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| Plan Name | CIT GROUP, INC. RETIREMENT PLAN |
| Plan identification number | 005 |
| 401k Plan Type | Defined Benefit Pension |
| Plan Features/Benefits |
|
| Company Name: | FIRST CITIZENS BANK & TRUST COMPANY |
| Employer identification number (EIN): | 560223230 |
| NAIC Classification: | 522110 |
| NAIC Description: | Commercial Banking |
Additional information about FIRST CITIZENS BANK & TRUST COMPANY
| Jurisdiction of Incorporation: | Virginia Secretary of State |
| Incorporation Date: | 1994-09-19 |
| Company Identification Number: | 0433944 |
| Legal Registered Office Address: |
112 EAST HICKS STREET P. O. BOX 8 LAWRENCEVILLE United States of America (USA) 23868 |
More information about FIRST CITIZENS BANK & TRUST COMPANY
| Plan id# | Filing Submission Date | Name of Administrator | Date Administrator Signed | Name of Company Sponsor | Date Sponsor Signed |
|---|---|---|---|---|---|
| 005 | 2024-01-01 | MELISSA TILLMAN | |||
| 005 | 2023-01-01 | ||||
| 005 | 2023-01-01 | MELISSA TILLMAN | |||
| 005 | 2022-01-01 | ||||
| 005 | 2022-01-01 | MELISSA TILLMAN |
| Measure | Date | Value |
|---|---|---|
| 2023 : CIT GROUP, INC. RETIREMENT PLAN 2023 401k financial data | ||
| Unrealized appreciation/depreciation of other (non real estate) assets | 2023-12-31 | $707,297 |
| Total unrealized appreciation/depreciation of assets | 2023-12-31 | $707,297 |
| Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2023-12-31 | $0 |
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2023-12-31 | $0 |
| Total income from all sources (including contributions) | 2023-12-31 | $25,250,019 |
| Total loss/gain on sale of assets | 2023-12-31 | $-14,087 |
| Total of all expenses incurred | 2023-12-31 | $20,086,041 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2023-12-31 | $19,597,750 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2023-12-31 | $0 |
| Value of total assets at end of year | 2023-12-31 | $320,976,920 |
| Value of total assets at beginning of year | 2023-12-31 | $315,812,942 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2023-12-31 | $488,291 |
| Total interest from all sources | 2023-12-31 | $636,965 |
| Total dividends received (eg from common stock, registered investment company shares) | 2023-12-31 | $790,580 |
| Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2023-12-31 | No |
| Total dividends received from registered investment company shares (eg mutual funds) | 2023-12-31 | $790,579 |
| Was this plan covered by a fidelity bond | 2023-12-31 | Yes |
| Value of fidelity bond cover | 2023-12-31 | $15,000,000 |
| Were there any nonexempt tranactions with any party-in-interest | 2023-12-31 | No |
| Value of other receiveables (less allowance for doubtful accounts) at end of year | 2023-12-31 | $183,049 |
| Value of other receiveables (less allowance for doubtful accounts) at beginning of year | 2023-12-31 | $0 |
| Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year | 2023-12-31 | $0 |
| Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year | 2023-12-31 | $0 |
| Other income not declared elsewhere | 2023-12-31 | $175,428 |
| Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2023-12-31 | No |
| Value of net income/loss | 2023-12-31 | $5,163,978 |
| Value of net assets at end of year (total assets less liabilities) | 2023-12-31 | $320,976,920 |
| Value of net assets at beginning of year (total assets less liabilities) | 2023-12-31 | $315,812,942 |
| Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2023-12-31 | No |
| Were any loans by the plan or fixed income obligations due to the plan in default | 2023-12-31 | No |
| Were any leases to which the plan was party in default or uncollectible | 2023-12-31 | No |
| Investment advisory and management fees | 2023-12-31 | $141,468 |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2023-12-31 | $35,910,852 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2023-12-31 | $3,536,711 |
| Income. Interest from US Government securities | 2023-12-31 | $263,700 |
| Income. Interest from corporate debt instruments | 2023-12-31 | $373,406 |
| Value of interest in common/collective trusts at end of year | 2023-12-31 | $259,998,921 |
| Value of interest in common/collective trusts at beginning of year | 2023-12-31 | $312,276,231 |
| Interest earned from interest bearing cash (including money market accounts and certificates of deposit) | 2023-12-31 | $-141 |
| Asset value of US Government securities at end of year | 2023-12-31 | $12,977,682 |
| Asset value of US Government securities at beginning of year | 2023-12-31 | $0 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2023-12-31 | $4,273,563 |
| Net investment gain or loss from common/collective trusts | 2023-12-31 | $18,680,273 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2023-12-31 | Yes |
