401k Plan data: MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN plan

MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN 401k Plan overview

Plan Name	MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN
Plan identification number	001

MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN Benefits

401k Plan Type

Defined Benefit Pension

Plan Features/Benefits

Benefits are primarily pay related
Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
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

MORGANTON FEDERAL SAVINGS AND LOAN has sponsored the creation of one or more 401k plans.

Company Name: MORGANTON FEDERAL SAVINGS AND LOAN

Employer identification number (EIN): 560327830

NAIC Classification: 522120
NAIC Description: Savings Institutions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
001 2023-01-01 MICHAEL AYOTTE 2024-09-25
001 2022-01-01 MICHAEL AYOTTE 2023-09-28 MICHAEL AYOTTE 2023-09-28
001 2021-01-01
001 2020-01-01
001 2019-01-01 MICHAEL AYOTTE 2020-07-23 MICHAEL AYOTTE 2020-07-23
001 2018-01-01 MICHAEL AYOTTE 2019-10-09 MICHAEL AYOTTE 2019-10-09
001 2017-01-01 MICHAEL AYOTTE 2018-07-06 MICHAEL AYOTTE 2018-07-06
001 2016-01-01 MICHAEL AYOTTE 2017-07-26 MICHAEL AYOTTE 2017-07-26
001 2015-01-01 MICHAEL AYOTTE 2016-07-29 MICHAEL AYOTTE 2016-07-29
001 2014-01-01 MICHAEL AYOTTE 2015-07-29 MICHAEL AYOTTE 2015-07-29
001 2013-01-01 MICHAEL AYOTTE 2014-06-30 MICHAEL AYOTTE 2014-06-30
001 2012-01-01 MICHAEL AYOTTE 2013-04-16 MICHAEL AYOTTE 2013-04-16
001 2011-10-01 MICHAEL AYOTTE 2012-08-27
001 2010-10-01 MICHAEL AYOTTE 2012-07-13

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed	Name of Company Sponsor	Date Sponsor Signed
001	2023-01-01	MICHAEL AYOTTE	2024-09-25
001	2022-01-01	MICHAEL AYOTTE	2023-09-28	MICHAEL AYOTTE	2023-09-28
001	2021-01-01
001	2020-01-01
001	2019-01-01	MICHAEL AYOTTE	2020-07-23	MICHAEL AYOTTE	2020-07-23
001	2018-01-01	MICHAEL AYOTTE	2019-10-09	MICHAEL AYOTTE	2019-10-09
001	2017-01-01	MICHAEL AYOTTE	2018-07-06	MICHAEL AYOTTE	2018-07-06
001	2016-01-01	MICHAEL AYOTTE	2017-07-26	MICHAEL AYOTTE	2017-07-26
001	2015-01-01	MICHAEL AYOTTE	2016-07-29	MICHAEL AYOTTE	2016-07-29
001	2014-01-01	MICHAEL AYOTTE	2015-07-29	MICHAEL AYOTTE	2015-07-29
001	2013-01-01	MICHAEL AYOTTE	2014-06-30	MICHAEL AYOTTE	2014-06-30
001	2012-01-01	MICHAEL AYOTTE	2013-04-16	MICHAEL AYOTTE	2013-04-16
001	2011-10-01	MICHAEL AYOTTE	2012-08-27
001	2010-10-01	MICHAEL AYOTTE	2012-07-13

Plan Statistics for MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN

401k plan membership statisitcs for MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN

Measure Date Value
2022: MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN 2022 401k membership
Market value of plan assets 2022-12-31 2,598,220
Acturial value of plan assets 2022-12-31 2,598,220
Funding target for retired participants and beneficiaries receiving payment 2022-12-31 0
Number of terminated vested participants 2022-12-31 1
Fundng target for terminated vested participants 2022-12-31 2,699
Active participant vested funding target 2022-12-31 1,172,894
Number of active participants 2022-12-31 8
Total funding liabilities for active participants 2022-12-31 1,212,548
Total participant count 2022-12-31 9
Total funding target for all participants 2022-12-31 1,215,247
Balance at beginning of prior year after applicable adjustments 2022-12-31 1,065,110
Prefunding balance at beginning of prior year after applicable adjustments 2022-12-31 0
Carryover balanced portion elected for use to offset prior years funding requirement 2022-12-31 0
Prefunding balanced used to offset prior years funding requirement 2022-12-31 0
Amount remaining of carryover balance 2022-12-31 1,065,110
Amount remaining of prefunding balance 2022-12-31 0
Present value of excess contributions 2022-12-31 1,028,796
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2022-12-31 1,085,688
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2022-12-31 0
Reductions in caryover balances due to elections or deemed elections 2022-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2022-12-31 0
Balance of carryovers at beginning of current year 2022-12-31 1,108,566
Balance of prefunding at beginning of current year 2022-12-31 0
Total employer contributions 2022-12-31 0
Total employee contributions 2022-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2022-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2022-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2022-12-31 0
Liquidity shortfalls end of Q1 2022-12-31 0
Liquidity shortfalls end of Q2 2022-12-31 0
Liquidity shortfalls end of Q3 2022-12-31 0
Liquidity shortfalls end of Q4 2022-12-31 0
Unpaid minimum required contributions for all prior years 2022-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2022-12-31 0
Remaining amount of unpaid minimum required contributions 2022-12-31 0
Minimum required contributions for current year target normal cost 2022-12-31 53,383
Net shortfall amortization installment of oustanding balance 2022-12-31 0
Waiver amortization installment 2022-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2022-12-31 0
Carryover balance elected to use to offset funding requirement 2022-12-31 0
Prefunding balance elected to use to offset funding requirement 2022-12-31 0
Additional cash requirement 2022-12-31 0
Contributions allocatedtoward minimum required contributions for current year 2022-12-31 0
Unpaid minimum required contributions for current year 2022-12-31 0
Unpaid minimum required contributions for all years 2022-12-31 0
2021: MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN 2021 401k membership
Market value of plan assets 2021-12-31 1,605,018
Acturial value of plan assets 2021-12-31 1,605,018
Funding target for retired participants and beneficiaries receiving payment 2021-12-31 0
Number of terminated vested participants 2021-12-31 1
Fundng target for terminated vested participants 2021-12-31 2,561
Active participant vested funding target 2021-12-31 1,156,400
Number of active participants 2021-12-31 9
Total funding liabilities for active participants 2021-12-31 1,195,311
Total participant count 2021-12-31 10
Total funding target for all participants 2021-12-31 1,197,872
Balance at beginning of prior year after applicable adjustments 2021-12-31 1,039,943
Prefunding balance at beginning of prior year after applicable adjustments 2021-12-31 0
Carryover balanced portion elected for use to offset prior years funding requirement 2021-12-31 0
Prefunding balanced used to offset prior years funding requirement 2021-12-31 0
Amount remaining of carryover balance 2021-12-31 1,039,943
Amount remaining of prefunding balance 2021-12-31 0
Present value of excess contributions 2021-12-31 0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2021-12-31 0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2021-12-31 0
Reductions in caryover balances due to elections or deemed elections 2021-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2021-12-31 0
Balance of carryovers at beginning of current year 2021-12-31 1,065,110
Balance of prefunding at beginning of current year 2021-12-31 0
Total employer contributions 2021-12-31 1,450,000
Total employee contributions 2021-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2021-12-31 152,418
Contributions made to avoid restrictions adjusted to valuation date 2021-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2021-12-31 1,173,155
Liquidity shortfalls end of Q1 2021-12-31 0
Liquidity shortfalls end of Q2 2021-12-31 0
Liquidity shortfalls end of Q3 2021-12-31 0
Liquidity shortfalls end of Q4 2021-12-31 0
Unpaid minimum required contributions for all prior years 2021-12-31 152,418
