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THE BETTER BUSINESS BUREAU, INC. PENSION PLAN 401k Plan overview

Plan NameTHE BETTER BUSINESS BUREAU, INC. PENSION PLAN
Plan identification number 001

THE BETTER BUSINESS BUREAU, INC. 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).
  • Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).
  • 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 BETTER BUSINESS BUREAU, INC. has sponsored the creation of one or more 401k plans.

Company Name:THE BETTER BUSINESS BUREAU, INC.
Employer identification number (EIN):630348217
NAIC Classification:813000
NAIC Description: Religious, Grantmaking, Civic, Professional, and Similar Organizations

Additional information about THE BETTER BUSINESS BUREAU, INC.

Jurisdiction of Incorporation: New York Department of State
Incorporation Date: 1923-02-07
Company Identification Number: 18285
Legal Registered Office Address: ONE CANALSIDE
125 MAIN STREET
BUFFALO
United States of America (USA)
14203

More information about THE BETTER BUSINESS BUREAU, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE BETTER BUSINESS BUREAU, INC. PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01CARL BATES2023-10-10
0012021-01-01CARL BATES2022-09-27
0012020-01-01CARL BATES2021-10-05
0012019-01-01CARL BATES2020-10-06
0012018-01-01DAVID SMITHERMAN2019-10-15
0012017-01-01DAVID SMITHERMAN2018-10-15
0012016-01-01DAVID SMITHERMAN2017-10-16
0012015-01-01DAVID SMITHERMAN2016-10-07
0012014-01-01DAVID SMITHERMAN2015-10-15
0012013-01-01DAVID SMITHERMAN2014-10-10 DAVID SMITHERMAN2014-10-10
0012012-01-01DAVID SMITHERMAN2013-10-11
0012011-01-01DAVID SMITHERMAN2012-10-15
0012010-01-01DAVID SMITHERMAN2011-10-07

Plan Statistics for THE BETTER BUSINESS BUREAU, INC. PENSION PLAN

401k plan membership statisitcs for THE BETTER BUSINESS BUREAU, INC. PENSION PLAN