| Was there a failure to transmit to the plan any participant contributions | 2023-12-31 | No |
| Has the plan failed to provide any benefit when due under the plan | 2023-12-31 | No |
| Income. Dividends from common stock | 2023-12-31 | $1 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2023-12-31 | $19,597,750 |
| Asset. Corporate debt instrument debt (other) at end of year | 2023-12-31 | $11,906,416 |
| Asset. Corporate debt instrument debt (other) at beginning of year | 2023-12-31 | $0 |
| Contract administrator fees | 2023-12-31 | $149,340 |
| Did the plan have assets held for investment | 2023-12-31 | Yes |
| Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser | 2023-12-31 | No |
| Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2023-12-31 | No |
| Aggregate proceeds on sale of assets | 2023-12-31 | $9,206,477 |
| Aggregate carrying amount (costs) on sale of assets | 2023-12-31 | $9,220,564 |
| Opinion of an independent qualified public accountant for this plan | 2023-12-31 | Unqualified |
| Accountancy firm name | 2023-12-31 | CHERRY BEKAERT LLP |
| Accountancy firm EIN | 2023-12-31 | 560574444 |
| Unrealized appreciation/depreciation of other (non real estate) assets | 2023-01-01 | $707,297 |
| Total unrealized appreciation/depreciation of assets | 2023-01-01 | $707,297 |
| Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2023-01-01 | $0 |
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2023-01-01 | $0 |
| Total income from all sources (including contributions) | 2023-01-01 | $25,250,019 |
| Total loss/gain on sale of assets | 2023-01-01 | $-14,087 |
| Total of all expenses incurred | 2023-01-01 | $20,086,041 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2023-01-01 | $19,597,750 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2023-01-01 | $0 |
| Value of total assets at end of year | 2023-01-01 | $320,976,920 |
| Value of total assets at beginning of year | 2023-01-01 | $315,812,942 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2023-01-01 | $488,291 |
| Total interest from all sources | 2023-01-01 | $636,965 |
| Total dividends received (eg from common stock, registered investment company shares) | 2023-01-01 | $790,580 |
| Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2023-01-01 | No |
| Total dividends received from registered investment company shares (eg mutual funds) | 2023-01-01 | $790,579 |
| Was this plan covered by a fidelity bond | 2023-01-01 | Yes |
| Value of fidelity bond cover | 2023-01-01 | $15,000,000 |
| Were there any nonexempt tranactions with any party-in-interest | 2023-01-01 | No |
| Value of other receiveables (less allowance for doubtful accounts) at end of year | 2023-01-01 | $183,049 |
| Value of other receiveables (less allowance for doubtful accounts) at beginning of year | 2023-01-01 | $0 |
| Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year | 2023-01-01 | $0 |
| Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year | 2023-01-01 | $0 |
| Other income not declared elsewhere | 2023-01-01 | $175,428 |
| Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2023-01-01 | No |
| Value of net income/loss | 2023-01-01 | $5,163,978 |
| Value of net assets at end of year (total assets less liabilities) | 2023-01-01 | $320,976,920 |
| Value of net assets at beginning of year (total assets less liabilities) | 2023-01-01 | $315,812,942 |
| Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2023-01-01 | No |
| Were any loans by the plan or fixed income obligations due to the plan in default | 2023-01-01 | No |
| Were any leases to which the plan was party in default or uncollectible | 2023-01-01 | No |
| Investment advisory and management fees | 2023-01-01 | $141,468 |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2023-01-01 | $35,910,852 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2023-01-01 | $3,536,711 |
| Income. Interest from US Government securities | 2023-01-01 | $263,700 |
| Income. Interest from corporate debt instruments | 2023-01-01 | $373,406 |
| Value of interest in common/collective trusts at end of year | 2023-01-01 | $259,998,921 |
| Value of interest in common/collective trusts at beginning of year | 2023-01-01 | $312,276,231 |
| Interest earned from interest bearing cash (including money market accounts and certificates of deposit) | 2023-01-01 | $-141 |
| Asset value of US Government securities at end of year | 2023-01-01 | $12,977,682 |
| Asset value of US Government securities at beginning of year | 2023-01-01 | $0 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2023-01-01 | $4,273,563 |
| Net investment gain or loss from common/collective trusts | 2023-01-01 | $18,680,273 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2023-01-01 | Yes |
| Was there a failure to transmit to the plan any participant contributions | 2023-01-01 | No |
