated toward unpaid minimum require contributions from prior years2018-10-310
Contributions made to avoid restrictions adjusted to valuation date2018-10-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-10-31105,125
Unpaid minimum required contributions for all prior years2018-10-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-10-310
Remaining amount of unpaid minimum required contributions2018-10-310
Minimum required contributions for current year target normal cost2018-10-3163,022
Net shortfall amortization installment of oustanding balance2018-10-31156,945
Waiver amortization installment2018-10-310
Total funding amount beforereflecting carryover/prefunding balances2018-10-3195,232
Additional cash requirement2018-10-3195,232
Contributions allocatedtoward minimum required contributions for current year2018-10-31105,125
Unpaid minimum required contributions for current year2018-10-310
Unpaid minimum required contributions for all years2018-10-310
2017: BANK OF GLEASON RETIREMENT PENSION PLAN 2017 401k membership
Market value of plan assets2017-10-311,308,433
Acturial value of plan assets2017-10-311,308,433
Funding target for retired participants and beneficiaries receiving payment2017-10-310
Number of terminated vested participants2017-10-310
Fundng target for terminated vested participants2017-10-310
Active participant vested funding target2017-10-311,401,580
Number of active participants2017-10-3122
Total funding liabilities for active participants2017-10-311,401,757
Total participant count2017-10-3122
Total funding target for all participants2017-10-311,401,757
Balance at beginning of prior year after applicable adjustments2017-10-31135,288
Prefunding balance at beginning of prior year after applicable adjustments2017-10-310
Carryover balanced portion elected for use to offset prior years funding requirement2017-10-310
Prefunding balanced used to offset prior years funding requirement2017-10-310
Amount remaining of carryover balance2017-10-31135,288
Amount remaining of prefunding balance2017-10-310
Present value of excess contributions2017-10-3191,344
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-10-3197,245
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-10-310
Reductions in caryover balances due to elections or deemed elections2017-10-31137,304
Reductions in prefunding balances due to elections or deemed elections2017-10-310
Balance of carryovers at beginning of current year2017-10-310
Balance of prefunding at beginning of current year2017-10-310
Total employer contributions2017-10-3181,546
Total employee contributions2017-10-310
Contributions allocated toward unpaid minimum require contributions from prior years2017-10-310
Contributions made to avoid restrictions adjusted to valuation date2017-10-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-10-3178,909
Liquidity shortfalls end of Q12017-10-310
Liquidity shortfalls end of Q22017-10-310
Liquidity shortfalls end of Q32017-10-310
Liquidity shortfalls end of Q42017-10-310
Unpaid minimum required contributions for all prior years2017-10-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-10-310
Remaining amount of unpaid minimum required contributions2017-10-310
Minimum required contributions for current year target normal cost2017-10-3164,244
Net shortfall amortization installment of oustanding balance2017-10-3160,649
Waiver amortization installment2017-10-310
Total funding amount beforereflecting carryover/prefunding balances2017-10-3178,723
Carryover balance elected to use to offset funding requirement2017-10-310
Prefunding balance elected to use to offset funding requirement2017-10-310
Additional cash requirement2017-10-3178,723
Contributions allocatedtoward minimum required contributions for current year2017-10-3178,909
Unpaid minimum required contributions for current year2017-10-310
Unpaid minimum required contributions for all years2017-10-310

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