401k Plan data: THE HARBIN AGENCY, INC. CASH BALANCE PLAN plan

THE HARBIN AGENCY, INC. CASH BALANCE PLAN 401k Plan overview

Plan Name	THE HARBIN AGENCY, INC. CASH BALANCE PLAN
Plan identification number	002

THE HARBIN AGENCY, INC. CASH BALANCE PLAN Benefits

401k Plan Type

Defined 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

THE HARBIN AGENCY, INC. has sponsored the creation of one or more 401k plans.

Company Name: THE HARBIN AGENCY, INC.

Employer identification number (EIN): 580946149

NAIC Classification: 524210
NAIC Description: Insurance Agencies and Brokerages

Additional information about THE HARBIN AGENCY, INC.

Jurisdiction of Incorporation: Texas Secretary of State

Incorporation Date: 2010-09-03

Company Identification Number: 0801314461

Legal Registered Office Address: PO BOX 1130

TYRONE
United States of America (USA)
30290

More information about THE HARBIN AGENCY, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE HARBIN AGENCY, INC. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
002 2023-01-01 MAURICE H. HARBIN JR. 2024-07-24 MAURICE H. HARBIN JR. 2024-07-24
002 2022-01-01 MAURICE H HARBIN 2023-07-07 MAURICE H HARBIN 2023-07-07
002 2021-01-01 MAURICE HARBIN 2022-09-09 MAURICE HARBIN 2022-09-09
002 2020-01-01 MAURICE H HARBIN 2021-10-14 MAURICE H HARBIN 2021-10-14

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed	Name of Company Sponsor	Date Sponsor Signed
002	2023-01-01	MAURICE H. HARBIN JR.	2024-07-24	MAURICE H. HARBIN JR.	2024-07-24
002	2022-01-01	MAURICE H HARBIN	2023-07-07	MAURICE H HARBIN	2023-07-07
002	2021-01-01	MAURICE HARBIN	2022-09-09	MAURICE HARBIN	2022-09-09
002	2020-01-01	MAURICE H HARBIN	2021-10-14	MAURICE H HARBIN	2021-10-14

Plan Statistics for THE HARBIN AGENCY, INC. CASH BALANCE PLAN

401k plan membership statisitcs for THE HARBIN AGENCY, INC. CASH BALANCE PLAN

Measure Date Value
2022: THE HARBIN AGENCY, INC. CASH BALANCE PLAN 2022 401k membership
Market value of plan assets 2022-12-31 846,985
Acturial value of plan assets 2022-12-31 846,985
Funding target for retired participants and beneficiaries receiving payment 2022-12-31 0
Number of terminated vested participants 2022-12-31 2
Fundng target for terminated vested participants 2022-12-31 8,178
Active participant vested funding target 2022-12-31 702,560
Number of active participants 2022-12-31 18
Total funding liabilities for active participants 2022-12-31 702,560
Total participant count 2022-12-31 20
Total funding target for all participants 2022-12-31 710,738
Balance at beginning of prior year after applicable adjustments 2022-12-31 0
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 0
Amount remaining of prefunding balance 2022-12-31 0
Present value of excess contributions 2022-12-31 177,929
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2022-12-31 177,929
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 0
Balance of prefunding at beginning of current year 2022-12-31 0
Total employer contributions 2022-12-31 687,765
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 2022-12-31 672,163
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 2022-12-31 353,140
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 2022-12-31 216,893
Additional cash requirement 2022-12-31 216,893
Contributions allocatedtoward minimum required contributions for current year 2022-12-31 672,163
Unpaid minimum required contributions for current year 2022-12-31 0
Unpaid minimum required contributions for all years 2022-12-31 0
2021: THE HARBIN AGENCY, INC. CASH BALANCE PLAN 2021 401k membership
Market value of plan assets 2021-12-31 415,579
Acturial value of plan assets 2021-12-31 415,579
Funding target for retired participants and beneficiaries receiving payment 2021-12-31 0
Number of terminated vested participants 2021-12-31 0
Fundng target for terminated vested participants 2021-12-31 0
Active participant vested funding target 2021-12-31 348,996
Number of active participants 2021-12-31 18
Total funding liabilities for active participants 2021-12-31 348,996
Total participant count 2021-12-31 18
Total funding target for all participants 2021-12-31 348,996
Balance at beginning of prior year after applicable adjustments 2021-12-31 0
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 0
Amount remaining of prefunding balance 2021-12-31 0
Present value of excess contributions 2021-12-31 52,921
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2021-12-31 52,921
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 0
Balance of prefunding at beginning of current year 2021-12-31 0
Total employer contributions 2021-12-31 480,990
Total employee contributions 2021-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2021-12-31 0
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 2021-12-31 470,388
Unpaid minimum required contributions for all prior years 2021-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2021-12-31 0
Remaining amount of unpaid minimum required contributions 2021-12-31 0
Minimum required contributions for current year target normal cost 2021-12-31 359,042
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 2021-12-31 292,459
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 2021-12-31 292,459
Contributions allocatedtoward minimum required contributions for current year 2021-12-31 470,388
Unpaid minimum required contributions for current year 2021-12-31 0
Unpaid minimum required contributions for all years 2021-12-31 0
2020: THE HARBIN AGENCY, INC. CASH BALANCE PLAN 2020 401k membership
Market value of plan assets 2020-12-31 0
Acturial value of plan assets 2020-12-31 0
Funding target for retired participants and beneficiaries receiving payment 2020-12-31 0
Number of terminated vested participants 2020-12-31 0
Fundng target for terminated vested participants 2020-12-31 0
Active participant vested funding target 2020-12-31 0
Number of active participants 2020-12-31 14
Total funding liabilities for active participants 2020-12-31 0
Total participant count 2020-12-31 14
Total funding target for all participants 2020-12-31 0
Balance at beginning of prior year after applicable adjustments 2020-12-31 0
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 0
Amount remaining of prefunding balance 2020-12-31 0
Present value of excess contributions 2020-12-31 0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2020-12-31 0
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 0
Balance of prefunding at beginning of current year 2020-12-31 0
Total employer contributions 2020-12-31 393,279
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 2020-12-31 384,532
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 2020-12-31 331,611
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 2020-12-31 331,611
Additional cash requirement 2020-12-31 331,611
Contributions allocatedtoward minimum required contributions for current year 2020-12-31 384,532
Unpaid minimum required contributions for current year 2020-12-31 0
Unpaid minimum required contributions for all years 2020-12-31 0

