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YOUNG'S MOBIL CORPORATION CASH BALANCE PLAN 401k Plan overview

Plan NameYOUNG'S MOBIL CORPORATION CASH BALANCE PLAN
Plan identification number 005

YOUNG'S MOBIL CORPORATION 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

YOUNGS MOBIL CORPORATION has sponsored the creation of one or more 401k plans.

Company Name:YOUNGS MOBIL CORPORATION
Employer identification number (EIN):954174118
NAIC Classification:447100
NAIC Description: Gasoline Stations, Gas

Additional information about YOUNGS MOBIL CORPORATION

Jurisdiction of Incorporation: California Department of State
Incorporation Date:
Company Identification Number: C1614581

More information about YOUNGS MOBIL CORPORATION

Form 5500 Filing Information

Submission information for form 5500 for 401k plan YOUNG'S MOBIL CORPORATION CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0052023-01-01
0052022-01-01
0052021-01-01
0052020-01-01
0052019-01-01
0052018-01-01
0052017-01-01

Plan Statistics for YOUNG'S MOBIL CORPORATION CASH BALANCE PLAN

401k plan membership statisitcs for YOUNG'S MOBIL CORPORATION CASH BALANCE PLAN

Measure Date Value
2022: YOUNG'S MOBIL CORPORATION CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-31610,271
Acturial value of plan assets2022-12-31610,271
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-311
Fundng target for terminated vested participants2022-12-311,309
Active participant vested funding target2022-12-31431,965
Number of active participants2022-12-316
Total funding liabilities for active participants2022-12-31431,965
Total participant count2022-12-317
Total funding target for all participants2022-12-31433,274
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 contributions2022-12-31124,039
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31124,039
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 contributions2022-12-31150,389
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 date2022-12-31148,812
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 cost2022-12-3172,668
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-310
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-310
Contributions allocatedtoward minimum required contributions for current year2022-12-31148,812
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: YOUNG'S MOBIL CORPORATION CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-31593,301
Acturial value of plan assets2021-12-31593,301
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-310
Fundng target for terminated vested participants2021-12-310
Active participant vested funding target2021-12-31367,376
Number of active participants2021-12-3110
Total funding liabilities for active participants2021-12-31368,180
Total participant count2021-12-3110
Total funding target for all participants2021-12-31368,180
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 contributions2021-12-3199,255
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-3199,255
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 contributions2021-12-31125,000
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 date2021-12-31124,039
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 cost2021-12-3180,790
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-310
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-310
Contributions allocatedtoward minimum required contributions for current year2021-12-31124,039
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: YOUNG'S MOBIL CORPORATION CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-31435,304
Acturial value of plan assets2020-12-31435,304
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-310
Fundng target for terminated vested participants2020-12-310
Active participant vested funding target2020-12-31277,005
Number of active participants2020-12-318
Total funding liabilities for active participants2020-12-31277,385
Total participant count2020-12-318
Total funding target for all participants2020-12-31277,385
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 contributions2020-12-3199,377
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-3199,377
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 contributions2020-12-31100,000
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 date2020-12-3199,255
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 cost2020-12-3167,235
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-310
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-310
Contributions allocatedtoward minimum required contributions for current year2020-12-3199,255
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: YOUNG'S MOBIL CORPORATION CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-31293,519
Acturial value of plan assets2019-12-31293,519
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-311
Fundng target for terminated vested participants2019-12-31300
Active participant vested funding target2019-12-31180,802
Number of active participants2019-12-315
Total funding liabilities for active participants2019-12-31180,802
Total participant count2019-12-316
Total funding target for all participants2019-12-31181,102
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 contributions2019-12-3175,883
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-3175,883
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 contributions2019-12-31100,000
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 date2019-12-3199,377
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 cost2019-12-3181,796
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-310
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-310
Contributions allocatedtoward minimum required contributions for current year2019-12-3199,377
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: YOUNG'S MOBIL CORPORATION CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-31114,775
Acturial value of plan assets2018-12-31114,775
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-311
Fundng target for terminated vested participants2018-12-31278
Active participant vested funding target2018-12-31117,424
Number of active participants2018-12-315
Total funding liabilities for active participants2018-12-31117,424
Total participant count2018-12-316
Total funding target for all participants2018-12-31117,702
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 contributions2018-12-319,670
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-319,670
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 contributions2018-12-31130,000
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 date2018-12-31129,243
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 cost2018-12-3152,882
Net shortfall amortization installment of oustanding balance2018-12-312,927
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-3153,360
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-3153,360
Contributions allocatedtoward minimum required contributions for current year2018-12-31129,243
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: YOUNG'S MOBIL CORPORATION CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-12-310
Acturial value of plan assets2017-12-310
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 target2017-12-310
Number of active participants2017-12-317
Total funding liabilities for active participants2017-12-310
Total participant count2017-12-317
Total funding target for all participants2017-12-310
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 contributions2017-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-310
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 contributions2017-12-31121,297
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 date2017-12-31120,056
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 cost2017-12-31110,386
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31110,386
Additional cash requirement2017-12-31110,386
Contributions allocatedtoward minimum required contributions for current year2017-12-31120,056
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310

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