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ELECTROFORMERS, INC. PENSION PLAN 401k Plan overview

Plan NameELECTROFORMERS, INC. PENSION PLAN
Plan identification number 001

ELECTROFORMERS, INC. PENSION PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily flat dollar (includes dollars per year of service)
  • 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

ELECTROFORMERS, INC. has sponsored the creation of one or more 401k plans.

Company Name:ELECTROFORMERS, INC.
Employer identification number (EIN):060991773
NAIC Classification:332900

Form 5500 Filing Information

Submission information for form 5500 for 401k plan ELECTROFORMERS, INC. PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012020-11-01CINDY PALOMBA2021-08-09 CINDY PALOMBA2021-08-09
0012019-11-01CINDY PALOMBA2021-08-09 CINDY PALOMBA2021-08-09
0012018-11-01CINDY PALOMBA2020-08-11 CINDY PALOMBA2020-08-11
0012017-11-01CINDY PALOMBA2019-07-26 CINDY PALOMBA2019-07-26
0012016-11-01CINDY PALOMBA2018-08-07 CINDY PALOMBA2018-08-07
0012015-11-01CINDY PALOMBA2017-08-02 CINDY PALOMBA2017-08-02
0012014-11-01CINDY PALOMBA2016-08-04 CINDY PALOMBA2016-08-04
0012013-11-01CINDY PALOMBA2015-06-24
0012012-11-01CINDY PALOMBA2014-08-05
0012011-11-01CINDY PALOMBA2013-07-15
0012010-11-01CINDY PALOMBA2012-05-24
0012008-11-01

