401k Plan data: KFS DEFINED BENEFIT PLAN plan

KFS DEFINED BENEFIT PLAN 401k Plan overview

Plan Name	KFS DEFINED BENEFIT PLAN
Plan identification number	003

KFS DEFINED BENEFIT PLAN Benefits

401k Plan Type

Defined Benefit Pension

Plan Features/Benefits

Benefits are primarily pay related
Plan covered by PBGC that was terminated and closed out for PBGC purposes - Before the end of the plan year (or a prior plan year), (1) the plan terminated in a standard (or distress) termination and completed the distribution of plan assets in satisfaction of all benefit liabilities (or all ERISA Title IV benefits for distress termination); or (2) a trustee was appointed for a terminated plan pursuant to ERISA section 4042.
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

KENNEBEC SAVINGS BANK has sponsored the creation of one or more 401k plans.

Company Name: KENNEBEC SAVINGS BANK

Employer identification number (EIN): 010100490

NAIC Classification: 522120
NAIC Description: Savings Institutions

Additional information about KENNEBEC SAVINGS BANK

Jurisdiction of Incorporation: Maine Bureau of Corporations, Elections & Commissions

Incorporation Date:

Company Identification Number: 18700001B

More information about KENNEBEC SAVINGS BANK

Form 5500 Filing Information

Submission information for form 5500 for 401k plan KFS DEFINED BENEFIT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
003 2021-07-01
003 2021-04-01

Plan Statistics for KFS DEFINED BENEFIT PLAN

401k plan membership statisitcs for KFS DEFINED BENEFIT PLAN

Measure Date Value
2021: KFS DEFINED BENEFIT PLAN 2021 401k membership
Market value of plan assets 2021-06-30 2,973,774
Acturial value of plan assets 2021-06-30 2,973,774
Funding target for retired participants and beneficiaries receiving payment 2021-06-30 1,172,025
Number of terminated vested participants 2021-06-30 10
Fundng target for terminated vested participants 2021-06-30 237,341
Active participant vested funding target 2021-06-30 829,135
Number of active participants 2021-06-30 12
Total funding liabilities for active participants 2021-06-30 829,135
Total participant count 2021-06-30 33
Total funding target for all participants 2021-06-30 2,238,501
Balance at beginning of prior year after applicable adjustments 2021-06-30 0
Prefunding balance at beginning of prior year after applicable adjustments 2021-06-30 0
Carryover balanced portion elected for use to offset prior years funding requirement 2021-06-30 0
Prefunding balanced used to offset prior years funding requirement 2021-06-30 0
Amount remaining of carryover balance 2021-06-30 0
Amount remaining of prefunding balance 2021-06-30 0
Present value of excess contributions 2021-06-30 0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2021-06-30 0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2021-06-30 0
Reductions in caryover balances due to elections or deemed elections 2021-06-30 0
Reductions in prefunding balances due to elections or deemed elections 2021-06-30 0
Balance of carryovers at beginning of current year 2021-06-30 0
Balance of prefunding at beginning of current year 2021-06-30 0
Total employer contributions 2021-06-30 3,135,914
Total employee contributions 2021-06-30 0
Contributions allocated toward unpaid minimum require contributions from prior years 2021-06-30 0
Contributions made to avoid restrictions adjusted to valuation date 2021-06-30 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2021-06-30 3,109,546
Unpaid minimum required contributions for all prior years 2021-06-30 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2021-06-30 0
Remaining amount of unpaid minimum required contributions 2021-06-30 0
Minimum required contributions for current year target normal cost 2021-06-30 0
Net shortfall amortization installment of oustanding balance 2021-06-30 0
Waiver amortization installment 2021-06-30 0
Total funding amount beforereflecting carryover/prefunding balances 2021-06-30 0
Additional cash requirement 2021-06-30 0
Contributions allocatedtoward minimum required contributions for current year 2021-06-30 3,109,546
Unpaid minimum required contributions for current year 2021-06-30 0
Unpaid minimum required contributions for all years 2021-06-30 0

Measure	Date	Value
2021: KFS DEFINED BENEFIT PLAN 2021 401k membership
Market value of plan assets	2021-06-30	2,973,774
Acturial value of plan assets	2021-06-30	2,973,774
Funding target for retired participants and beneficiaries receiving payment	2021-06-30	1,172,025
Number of terminated vested participants	2021-06-30	10
Fundng target for terminated vested participants	2021-06-30	237,341
Active participant vested funding target	2021-06-30	829,135
Number of active participants	2021-06-30	12
Total funding liabilities for active participants	2021-06-30	829,135
Total participant count	2021-06-30	33
Total funding target for all participants	2021-06-30	2,238,501
Balance at beginning of prior year after applicable adjustments	2021-06-30	0
Prefunding balance at beginning of prior year after applicable adjustments	2021-06-30	0
Carryover balanced portion elected for use to offset prior years funding requirement	2021-06-30	0
Prefunding balanced used to offset prior years funding requirement	2021-06-30	0
Amount remaining of carryover balance	2021-06-30	0
Amount remaining of prefunding balance	2021-06-30	0
Present value of excess contributions	2021-06-30	0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2021-06-30	0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2021-06-30	0
Reductions in caryover balances due to elections or deemed elections	2021-06-30	0
Reductions in prefunding balances due to elections or deemed elections	2021-06-30	0
Balance of carryovers at beginning of current year	2021-06-30	0
Balance of prefunding at beginning of current year	2021-06-30	0
Total employer contributions	2021-06-30	3,135,914
Total employee contributions	2021-06-30	0
Contributions allocated toward unpaid minimum require contributions from prior years	2021-06-30	0
Contributions made to avoid restrictions adjusted to valuation date	2021-06-30	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2021-06-30	3,109,546
Unpaid minimum required contributions for all prior years	2021-06-30	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2021-06-30	0
Remaining amount of unpaid minimum required contributions	2021-06-30	0
Minimum required contributions for current year target normal cost	2021-06-30	0
Net shortfall amortization installment of oustanding balance	2021-06-30	0
Waiver amortization installment	2021-06-30	0
Total funding amount beforereflecting carryover/prefunding balances	2021-06-30	0
Additional cash requirement	2021-06-30	0
Contributions allocatedtoward minimum required contributions for current year	2021-06-30	3,109,546
Unpaid minimum required contributions for current year	2021-06-30	0
Unpaid minimum required contributions for all years	2021-06-30	0

Potentially related plans

KFS DEFINED CONTRIBUTION PLAN [EIN = 010100387]

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Company Name:	KENNEBEC SAVINGS BANK
Employer identification number (EIN):	010100490
NAIC Classification:	522120
NAIC Description:	Savings Institutions

Jurisdiction of Incorporation:	Maine Bureau of Corporations, Elections & Commissions
Incorporation Date:
Company Identification Number:	18700001B