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BOYAS EXCAVATING, INC. CASH BALANCE PLAN 401k Plan overview

Plan NameBOYAS EXCAVATING, INC. CASH BALANCE PLAN
Plan identification number 002

BOYAS EXCAVATING, INC. CASH BALANCE 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).
  • Floor-offset plan - Plan benefits are subject to offset for retirement benefits provided by an employer-sponsored defined contribution plan.
  • 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.

401k Sponsoring company profile

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

Company Name:BOYAS EXCAVATING, INC.
Employer identification number (EIN):340877665
NAIC Classification:237990
NAIC Description:Other Heavy and Civil Engineering Construction

Additional information about BOYAS EXCAVATING, INC.

Jurisdiction of Incorporation: Ohio Secretary of State Business Services Division
Incorporation Date: 1961-05-24
Company Identification Number: 300776
Legal Registered Office Address: 537 LEE LORE DRIVE
-
CHIPPEWA LAKE
United States of America (USA)
44215

More information about BOYAS EXCAVATING, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BOYAS EXCAVATING, INC. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022020-01-01CYNTHIA RHYNER2020-04-13
0022019-01-01CYNTHIA RHYNER2020-04-14
0022018-01-01CYNTHIA RHYNER2019-08-19
0022017-01-01MICHAEL BOYAS2018-09-26
0022016-01-01MICHAEL BOYAS2017-09-25
0022015-01-01MICHAEL BOYAS2016-10-11

Plan Statistics for BOYAS EXCAVATING, INC. CASH BALANCE PLAN

401k plan membership statisitcs for BOYAS EXCAVATING, INC. CASH BALANCE PLAN

Measure Date Value
2019: BOYAS EXCAVATING, INC. CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-311,524,413
Acturial value of plan assets2019-12-311,524,413
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-312
Fundng target for terminated vested participants2019-12-311,367,557
Active participant vested funding target2019-12-310
Number of active participants2019-12-310
Total funding liabilities for active participants2019-12-310
Total participant count2019-12-312
Total funding target for all participants2019-12-311,367,557
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 contributions2019-12-3184,799
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-3184,799
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 contributions2019-12-310
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 date2019-12-310
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 cost2019-12-3180,906
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-310
Additional cash requirement2019-12-310
Contributions allocatedtoward minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: BOYAS EXCAVATING, INC. CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-311,076,009
Acturial value of plan assets2018-12-311,076,009
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-310
Fundng target for terminated vested participants2018-12-310
Active participant vested funding target2018-12-31993,486
Number of active participants2018-12-3118
Total funding liabilities for active participants2018-12-31993,486
Total participant count2018-12-3118
Total funding target for all participants2018-12-31993,486
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 contributions2018-12-31139,856
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-31139,856
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-310
Total employer contributions2018-12-31305,230
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 date2018-12-31297,175
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 cost2018-12-31294,899
Net shortfall amortization installment of oustanding balance2018-12-310
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31212,376
Additional cash requirement2018-12-31212,376
Contributions allocatedtoward minimum required contributions for current year2018-12-31297,175
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: BOYAS EXCAVATING, INC. CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-12-31811,371
Acturial value of plan assets2017-12-31811,371
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-310
Fundng target for terminated vested participants2017-12-310
Active participant vested funding target2017-12-31646,464
Number of active participants2017-12-3118
Total funding liabilities for active participants2017-12-31646,464
Total participant count2017-12-3118
Total funding target for all participants2017-12-31646,464
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-310
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 balance2017-12-310
Amount remaining of prefunding balance2017-12-310
Present value of excess contributions2017-12-31142,347
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-31142,347
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 year2017-12-310
Total employer contributions2017-12-31305,230
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 date2017-12-31294,674
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 cost2017-12-31319,725
Total funding amount beforereflecting carryover/prefunding balances2017-12-31154,818
Additional cash requirement2017-12-31154,818
Contributions allocatedtoward minimum required contributions for current year2017-12-31294,674
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: BOYAS EXCAVATING, INC. CASH BALANCE PLAN 2016 401k membership
Market value of plan assets2016-12-31424,376
Acturial value of plan assets2016-12-31424,376
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-310
Fundng target for terminated vested participants2016-12-310
Active participant vested funding target2016-12-310
Number of active participants2016-12-3118
Total funding liabilities for active participants2016-12-31302,909
Total participant count2016-12-3118
Total funding target for all participants2016-12-31302,909
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-310
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 balance2016-12-310
Present value of excess contributions2016-12-3143,470
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-3143,470
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 year2016-12-310
Total employer contributions2016-12-31333,376
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 date2016-12-31321,323
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 cost2016-12-31300,443
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-31178,976
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-31178,976
Contributions allocatedtoward minimum required contributions for current year2016-12-31321,323
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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