401k Plan data: INVESTMENT PROPERTIES CORPORATION OF NAPLES CASH BALANCE PLAN plan

INVESTMENT PROPERTIES CORPORATION OF NAPLES CASH BALANCE PLAN 401k Plan overview

Plan Name	INVESTMENT PROPERTIES CORPORATION OF NAPLES CASH BALANCE PLAN
Plan identification number	002

INVESTMENT PROPERTIES CORPORATION OF NAPLES CASH BALANCE PLAN Benefits

401k Plan Type

Defined Benefit Pension

Plan Features/Benefits

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).
Plan covered by PBGC that was terminated and closed out for PBGC purposes - Before the end of the plan year (or a prior plan year), (1) the plan terminated in a standard (or distress) termination and completed the distribution of plan assets in satisfaction of all benefit liabilities (or all ERISA Title IV benefits for distress termination); or (2) a trustee was appointed for a terminated plan pursuant to ERISA section 4042.
Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).

401k Sponsoring company profile

INVESTMENT PROPERTIES CORPORATION OF NAPLES has sponsored the creation of one or more 401k plans.

Company Name: INVESTMENT PROPERTIES CORPORATION OF NAPLES

Employer identification number (EIN): 650798632

NAIC Classification: 531210
NAIC Description: Offices of Real Estate Agents and Brokers

Additional information about INVESTMENT PROPERTIES CORPORATION OF NAPLES

Jurisdiction of Incorporation: Florida Department of State Division of Corporations

Incorporation Date: 1997-12-15

Company Identification Number: P97000105219

Legal Registered Office Address: CONROY, CONROY & DURANT, PA

NAPLES

34109

More information about INVESTMENT PROPERTIES CORPORATION OF NAPLES

Form 5500 Filing Information

Submission information for form 5500 for 401k plan INVESTMENT PROPERTIES CORPORATION OF NAPLES CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
002 2020-01-01 CLINTON SHERWOOD 2021-06-18
002 2019-01-01 CLINTON SHERWOOD 2020-07-22
002 2018-01-01 WILLIAM GONNERING 2019-09-27

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed
002	2020-01-01	CLINTON SHERWOOD	2021-06-18
002	2019-01-01	CLINTON SHERWOOD	2020-07-22
002	2018-01-01	WILLIAM GONNERING	2019-09-27

Plan Statistics for INVESTMENT PROPERTIES CORPORATION OF NAPLES CASH BALANCE PLAN

401k plan membership statisitcs for INVESTMENT PROPERTIES CORPORATION OF NAPLES CASH BALANCE PLAN