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2021-12-31 152,418
Remaining amount of unpaid minimum required contributions 2021-12-31 0
Minimum required contributions for current year target normal cost 2021-12-31 144,359
Net shortfall amortization installment of oustanding balance 2021-12-31 0
Waiver amortization installment 2021-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2021-12-31 144,359
Carryover balance elected to use to offset funding requirement 2021-12-31 0
Prefunding balance elected to use to offset funding requirement 2021-12-31 0
Additional cash requirement 2021-12-31 144,359
Contributions allocatedtoward minimum required contributions for current year 2021-12-31 1,173,155
Unpaid minimum required contributions for current year 2021-12-31 0
Unpaid minimum required contributions for all years 2021-12-31 0
2020: MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN 2020 401k membership
Market value of plan assets 2020-12-31 1,568,440
Acturial value of plan assets 2020-12-31 1,568,440
Funding target for retired participants and beneficiaries receiving payment 2020-12-31 0
Number of terminated vested participants 2020-12-31 1
Fundng target for terminated vested participants 2020-12-31 2,349
Active participant vested funding target 2020-12-31 945,455
Number of active participants 2020-12-31 9
Total funding liabilities for active participants 2020-12-31 964,852
Total participant count 2020-12-31 10
Total funding target for all participants 2020-12-31 967,201
Balance at beginning of prior year after applicable adjustments 2020-12-31 832,021
Prefunding balance at beginning of prior year after applicable adjustments 2020-12-31 0
Carryover balanced portion elected for use to offset prior years funding requirement 2020-12-31 0
Prefunding balanced used to offset prior years funding requirement 2020-12-31 0
Amount remaining of carryover balance 2020-12-31 832,021
Amount remaining of prefunding balance 2020-12-31 0
Present value of excess contributions 2020-12-31 98,198
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2020-12-31 103,560
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2020-12-31 0
Reductions in caryover balances due to elections or deemed elections 2020-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2020-12-31 0
Balance of carryovers at beginning of current year 2020-12-31 1,039,943
Balance of prefunding at beginning of current year 2020-12-31 0
Total employer contributions 2020-12-31 0
Total employee contributions 2020-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2020-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2020-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2020-12-31 0
Liquidity shortfalls end of Q1 2020-12-31 0
Liquidity shortfalls end of Q2 2020-12-31 0
Liquidity shortfalls end of Q3 2020-12-31 0
Liquidity shortfalls end of Q4 2020-12-31 0
Unpaid minimum required contributions for all prior years 2020-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2020-12-31 0
Remaining amount of unpaid minimum required contributions 2020-12-31 0
Minimum required contributions for current year target normal cost 2020-12-31 152,418
Net shortfall amortization installment of oustanding balance 2020-12-31 0
Waiver amortization installment 2020-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2020-12-31 152,418
Carryover balance elected to use to offset funding requirement 2020-12-31 0
Prefunding balance elected to use to offset funding requirement 2020-12-31 0
Additional cash requirement 2020-12-31 152,418
Contributions allocatedtoward minimum required contributions for current year 2020-12-31 0
Unpaid minimum required contributions for current year 2020-12-31 152,418
Unpaid minimum required contributions for all years 2020-12-31 152,418
2019: MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN 2019 401k membership
Market value of plan assets 2019-12-31 1,815,228
Acturial value of plan assets 2019-12-31 1,815,228
Funding target for retired participants and beneficiaries receiving payment 2019-12-31 0
Number of terminated vested participants 2019-12-31 0
Fundng target for terminated vested participants 2019-12-31 0
Active participant vested funding target 2019-12-31 1,273,068
Number of active participants 2019-12-31 10
Total funding liabilities for active participants 2019-12-31 1,296,772
Total participant count 2019-12-31 10
Total funding target for all participants 2019-12-31 1,296,772
Balance at beginning of prior year after applicable adjustments 2019-12-31 807,082
Prefunding balance at beginning of prior year after applicable adjustments 2019-12-31 0
Carryover balanced portion elected for use to offset prior years funding requirement 2019-12-31 0
Prefunding balanced used to offset prior years funding requirement 2019-12-31 0
Amount remaining of carryover balance 2019-12-31 807,082
Amount remaining of prefunding balance 2019-12-31 0
Present value of excess contributions 2019-12-31 40,817
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2019-12-31 43,139
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2019-12-31 0
