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PROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN 401k Plan overview

Plan NamePROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN
Plan identification number 001

PROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN 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).

401k Sponsoring company profile

PROPERTY MANAGEMENT GROUP, INC. has sponsored the creation of one or more 401k plans.

Company Name:PROPERTY MANAGEMENT GROUP, INC.
Employer identification number (EIN):901118222
NAIC Classification:531310

Additional information about PROPERTY MANAGEMENT GROUP, INC.

Jurisdiction of Incorporation: California Department of State
Incorporation Date: 1987-03-24
Company Identification Number: C1402758
Legal Registered Office Address: 4041 Marlton Ave #254

Los Angeles
United States of America (USA)
90008

More information about PROPERTY MANAGEMENT GROUP, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012018-01-01JACK YOUDAI2019-10-09 JACK YOUDAI2019-10-09
0012017-01-01
0012016-01-01
0012015-01-01JACK YOUDAI JACK YOUDAI2016-10-04

Plan Statistics for PROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN

401k plan membership statisitcs for PROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN

Measure Date Value
2018: PROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN 2018 401k membership
Market value of plan assets2018-12-317,184,760
Acturial value of plan assets2018-12-317,184,760
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-311
Fundng target for terminated vested participants2018-12-3110,731
Active participant vested funding target2018-12-314,882,688
Number of active participants2018-12-3112
Total funding liabilities for active participants2018-12-314,882,688
Total participant count2018-12-3113
Total funding target for all participants2018-12-314,893,419
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-31403,019
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 balance2018-12-31403,019
Present value of excess contributions2018-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-310
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 year2018-12-31571,441
Total employer contributions2018-12-310
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 date2018-12-310
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 cost2018-12-31439,247
Net shortfall amortization installment of oustanding balance2018-12-310
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-310
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-310
Contributions allocatedtoward minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
Total participants, beginning-of-year2018-01-0113
Total number of active participants reported on line 7a of the Form 55002018-01-0112
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-011
Total of all active and inactive participants2018-01-0113
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-0113
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010
2017: PROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN 2017 401k membership
Market value of plan assets2017-12-317,175,928
Acturial value of plan assets2017-12-317,175,928
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-311
Fundng target for terminated vested participants2017-12-3112,859
Active participant vested funding target2017-12-314,741,929
Number of active participants2017-12-3112
Total funding liabilities for active participants2017-12-314,741,929
Total participant count2017-12-3113
Total funding target for all participants2017-12-314,754,788
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-31526,949
Carryover balanced portion elected for use to offset prior years funding requirement2017-12-310
Prefunding balanced used to offset prior years funding requirement2017-12-31155,913
Amount remaining of carryover balance2017-12-310
Amount remaining of prefunding balance2017-12-31371,036
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 elections2017-12-310
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 year2017-12-31403,019
Total employer contributions2017-12-310
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 date2017-12-310
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 cost2017-12-31428,247
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-310
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-310
Contributions allocatedtoward minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
Total participants, beginning-of-year2017-01-0113
Total number of active participants reported on line 7a of the Form 55002017-01-0112
Number of retired or separated participants receiving benefits2017-01-010
Number of other retired or separated participants entitled to future benefits2017-01-011
Total of all active and inactive participants2017-01-0113
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-0113
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-010
2016: PROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN 2016 401k membership
Market value of plan assets2016-12-314,763,205
Acturial value of plan assets2016-12-314,763,205
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-312
Fundng target for terminated vested participants2016-12-3121,542
Active participant vested funding target2016-12-314,221,614
Number of active participants2016-12-3110
Total funding liabilities for active participants2016-12-314,221,614
Total participant count2016-12-3112
Total funding target for all participants2016-12-314,243,156
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-31506,974
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 balance2016-12-31506,974
Present value of excess contributions2016-12-311,075
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-311,075
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 year2016-12-31526,949
Total employer contributions2016-12-31350,000
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 date2016-12-31327,460
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 cost2016-12-31467,747
Net shortfall amortization installment of oustanding balance2016-12-3134,038
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-31491,402
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-31163,942
Additional cash requirement2016-12-31327,460
Contributions allocatedtoward minimum required contributions for current year2016-12-31327,460
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310
Total participants, beginning-of-year2016-01-0114
Total number of active participants reported on line 7a of the Form 55002016-01-0110
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-012
Total of all active and inactive participants2016-01-0112
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-0112
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-010
2015: PROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-0114
Total number of active participants reported on line 7a of the Form 55002015-01-0110
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-014
Total of all active and inactive participants2015-01-0114
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-0114
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-010