Plan Statistics for ELECTROFORMERS, INC. PENSION PLAN

401k plan membership statisitcs for ELECTROFORMERS, INC. PENSION PLAN

Measure Date Value
2020: ELECTROFORMERS, INC. PENSION PLAN 2020 401k membership
Market value of plan assets2020-10-311,225,406
Acturial value of plan assets2020-10-311,225,406
Funding target for retired participants and beneficiaries receiving payment2020-10-3179,589
Number of terminated vested participants2020-10-3112
Fundng target for terminated vested participants2020-10-31155,676
Active participant vested funding target2020-10-31747,729
Number of active participants2020-10-3145
Total funding liabilities for active participants2020-10-31747,729
Total participant count2020-10-3159
Total funding target for all participants2020-10-31982,994
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 contributions2020-10-31356,102
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-10-31376,578
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 contributions2020-10-31125,773
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 date2020-10-31121,881
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 cost2020-10-315,000
Net shortfall amortization installment of oustanding balance2020-10-310
Waiver amortization installment2020-10-310
Total funding amount beforereflecting carryover/prefunding balances2020-10-310
Carryover balance elected to use to offset funding requirement2020-10-310
Prefunding balance elected to use to offset funding requirement2020-10-310
Additional cash requirement2020-10-310
Contributions allocatedtoward minimum required contributions for current year2020-10-31121,881
Unpaid minimum required contributions for current year2020-10-310
Unpaid minimum required contributions for all years2020-10-310
2019: ELECTROFORMERS, INC. PENSION PLAN 2019 401k membership
Market value of plan assets2019-10-31716,817
Acturial value of plan assets2019-10-31716,817
Funding target for retired participants and beneficiaries receiving payment2019-10-3161,874
Number of terminated vested participants2019-10-3116
Fundng target for terminated vested participants2019-10-31185,663
Active participant vested funding target2019-10-31632,082
Number of active participants2019-10-3135
Total funding liabilities for active participants2019-10-31644,357
Total participant count2019-10-3152
Total funding target for all participants2019-10-31891,894
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 contributions2019-10-313,430
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-10-313,634
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 contributions2019-10-31481,879
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 date2019-10-31436,928
Liquidity shortfalls end of Q12019-10-310
Liquidity shortfalls end of Q22019-10-310
Liquidity shortfalls end of Q32019-10-310
Liquidity shortfalls end of Q42019-10-310
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 cost2019-10-3147,126
Net shortfall amortization installment of oustanding balance2019-10-31175,077
Waiver amortization installment2019-10-310
Total funding amount beforereflecting carryover/prefunding balances2019-10-3180,826
Carryover balance elected to use to offset funding requirement2019-10-310
Prefunding balance elected to use to offset funding requirement2019-10-310
Additional cash requirement2019-10-3180,826
Contributions allocatedtoward minimum required contributions for current year2019-10-31436,928
Unpaid minimum required contributions for current year2019-10-310
Unpaid minimum required contributions for all years2019-10-310
2018: ELECTROFORMERS, INC. PENSION PLAN 2018 401k membership
Market value of plan assets2018-10-31692,547
Acturial value of plan assets2018-10-31692,547
Number of terminated vested participants2018-10-3116
Fundng target for terminated vested participants2018-10-31193,504
Active participant vested funding target2018-10-31531,802
Number of active participants2018-10-3132
Total funding liabilities for active participants2018-10-31547,194
Total participant count2018-10-3148
Total funding target for all participants2018-10-31740,698
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 contributions2018-10-312,654
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-10-312,817
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 contributions2018-10-3162,078
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 date2018-10-3156,905
Liquidity shortfalls end of Q12018-10-310
Liquidity shortfalls end of Q22018-10-310
Liquidity shortfalls end of Q32018-10-310
Liquidity shortfalls end of Q42018-10-310
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 cost2018-10-3142,123
Net shortfall amortization installment of oustanding balance2018-10-3148,151
Waiver amortization installment2018-10-310
Total funding amount beforereflecting carryover/prefunding balances2018-10-3153,475
Carryover balance elected to use to offset funding requirement2018-10-310
Prefunding balance elected to use to offset funding requirement2018-10-310
Additional cash requirement2018-10-3153,475
Contributions allocatedtoward minimum required contributions for current year2018-10-3156,905
Unpaid minimum required contributions for current year2018-10-310
Unpaid minimum required contributions for all years2018-10-310
2017: ELECTROFORMERS, INC. PENSION PLAN 2017 401k membership
Market value of plan assets2017-10-31599,157
Acturial value of plan assets2017-10-31599,157
Funding target for retired participants and beneficiaries receiving payment2017-10-310
Number of terminated vested participants2017-10-3116
Fundng target for terminated vested participants2017-10-31169,969
Active participant vested funding target2017-10-31482,065
Number of active participants2017-10-3135
Total funding liabilities for active participants2017-10-31499,803
Total participant count2017-10-3151
Total funding target for all participants2017-10-31669,772
Balance at beginning of prior year after applicable adjustments2017-10-310
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 balance2017-10-310
Amount remaining of prefunding balance2017-10-310
Present value of excess contributions2017-10-3132
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-10-3134
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 elections2017-10-310
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 contributions2017-10-3163,347
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 date2017-10-3157,937
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 cost2017-10-3141,859
Net shortfall amortization installment of oustanding balance2017-10-3170,615
Waiver amortization installment2017-10-310
Total funding amount beforereflecting carryover/prefunding balances2017-10-3155,283
Carryover balance elected to use to offset funding requirement2017-10-310
Prefunding balance elected to use to offset funding requirement2017-10-310
Additional cash requirement2017-10-3155,283
Contributions allocatedtoward minimum required contributions for current year2017-10-3157,937
Unpaid minimum required contributions for current year2017-10-310
Unpaid minimum required contributions for all years2017-10-310

Form 5500 Responses for ELECTROFORMERS, INC. PENSION PLAN

2008: ELECTROFORMERS, INC. PENSION PLAN 2008 form 5500 responses
2008-11-01Type of plan entitySingle employer plan
2008-11-01Submission has been amendedNo
2008-11-01This submission is the final filingNo
2008-11-01This return/report is a short plan year return/report (less than 12 months)No
2008-11-01Plan is a collectively bargained planNo

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