Measure Date Value
2022: THE BETTER BUSINESS BUREAU, INC. PENSION PLAN 2022 401k membership
Market value of plan assets2022-12-31358,418
Acturial value of plan assets2022-12-31358,418
Funding target for retired participants and beneficiaries receiving payment2022-12-31470,362
Number of terminated vested participants2022-12-310
Fundng target for terminated vested participants2022-12-310
Active participant vested funding target2022-12-3110,764
Number of active participants2022-12-311
Total funding liabilities for active participants2022-12-3110,764
Total participant count2022-12-313
Total funding target for all participants2022-12-31481,126
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2022-12-310
Prefunding balanced used to offset prior years funding requirement2022-12-310
Amount remaining of carryover balance2022-12-310
Amount remaining of prefunding balance2022-12-310
Present value of excess contributions2022-12-3119,410
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-3120,309
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-310
Reductions in caryover balances due to elections or deemed elections2022-12-310
Reductions in prefunding balances due to elections or deemed elections2022-12-310
Balance of carryovers at beginning of current year2022-12-310
Balance of prefunding at beginning of current year2022-12-310
Total employer contributions2022-12-3178,650
Total employee contributions2022-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2022-12-310
Contributions made to avoid restrictions adjusted to valuation date2022-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-12-3177,020
Unpaid minimum required contributions for all prior years2022-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-12-310
Remaining amount of unpaid minimum required contributions2022-12-310
Minimum required contributions for current year target normal cost2022-12-310
Net shortfall amortization installment of oustanding balance2022-12-31122,708
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-3111,340
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-3111,340
Contributions allocatedtoward minimum required contributions for current year2022-12-3177,020
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: THE BETTER BUSINESS BUREAU, INC. PENSION PLAN 2021 401k membership
Market value of plan assets2021-12-31339,551
Acturial value of plan assets2021-12-31339,551
Funding target for retired participants and beneficiaries receiving payment2021-12-31510,377
Number of terminated vested participants2021-12-310
Fundng target for terminated vested participants2021-12-310
Active participant vested funding target2021-12-3111,089
Number of active participants2021-12-311
Total funding liabilities for active participants2021-12-3111,089
Total participant count2021-12-313
Total funding target for all participants2021-12-31521,466
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2021-12-310
Prefunding balanced used to offset prior years funding requirement2021-12-310
Amount remaining of carryover balance2021-12-310
Amount remaining of prefunding balance2021-12-310
Present value of excess contributions2021-12-3115,249
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-3116,019
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 year2021-12-310
Total employer contributions2021-12-3185,800
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 date2021-12-3184,049
Liquidity shortfalls end of Q12021-12-310
Liquidity shortfalls end of Q22021-12-310
Liquidity shortfalls end of Q32021-12-310
Liquidity shortfalls end of Q42021-12-310
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 balance2021-12-31181,915
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-3164,639
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-3164,639
Contributions allocatedtoward minimum required contributions for current year2021-12-3184,049
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: THE BETTER BUSINESS BUREAU, INC. PENSION PLAN 2020 401k membership
Market value of plan assets2020-12-31305,263
Acturial value of plan assets2020-12-31305,263
Funding target for retired participants and beneficiaries receiving payment2020-12-31521,811
Number of terminated vested participants2020-12-310
Fundng target for terminated vested participants2020-12-310
Active participant vested funding target2020-12-319,331
Number of active participants2020-12-311
Total funding liabilities for active participants2020-12-319,331
Total participant count2020-12-313
Total funding target for all participants2020-12-31531,142
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-310
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 balance2020-12-310
Present value of excess contributions2020-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-310
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 year2020-12-310
Total employer contributions2020-12-3187,197
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 date2020-12-3185,229
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 cost2020-12-310
Net shortfall amortization installment of oustanding balance2020-12-31225,878
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-3169,980
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-3169,980
Contributions allocatedtoward minimum required contributions for current year2020-12-3185,229
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: THE BETTER BUSINESS BUREAU, INC. PENSION PLAN 2019 401k membership
Market value of plan assets2019-12-31270,108
Acturial value of plan assets2019-12-31270,108
Funding target for retired participants and beneficiaries receiving payment2019-12-31538,591
Number of terminated vested participants2019-12-310
Fundng target for terminated vested participants2019-12-310
Active participant vested funding target2019-12-318,382
Number of active participants2019-12-311
Total funding liabilities for active participants2019-12-318,382
Total participant count2019-12-313
Total funding target for all participants2019-12-31546,973
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-310
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 balance2019-12-310
Present value of excess contributions2019-12-316,683
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-317,043
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-310
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 year2019-12-310
Total employer contributions2019-12-3184,176
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 date2019-12-3182,362
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 cost2019-12-310
Net shortfall amortization installment of oustanding balance2019-12-31276,865
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-3182,362
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-3182,362
Contributions allocatedtoward minimum required contributions for current year2019-12-3182,362
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: THE BETTER BUSINESS BUREAU, INC. PENSION PLAN 2018 401k membership
Market value of plan assets2018-12-31268,729
Acturial value of plan assets2018-12-31268,729
Funding target for retired participants and beneficiaries receiving payment2018-12-31557,396
Number of terminated vested participants2018-12-310
Fundng target for terminated vested participants2018-12-310
Active participant vested funding target2018-12-317,485
Number of active participants2018-12-312
Total funding liabilities for active participants2018-12-317,485
Total participant count2018-12-314
Total funding target for all participants2018-12-31564,881
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-310
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 balance2018-12-310
Present value of excess contributions2018-12-315,357
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-315,658
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-310
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 year2018-12-310
Total employer contributions2018-12-3176,153
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 date2018-12-3174,528
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 cost2018-12-310
Net shortfall amortization installment of oustanding balance2018-12-31296,152
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-3167,845
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-3167,845
Contributions allocatedtoward minimum required contributions for current year2018-12-3174,528
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: THE BETTER BUSINESS BUREAU, INC. PENSION PLAN 2017 401k membership
Market value of plan assets2017-12-31275,286
Acturial value of plan assets2017-12-31275,286
Funding target for retired participants and beneficiaries receiving payment2017-12-31535,833
Number of terminated vested participants2017-12-310
Fundng target for terminated vested participants2017-12-310
Active participant vested funding target2017-12-3118,754
Number of active participants2017-12-313
Total funding liabilities for active participants2017-12-3118,754
Total participant count2017-12-315
Total funding target for all participants2017-12-31554,587
Balance at beginning of prior year after applicable adjustments2017-12-3114,216
Prefunding balance at beginning of prior year after applicable adjustments2017-12-3122,740
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 balance2017-12-3114,216
Amount remaining of prefunding balance2017-12-3122,740
Present value of excess contributions2017-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-12-310
Reductions in caryover balances due to elections or deemed elections2017-12-3114,011
Reductions in prefunding balances due to elections or deemed elections2017-12-3122,413
Balance of carryovers at beginning of current year2017-12-310
Balance of prefunding at beginning of current year2017-12-310
Total employer contributions2017-12-3175,397
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 date2017-12-3173,316
Liquidity shortfalls end of Q12017-12-310
Liquidity shortfalls end of Q22017-12-310
Liquidity shortfalls end of Q32017-12-310
Liquidity shortfalls end of Q42017-12-310
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 cost2017-12-310
Net shortfall amortization installment of oustanding balance2017-12-31279,301
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-3167,959
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-3167,959
Contributions allocatedtoward minimum required contributions for current year2017-12-3173,316
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: THE BETTER BUSINESS BUREAU, INC. PENSION PLAN 2016 401k membership
Market value of plan assets2016-12-31258,575
Acturial value of plan assets2016-12-31258,575
Funding target for retired participants and beneficiaries receiving payment2016-12-31565,392
Number of terminated vested participants2016-12-310
Fundng target for terminated vested participants2016-12-310
Active participant vested funding target2016-12-3116,935
Number of active participants2016-12-313
Total funding liabilities for active participants2016-12-3116,935
Total participant count2016-12-316
Total funding target for all participants2016-12-31582,327
Balance at beginning of prior year after applicable adjustments2016-12-3114,480
Prefunding balance at beginning of prior year after applicable adjustments2016-12-3123,162
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 balance2016-12-3114,480
Amount remaining of prefunding balance2016-12-3123,162
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 year2016-12-3114,216
Balance of prefunding at beginning of current year2016-12-3122,740
Total employer contributions2016-12-3180,816
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 date2016-12-3178,229
Liquidity shortfalls end of Q12016-12-310
Liquidity shortfalls end of Q22016-12-310
Liquidity shortfalls end of Q32016-12-310
Liquidity shortfalls end of Q42016-12-310
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 cost2016-12-310
Net shortfall amortization installment of oustanding balance2016-12-31360,707
Waiver amortization installment2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-3178,229
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-3178,229
Contributions allocatedtoward minimum required contributions for current year2016-12-3178,229
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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