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THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC. 401k Plan overview

Plan NameTHE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC.
Plan identification number 001

THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC. Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).

401k Sponsoring company profile

NEW ENGLAND COLLEGE OF BUSINESS AND FINANCE has sponsored the creation of one or more 401k plans.

Company Name:NEW ENGLAND COLLEGE OF BUSINESS AND FINANCE
Employer identification number (EIN):042214828
NAIC Classification:611000

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC.

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012017-09-01ABBY TANGERMAN2019-06-13
0012016-09-01JESSICA MCKEE2018-05-24
0012015-09-01KELLY PAYANT2017-06-06 KELLY PAYANT2017-06-06
0012014-09-01KELLY PAYANT2016-05-26 KELLY PAYANT2016-05-26
0012013-09-01MARIA OUCKAMA MARIA OUCKAMA2015-06-11
0012012-09-01WILLIAM MCDONALD WILLIAM MCDONALD2014-05-27
0012011-09-01WILLIAM MCDONALD WILLIAM MCDONALD2013-06-10
0012010-09-01WILLIAM MCDONALD WILLIAM MCDONALD2012-06-13
0012009-09-01WILLIAM MCDONALD WILLIAM MCDONALD2011-06-10

Plan Statistics for THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC.

401k plan membership statisitcs for THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC.

Measure Date Value
2018: THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC. 2018 401k membership
Market value of plan assets2018-08-311,736,642
Acturial value of plan assets2018-08-311,736,642
Funding target for retired participants and beneficiaries receiving payment2018-08-311,123,323
Number of terminated vested participants2018-08-3115
Fundng target for terminated vested participants2018-08-31578,458
Active participant vested funding target2018-08-3143,133
Number of active participants2018-08-311
Total funding liabilities for active participants2018-08-3143,133
Total participant count2018-08-3126
Total funding target for all participants2018-08-311,744,914
Balance at beginning of prior year after applicable adjustments2018-08-310
Prefunding balance at beginning of prior year after applicable adjustments2018-08-310
Amount remaining of carryover balance2018-08-310
Amount remaining of prefunding balance2018-08-310
Present value of excess contributions2018-08-3116
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-08-3117
Balance of carryovers at beginning of current year2018-08-310
Balance of prefunding at beginning of current year2018-08-310
Total employer contributions2018-08-3122,532
Total employee contributions2018-08-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-08-3121,846
Remaining amount of unpaid minimum required contributions2018-08-310
Minimum required contributions for current year target normal cost2018-08-310
Net shortfall amortization installment of oustanding balance2018-08-318,272
Total funding amount beforereflecting carryover/prefunding balances2018-08-3124,851
Additional cash requirement2018-08-3124,851
Contributions allocatedtoward minimum required contributions for current year2018-08-3121,846
Unpaid minimum required contributions for current year2018-08-313,005
Unpaid minimum required contributions for all years2018-08-313,005
2017: THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC. 2017 401k membership
Market value of plan assets2017-08-311,630,050
Acturial value of plan assets2017-08-311,630,050
Funding target for retired participants and beneficiaries receiving payment2017-08-311,133,027
Number of terminated vested participants2017-08-3115
Fundng target for terminated vested participants2017-08-31530,168
Active participant vested funding target2017-08-3138,716
Number of active participants2017-08-311
Total funding liabilities for active participants2017-08-3138,716
Total participant count2017-08-3126
Total funding target for all participants2017-08-311,701,911
Balance at beginning of prior year after applicable adjustments2017-08-310
Prefunding balance at beginning of prior year after applicable adjustments2017-08-310
Amount remaining of carryover balance2017-08-310
