MECHANICS SAVINGS BANK has sponsored the creation of one or more 401k plans.
Submission information for form 5500 for 401k plan RETIREMENT PLAN OF MECHANICS SAVINGS BANK
Measure | Date | Value |
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2022: RETIREMENT PLAN OF MECHANICS SAVINGS BANK 2022 401k membership |
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Market value of plan assets | 2022-09-30 | 12,167,645 |
Acturial value of plan assets | 2022-09-30 | 12,167,645 |
Funding target for retired participants and beneficiaries receiving payment | 2022-09-30 | 3,801,994 |
Number of terminated vested participants | 2022-09-30 | 38 |
Fundng target for terminated vested participants | 2022-09-30 | 1,194,080 |
Active participant vested funding target | 2022-09-30 | 1,561,997 |
Number of active participants | 2022-09-30 | 38 |
Total funding liabilities for active participants | 2022-09-30 | 1,561,997 |
Total participant count | 2022-09-30 | 106 |
Total funding target for all participants | 2022-09-30 | 6,558,071 |
Balance at beginning of prior year after applicable adjustments | 2022-09-30 | 0 |
Prefunding balance at beginning of prior year after applicable adjustments | 2022-09-30 | 2,917,776 |
Amount remaining of carryover balance | 2022-09-30 | 0 |
Amount remaining of prefunding balance | 2022-09-30 | 2,917,776 |
Present value of excess contributions | 2022-09-30 | 381,356 |
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance | 2022-09-30 | 403,856 |
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance | 2022-09-30 | 0 |
Reductions in caryover balances due to elections or deemed elections | 2022-09-30 | 0 |
Reductions in prefunding balances due to elections or deemed elections | 2022-09-30 | 0 |
Balance of carryovers at beginning of current year | 2022-09-30 | 0 |
Balance of prefunding at beginning of current year | 2022-09-30 | 3,353,400 |
Total employer contributions | 2022-09-30 | 0 |
Total employee contributions | 2022-09-30 | 0 |
Contributions allocated toward unpaid minimum require contributions from prior years | 2022-09-30 | 0 |
Contributions made to avoid restrictions adjusted to valuation date | 2022-09-30 | 0 |
Contributions allocated toward minimum required contributions for current year adjusted to valuation date | 2022-09-30 | 0 |
Unpaid minimum required contributions for all prior years | 2022-09-30 | 0 |
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years | 2022-09-30 | 0 |
Remaining amount of unpaid minimum required contributions | 2022-09-30 | 0 |
Minimum required contributions for current year target normal cost | 2022-09-30 | 0 |
Net shortfall amortization installment of oustanding balance | 2022-09-30 | 0 |
Waiver amortization installment | 2022-09-30 | 0 |
Total funding amount beforereflecting carryover/prefunding balances | 2022-09-30 | 0 |
Carryover balance elected to use to offset funding requirement | 2022-09-30 | 0 |
Prefunding balance elected to use to offset funding requirement | 2022-09-30 | 0 |
Additional cash requirement | 2022-09-30 | 0 |
Contributions allocatedtoward minimum required contributions for current year | 2022-09-30 | 0 |
Unpaid minimum required contributions for current year | 2022-09-30 | 0 |
Unpaid minimum required contributions for all years | 2022-09-30 | 0 |
2021: RETIREMENT PLAN OF MECHANICS SAVINGS BANK 2021 401k membership |
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Market value of plan assets | 2021-09-30 | 10,609,955 |
Acturial value of plan assets | 2021-09-30 | 10,609,955 |
Funding target for retired participants and beneficiaries receiving payment | 2021-09-30 | 3,665,948 |
Number of terminated vested participants | 2021-09-30 | 36 |
Fundng target for terminated vested participants | 2021-09-30 | 1,094,428 |
Active participant vested funding target | 2021-09-30 | 1,730,269 |
Number of active participants | 2021-09-30 | 43 |
Total funding liabilities for active participants | 2021-09-30 | 1,730,269 |