Reductions in caryover balances due to elections or deemed elections 2019-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2019-12-31 0
Balance of carryovers at beginning of current year 2019-12-31 832,021
Balance of prefunding at beginning of current year 2019-12-31 0
Total employer contributions 2019-12-31 300,000
Total employee contributions 2019-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2019-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2019-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2019-12-31 268,851
Liquidity shortfalls end of Q1 2019-12-31 0
Liquidity shortfalls end of Q2 2019-12-31 0
Liquidity shortfalls end of Q3 2019-12-31 0
Liquidity shortfalls end of Q4 2019-12-31 0
Unpaid minimum required contributions for all prior years 2019-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2019-12-31 0
Remaining amount of unpaid minimum required contributions 2019-12-31 0
Minimum required contributions for current year target normal cost 2019-12-31 170,653
Net shortfall amortization installment of oustanding balance 2019-12-31 0
Waiver amortization installment 2019-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2019-12-31 170,653
Carryover balance elected to use to offset funding requirement 2019-12-31 0
Prefunding balance elected to use to offset funding requirement 2019-12-31 0
Additional cash requirement 2019-12-31 170,653
Contributions allocatedtoward minimum required contributions for current year 2019-12-31 268,851
Unpaid minimum required contributions for current year 2019-12-31 0
Unpaid minimum required contributions for all years 2019-12-31 0
2018: MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN 2018 401k membership
Market value of plan assets 2018-12-31 1,752,681
Acturial value of plan assets 2018-12-31 1,752,681
Funding target for retired participants and beneficiaries receiving payment 2018-12-31 0
Number of terminated vested participants 2018-12-31 0
Fundng target for terminated vested participants 2018-12-31 0
Active participant vested funding target 2018-12-31 1,157,245
Number of active participants 2018-12-31 10
Total funding liabilities for active participants 2018-12-31 1,169,444
Total participant count 2018-12-31 10
Total funding target for all participants 2018-12-31 1,169,444
Balance at beginning of prior year after applicable adjustments 2018-12-31 864,044
Prefunding balance at beginning of prior year after applicable adjustments 2018-12-31 0
Carryover balanced portion elected for use to offset prior years funding requirement 2018-12-31 87,107
Prefunding balanced used to offset prior years funding requirement 2018-12-31 0
Amount remaining of carryover balance 2018-12-31 776,937
Amount remaining of prefunding balance 2018-12-31 0
Present value of excess contributions 2018-12-31 0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2018-12-31 0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2018-12-31 0
Reductions in caryover balances due to elections or deemed elections 2018-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2018-12-31 0
Balance of carryovers at beginning of current year 2018-12-31 807,082
Balance of prefunding at beginning of current year 2018-12-31 0
Total employer contributions 2018-12-31 177,620
Total employee contributions 2018-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2018-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2018-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2018-12-31 160,554
Liquidity shortfalls end of Q1 2018-12-31 0
Liquidity shortfalls end of Q2 2018-12-31 0
Liquidity shortfalls end of Q3 2018-12-31 0
Liquidity shortfalls end of Q4 2018-12-31 0
Unpaid minimum required contributions for all prior years 2018-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2018-12-31 0
Remaining amount of unpaid minimum required contributions 2018-12-31 0
Minimum required contributions for current year target normal cost 2018-12-31 119,737
Net shortfall amortization installment of oustanding balance 2018-12-31 0
Waiver amortization installment 2018-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2018-12-31 119,737
Carryover balance elected to use to offset funding requirement 2018-12-31 0
Prefunding balance elected to use to offset funding requirement 2018-12-31 0
Additional cash requirement 2018-12-31 119,737
Contributions allocatedtoward minimum required contributions for current year 2018-12-31 160,554
Unpaid minimum required contributions for current year 2018-12-31 0
Unpaid minimum required contributions for all years 2018-12-31 0
2017: MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN 2017 401k membership
Market value of plan assets 2017-12-31 1,687,147
Acturial value of plan assets 2017-12-31 1,687,147
Funding target for retired participants and beneficiaries receiving payment 2017-12-31 0
Number of terminated vested participants 2017-12-31 0
Fundng target for terminated vested participants 2017-12-31 0
Active participant vested funding target 2017-12-31 928,265
Number of active participants 2017-12-31 9
Total funding liabilities for active participants 2017-12-31 932,637