Financial Data on PROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN

Measure Date Value
2018 : PROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN 2018 401k financial data
Total plan liabilities at end of year2018-12-31$0
Total plan liabilities at beginning of year2018-12-31$0
Total income from all sources2018-12-31$8,832
Expenses. Total of all expenses incurred2018-12-31$0
Total plan assets at end of year2018-12-31$7,184,760
Total plan assets at beginning of year2018-12-31$7,175,928
Value of fidelity bond covering the plan2018-12-31$500,000
Other income received2018-12-31$8,832
Net income (gross income less expenses)2018-12-31$8,832
Net plan assets at end of year (total assets less liabilities)2018-12-31$7,184,760
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$7,175,928
Assets. Value of real-estate (other than employer real property)2018-12-31$5,229,200
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2018-12-31$0
2017 : PROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN 2017 401k financial data
Total plan liabilities at end of year2017-12-31$0
Total plan liabilities at beginning of year2017-12-31$0
Total income from all sources2017-12-31$2,275,673
Expenses. Total of all expenses incurred2017-12-31$212,950
Total plan assets at end of year2017-12-31$7,175,928
Total plan assets at beginning of year2017-12-31$5,113,205
Value of fidelity bond covering the plan2017-12-31$300,000
Expenses. Other expenses not covered elsewhere2017-12-31$208,846
Other income received2017-12-31$2,275,673
Net income (gross income less expenses)2017-12-31$2,062,723
Net plan assets at end of year (total assets less liabilities)2017-12-31$7,175,928
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$5,113,205
Assets. Value of real-estate (other than employer real property)2017-12-31$5,394,996
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$4,104
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2017-12-31$0
2016 : PROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN 2016 401k financial data
Total plan liabilities at end of year2016-12-31$0
Total plan liabilities at beginning of year2016-12-31$0
Total income from all sources2016-12-31$742,766
Expenses. Total of all expenses incurred2016-12-31$57,332
Benefits paid (including direct rollovers)2016-12-31$29,793
Total plan assets at end of year2016-12-31$5,113,205
Total plan assets at beginning of year2016-12-31$4,427,771
Value of fidelity bond covering the plan2016-12-31$300,000
Total contributions received or receivable from participants2016-12-31$0
Expenses. Other expenses not covered elsewhere2016-12-31$22,183
Contributions received from other sources (not participants or employers)2016-12-31$0
Other income received2016-12-31$392,766
Noncash contributions received2016-12-31$0
Net income (gross income less expenses)2016-12-31$685,434
Net plan assets at end of year (total assets less liabilities)2016-12-31$5,113,205
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$4,427,771
Assets. Value of real-estate (other than employer real property)2016-12-31$3,608,108
Total contributions received or receivable from employer(s)2016-12-31$350,000
Value of certain deemed distributions of participant loans2016-12-31$0
Value of corrective distributions2016-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2016-12-31$5,356
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2016-12-31$0
2015 : PROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN 2015 401k financial data
Transfers to/from the plan2015-12-31$0
Total plan liabilities at end of year2015-12-31$0
Total plan liabilities at beginning of year2015-12-31$0
Total income from all sources2015-12-31$811,750
Expenses. Total of all expenses incurred2015-12-31$272,615
Benefits paid (including direct rollovers)2015-12-31$19,725
Total plan assets at end of year2015-12-31$4,427,771
Total plan assets at beginning of year2015-12-31$3,888,636
Value of fidelity bond covering the plan2015-12-31$300,000
Total contributions received or receivable from participants2015-12-31$0
Expenses. Other expenses not covered elsewhere2015-12-31$248,568
Contributions received from other sources (not participants or employers)2015-12-31$0
Other income received2015-12-31$401,216
Noncash contributions received2015-12-31$0
Net income (gross income less expenses)2015-12-31$539,135
Net plan assets at end of year (total assets less liabilities)2015-12-31$4,427,771
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$3,888,636
Assets. Value of real-estate (other than employer real property)2015-12-31$3,229,341
Total contributions received or receivable from employer(s)2015-12-31$410,534
Value of certain deemed distributions of participant loans2015-12-31$0
Value of corrective distributions2015-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2015-12-31$4,322
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2015-12-31$0

Form 5500 Responses for PROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN

2018: PROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedNo
2018-01-01This submission is the final filingNo
2018-01-01This return/report is a short plan year return/report (less than 12 months)No
2018-01-01Plan is a collectively bargained planNo
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: PROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedNo
2017-01-01This submission is the final filingNo
2017-01-01This return/report is a short plan year return/report (less than 12 months)No
2017-01-01Plan is a collectively bargained planNo
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: PROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Submission has been amendedNo
2016-01-01This submission is the final filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes
2015: PROPERTY MANAGEMENT GROUP, INC. CASH BALANCE PENSION PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingNo
2015-01-01This return/report is a short plan year return/report (less than 12 months)No
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes

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