Total participant count | 2021-09-30 | 107 |
Total funding target for all participants | 2021-09-30 | 6,490,645 |
Balance at beginning of prior year after applicable adjustments | 2021-09-30 | 0 |
Prefunding balance at beginning of prior year after applicable adjustments | 2021-09-30 | 2,751,840 |
Carryover balanced portion elected for use to offset prior years funding requirement | 2021-09-30 | 0 |
Prefunding balanced used to offset prior years funding requirement | 2021-09-30 | 0 |
Amount remaining of carryover balance | 2021-09-30 | 0 |
Amount remaining of prefunding balance | 2021-09-30 | 2,751,840 |
Present value of excess contributions | 2021-09-30 | 390,711 |
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance | 2021-09-30 | 412,708 |
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance | 2021-09-30 | 0 |
Reductions in caryover balances due to elections or deemed elections | 2021-09-30 | 0 |
Reductions in prefunding balances due to elections or deemed elections | 2021-09-30 | 0 |
Balance of carryovers at beginning of current year | 2021-09-30 | 0 |
Balance of prefunding at beginning of current year | 2021-09-30 | 2,917,776 |
Total employer contributions | 2021-09-30 | 400,000 |
Total employee contributions | 2021-09-30 | 0 |
Contributions allocated toward unpaid minimum require contributions from prior years | 2021-09-30 | 0 |
Contributions made to avoid restrictions adjusted to valuation date | 2021-09-30 | 0 |
Contributions allocated toward minimum required contributions for current year adjusted to valuation date | 2021-09-30 | 381,356 |
Unpaid minimum required contributions for all prior years | 2021-09-30 | 0 |
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years | 2021-09-30 | 0 |
Remaining amount of unpaid minimum required contributions | 2021-09-30 | 0 |
Minimum required contributions for current year target normal cost | 2021-09-30 | 0 |
Net shortfall amortization installment of oustanding balance | 2021-09-30 | 0 |
Waiver amortization installment | 2021-09-30 | 0 |
Total funding amount beforereflecting carryover/prefunding balances | 2021-09-30 | 0 |
Additional cash requirement | 2021-09-30 | 0 |
Contributions allocatedtoward minimum required contributions for current year | 2021-09-30 | 381,356 |
Unpaid minimum required contributions for current year | 2021-09-30 | 0 |
Unpaid minimum required contributions for all years | 2021-09-30 | 0 |
2020: RETIREMENT PLAN OF MECHANICS SAVINGS BANK 2020 401k membership |
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Market value of plan assets | 2020-09-30 | 9,989,208 |
Acturial value of plan assets | 2020-09-30 | 9,989,208 |
Funding target for retired participants and beneficiaries receiving payment | 2020-09-30 | 2,815,146 |
Number of terminated vested participants | 2020-09-30 | 37 |
Fundng target for terminated vested participants | 2020-09-30 | 1,751,784 |
Active participant vested funding target | 2020-09-30 | 2,048,703 |
Number of active participants | 2020-09-30 | 44 |
Total funding liabilities for active participants | 2020-09-30 | 2,056,961 |
Total participant count | 2020-09-30 | 109 |
Total funding target for all participants | 2020-09-30 | 6,623,891 |
Balance at beginning of prior year after applicable adjustments | 2020-09-30 | 0 |
Prefunding balance at beginning of prior year after applicable adjustments | 2020-09-30 | 2,629,565 |
Carryover balanced portion elected for use to offset prior years funding requirement | 2020-09-30 | 0 |
Prefunding balanced used to offset prior years funding requirement | 2020-09-30 | 0 |
Amount remaining of carryover balance | 2020-09-30 | 0 |
Amount remaining of prefunding balance | 2020-09-30 | 2,629,565 |
Present value of excess contributions | 2020-09-30 | 391,596 |
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance | 2020-09-30 | 414,387 |
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance | 2020-09-30 | 0 |