Total participant count 2017-12-31 9
Total funding target for all participants 2017-12-31 932,637
Balance at beginning of prior year after applicable adjustments 2017-12-31 823,370
Prefunding balance at beginning of prior year after applicable adjustments 2017-12-31 0
Carryover balanced portion elected for use to offset prior years funding requirement 2017-12-31 0
Prefunding balanced used to offset prior years funding requirement 2017-12-31 0
Amount remaining of carryover balance 2017-12-31 823,370
Amount remaining of prefunding balance 2017-12-31 0
Present value of excess contributions 2017-12-31 0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2017-12-31 0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2017-12-31 0
Reductions in caryover balances due to elections or deemed elections 2017-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2017-12-31 0
Balance of carryovers at beginning of current year 2017-12-31 864,044
Balance of prefunding at beginning of current year 2017-12-31 0
Total employer contributions 2017-12-31 0
Total employee contributions 2017-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2017-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2017-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2017-12-31 0
Unpaid minimum required contributions for all prior years 2017-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2017-12-31 0
Remaining amount of unpaid minimum required contributions 2017-12-31 0
Minimum required contributions for current year target normal cost 2017-12-31 87,107
Net shortfall amortization installment of oustanding balance 2017-12-31 0
Waiver amortization installment 2017-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2017-12-31 87,107
Carryover balance elected to use to offset funding requirement 2017-12-31 87,107
Prefunding balance elected to use to offset funding requirement 2017-12-31 0
Additional cash requirement 2017-12-31 0
Contributions allocatedtoward minimum required contributions for current year 2017-12-31 0
Unpaid minimum required contributions for current year 2017-12-31 0
Unpaid minimum required contributions for all years 2017-12-31 0
2016: MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN 2016 401k membership
Market value of plan assets 2016-12-31 2,045,755
Acturial value of plan assets 2016-12-31 2,045,755
Funding target for retired participants and beneficiaries receiving payment 2016-12-31 0
Number of terminated vested participants 2016-12-31 1
Fundng target for terminated vested participants 2016-12-31 361,109
Active participant vested funding target 2016-12-31 769,226
Number of active participants 2016-12-31 9
Total funding liabilities for active participants 2016-12-31 772,289
Total participant count 2016-12-31 10
Total funding target for all participants 2016-12-31 1,133,398
Balance at beginning of prior year after applicable adjustments 2016-12-31 784,311
Prefunding balance at beginning of prior year after applicable adjustments 2016-12-31 0
Carryover balanced portion elected for use to offset prior years funding requirement 2016-12-31 0
Prefunding balanced used to offset prior years funding requirement 2016-12-31 0
Amount remaining of carryover balance 2016-12-31 784,311
Amount remaining of prefunding balance 2016-12-31 0
Present value of excess contributions 2016-12-31 217,015
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2016-12-31 230,448
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2016-12-31 0
Reductions in caryover balances due to elections or deemed elections 2016-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2016-12-31 0
Balance of carryovers at beginning of current year 2016-12-31 823,370
Balance of prefunding at beginning of current year 2016-12-31 0
Total employer contributions 2016-12-31 0
Total employee contributions 2016-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2016-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2016-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2016-12-31 0
Liquidity shortfalls end of Q1 2016-12-31 0
Liquidity shortfalls end of Q2 2016-12-31 0
Liquidity shortfalls end of Q3 2016-12-31 0
Liquidity shortfalls end of Q4 2016-12-31 0
Unpaid minimum required contributions for all prior years 2016-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2016-12-31 0
Remaining amount of unpaid minimum required contributions 2016-12-31 0
Minimum required contributions for current year target normal cost 2016-12-31 76,427
Net shortfall amortization installment of oustanding balance 2016-12-31 0
Waiver amortization installment 2016-12-31 0
Waived amount of outstanding balance 2016-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2016-12-31 0
Carryover balance elected to use to offset funding requirement 2016-12-31 0
Prefunding balance elected to use to offset funding requirement 2016-12-31 0
Additional cash requirement 2016-12-31 0
Contributions allocatedtoward minimum required contributions for current year 2016-12-31 0
Unpaid minimum required contributions for current year 2016-12-31 0
Unpaid minimum required contributions for all years 2016-12-31 0