Measure Date Value
2020: INVESTMENT PROPERTIES CORPORATION OF NAPLES CASH BALANCE PLAN 2020 401k membership
Market value of plan assets 2020-12-15 547,334
Acturial value of plan assets 2020-12-15 547,334
Funding target for retired participants and beneficiaries receiving payment 2020-12-15 276,999
Number of terminated vested participants 2020-12-15 1
Fundng target for terminated vested participants 2020-12-15 286,377
Active participant vested funding target 2020-12-15 7,469
Number of active participants 2020-12-15 3
Total funding liabilities for active participants 2020-12-15 7,469
Total participant count 2020-12-15 5
Total funding target for all participants 2020-12-15 570,845
Balance at beginning of prior year after applicable adjustments 2020-12-15 0
Prefunding balance at beginning of prior year after applicable adjustments 2020-12-15 0
Carryover balanced portion elected for use to offset prior years funding requirement 2020-12-15 0
Prefunding balanced used to offset prior years funding requirement 2020-12-15 0
Amount remaining of carryover balance 2020-12-15 0
Amount remaining of prefunding balance 2020-12-15 0
Present value of excess contributions 2020-12-15 26
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2020-12-15 26
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2020-12-15 0
Reductions in caryover balances due to elections or deemed elections 2020-12-15 0
Reductions in prefunding balances due to elections or deemed elections 2020-12-15 0
Balance of carryovers at beginning of current year 2020-12-15 0
Balance of prefunding at beginning of current year 2020-12-15 0
Total employer contributions 2020-12-15 12,697
Total employee contributions 2020-12-15 0
Contributions allocated toward unpaid minimum require contributions from prior years 2020-12-15 0
Contributions made to avoid restrictions adjusted to valuation date 2020-12-15 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2020-12-15 12,575
Liquidity shortfalls end of Q1 2020-12-15 0
Liquidity shortfalls end of Q2 2020-12-15 0
Liquidity shortfalls end of Q3 2020-12-15 0
Liquidity shortfalls end of Q4 2020-12-15 0
Unpaid minimum required contributions for all prior years 2020-12-15 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2020-12-15 0
Remaining amount of unpaid minimum required contributions 2020-12-15 0
Minimum required contributions for current year target normal cost 2020-12-15 0
Net shortfall amortization installment of oustanding balance 2020-12-15 23,511
Waiver amortization installment 2020-12-15 0
Total funding amount beforereflecting carryover/prefunding balances 2020-12-15 3,780
Carryover balance elected to use to offset funding requirement 2020-12-15 0
Prefunding balance elected to use to offset funding requirement 2020-12-15 0
Additional cash requirement 2020-12-15 3,780
Contributions allocatedtoward minimum required contributions for current year 2020-12-15 12,575
Unpaid minimum required contributions for current year 2020-12-15 0
Unpaid minimum required contributions for all years 2020-12-15 0
2019: INVESTMENT PROPERTIES CORPORATION OF NAPLES CASH BALANCE PLAN 2019 401k membership
Market value of plan assets 2019-12-31 539,388
Acturial value of plan assets 2019-12-31 539,388
Funding target for retired participants and beneficiaries receiving payment 2019-12-31 287,395
Number of terminated vested participants 2019-12-31 1
Fundng target for terminated vested participants 2019-12-31 271,645
Active participant vested funding target 2019-12-31 10,571
Number of active participants 2019-12-31 4
Total funding liabilities for active participants 2019-12-31 10,571
Total participant count 2019-12-31 6
Total funding target for all participants 2019-12-31 569,611
Balance at beginning of prior year after applicable adjustments 2019-12-31 0
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 0
Amount remaining of prefunding balance 2019-12-31 0
Present value of excess contributions 2019-12-31 1,266
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2019-12-31 1,266
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 0
Balance of prefunding at beginning of current year 2019-12-31 0
Total employer contributions 2019-12-31 5,580
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 5,427
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 0
Net shortfall amortization installment of oustanding balance 2019-12-31 30,223
Waiver amortization installment 2019-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2019-12-31 5,401
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 5,401
Contributions allocatedtoward minimum required contributions for current year 2019-12-31 5,427
Unpaid minimum required contributions for current year 2019-12-31 0
Unpaid minimum required contributions for all years 2019-12-31 0
2018: INVESTMENT PROPERTIES CORPORATION OF NAPLES CASH BALANCE PLAN 2018 401k membership
Market value of plan assets 2018-12-31 250,884
Acturial value of plan assets 2018-12-31 250,884
Funding target for retired participants and beneficiaries receiving payment 2018-12-31 0
Number of terminated vested participants 2018-12-31 2
Fundng target for terminated vested participants 2018-12-31 271,545
Active participant vested funding target 2018-12-31 4,625
Number of active participants 2018-12-31 4
Total funding liabilities for active participants 2018-12-31 4,625
Total participant count 2018-12-31 6
Total funding target for all participants 2018-12-31 276,170
Balance at beginning of prior year after applicable adjustments 2018-12-31 0
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 0
Prefunding balanced used to offset prior years funding requirement 2018-12-31 0
Amount remaining of carryover balance 2018-12-31 0
Amount remaining of prefunding balance 2018-12-31 0
Present value of excess contributions 2018-12-31 2,702
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2018-12-31 2,702
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 0
Balance of prefunding at beginning of current year 2018-12-31 0
Total employer contributions 2018-12-31 271,240
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 2018-12-31 269,201
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 2018-12-31 263,807
Net shortfall amortization installment of oustanding balance 2018-12-31 25,286
Waiver amortization installment 2018-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2018-12-31 267,935
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 2018-12-31 267,935
Contributions allocatedtoward minimum required contributions for current year 2018-12-31 269,201
Unpaid minimum required contributions for current year 2018-12-31 0
Unpaid minimum required contributions for all years 2018-12-31 0

