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PROVIDENCE HOMES CASH BALANCE PLAN 401k Plan overview

Plan NamePROVIDENCE HOMES CASH BALANCE PLAN
Plan identification number 002

PROVIDENCE HOMES CASH BALANCE 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).
  • 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

PROVIDENCE CONSTRUCTION COMPANY has sponsored the creation of one or more 401k plans.

Company Name:PROVIDENCE CONSTRUCTION COMPANY
Employer identification number (EIN):593119549
NAIC Classification:236110

Additional information about PROVIDENCE CONSTRUCTION COMPANY

Jurisdiction of Incorporation: Florida Department of State Division of Corporations
Incorporation Date: 1992-04-28
Company Identification Number: V32076
Legal Registered Office Address: 4901 Belfort Road

Jacksonville

32256

More information about PROVIDENCE CONSTRUCTION COMPANY

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PROVIDENCE HOMES CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01KEVIN CHEEZUM2023-07-24
0022021-01-01KEVIN CHEEZUM2022-10-10
0022020-01-01WILLIAM CELLAR2021-08-26
0022019-01-01WILLIAM CELLAR2020-10-14
0022018-01-01WILLIAM CELLAR2019-10-15
0022017-01-01WILLIAM CELLAR2018-09-28
0022016-01-01WILLIAM CELLAR2017-10-13
0022015-01-01WILLIAM CELLAR2016-09-30
0022014-01-01WILLIAM CELLAR2015-09-30 WILLIAM CELLAR2015-09-30