Measure	Date	Value
2022: MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN 2022 401k membership
Market value of plan assets	2022-12-31	2,598,220
Acturial value of plan assets	2022-12-31	2,598,220
Funding target for retired participants and beneficiaries receiving payment	2022-12-31	0
Number of terminated vested participants	2022-12-31	1
Fundng target for terminated vested participants	2022-12-31	2,699
Active participant vested funding target	2022-12-31	1,172,894
Number of active participants	2022-12-31	8
Total funding liabilities for active participants	2022-12-31	1,212,548
Total participant count	2022-12-31	9
Total funding target for all participants	2022-12-31	1,215,247
Balance at beginning of prior year after applicable adjustments	2022-12-31	1,065,110
Prefunding balance at beginning of prior year after applicable adjustments	2022-12-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2022-12-31	0
Prefunding balanced used to offset prior years funding requirement	2022-12-31	0
Amount remaining of carryover balance	2022-12-31	1,065,110
Amount remaining of prefunding balance	2022-12-31	0
Present value of excess contributions	2022-12-31	1,028,796
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2022-12-31	1,085,688
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2022-12-31	0
Reductions in caryover balances due to elections or deemed elections	2022-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2022-12-31	0
Balance of carryovers at beginning of current year	2022-12-31	1,108,566
Balance of prefunding at beginning of current year	2022-12-31	0
Total employer contributions	2022-12-31	0
Total employee contributions	2022-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2022-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2022-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2022-12-31	0
Liquidity shortfalls end of Q1	2022-12-31	0
Liquidity shortfalls end of Q2	2022-12-31	0
Liquidity shortfalls end of Q3	2022-12-31	0
Liquidity shortfalls end of Q4	2022-12-31	0
Unpaid minimum required contributions for all prior years	2022-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2022-12-31	0
Remaining amount of unpaid minimum required contributions	2022-12-31	0
Minimum required contributions for current year target normal cost	2022-12-31	53,383
Net shortfall amortization installment of oustanding balance	2022-12-31	0
Waiver amortization installment	2022-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2022-12-31	0
Carryover balance elected to use to offset funding requirement	2022-12-31	0
Prefunding balance elected to use to offset funding requirement	2022-12-31	0
Additional cash requirement	2022-12-31	0
Contributions allocatedtoward minimum required contributions for current year	2022-12-31	0
Unpaid minimum required contributions for current year	2022-12-31	0
Unpaid minimum required contributions for all years	2022-12-31	0
2021: MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN 2021 401k membership
Market value of plan assets	2021-12-31	1,605,018
Acturial value of plan assets	2021-12-31	1,605,018
Funding target for retired participants and beneficiaries receiving payment	2021-12-31	0
Number of terminated vested participants	2021-12-31	1
Fundng target for terminated vested participants	2021-12-31	2,561
Active participant vested funding target	2021-12-31	1,156,400
Number of active participants	2021-12-31	9
Total funding liabilities for active participants	2021-12-31	1,195,311
Total participant count	2021-12-31	10
Total funding target for all participants	2021-12-31	1,197,872
Balance at beginning of prior year after applicable adjustments	2021-12-31	1,039,943
Prefunding balance at beginning of prior year after applicable adjustments	2021-12-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2021-12-31	0
Prefunding balanced used to offset prior years funding requirement	2021-12-31	0
Amount remaining of carryover balance	2021-12-31	1,039,943
Amount remaining of prefunding balance	2021-12-31	0
Present value of excess contributions	2021-12-31	0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2021-12-31	0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2021-12-31	0
Reductions in caryover balances due to elections or deemed elections	2021-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2021-12-31	0
Balance of carryovers at beginning of current year	2021-12-31	1,065,110
Balance of prefunding at beginning of current year	2021-12-31	0
Total employer contributions	2021-12-31	1,450,000
Total employee contributions	2021-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2021-12-31	152,418
Contributions made to avoid restrictions adjusted to valuation date	2021-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2021-12-31	1,173,155
Liquidity shortfalls end of Q1	2021-12-31	0
Liquidity shortfalls end of Q2	2021-12-31	0
Liquidity shortfalls end of Q3	2021-12-31	0
Liquidity shortfalls end of Q4	2021-12-31	0
Unpaid minimum required contributions for all prior years	2021-12-31	152,418
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2021-12-31	152,418
Remaining amount of unpaid minimum required contributions	2021-12-31	0
Minimum required contributions for current year target normal cost	2021-12-31	144,359
Net shortfall amortization installment of oustanding balance	2021-12-31	0
Waiver amortization installment	2021-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2021-12-31	144,359
Carryover balance elected to use to offset funding requirement	2021-12-31	0
Prefunding balance elected to use to offset funding requirement	2021-12-31	0
Additional cash requirement	2021-12-31	144,359
Contributions allocatedtoward minimum required contributions for current year	2021-12-31	1,173,155
Unpaid minimum required contributions for current year	2021-12-31	0
Unpaid minimum required contributions for all years	2021-12-31	0
2020: MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN 2020 401k membership
Market value of plan assets	2020-12-31	1,568,440
Acturial value of plan assets	2020-12-31	1,568,440
Funding target for retired participants and beneficiaries receiving payment	2020-12-31	0
Number of terminated vested participants	2020-12-31	1
Fundng target for terminated vested participants	2020-12-31	2,349
Active participant vested funding target	2020-12-31	945,455
Number of active participants	2020-12-31	9
Total funding liabilities for active participants	2020-12-31	964,852
Total participant count	2020-12-31	10
Total funding target for all participants	2020-12-31	967,201
Balance at beginning of prior year after applicable adjustments	2020-12-31	832,021
Prefunding balance at beginning of prior year after applicable adjustments	2020-12-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2020-12-31	0