| Has the plan failed to provide any benefit when due under the plan | 2023-01-01 | No |
| Income. Dividends from common stock | 2023-01-01 | $1 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2023-01-01 | $19,597,750 |
| Asset. Corporate debt instrument debt (other) at end of year | 2023-01-01 | $11,906,416 |
| Asset. Corporate debt instrument debt (other) at beginning of year | 2023-01-01 | $0 |
| Contract administrator fees | 2023-01-01 | $149,340 |
| Did the plan have assets held for investment | 2023-01-01 | Yes |
| Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser | 2023-01-01 | No |
| Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2023-01-01 | No |
| Aggregate proceeds on sale of assets | 2023-01-01 | $9,206,477 |
| Aggregate carrying amount (costs) on sale of assets | 2023-01-01 | $9,220,564 |
| Opinion of an independent qualified public accountant for this plan | 2023-01-01 | 1 |
| Accountancy firm name | 2023-01-01 | CHERRY BEKAERT LLP |
| Accountancy firm EIN | 2023-01-01 | 560574444 |
| 2022 : CIT GROUP, INC. RETIREMENT PLAN 2022 401k financial data | ||
| Total unrealized appreciation/depreciation of assets | 2022-12-31 | $0 |
| Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2022-12-31 | $0 |
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2022-12-31 | $150 |
| Total income from all sources (including contributions) | 2022-12-31 | $-51,581,818 |
| Total loss/gain on sale of assets | 2022-12-31 | $0 |
| Total of all expenses incurred | 2022-12-31 | $20,764,310 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2022-12-31 | $20,640,521 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2022-12-31 | $0 |
| Value of total assets at end of year | 2022-12-31 | $315,812,942 |
| Value of total assets at beginning of year | 2022-12-31 | $388,159,220 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2022-12-31 | $123,789 |
| Total interest from all sources | 2022-12-31 | $0 |
| Total dividends received (eg from common stock, registered investment company shares) | 2022-12-31 | $49,167 |
| Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2022-12-31 | No |
| Total dividends received from registered investment company shares (eg mutual funds) | 2022-12-31 | $49,167 |
| Was this plan covered by a fidelity bond | 2022-12-31 | Yes |
| Value of fidelity bond cover | 2022-12-31 | $15,000,000 |
| Were there any nonexempt tranactions with any party-in-interest | 2022-12-31 | No |
| Value of other receiveables (less allowance for doubtful accounts) at end of year | 2022-12-31 | $0 |
| Value of other receiveables (less allowance for doubtful accounts) at beginning of year | 2022-12-31 | $50 |
| Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year | 2022-12-31 | $0 |
| Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year | 2022-12-31 | $150 |
| Other income not declared elsewhere | 2022-12-31 | $12,535 |
| Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2022-12-31 | No |
| Value of net income/loss | 2022-12-31 | $-72,346,128 |
| Value of net assets at end of year (total assets less liabilities) | 2022-12-31 | $315,812,942 |
| Value of net assets at beginning of year (total assets less liabilities) | 2022-12-31 | $388,159,070 |
| Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2022-12-31 | No |
| Were any loans by the plan or fixed income obligations due to the plan in default | 2022-12-31 | No |
| Were any leases to which the plan was party in default or uncollectible | 2022-12-31 | No |
| Investment advisory and management fees | 2022-12-31 | $123,789 |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2022-12-31 | $3,536,711 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2022-12-31 | $6,745,410 |
| Value of interest in common/collective trusts at end of year | 2022-12-31 | $312,276,231 |
| Value of interest in common/collective trusts at beginning of year | 2022-12-31 | $381,413,760 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2022-12-31 | $-50,280,912 |
| Net investment gain or loss from common/collective trusts | 2022-12-31 | $-1,362,608 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2022-12-31 | Yes |
| Was there a failure to transmit to the plan any participant contributions | 2022-12-31 | No |
| Has the plan failed to provide any benefit when due under the plan | 2022-12-31 | No |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2022-12-31 | $20,640,521 |
| Did the plan have assets held for investment | 2022-12-31 | Yes |
| Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser | 2022-12-31 | No |
| Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2022-12-31 | No |
| Opinion of an independent qualified public accountant for this plan | 2022-12-31 | Unqualified |
| Accountancy firm name | 2022-12-31 | CHERRY BEKAERT |