Amount remaining of prefunding balance2017-08-310
Present value of excess contributions2017-08-314,346
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-08-314,615
Balance of carryovers at beginning of current year2017-08-310
Balance of prefunding at beginning of current year2017-08-310
Total employer contributions2017-08-3147,338
Total employee contributions2017-08-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-08-3145,295
Liquidity shortfalls end of Q12017-08-310
Liquidity shortfalls end of Q22017-08-310
Liquidity shortfalls end of Q32017-08-310
Liquidity shortfalls end of Q42017-08-310
Remaining amount of unpaid minimum required contributions2017-08-310
Minimum required contributions for current year target normal cost2017-08-310
Net shortfall amortization installment of oustanding balance2017-08-3171,861
Total funding amount beforereflecting carryover/prefunding balances2017-08-3145,279
Additional cash requirement2017-08-3145,279
Contributions allocatedtoward minimum required contributions for current year2017-08-3145,295
Unpaid minimum required contributions for current year2017-08-310
Unpaid minimum required contributions for all years2017-08-310
2013: THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC. 2013 401k membership
Total participants, beginning-of-year2013-09-0126
Total number of active participants reported on line 7a of the Form 55002013-09-011
Number of retired or separated participants receiving benefits2013-09-019
Number of other retired or separated participants entitled to future benefits2013-09-0116
Total of all active and inactive participants2013-09-0126
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-09-010
Total participants2013-09-0126
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-09-010
2012: THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC. 2012 401k membership
Total participants, beginning-of-year2012-09-0126
Total number of active participants reported on line 7a of the Form 55002012-09-011
Number of retired or separated participants receiving benefits2012-09-019
Number of other retired or separated participants entitled to future benefits2012-09-0116
Total of all active and inactive participants2012-09-0126
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-09-010
Total participants2012-09-0126
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-09-010
2011: THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC. 2011 401k membership
Total participants, beginning-of-year2011-09-0126
Total number of active participants reported on line 7a of the Form 55002011-09-011
Number of retired or separated participants receiving benefits2011-09-018
Number of other retired or separated participants entitled to future benefits2011-09-0117
Total of all active and inactive participants2011-09-0126
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-09-010
Total participants2011-09-0126
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-09-010
2010: THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC. 2010 401k membership
Total participants, beginning-of-year2010-09-0126
Total number of active participants reported on line 7a of the Form 55002010-09-011
Number of retired or separated participants receiving benefits2010-09-018
Number of other retired or separated participants entitled to future benefits2010-09-0117
Total of all active and inactive participants2010-09-0126
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-09-010
Total participants2010-09-0126
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-09-010
2009: THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC. 2009 401k membership
Total participants, beginning-of-year2009-09-0126
Total number of active participants reported on line 7a of the Form 55002009-09-012
Number of retired or separated participants receiving benefits2009-09-017
Number of other retired or separated participants entitled to future benefits2009-09-0117
Total of all active and inactive participants2009-09-0126
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-09-010
Total participants2009-09-0126
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-09-010

