Plan Name | BANK OF VERNON EMPLOYEES PROFIT SHARING PLAN |
Plan identification number | 001 |
401k Plan Type | Defined Contribution Pension |
Plan Features/Benefits |
|
Company Name: | BANK OF VERNON |
Employer identification number (EIN): | 630015480 |
NAIC Classification: | 522110 |
NAIC Description: | Commercial Banking |
Plan id# | Filing Submission Date | Name of Administrator | Date Administrator Signed | Name of Company Sponsor | Date Sponsor Signed |
---|---|---|---|---|---|
001 | 2023-01-01 | JUDY BIGGERS | 2024-07-11 | ||
001 | 2022-01-01 | JUDY BIGGGERS | 2023-09-11 | JUDY BIGGGERS | 2023-09-11 |
Measure | Date | Value |
---|---|---|
2022: BANK OF VERNON EMPLOYEES PROFIT SHARING PLAN 2022 401k membership | ||
Total participants, beginning-of-year | 2022-01-01 | 58 |
Total number of active participants reported on line 7a of the Form 5500 | 2022-01-01 | 48 |
Number of retired or separated participants receiving benefits | 2022-01-01 | 4 |
Number of other retired or separated participants entitled to future benefits | 2022-01-01 | 13 |
Total of all active and inactive participants | 2022-01-01 | 65 |
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits | 2022-01-01 | 1 |
Total participants | 2022-01-01 | 66 |
Number of participants with account balances | 2022-01-01 | 61 |
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested | 2022-01-01 | 3 |
Measure | Date | Value |
---|---|---|
2022 : BANK OF VERNON EMPLOYEES PROFIT SHARING PLAN 2022 401k financial data | ||
Total income from all sources | 2022-12-31 | $-1,032,566 |
Expenses. Total of all expenses incurred | 2022-12-31 | $172,528 |
Benefits paid (including direct rollovers) | 2022-12-31 | $170,414 |
Total plan assets at end of year | 2022-12-31 | $5,838,692 |
Total plan assets at beginning of year | 2022-12-31 | $7,043,786 |
Value of fidelity bond covering the plan | 2022-12-31 | $500,000 |
Total contributions received or receivable from participants | 2022-12-31 | $100,045 |
Assets. Value of loans (other than to participants) | 2022-12-31 | $39,444 |
Contributions received from other sources (not participants or employers) | 2022-12-31 | $180,501 |
Other income received | 2022-12-31 | $-1,373,678 |
Net income (gross income less expenses) | 2022-12-31 | $-1,205,094 |
Net plan assets at end of year (total assets less liabilities) | 2022-12-31 | $5,838,692 |
Net plan assets at beginning of year (total assets less liabilities) | 2022-12-31 | $7,043,786 |
Total contributions received or receivable from employer(s) | 2022-12-31 | $60,566 |
Expenses. Administrative service providers (salaries,fees and commissions) | 2022-12-31 | $2,114 |
2022: BANK OF VERNON EMPLOYEES PROFIT SHARING PLAN 2022 form 5500 responses | ||
---|---|---|
2022-01-01 | Type of plan entity | Single employer plan |
2022-01-01 | Submission has been amended | No |
2022-01-01 | This submission is the final filing | No |
2022-01-01 | This return/report is a short plan year return/report (less than 12 months) | No |
2022-01-01 | Plan is a collectively bargained plan | No |
2022-01-01 | Plan funding arrangement – Insurance | Yes |
2022-01-01 | Plan funding arrangement – Trust | Yes |
2022-01-01 | Plan benefit arrangement – Insurance | Yes |
2022-01-01 | Plan benefit arrangement - Trust | Yes |