Prefunding balanced used to offset prior years funding requirement	2020-12-31	0
Amount remaining of carryover balance	2020-12-31	832,021
Amount remaining of prefunding balance	2020-12-31	0
Present value of excess contributions	2020-12-31	98,198
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2020-12-31	103,560
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2020-12-31	0
Reductions in caryover balances due to elections or deemed elections	2020-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2020-12-31	0
Balance of carryovers at beginning of current year	2020-12-31	1,039,943
Balance of prefunding at beginning of current year	2020-12-31	0
Total employer contributions	2020-12-31	0
Total employee contributions	2020-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2020-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2020-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2020-12-31	0
Liquidity shortfalls end of Q1	2020-12-31	0
Liquidity shortfalls end of Q2	2020-12-31	0
Liquidity shortfalls end of Q3	2020-12-31	0
Liquidity shortfalls end of Q4	2020-12-31	0
Unpaid minimum required contributions for all prior years	2020-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2020-12-31	0
Remaining amount of unpaid minimum required contributions	2020-12-31	0
Minimum required contributions for current year target normal cost	2020-12-31	152,418
Net shortfall amortization installment of oustanding balance	2020-12-31	0
Waiver amortization installment	2020-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2020-12-31	152,418
Carryover balance elected to use to offset funding requirement	2020-12-31	0
Prefunding balance elected to use to offset funding requirement	2020-12-31	0
Additional cash requirement	2020-12-31	152,418
Contributions allocatedtoward minimum required contributions for current year	2020-12-31	0
Unpaid minimum required contributions for current year	2020-12-31	152,418
Unpaid minimum required contributions for all years	2020-12-31	152,418
2019: MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN 2019 401k membership
Market value of plan assets	2019-12-31	1,815,228
Acturial value of plan assets	2019-12-31	1,815,228
Funding target for retired participants and beneficiaries receiving payment	2019-12-31	0
Number of terminated vested participants	2019-12-31	0
Fundng target for terminated vested participants	2019-12-31	0
Active participant vested funding target	2019-12-31	1,273,068
Number of active participants	2019-12-31	10
Total funding liabilities for active participants	2019-12-31	1,296,772
Total participant count	2019-12-31	10
Total funding target for all participants	2019-12-31	1,296,772
Balance at beginning of prior year after applicable adjustments	2019-12-31	807,082
Prefunding balance at beginning of prior year after applicable adjustments	2019-12-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2019-12-31	0
Prefunding balanced used to offset prior years funding requirement	2019-12-31	0
Amount remaining of carryover balance	2019-12-31	807,082
Amount remaining of prefunding balance	2019-12-31	0
Present value of excess contributions	2019-12-31	40,817
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2019-12-31	43,139
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2019-12-31	0
Reductions in caryover balances due to elections or deemed elections	2019-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2019-12-31	0
Balance of carryovers at beginning of current year	2019-12-31	832,021
Balance of prefunding at beginning of current year	2019-12-31	0
Total employer contributions	2019-12-31	300,000
Total employee contributions	2019-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2019-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2019-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2019-12-31	268,851
Liquidity shortfalls end of Q1	2019-12-31	0
Liquidity shortfalls end of Q2	2019-12-31	0
Liquidity shortfalls end of Q3	2019-12-31	0
Liquidity shortfalls end of Q4	2019-12-31	0
Unpaid minimum required contributions for all prior years	2019-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2019-12-31	0
Remaining amount of unpaid minimum required contributions	2019-12-31	0
Minimum required contributions for current year target normal cost	2019-12-31	170,653
Net shortfall amortization installment of oustanding balance	2019-12-31	0
Waiver amortization installment	2019-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2019-12-31	170,653
Carryover balance elected to use to offset funding requirement	2019-12-31	0
Prefunding balance elected to use to offset funding requirement	2019-12-31	0
Additional cash requirement	2019-12-31	170,653
Contributions allocatedtoward minimum required contributions for current year	2019-12-31	268,851
Unpaid minimum required contributions for current year	2019-12-31	0
Unpaid minimum required contributions for all years	2019-12-31	0
2018: MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN 2018 401k membership
Market value of plan assets	2018-12-31	1,752,681
Acturial value of plan assets	2018-12-31	1,752,681
Funding target for retired participants and beneficiaries receiving payment	2018-12-31	0
Number of terminated vested participants	2018-12-31	0
Fundng target for terminated vested participants	2018-12-31	0
Active participant vested funding target	2018-12-31	1,157,245
Number of active participants	2018-12-31	10
Total funding liabilities for active participants	2018-12-31	1,169,444
Total participant count	2018-12-31	10
Total funding target for all participants	2018-12-31	1,169,444
Balance at beginning of prior year after applicable adjustments	2018-12-31	864,044
Prefunding balance at beginning of prior year after applicable adjustments	2018-12-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2018-12-31	87,107
Prefunding balanced used to offset prior years funding requirement	2018-12-31	0
Amount remaining of carryover balance	2018-12-31	776,937
Amount remaining of prefunding balance	2018-12-31	0
Present value of excess contributions	2018-12-31	0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2018-12-31	0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2018-12-31	0
Reductions in caryover balances due to elections or deemed elections	2018-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2018-12-31	0
Balance of carryovers at beginning of current year	2018-12-31	807,082
Balance of prefunding at beginning of current year	2018-12-31	0
Total employer contributions	2018-12-31	177,620
Total employee contributions	2018-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2018-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2018-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2018-12-31	160,554
Liquidity shortfalls end of Q1	2018-12-31	0
Liquidity shortfalls end of Q2	2018-12-31	0
Liquidity shortfalls end of Q3	2018-12-31	0