Financial Data on THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC.

Measure Date Value
2014 : THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC. 2014 401k financial data
Total income from all sources2014-08-31$172,743
Expenses. Total of all expenses incurred2014-08-31$107,881
Benefits paid (including direct rollovers)2014-08-31$107,881
Total plan assets at end of year2014-08-31$1,385,298
Total plan assets at beginning of year2014-08-31$1,320,436
Value of fidelity bond covering the plan2014-08-31$250,000
Other income received2014-08-31$172,743
Net income (gross income less expenses)2014-08-31$64,862
Net plan assets at end of year (total assets less liabilities)2014-08-31$1,385,298
Net plan assets at beginning of year (total assets less liabilities)2014-08-31$1,320,436
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2014-08-31$0
2013 : THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC. 2013 401k financial data
Total income from all sources2013-08-31$244,632
Expenses. Total of all expenses incurred2013-08-31$107,562
Benefits paid (including direct rollovers)2013-08-31$107,272
Total plan assets at end of year2013-08-31$1,320,436
Total plan assets at beginning of year2013-08-31$1,183,366
Value of fidelity bond covering the plan2013-08-31$250,000
Other income received2013-08-31$95,770
Net income (gross income less expenses)2013-08-31$137,070
Net plan assets at end of year (total assets less liabilities)2013-08-31$1,320,436
Net plan assets at beginning of year (total assets less liabilities)2013-08-31$1,183,366
Total contributions received or receivable from employer(s)2013-08-31$148,862
Expenses. Administrative service providers (salaries,fees and commissions)2013-08-31$290
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2013-08-31$0
2012 : THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC. 2012 401k financial data
Total income from all sources2012-08-31$442,057
Expenses. Total of all expenses incurred2012-08-31$116,062
Benefits paid (including direct rollovers)2012-08-31$115,882
Total plan assets at end of year2012-08-31$1,183,366
Total plan assets at beginning of year2012-08-31$857,371
Value of fidelity bond covering the plan2012-08-31$250,000
Other income received2012-08-31$83,582
Net income (gross income less expenses)2012-08-31$325,995
Net plan assets at end of year (total assets less liabilities)2012-08-31$1,183,366
Net plan assets at beginning of year (total assets less liabilities)2012-08-31$857,371
Total contributions received or receivable from employer(s)2012-08-31$358,475
Expenses. Administrative service providers (salaries,fees and commissions)2012-08-31$180
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-08-31$0
2011 : THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC. 2011 401k financial data
Total income from all sources2011-08-31$-53,022
Expenses. Total of all expenses incurred2011-08-31$103,690
Benefits paid (including direct rollovers)2011-08-31$103,690
Total plan assets at end of year2011-08-31$857,371
Total plan assets at beginning of year2011-08-31$1,014,083
Value of fidelity bond covering the plan2011-08-31$250,000
Other income received2011-08-31$-53,022
Net income (gross income less expenses)2011-08-31$-156,712
Net plan assets at end of year (total assets less liabilities)2011-08-31$857,371
Net plan assets at beginning of year (total assets less liabilities)2011-08-31$1,014,083
Total contributions received or receivable from employer(s)2011-08-31$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-08-31$0
2010 : THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC. 2010 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-08-31$0

Form 5500 Responses for THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC.

2013: THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC. 2013 form 5500 responses
2013-09-01Type of plan entitySingle employer plan
2013-09-01Submission has been amendedNo
2013-09-01This submission is the final filingNo
2013-09-01This return/report is a short plan year return/report (less than 12 months)No
2013-09-01Plan is a collectively bargained planNo
2013-09-01Plan funding arrangement – TrustYes
2013-09-01Plan benefit arrangement - TrustYes
2012: THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC. 2012 form 5500 responses
2012-09-01Type of plan entitySingle employer plan
2012-09-01Submission has been amendedNo
2012-09-01This submission is the final filingNo
2012-09-01This return/report is a short plan year return/report (less than 12 months)No
2012-09-01Plan is a collectively bargained planNo
2012-09-01Plan funding arrangement – TrustYes
2012-09-01Plan benefit arrangement - TrustYes
2011: THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC. 2011 form 5500 responses
2011-09-01Type of plan entitySingle employer plan
2011-09-01Submission has been amendedNo
2011-09-01This submission is the final filingNo
2011-09-01This return/report is a short plan year return/report (less than 12 months)No
2011-09-01Plan is a collectively bargained planNo
2011-09-01Plan funding arrangement – TrustYes
2011-09-01Plan benefit arrangement - TrustYes
2010: THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC. 2010 form 5500 responses
2010-09-01Type of plan entitySingle employer plan
2010-09-01Submission has been amendedNo
2010-09-01This submission is the final filingNo
2010-09-01This return/report is a short plan year return/report (less than 12 months)No
2010-09-01Plan is a collectively bargained planNo
2010-09-01Plan funding arrangement – TrustYes
2010-09-01Plan benefit arrangement - TrustYes
2009: THE RETIREMENT PLAN FOR THE EMPLOYEES OF THE NEW ENGLAND BANKING INSTITUTE, INC. 2009 form 5500 responses
2009-09-01Type of plan entitySingle employer plan
2009-09-01Submission has been amendedNo
2009-09-01This submission is the final filingNo
2009-09-01This return/report is a short plan year return/report (less than 12 months)No
2009-09-01Plan is a collectively bargained planNo
2009-09-01Plan funding arrangement – TrustYes
2009-09-01Plan benefit arrangement - TrustYes

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