Plan Statistics for PROVIDENCE HOMES CASH BALANCE PLAN

401k plan membership statisitcs for PROVIDENCE HOMES CASH BALANCE PLAN

Measure Date Value
2022: PROVIDENCE HOMES CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-311,777,353
Acturial value of plan assets2022-12-311,777,353
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-312
Fundng target for terminated vested participants2022-12-316,114
Active participant vested funding target2022-12-311,956,411
Number of active participants2022-12-3111
Total funding liabilities for active participants2022-12-311,956,973
Total participant count2022-12-3113
Total funding target for all participants2022-12-311,963,087
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2022-12-310
Prefunding balanced used to offset prior years funding requirement2022-12-310
Amount remaining of carryover balance2022-12-310
Amount remaining of prefunding balance2022-12-310
Present value of excess contributions2022-12-31182,590
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31192,085
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-310
Reductions in caryover balances due to elections or deemed elections2022-12-310
Reductions in prefunding balances due to elections or deemed elections2022-12-310
Balance of carryovers at beginning of current year2022-12-310
Balance of prefunding at beginning of current year2022-12-310
Total employer contributions2022-12-31245,000
Total employee contributions2022-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2022-12-310
Contributions made to avoid restrictions adjusted to valuation date2022-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-12-31242,652
Unpaid minimum required contributions for all prior years2022-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-12-310
Remaining amount of unpaid minimum required contributions2022-12-310
Minimum required contributions for current year target normal cost2022-12-31221,392
Net shortfall amortization installment of oustanding balance2022-12-31185,754
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-31238,556
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-31238,556
Contributions allocatedtoward minimum required contributions for current year2022-12-31242,652
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: PROVIDENCE HOMES CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-311,834,921
Acturial value of plan assets2021-12-311,834,921
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-311
Fundng target for terminated vested participants2021-12-311,692
Active participant vested funding target2021-12-311,650,204
Number of active participants2021-12-3112
Total funding liabilities for active participants2021-12-311,650,204
Total participant count2021-12-3113
Total funding target for all participants2021-12-311,651,896
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2021-12-310
Prefunding balanced used to offset prior years funding requirement2021-12-310
Amount remaining of carryover balance2021-12-310
Amount remaining of prefunding balance2021-12-310
Present value of excess contributions2021-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-310
Reductions in caryover balances due to elections or deemed elections2021-12-310
Reductions in prefunding balances due to elections or deemed elections2021-12-310
Balance of carryovers at beginning of current year2021-12-310
Balance of prefunding at beginning of current year2021-12-310
Total employer contributions2021-12-31220,021
Total employee contributions2021-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2021-12-310
Contributions made to avoid restrictions adjusted to valuation date2021-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-12-31217,041
Unpaid minimum required contributions for all prior years2021-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-12-310
Remaining amount of unpaid minimum required contributions2021-12-310
Minimum required contributions for current year target normal cost2021-12-31217,476
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-3134,451
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-3134,451
Contributions allocatedtoward minimum required contributions for current year2021-12-31217,041
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: PROVIDENCE HOMES CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-311,487,617
Acturial value of plan assets2020-12-311,487,617
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-311
Fundng target for terminated vested participants2020-12-311,439
Active participant vested funding target2020-12-311,387,142
Number of active participants2020-12-3111
Total funding liabilities for active participants2020-12-311,387,850
Total participant count2020-12-3112
Total funding target for all participants2020-12-311,389,289
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2020-12-310
Prefunding balanced used to offset prior years funding requirement2020-12-310
Amount remaining of carryover balance2020-12-310
Amount remaining of prefunding balance2020-12-310
Present value of excess contributions2020-12-313,299
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-313,457
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-310
Reductions in caryover balances due to elections or deemed elections2020-12-310
Reductions in prefunding balances due to elections or deemed elections2020-12-310
Balance of carryovers at beginning of current year2020-12-310
Balance of prefunding at beginning of current year2020-12-310
Total employer contributions2020-12-31132,271
Total employee contributions2020-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2020-12-310
Contributions made to avoid restrictions adjusted to valuation date2020-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-12-31128,549
Liquidity shortfalls end of Q12020-12-310
Liquidity shortfalls end of Q22020-12-310
Liquidity shortfalls end of Q32020-12-310
Liquidity shortfalls end of Q42020-12-310
Unpaid minimum required contributions for all prior years2020-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-12-310
Remaining amount of unpaid minimum required contributions2020-12-310
Minimum required contributions for current year target normal cost2020-12-31226,240
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-31127,912
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-31127,912
Contributions allocatedtoward minimum required contributions for current year2020-12-31128,549
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: PROVIDENCE HOMES CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-311,114,903
Acturial value of plan assets2019-12-311,114,903
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-313
Fundng target for terminated vested participants2019-12-316,292
Active participant vested funding target2019-12-311,147,678
Number of active participants2019-12-3112
Total funding liabilities for active participants2019-12-311,147,678
Total participant count2019-12-3115
Total funding target for all participants2019-12-311,153,970
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 contributions2019-12-311,604
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-311,681
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 contributions2019-12-31259,503
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 date2019-12-31245,447
Liquidity shortfalls end of Q12019-12-310
Liquidity shortfalls end of Q22019-12-310
Liquidity shortfalls end of Q32019-12-310
Liquidity shortfalls end of Q42019-12-310
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 cost2019-12-31233,069
Net shortfall amortization installment of oustanding balance2019-12-3139,067
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31242,148
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-31242,148
Contributions allocatedtoward minimum required contributions for current year2019-12-31245,447
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: PROVIDENCE HOMES CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-31763,289
Acturial value of plan assets2018-12-31763,289
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-314
Fundng target for terminated vested participants2018-12-315,781
Active participant vested funding target2018-12-31897,739
Number of active participants2018-12-3110
Total funding liabilities for active participants2018-12-31898,284
Total participant count2018-12-3114
Total funding target for all participants2018-12-31904,065
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 contributions2018-12-3138,258
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-3140,477
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 contributions2018-12-31234,388
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 date2018-12-31228,683
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 cost2018-12-31204,097
Net shortfall amortization installment of oustanding balance2018-12-31140,776
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31227,079
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-31227,079
Contributions allocatedtoward minimum required contributions for current year2018-12-31228,683
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: PROVIDENCE HOMES CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-12-31626,389
Acturial value of plan assets2017-12-31626,389
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-313
Fundng target for terminated vested participants2017-12-313,985
Active participant vested funding target2017-12-31586,463
Number of active participants2017-12-3110
Total funding liabilities for active participants2017-12-31586,463
Total participant count2017-12-3113
Total funding target for all participants2017-12-31590,448
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 contributions2017-12-3136,512
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3136,512
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 contributions2017-12-31189,406
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 date2017-12-31183,192
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 cost2017-12-31180,875
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31144,934
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-31144,934
Contributions allocatedtoward minimum required contributions for current year2017-12-31183,192
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: PROVIDENCE HOMES CASH BALANCE PLAN 2016 401k membership
Market value of plan assets2016-12-31402,918
Acturial value of plan assets2016-12-31402,918
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-313
Fundng target for terminated vested participants2016-12-312,596
Active participant vested funding target2016-12-31360,700
Number of active participants2016-12-318
Total funding liabilities for active participants2016-12-31360,700
Total participant count2016-12-3111
Total funding target for all participants2016-12-31363,296
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 contributions2016-12-3136,738
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-3136,738
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 contributions2016-12-31179,172
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 date2016-12-31173,444
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 cost2016-12-31176,554
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-31136,932
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-31136,932
Contributions allocatedtoward minimum required contributions for current year2016-12-31173,444
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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