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REESMAN'S EXCAVATING & GRADING, INC. CASH BALANCE PENSION PLAN 401k Plan overview

Plan NameREESMAN'S EXCAVATING & GRADING, INC. CASH BALANCE PENSION PLAN
Plan identification number 003

REESMAN'S EXCAVATING & GRADING, INC. CASH BALANCE PENSION PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • 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).
  • 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

REESMAN'S EXCAVATING & GRADING, INC has sponsored the creation of one or more 401k plans.

Company Name:REESMAN'S EXCAVATING & GRADING, INC
Employer identification number (EIN):391135035
NAIC Classification:237990
NAIC Description:Other Heavy and Civil Engineering Construction

Form 5500 Filing Information

Submission information for form 5500 for 401k plan REESMAN'S EXCAVATING & GRADING, INC. CASH BALANCE PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032022-07-01
0032021-07-01
0032020-07-01
0032019-07-01

Plan Statistics for REESMAN'S EXCAVATING & GRADING, INC. CASH BALANCE PENSION PLAN

401k plan membership statisitcs for REESMAN'S EXCAVATING & GRADING, INC. CASH BALANCE PENSION PLAN

Measure Date Value
2023: REESMAN'S EXCAVATING & GRADING, INC. CASH BALANCE PENSION PLAN 2023 401k membership
Market value of plan assets2023-06-301,175,097
Acturial value of plan assets2023-06-301,175,097
Funding target for retired participants and beneficiaries receiving payment2023-06-300
Number of terminated vested participants2023-06-303
Fundng target for terminated vested participants2023-06-3022,119
Active participant vested funding target2023-06-301,048,431
Number of active participants2023-06-3032
Total funding liabilities for active participants2023-06-301,048,431
Total participant count2023-06-3035
Total funding target for all participants2023-06-301,070,550
Balance at beginning of prior year after applicable adjustments2023-06-300
Prefunding balance at beginning of prior year after applicable adjustments2023-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2023-06-300
Prefunding balanced used to offset prior years funding requirement2023-06-300
Amount remaining of carryover balance2023-06-300
Amount remaining of prefunding balance2023-06-300
Present value of excess contributions2023-06-30234,013
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2023-06-30247,048
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2023-06-300
Reductions in caryover balances due to elections or deemed elections2023-06-300
Reductions in prefunding balances due to elections or deemed elections2023-06-300
Balance of carryovers at beginning of current year2023-06-300
Balance of prefunding at beginning of current year2023-06-300
Total employer contributions2023-06-30396,000
Total employee contributions2023-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2023-06-300
Contributions made to avoid restrictions adjusted to valuation date2023-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2023-06-30386,545
Unpaid minimum required contributions for all prior years2023-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2023-06-300
Remaining amount of unpaid minimum required contributions2023-06-300
Minimum required contributions for current year target normal cost2023-06-30337,485
Net shortfall amortization installment of oustanding balance2023-06-300
Waiver amortization installment2023-06-300
Total funding amount beforereflecting carryover/prefunding balances2023-06-30232,938
Carryover balance elected to use to offset funding requirement2023-06-300
Prefunding balance elected to use to offset funding requirement2023-06-300
Additional cash requirement2023-06-30232,938
Contributions allocatedtoward minimum required contributions for current year2023-06-30386,545
Unpaid minimum required contributions for current year2023-06-300
Unpaid minimum required contributions for all years2023-06-300
2022: REESMAN'S EXCAVATING & GRADING, INC. CASH BALANCE PENSION PLAN 2022 401k membership
Market value of plan assets2022-06-30848,270
Acturial value of plan assets2022-06-30848,270
Funding target for retired participants and beneficiaries receiving payment2022-06-300
Number of terminated vested participants2022-06-300
Fundng target for terminated vested participants2022-06-300
Active participant vested funding target2022-06-30669,180
Number of active participants2022-06-3032
Total funding liabilities for active participants2022-06-30669,180
Total participant count2022-06-3032
Total funding target for all participants2022-06-30669,180
Balance at beginning of prior year after applicable adjustments2022-06-300
Prefunding balance at beginning of prior year after applicable adjustments2022-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2022-06-300
Prefunding balanced used to offset prior years funding requirement2022-06-300
Amount remaining of carryover balance2022-06-300
Amount remaining of prefunding balance2022-06-300
Present value of excess contributions2022-06-30162,773
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-06-30172,051
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-06-300
Reductions in caryover balances due to elections or deemed elections2022-06-300
Reductions in prefunding balances due to elections or deemed elections2022-06-300
Balance of carryovers at beginning of current year2022-06-300
Balance of prefunding at beginning of current year2022-06-300
Total employer contributions2022-06-30400,000
Total employee contributions2022-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2022-06-300
Contributions made to avoid restrictions adjusted to valuation date2022-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-06-30380,474
Unpaid minimum required contributions for all prior years2022-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-06-300
Remaining amount of unpaid minimum required contributions2022-06-300
Minimum required contributions for current year target normal cost2022-06-30325,551