Reductions in caryover balances due to elections or deemed elections | 2020-09-30 | 0 |
Reductions in prefunding balances due to elections or deemed elections | 2020-09-30 | 0 |
Balance of carryovers at beginning of current year | 2020-09-30 | 0 |
Balance of prefunding at beginning of current year | 2020-09-30 | 2,751,840 |
Total employer contributions | 2020-09-30 | 400,000 |
Total employee contributions | 2020-09-30 | 0 |
Contributions allocated toward unpaid minimum require contributions from prior years | 2020-09-30 | 0 |
Contributions made to avoid restrictions adjusted to valuation date | 2020-09-30 | 0 |
Contributions allocated toward minimum required contributions for current year adjusted to valuation date | 2020-09-30 | 390,711 |
Unpaid minimum required contributions for all prior years | 2020-09-30 | 0 |
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years | 2020-09-30 | 0 |
Remaining amount of unpaid minimum required contributions | 2020-09-30 | 0 |
Minimum required contributions for current year target normal cost | 2020-09-30 | 0 |
Net shortfall amortization installment of oustanding balance | 2020-09-30 | 0 |
Waiver amortization installment | 2020-09-30 | 0 |
Total funding amount beforereflecting carryover/prefunding balances | 2020-09-30 | 0 |
Carryover balance elected to use to offset funding requirement | 2020-09-30 | 0 |
Prefunding balance elected to use to offset funding requirement | 2020-09-30 | 0 |
Additional cash requirement | 2020-09-30 | 0 |
Contributions allocatedtoward minimum required contributions for current year | 2020-09-30 | 390,711 |
Unpaid minimum required contributions for current year | 2020-09-30 | 0 |
Unpaid minimum required contributions for all years | 2020-09-30 | 0 |
2019: RETIREMENT PLAN OF MECHANICS SAVINGS BANK 2019 401k membership |
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Market value of plan assets | 2019-09-30 | 9,494,117 |
Acturial value of plan assets | 2019-09-30 | 9,494,117 |
Funding target for retired participants and beneficiaries receiving payment | 2019-09-30 | 2,800,505 |
Number of terminated vested participants | 2019-09-30 | 35 |
Fundng target for terminated vested participants | 2019-09-30 | 1,275,411 |
Active participant vested funding target | 2019-09-30 | 2,295,874 |
Number of active participants | 2019-09-30 | 48 |
Total funding liabilities for active participants | 2019-09-30 | 2,302,941 |
Total participant count | 2019-09-30 | 110 |
Total funding target for all participants | 2019-09-30 | 6,378,857 |
Balance at beginning of prior year after applicable adjustments | 2019-09-30 | 0 |
Prefunding balance at beginning of prior year after applicable adjustments | 2019-09-30 | 2,464,447 |
Carryover balanced portion elected for use to offset prior years funding requirement | 2019-09-30 | 0 |
Prefunding balanced used to offset prior years funding requirement | 2019-09-30 | 0 |
Amount remaining of carryover balance | 2019-09-30 | 0 |
Amount remaining of prefunding balance | 2019-09-30 | 2,464,447 |
Present value of excess contributions | 2019-09-30 | 783,767 |
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance | 2019-09-30 | 830,950 |
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance | 2019-09-30 | 0 |
Reductions in caryover balances due to elections or deemed elections | 2019-09-30 | 0 |
Reductions in prefunding balances due to elections or deemed elections | 2019-09-30 | 0 |
Balance of carryovers at beginning of current year | 2019-09-30 | 0 |
Balance of prefunding at beginning of current year | 2019-09-30 | 2,629,565 |
Total employer contributions | 2019-09-30 | 400,000 |
Total employee contributions | 2019-09-30 | 0 |
Contributions allocated toward unpaid minimum require contributions from prior years | 2019-09-30 | 0 |
Contributions made to avoid restrictions adjusted to valuation date | 2019-09-30 | 0 |
Contributions allocated toward minimum required contributions for current year adjusted to valuation date | 2019-09-30 | 391,596 |