| Accountancy firm EIN | 2022-12-31 | 560574444 |
| Total unrealized appreciation/depreciation of assets | 2022-01-01 | $0 |
| Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2022-01-01 | $0 |
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2022-01-01 | $150 |
| Total income from all sources (including contributions) | 2022-01-01 | $-51,581,818 |
| Total loss/gain on sale of assets | 2022-01-01 | $0 |
| Total of all expenses incurred | 2022-01-01 | $20,764,310 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2022-01-01 | $20,640,521 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2022-01-01 | $0 |
| Value of total assets at end of year | 2022-01-01 | $315,812,942 |
| Value of total assets at beginning of year | 2022-01-01 | $388,159,220 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2022-01-01 | $123,789 |
| Total interest from all sources | 2022-01-01 | $0 |
| Total dividends received (eg from common stock, registered investment company shares) | 2022-01-01 | $49,167 |
| Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2022-01-01 | No |
| Total dividends received from registered investment company shares (eg mutual funds) | 2022-01-01 | $49,167 |
| Was this plan covered by a fidelity bond | 2022-01-01 | Yes |
| Value of fidelity bond cover | 2022-01-01 | $15,000,000 |
| Were there any nonexempt tranactions with any party-in-interest | 2022-01-01 | No |
| Value of other receiveables (less allowance for doubtful accounts) at end of year | 2022-01-01 | $0 |
| Value of other receiveables (less allowance for doubtful accounts) at beginning of year | 2022-01-01 | $50 |
| Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year | 2022-01-01 | $0 |
| Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year | 2022-01-01 | $150 |
| Other income not declared elsewhere | 2022-01-01 | $12,535 |
| Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2022-01-01 | No |
| Value of net income/loss | 2022-01-01 | $-72,346,128 |
| Value of net assets at end of year (total assets less liabilities) | 2022-01-01 | $315,812,942 |
| Value of net assets at beginning of year (total assets less liabilities) | 2022-01-01 | $388,159,070 |
| Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2022-01-01 | No |
| Were any loans by the plan or fixed income obligations due to the plan in default | 2022-01-01 | No |
| Were any leases to which the plan was party in default or uncollectible | 2022-01-01 | No |
| Investment advisory and management fees | 2022-01-01 | $123,789 |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2022-01-01 | $3,536,711 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2022-01-01 | $6,745,410 |
| Value of interest in common/collective trusts at end of year | 2022-01-01 | $312,276,231 |
| Value of interest in common/collective trusts at beginning of year | 2022-01-01 | $381,413,760 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2022-01-01 | $-50,280,912 |
| Net investment gain or loss from common/collective trusts | 2022-01-01 | $-1,362,608 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2022-01-01 | Yes |
| Was there a failure to transmit to the plan any participant contributions | 2022-01-01 | No |
| Has the plan failed to provide any benefit when due under the plan | 2022-01-01 | No |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2022-01-01 | $20,640,521 |
| Did the plan have assets held for investment | 2022-01-01 | Yes |
| Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser | 2022-01-01 | No |
| Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2022-01-01 | No |
| Opinion of an independent qualified public accountant for this plan | 2022-01-01 | 1 |
| Accountancy firm name | 2022-01-01 | CHERRY BEKAERT |
| Accountancy firm EIN | 2022-01-01 | 560574444 |
| 2023: CIT GROUP, INC. RETIREMENT PLAN 2023 form 5500 responses | ||
|---|---|---|
| 2023-01-01 | Type of plan entity | Single employer plan |
| 2023-01-01 | Submission has been amended | No |
| 2023-01-01 | This submission is the final filing | No |
| 2023-01-01 | This return/report is a short plan year return/report (less than 12 months) | No |
| 2023-01-01 | Plan is a collectively bargained plan | No |
| 2023-01-01 | Plan funding arrangement – Trust | Yes |
| 2023-01-01 | Plan benefit arrangement - Trust | Yes |
| 2022: CIT GROUP, INC. RETIREMENT PLAN 2022 form 5500 responses | ||
| 2022-01-01 | Type of plan entity | Single employer plan |
| 2022-01-01 | Submission has been amended | No |
| 2022-01-01 | This submission is the final filing | No |
| 2022-01-01 | This return/report is a short plan year return/report (less than 12 months) | No |
| 2022-01-01 | Plan is a collectively bargained plan | No |
| 2022-01-01 | Plan funding arrangement – Trust | Yes |
| 2022-01-01 | Plan benefit arrangement - Trust | Yes |
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