Net shortfall amortization installment of oustanding balance2022-06-300
Waiver amortization installment2022-06-300
Total funding amount beforereflecting carryover/prefunding balances2022-06-30146,461
Carryover balance elected to use to offset funding requirement2022-06-300
Prefunding balance elected to use to offset funding requirement2022-06-300
Additional cash requirement2022-06-30146,461
Contributions allocatedtoward minimum required contributions for current year2022-06-30380,474
Unpaid minimum required contributions for current year2022-06-300
Unpaid minimum required contributions for all years2022-06-300
2021: REESMAN'S EXCAVATING & GRADING, INC. CASH BALANCE PENSION PLAN 2021 401k membership
Market value of plan assets2021-06-30403,859
Acturial value of plan assets2021-06-30403,859
Funding target for retired participants and beneficiaries receiving payment2021-06-300
Number of terminated vested participants2021-06-300
Fundng target for terminated vested participants2021-06-300
Active participant vested funding target2021-06-30309,235
Number of active participants2021-06-3026
Total funding liabilities for active participants2021-06-30309,235
Total participant count2021-06-3026
Total funding target for all participants2021-06-30309,235
Balance at beginning of prior year after applicable adjustments2021-06-300
Prefunding balance at beginning of prior year after applicable adjustments2021-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2021-06-300
Prefunding balanced used to offset prior years funding requirement2021-06-300
Amount remaining of carryover balance2021-06-300
Amount remaining of prefunding balance2021-06-300
Present value of excess contributions2021-06-3078,339
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-06-3082,679
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-06-300
Reductions in caryover balances due to elections or deemed elections2021-06-300
Reductions in prefunding balances due to elections or deemed elections2021-06-300
Balance of carryovers at beginning of current year2021-06-300
Balance of prefunding at beginning of current year2021-06-300
Total employer contributions2021-06-30400,000
Total employee contributions2021-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2021-06-300
Contributions made to avoid restrictions adjusted to valuation date2021-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-06-30369,064
Unpaid minimum required contributions for all prior years2021-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-06-300
Remaining amount of unpaid minimum required contributions2021-06-300
Minimum required contributions for current year target normal cost2021-06-30300,915
Net shortfall amortization installment of oustanding balance2021-06-300
Waiver amortization installment2021-06-300
Total funding amount beforereflecting carryover/prefunding balances2021-06-30206,291
Carryover balance elected to use to offset funding requirement2021-06-300
Prefunding balance elected to use to offset funding requirement2021-06-300
Additional cash requirement2021-06-30206,291
Contributions allocatedtoward minimum required contributions for current year2021-06-30369,064
Unpaid minimum required contributions for current year2021-06-300
Unpaid minimum required contributions for all years2021-06-300
2020: REESMAN'S EXCAVATING & GRADING, INC. CASH BALANCE PENSION PLAN 2020 401k membership
Market value of plan assets2020-06-300
Acturial value of plan assets2020-06-300
Funding target for retired participants and beneficiaries receiving payment2020-06-300
Number of terminated vested participants2020-06-300
Fundng target for terminated vested participants2020-06-300
Active participant vested funding target2020-06-300
Number of active participants2020-06-3025
Total funding liabilities for active participants2020-06-300
Total participant count2020-06-3025
Total funding target for all participants2020-06-300
Balance at beginning of prior year after applicable adjustments2020-06-300
Prefunding balance at beginning of prior year after applicable adjustments2020-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2020-06-300
Prefunding balanced used to offset prior years funding requirement2020-06-300
Amount remaining of carryover balance2020-06-300
Amount remaining of prefunding balance2020-06-300
Present value of excess contributions2020-06-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-06-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-06-300
Reductions in caryover balances due to elections or deemed elections2020-06-300
Reductions in prefunding balances due to elections or deemed elections2020-06-300
Balance of carryovers at beginning of current year2020-06-300
Balance of prefunding at beginning of current year2020-06-300
Total employer contributions2020-06-30399,148
Total employee contributions2020-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2020-06-300
Contributions made to avoid restrictions adjusted to valuation date2020-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-06-30378,289
Unpaid minimum required contributions for all prior years2020-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-06-300
Remaining amount of unpaid minimum required contributions2020-06-300
Minimum required contributions for current year target normal cost2020-06-30299,950
Net shortfall amortization installment of oustanding balance2020-06-300
Waiver amortization installment2020-06-300
Total funding amount beforereflecting carryover/prefunding balances2020-06-30299,950
Carryover balance elected to use to offset funding requirement2020-06-300
Prefunding balance elected to use to offset funding requirement2020-06-300
Additional cash requirement2020-06-30299,950
Contributions allocatedtoward minimum required contributions for current year2020-06-30378,289
Unpaid minimum required contributions for current year2020-06-300
Unpaid minimum required contributions for all years2020-06-300

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