Measure	Date	Value
2020: INVESTMENT PROPERTIES CORPORATION OF NAPLES CASH BALANCE PLAN 2020 401k membership
Market value of plan assets	2020-12-15	547,334
Acturial value of plan assets	2020-12-15	547,334
Funding target for retired participants and beneficiaries receiving payment	2020-12-15	276,999
Number of terminated vested participants	2020-12-15	1
Fundng target for terminated vested participants	2020-12-15	286,377
Active participant vested funding target	2020-12-15	7,469
Number of active participants	2020-12-15	3
Total funding liabilities for active participants	2020-12-15	7,469
Total participant count	2020-12-15	5
Total funding target for all participants	2020-12-15	570,845
Balance at beginning of prior year after applicable adjustments	2020-12-15	0
Prefunding balance at beginning of prior year after applicable adjustments	2020-12-15	0
Carryover balanced portion elected for use to offset prior years funding requirement	2020-12-15	0
Prefunding balanced used to offset prior years funding requirement	2020-12-15	0
Amount remaining of carryover balance	2020-12-15	0
Amount remaining of prefunding balance	2020-12-15	0
Present value of excess contributions	2020-12-15	26
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2020-12-15	26
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2020-12-15	0
Reductions in caryover balances due to elections or deemed elections	2020-12-15	0
Reductions in prefunding balances due to elections or deemed elections	2020-12-15	0
Balance of carryovers at beginning of current year	2020-12-15	0
Balance of prefunding at beginning of current year	2020-12-15	0
Total employer contributions	2020-12-15	12,697
Total employee contributions	2020-12-15	0
Contributions allocated toward unpaid minimum require contributions from prior years	2020-12-15	0
Contributions made to avoid restrictions adjusted to valuation date	2020-12-15	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2020-12-15	12,575
Liquidity shortfalls end of Q1	2020-12-15	0
Liquidity shortfalls end of Q2	2020-12-15	0
Liquidity shortfalls end of Q3	2020-12-15	0
Liquidity shortfalls end of Q4	2020-12-15	0
Unpaid minimum required contributions for all prior years	2020-12-15	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2020-12-15	0
Remaining amount of unpaid minimum required contributions	2020-12-15	0
Minimum required contributions for current year target normal cost	2020-12-15	0
Net shortfall amortization installment of oustanding balance	2020-12-15	23,511
Waiver amortization installment	2020-12-15	0
Total funding amount beforereflecting carryover/prefunding balances	2020-12-15	3,780
Carryover balance elected to use to offset funding requirement	2020-12-15	0
Prefunding balance elected to use to offset funding requirement	2020-12-15	0
Additional cash requirement	2020-12-15	3,780
Contributions allocatedtoward minimum required contributions for current year	2020-12-15	12,575
Unpaid minimum required contributions for current year	2020-12-15	0
Unpaid minimum required contributions for all years	2020-12-15	0
2019: INVESTMENT PROPERTIES CORPORATION OF NAPLES CASH BALANCE PLAN 2019 401k membership
Market value of plan assets	2019-12-31	539,388
Acturial value of plan assets	2019-12-31	539,388
Funding target for retired participants and beneficiaries receiving payment	2019-12-31	287,395
Number of terminated vested participants	2019-12-31	1
Fundng target for terminated vested participants	2019-12-31	271,645
Active participant vested funding target	2019-12-31	10,571
Number of active participants	2019-12-31	4
Total funding liabilities for active participants	2019-12-31	10,571
Total participant count	2019-12-31	6
Total funding target for all participants	2019-12-31	569,611
Balance at beginning of prior year after applicable adjustments	2019-12-31	0
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	0
Amount remaining of prefunding balance	2019-12-31	0
Present value of excess contributions	2019-12-31	1,266
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2019-12-31	1,266
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	0
Balance of prefunding at beginning of current year	2019-12-31	0
Total employer contributions	2019-12-31	5,580
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	5,427
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	0
Net shortfall amortization installment of oustanding balance	2019-12-31	30,223
Waiver amortization installment	2019-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2019-12-31	5,401
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	5,401
Contributions allocatedtoward minimum required contributions for current year	2019-12-31	5,427
Unpaid minimum required contributions for current year	2019-12-31	0
Unpaid minimum required contributions for all years	2019-12-31	0
2018: INVESTMENT PROPERTIES CORPORATION OF NAPLES CASH BALANCE PLAN 2018 401k membership
Market value of plan assets	2018-12-31	250,884
Acturial value of plan assets	2018-12-31	250,884
Funding target for retired participants and beneficiaries receiving payment	2018-12-31	0
Number of terminated vested participants	2018-12-31	2
Fundng target for terminated vested participants	2018-12-31	271,545
Active participant vested funding target	2018-12-31	4,625
Number of active participants	2018-12-31	4
Total funding liabilities for active participants	2018-12-31	4,625
Total participant count	2018-12-31	6
Total funding target for all participants	2018-12-31	276,170
Balance at beginning of prior year after applicable adjustments	2018-12-31	0
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	0
Prefunding balanced used to offset prior years funding requirement	2018-12-31	0
Amount remaining of carryover balance	2018-12-31	0
Amount remaining of prefunding balance	2018-12-31	0
Present value of excess contributions	2018-12-31	2,702
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2018-12-31	2,702
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	0
Balance of prefunding at beginning of current year	2018-12-31	0
Total employer contributions	2018-12-31	271,240
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	269,201
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	263,807
Net shortfall amortization installment of oustanding balance	2018-12-31	25,286
Waiver amortization installment	2018-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2018-12-31	267,935
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	267,935
Contributions allocatedtoward minimum required contributions for current year	2018-12-31	269,201
Unpaid minimum required contributions for current year	2018-12-31	0
Unpaid minimum required contributions for all years	2018-12-31	0

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Company Name:	INVESTMENT PROPERTIES CORPORATION OF NAPLES
Employer identification number (EIN):	650798632
NAIC Classification:	531210
NAIC Description:	Offices of Real Estate Agents and Brokers

Jurisdiction of Incorporation:	Florida Department of State Division of Corporations
Incorporation Date:	1997-12-15
Company Identification Number:	P97000105219
Legal Registered Office Address:	CONROY, CONROY & DURANT, PA NAPLES 34109