Unpaid minimum required contributions for all prior years | 2019-09-30 | 0 |
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years | 2019-09-30 | 0 |
Remaining amount of unpaid minimum required contributions | 2019-09-30 | 0 |
Minimum required contributions for current year target normal cost | 2019-09-30 | 0 |
Net shortfall amortization installment of oustanding balance | 2019-09-30 | 0 |
Waiver amortization installment | 2019-09-30 | 0 |
Total funding amount beforereflecting carryover/prefunding balances | 2019-09-30 | 0 |
Carryover balance elected to use to offset funding requirement | 2019-09-30 | 0 |
Prefunding balance elected to use to offset funding requirement | 2019-09-30 | 0 |
Additional cash requirement | 2019-09-30 | 0 |
Contributions allocatedtoward minimum required contributions for current year | 2019-09-30 | 391,596 |
Unpaid minimum required contributions for current year | 2019-09-30 | 0 |
Unpaid minimum required contributions for all years | 2019-09-30 | 0 |
2018: RETIREMENT PLAN OF MECHANICS SAVINGS BANK 2018 401k membership |
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Market value of plan assets | 2018-09-30 | 8,440,999 |
Acturial value of plan assets | 2018-09-30 | 8,440,999 |
Funding target for retired participants and beneficiaries receiving payment | 2018-09-30 | 2,546,766 |
Number of terminated vested participants | 2018-09-30 | 33 |
Fundng target for terminated vested participants | 2018-09-30 | 920,477 |
Active participant vested funding target | 2018-09-30 | 2,288,764 |
Number of active participants | 2018-09-30 | 53 |
Total funding liabilities for active participants | 2018-09-30 | 2,303,527 |
Total participant count | 2018-09-30 | 109 |
Total funding target for all participants | 2018-09-30 | 5,770,770 |
Balance at beginning of prior year after applicable adjustments | 2018-09-30 | 0 |
Prefunding balance at beginning of prior year after applicable adjustments | 2018-09-30 | 2,231,076 |
Carryover balanced portion elected for use to offset prior years funding requirement | 2018-09-30 | 0 |
Prefunding balanced used to offset prior years funding requirement | 2018-09-30 | 0 |
Amount remaining of carryover balance | 2018-09-30 | 0 |
Amount remaining of prefunding balance | 2018-09-30 | 2,231,076 |
Present value of excess contributions | 2018-09-30 | 391,508 |
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance | 2018-09-30 | 415,821 |
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance | 2018-09-30 | 0 |
Reductions in caryover balances due to elections or deemed elections | 2018-09-30 | 0 |
Reductions in prefunding balances due to elections or deemed elections | 2018-09-30 | 0 |
Balance of carryovers at beginning of current year | 2018-09-30 | 0 |
Balance of prefunding at beginning of current year | 2018-09-30 | 2,464,447 |
Total employer contributions | 2018-09-30 | 800,000 |
Total employee contributions | 2018-09-30 | 0 |
Contributions allocated toward unpaid minimum require contributions from prior years | 2018-09-30 | 0 |
Contributions made to avoid restrictions adjusted to valuation date | 2018-09-30 | 0 |
Contributions allocated toward minimum required contributions for current year adjusted to valuation date | 2018-09-30 | 783,767 |
Liquidity shortfalls end of Q1 | 2018-09-30 | 0 |
Liquidity shortfalls end of Q2 | 2018-09-30 | 0 |
Liquidity shortfalls end of Q3 | 2018-09-30 | 0 |
Liquidity shortfalls end of Q4 | 2018-09-30 | 0 |
Unpaid minimum required contributions for all prior years | 2018-09-30 | 0 |
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years | 2018-09-30 | 0 |
Remaining amount of unpaid minimum required contributions | 2018-09-30 | 0 |
Minimum required contributions for current year target normal cost | 2018-09-30 | 0 |
Net shortfall amortization installment of oustanding balance | 2018-09-30 | 0 |
Waiver amortization installment | 2018-09-30 | 0 |
