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SHAR-RICH, INC. CASH BALANCE PENSION PLAN 401k Plan overview

Plan NameSHAR-RICH, INC. CASH BALANCE PENSION PLAN
Plan identification number 002

SHAR-RICH, INC. CASH BALANCE PENSION 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).

401k Sponsoring company profile

SHAR-RICH, INC has sponsored the creation of one or more 401k plans.

Company Name:SHAR-RICH, INC
Employer identification number (EIN):561804151
NAIC Classification:446110
NAIC Description:Pharmacies and Drug Stores

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SHAR-RICH, INC. CASH BALANCE PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022020-01-01RICHARD OWENSBY2021-09-15 RICHARD OWENSBY2021-09-15
0022019-01-01RICHARD OWENSBY2020-07-27
0022018-01-01RICHARD OWENSBY2019-09-26
0022017-01-01RICHARD OWENSBY2018-08-08 RICHARD OWENSBY2018-08-08
0022016-01-01RICHARD OWENSBY2017-07-19
0022015-01-01RICHARD OWENSBY2016-07-28
0022014-01-01RICHARD OWENSBY2015-07-17
0022013-01-01RICHARD OWENSBY2014-07-08
0022012-01-01RICHARD OWENSBY2013-10-01 RICHARD OWENSBY2013-10-01
0022011-01-01RICHARD OWENSBY2012-06-04 RICHARD OWENSBY2012-06-04

Plan Statistics for SHAR-RICH, INC. CASH BALANCE PENSION PLAN

401k plan membership statisitcs for SHAR-RICH, INC. CASH BALANCE PENSION PLAN

Measure Date Value
2019: SHAR-RICH, INC. CASH BALANCE PENSION PLAN 2019 401k membership
Market value of plan assets2019-12-312,627,576
Acturial value of plan assets2019-12-312,627,576
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-311
Fundng target for terminated vested participants2019-12-3110,012
Active participant vested funding target2019-12-312,669,890
Number of active participants2019-12-3113
Total funding liabilities for active participants2019-12-312,669,890
Total participant count2019-12-3114
Total funding target for all participants2019-12-312,679,902
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 contributions2019-12-311,574
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-311,574
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-310
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 contributions2019-12-31121,011
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 date2019-12-31115,427
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 cost2019-12-310
Net shortfall amortization installment of oustanding balance2019-12-3152,326
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-317,833
Additional cash requirement2019-12-317,833
Contributions allocatedtoward minimum required contributions for current year2019-12-31115,427
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: SHAR-RICH, INC. CASH BALANCE PENSION PLAN 2018 401k membership
Market value of plan assets2018-12-312,417,685
Acturial value of plan assets2018-12-312,417,685
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-311
Fundng target for terminated vested participants2018-12-319,789
Active participant vested funding target2018-12-312,464,182
Number of active participants2018-12-3114
Total funding liabilities for active participants2018-12-312,464,182
Total participant count2018-12-3115
Total funding target for all participants2018-12-312,473,971
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 contributions2018-12-3198,424
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-3198,424
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-310
Reductions in caryover balances due to elections or deemed elections2018-12-310
Reductions in prefunding balances due to elections or deemed elections2018-12-310
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-310
Total employer contributions2018-12-31215,034
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 date2018-12-31209,866
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 cost2018-12-31199,103
Net shortfall amortization installment of oustanding balance2018-12-3156,286
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31208,292
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-31208,292
Contributions allocatedtoward minimum required contributions for current year2018-12-31209,866
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: SHAR-RICH, INC. CASH BALANCE PENSION PLAN 2017 401k membership
Market value of plan assets2017-12-312,331,656
Acturial value of plan assets2017-12-312,331,656
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 target2017-12-312,212,602
Number of active participants2017-12-3116
Total funding liabilities for active participants2017-12-312,212,602
Total participant count2017-12-3116
Total funding target for all participants2017-12-312,212,602
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 contributions2017-12-3110,580
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3110,580
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 contributions2017-12-31137,824
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 date2017-12-31133,611
Liquidity shortfalls end of Q12017-12-310
Liquidity shortfalls end of Q22017-12-310
Liquidity shortfalls end of Q32017-12-310
Liquidity shortfalls end of Q42017-12-310
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 cost2017-12-31154,241
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-3135,187
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-3135,187
Contributions allocatedtoward minimum required contributions for current year2017-12-31133,611
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: SHAR-RICH, INC. CASH BALANCE PENSION PLAN 2016 401k membership
Market value of plan assets2016-12-311,699,808
Acturial value of plan assets2016-12-311,699,808
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 target2016-12-311,791,377
Number of active participants2016-12-3114
Total funding liabilities for active participants2016-12-311,791,377
Total participant count2016-12-3114
Total funding target for all participants2016-12-311,791,377
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 contributions2016-12-3155,943
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-3155,943
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 contributions2016-12-31357,640
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 date2016-12-31343,073
Liquidity shortfalls end of Q12016-12-310
Liquidity shortfalls end of Q22016-12-310
Liquidity shortfalls end of Q32016-12-310
Liquidity shortfalls end of Q42016-12-310
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 cost2016-12-31314,549
Net shortfall amortization installment of oustanding balance2016-12-3191,569
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-31332,493
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-31332,493
Contributions allocatedtoward minimum required contributions for current year2016-12-31343,073
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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