Measure	Date	Value
2022: THE HARBIN AGENCY, INC. CASH BALANCE PLAN 2022 401k membership
Market value of plan assets	2022-12-31	846,985
Acturial value of plan assets	2022-12-31	846,985
Funding target for retired participants and beneficiaries receiving payment	2022-12-31	0
Number of terminated vested participants	2022-12-31	2
Fundng target for terminated vested participants	2022-12-31	8,178
Active participant vested funding target	2022-12-31	702,560
Number of active participants	2022-12-31	18
Total funding liabilities for active participants	2022-12-31	702,560
Total participant count	2022-12-31	20
Total funding target for all participants	2022-12-31	710,738
Balance at beginning of prior year after applicable adjustments	2022-12-31	0
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	0
Amount remaining of prefunding balance	2022-12-31	0
Present value of excess contributions	2022-12-31	177,929
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2022-12-31	177,929
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	0
Balance of prefunding at beginning of current year	2022-12-31	0
Total employer contributions	2022-12-31	687,765
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	672,163
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	353,140
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	216,893
Additional cash requirement	2022-12-31	216,893
Contributions allocatedtoward minimum required contributions for current year	2022-12-31	672,163
Unpaid minimum required contributions for current year	2022-12-31	0
Unpaid minimum required contributions for all years	2022-12-31	0
2021: THE HARBIN AGENCY, INC. CASH BALANCE PLAN 2021 401k membership
Market value of plan assets	2021-12-31	415,579
Acturial value of plan assets	2021-12-31	415,579
Funding target for retired participants and beneficiaries receiving payment	2021-12-31	0
Number of terminated vested participants	2021-12-31	0
Fundng target for terminated vested participants	2021-12-31	0
Active participant vested funding target	2021-12-31	348,996
Number of active participants	2021-12-31	18
Total funding liabilities for active participants	2021-12-31	348,996
Total participant count	2021-12-31	18
Total funding target for all participants	2021-12-31	348,996
Balance at beginning of prior year after applicable adjustments	2021-12-31	0
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	0
Amount remaining of prefunding balance	2021-12-31	0
Present value of excess contributions	2021-12-31	52,921
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2021-12-31	52,921
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	0
Balance of prefunding at beginning of current year	2021-12-31	0
Total employer contributions	2021-12-31	480,990
Total employee contributions	2021-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2021-12-31	0
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	470,388
Unpaid minimum required contributions for all prior years	2021-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2021-12-31	0
Remaining amount of unpaid minimum required contributions	2021-12-31	0
Minimum required contributions for current year target normal cost	2021-12-31	359,042
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	292,459
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	292,459
Contributions allocatedtoward minimum required contributions for current year	2021-12-31	470,388
Unpaid minimum required contributions for current year	2021-12-31	0
Unpaid minimum required contributions for all years	2021-12-31	0
2020: THE HARBIN AGENCY, INC. CASH BALANCE PLAN 2020 401k membership
Market value of plan assets	2020-12-31	0
Acturial value of plan assets	2020-12-31	0
Funding target for retired participants and beneficiaries receiving payment	2020-12-31	0
Number of terminated vested participants	2020-12-31	0
Fundng target for terminated vested participants	2020-12-31	0
Active participant vested funding target	2020-12-31	0
Number of active participants	2020-12-31	14
Total funding liabilities for active participants	2020-12-31	0
Total participant count	2020-12-31	14
Total funding target for all participants	2020-12-31	0
Balance at beginning of prior year after applicable adjustments	2020-12-31	0
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	0
Amount remaining of prefunding balance	2020-12-31	0
Present value of excess contributions	2020-12-31	0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2020-12-31	0
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	0
Balance of prefunding at beginning of current year	2020-12-31	0
Total employer contributions	2020-12-31	393,279
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	384,532
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	331,611
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	331,611
Additional cash requirement	2020-12-31	331,611
Contributions allocatedtoward minimum required contributions for current year	2020-12-31	384,532
Unpaid minimum required contributions for current year	2020-12-31	0
Unpaid minimum required contributions for all years	2020-12-31	0

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Company Name:	THE HARBIN AGENCY, INC.
Employer identification number (EIN):	580946149
NAIC Classification:	524210
NAIC Description:	Insurance Agencies and Brokerages

Jurisdiction of Incorporation:	Texas Secretary of State
Incorporation Date:	2010-09-03
Company Identification Number:	0801314461
Legal Registered Office Address:	PO BOX 1130 TYRONE United States of America (USA) 30290