Total funding amount beforereflecting carryover/prefunding balances | 2018-09-30 | 0 |
Carryover balance elected to use to offset funding requirement | 2018-09-30 | 0 |
Prefunding balance elected to use to offset funding requirement | 2018-09-30 | 0 |
Additional cash requirement | 2018-09-30 | 0 |
Contributions allocatedtoward minimum required contributions for current year | 2018-09-30 | 783,767 |
Unpaid minimum required contributions for current year | 2018-09-30 | 0 |
Unpaid minimum required contributions for all years | 2018-09-30 | 0 |
2017: RETIREMENT PLAN OF MECHANICS SAVINGS BANK 2017 401k membership |
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Market value of plan assets | 2017-09-30 | 7,560,477 |
Acturial value of plan assets | 2017-09-30 | 7,560,477 |
Funding target for retired participants and beneficiaries receiving payment | 2017-09-30 | 2,433,177 |
Number of terminated vested participants | 2017-09-30 | 33 |
Fundng target for terminated vested participants | 2017-09-30 | 857,222 |
Active participant vested funding target | 2017-09-30 | 2,231,560 |
Number of active participants | 2017-09-30 | 56 |
Total funding liabilities for active participants | 2017-09-30 | 2,245,152 |
Total participant count | 2017-09-30 | 109 |
Total funding target for all participants | 2017-09-30 | 5,535,551 |
Balance at beginning of prior year after applicable adjustments | 2017-09-30 | 0 |
Prefunding balance at beginning of prior year after applicable adjustments | 2017-09-30 | 2,037,698 |
Carryover balanced portion elected for use to offset prior years funding requirement | 2017-09-30 | 0 |
Prefunding balanced used to offset prior years funding requirement | 2017-09-30 | 0 |
Amount remaining of carryover balance | 2017-09-30 | 0 |
Amount remaining of prefunding balance | 2017-09-30 | 2,037,698 |
Present value of excess contributions | 2017-09-30 | 386,451 |
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance | 2017-09-30 | 411,223 |
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance | 2017-09-30 | 0 |
Reductions in caryover balances due to elections or deemed elections | 2017-09-30 | 0 |
Reductions in prefunding balances due to elections or deemed elections | 2017-09-30 | 0 |
Balance of carryovers at beginning of current year | 2017-09-30 | 0 |
Balance of prefunding at beginning of current year | 2017-09-30 | 2,231,076 |
Total employer contributions | 2017-09-30 | 400,000 |
Total employee contributions | 2017-09-30 | 0 |
Contributions allocated toward unpaid minimum require contributions from prior years | 2017-09-30 | 0 |
Contributions made to avoid restrictions adjusted to valuation date | 2017-09-30 | 0 |
Contributions allocated toward minimum required contributions for current year adjusted to valuation date | 2017-09-30 | 391,508 |
Liquidity shortfalls end of Q1 | 2017-09-30 | 0 |
Liquidity shortfalls end of Q2 | 2017-09-30 | 0 |
Liquidity shortfalls end of Q3 | 2017-09-30 | 0 |
Liquidity shortfalls end of Q4 | 2017-09-30 | 0 |
Unpaid minimum required contributions for all prior years | 2017-09-30 | 0 |
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years | 2017-09-30 | 0 |
Remaining amount of unpaid minimum required contributions | 2017-09-30 | 0 |
Minimum required contributions for current year target normal cost | 2017-09-30 | 0 |
Net shortfall amortization installment of oustanding balance | 2017-09-30 | 0 |
Waiver amortization installment | 2017-09-30 | 0 |
Total funding amount beforereflecting carryover/prefunding balances | 2017-09-30 | 0 |
Carryover balance elected to use to offset funding requirement | 2017-09-30 | 0 |
Prefunding balance elected to use to offset funding requirement | 2017-09-30 | 0 |
Additional cash requirement | 2017-09-30 | 0 |
Contributions allocatedtoward minimum required contributions for current year | 2017-09-30 | 391,508 |
Unpaid minimum required contributions for current year | 2017-09-30 | 0 |
Unpaid minimum required contributions for all years | 2017-09-30 | 0 |