Liquidity shortfalls end of Q4	2018-12-31	0
Unpaid minimum required contributions for all prior years	2018-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2018-12-31	0
Remaining amount of unpaid minimum required contributions	2018-12-31	0
Minimum required contributions for current year target normal cost	2018-12-31	119,737
Net shortfall amortization installment of oustanding balance	2018-12-31	0
Waiver amortization installment	2018-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2018-12-31	119,737
Carryover balance elected to use to offset funding requirement	2018-12-31	0
Prefunding balance elected to use to offset funding requirement	2018-12-31	0
Additional cash requirement	2018-12-31	119,737
Contributions allocatedtoward minimum required contributions for current year	2018-12-31	160,554
Unpaid minimum required contributions for current year	2018-12-31	0
Unpaid minimum required contributions for all years	2018-12-31	0
2017: MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN 2017 401k membership
Market value of plan assets	2017-12-31	1,687,147
Acturial value of plan assets	2017-12-31	1,687,147
Funding target for retired participants and beneficiaries receiving payment	2017-12-31	0
Number of terminated vested participants	2017-12-31	0
Fundng target for terminated vested participants	2017-12-31	0
Active participant vested funding target	2017-12-31	928,265
Number of active participants	2017-12-31	9
Total funding liabilities for active participants	2017-12-31	932,637
Total participant count	2017-12-31	9
Total funding target for all participants	2017-12-31	932,637
Balance at beginning of prior year after applicable adjustments	2017-12-31	823,370
Prefunding balance at beginning of prior year after applicable adjustments	2017-12-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2017-12-31	0
Prefunding balanced used to offset prior years funding requirement	2017-12-31	0
Amount remaining of carryover balance	2017-12-31	823,370
Amount remaining of prefunding balance	2017-12-31	0
Present value of excess contributions	2017-12-31	0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2017-12-31	0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2017-12-31	0
Reductions in caryover balances due to elections or deemed elections	2017-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2017-12-31	0
Balance of carryovers at beginning of current year	2017-12-31	864,044
Balance of prefunding at beginning of current year	2017-12-31	0
Total employer contributions	2017-12-31	0
Total employee contributions	2017-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2017-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2017-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2017-12-31	0
Unpaid minimum required contributions for all prior years	2017-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2017-12-31	0
Remaining amount of unpaid minimum required contributions	2017-12-31	0
Minimum required contributions for current year target normal cost	2017-12-31	87,107
Net shortfall amortization installment of oustanding balance	2017-12-31	0
Waiver amortization installment	2017-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2017-12-31	87,107
Carryover balance elected to use to offset funding requirement	2017-12-31	87,107
Prefunding balance elected to use to offset funding requirement	2017-12-31	0
Additional cash requirement	2017-12-31	0
Contributions allocatedtoward minimum required contributions for current year	2017-12-31	0
Unpaid minimum required contributions for current year	2017-12-31	0
Unpaid minimum required contributions for all years	2017-12-31	0
2016: MORGANTON FEDERAL SAVINGS AND LOAN ASSOCIATION PENSION PLAN 2016 401k membership
Market value of plan assets	2016-12-31	2,045,755
Acturial value of plan assets	2016-12-31	2,045,755
Funding target for retired participants and beneficiaries receiving payment	2016-12-31	0
Number of terminated vested participants	2016-12-31	1
Fundng target for terminated vested participants	2016-12-31	361,109
Active participant vested funding target	2016-12-31	769,226
Number of active participants	2016-12-31	9
Total funding liabilities for active participants	2016-12-31	772,289
Total participant count	2016-12-31	10
Total funding target for all participants	2016-12-31	1,133,398
Balance at beginning of prior year after applicable adjustments	2016-12-31	784,311
Prefunding balance at beginning of prior year after applicable adjustments	2016-12-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2016-12-31	0
Prefunding balanced used to offset prior years funding requirement	2016-12-31	0
Amount remaining of carryover balance	2016-12-31	784,311
Amount remaining of prefunding balance	2016-12-31	0
Present value of excess contributions	2016-12-31	217,015
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2016-12-31	230,448
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2016-12-31	0
Reductions in caryover balances due to elections or deemed elections	2016-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2016-12-31	0
Balance of carryovers at beginning of current year	2016-12-31	823,370
Balance of prefunding at beginning of current year	2016-12-31	0
Total employer contributions	2016-12-31	0
Total employee contributions	2016-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2016-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2016-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2016-12-31	0
Liquidity shortfalls end of Q1	2016-12-31	0
Liquidity shortfalls end of Q2	2016-12-31	0
Liquidity shortfalls end of Q3	2016-12-31	0
Liquidity shortfalls end of Q4	2016-12-31	0
Unpaid minimum required contributions for all prior years	2016-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2016-12-31	0
Remaining amount of unpaid minimum required contributions	2016-12-31	0
Minimum required contributions for current year target normal cost	2016-12-31	76,427
Net shortfall amortization installment of oustanding balance	2016-12-31	0
Waiver amortization installment	2016-12-31	0
Waived amount of outstanding balance	2016-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2016-12-31	0
Carryover balance elected to use to offset funding requirement	2016-12-31	0
Prefunding balance elected to use to offset funding requirement	2016-12-31	0
Additional cash requirement	2016-12-31	0
Contributions allocatedtoward minimum required contributions for current year	2016-12-31	0
Unpaid minimum required contributions for current year	2016-12-31	0
Unpaid minimum required contributions for all years	2016-12-31	0

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Company Name:	MORGANTON FEDERAL SAVINGS AND LOAN
Employer identification number (EIN):	560327830
NAIC Classification:	522120
NAIC Description:	Savings Institutions