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NEW YORK WATER SERVICE CORPORATION PENSION PLAN 401k Plan overview

Plan NameNEW YORK WATER SERVICE CORPORATION PENSION PLAN
Plan identification number 002

NEW YORK WATER SERVICE CORPORATION PENSION PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related

401k Sponsoring company profile

LIBERTY UTILITIES (NEW YORK WATER) CORP. has sponsored the creation of one or more 401k plans.

Company Name:LIBERTY UTILITIES (NEW YORK WATER) CORP.
Employer identification number (EIN):111516966
NAIC Classification:221300

Form 5500 Filing Information

Submission information for form 5500 for 401k plan NEW YORK WATER SERVICE CORPORATION PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01PUNAM MAINI2023-10-11
0022021-01-01PUNAM MAINI2022-10-14
0022020-01-01NICHOLL SALAMONE2021-10-15
0022019-01-01NICHOLL SALAMONE2020-10-13
0022019-01-01

Plan Statistics for NEW YORK WATER SERVICE CORPORATION PENSION PLAN

401k plan membership statisitcs for NEW YORK WATER SERVICE CORPORATION PENSION PLAN

Measure Date Value
2022: NEW YORK WATER SERVICE CORPORATION PENSION PLAN 2022 401k membership
Market value of plan assets2022-12-3120,783,509
Acturial value of plan assets2022-12-3119,521,971
Funding target for retired participants and beneficiaries receiving payment2022-12-315,626,191
Number of terminated vested participants2022-12-3123
Fundng target for terminated vested participants2022-12-312,538,758
Active participant vested funding target2022-12-319,785,116
Number of active participants2022-12-3113
Total funding liabilities for active participants2022-12-3110,020,010
Total participant count2022-12-3161
Total funding target for all participants2022-12-3118,184,959
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 contributions2022-12-31107,544
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31113,459
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 contributions2022-12-31910,000
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 date2022-12-31870,085
Liquidity shortfalls end of Q12022-12-310
Liquidity shortfalls end of Q22022-12-310
Liquidity shortfalls end of Q32022-12-310
Liquidity shortfalls end of Q42022-12-310
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 cost2022-12-31968,744
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 year2022-12-31870,085
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: NEW YORK WATER SERVICE CORPORATION PENSION PLAN 2021 401k membership
Market value of plan assets2021-12-3123,724,199
Acturial value of plan assets2021-12-3121,476,607
Funding target for retired participants and beneficiaries receiving payment2021-12-316,344,001
Number of terminated vested participants2021-12-3126
Fundng target for terminated vested participants2021-12-313,290,274
Active participant vested funding target2021-12-3111,843,773
Number of active participants2021-12-3116
Total funding liabilities for active participants2021-12-3111,843,773
Total participant count2021-12-3170
Total funding target for all participants2021-12-3121,478,048
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 contributions2021-12-315,450
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-315,737
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 contributions2021-12-311,057,245
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 date2021-12-311,010,634
Liquidity shortfalls end of Q12021-12-310
Liquidity shortfalls end of Q22021-12-310
Liquidity shortfalls end of Q32021-12-310
Liquidity shortfalls end of Q42021-12-310
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 cost2021-12-31902,956
Net shortfall amortization installment of oustanding balance2021-12-311,441
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-31903,090
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-31903,090
Contributions allocatedtoward minimum required contributions for current year2021-12-311,010,634
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: NEW YORK WATER SERVICE CORPORATION PENSION PLAN 2020 401k membership
Market value of plan assets2020-12-3124,046,685
Acturial value of plan assets2020-12-3122,260,741
Funding target for retired participants and beneficiaries receiving payment2020-12-317,587,167
Number of terminated vested participants2020-12-3128
Fundng target for terminated vested participants2020-12-313,435,389
Active participant vested funding target2020-12-3112,019,241
Number of active participants2020-12-3118
Total funding liabilities for active participants2020-12-3112,198,274
Total participant count2020-12-3174
Total funding target for all participants2020-12-3123,220,830
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
Present value of excess contributions2020-12-314,658
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-314,911
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 contributions2020-12-311,096,821
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 date2020-12-311,054,428
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
Remaining amount of unpaid minimum required contributions2020-12-310
Minimum required contributions for current year target normal cost2020-12-31794,378
Net shortfall amortization installment of oustanding balance2020-12-31960,089
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-311,048,978
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-311,048,978
Contributions allocatedtoward minimum required contributions for current year2020-12-311,054,428
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
Total participants, beginning-of-year2020-01-0174
Total number of active participants reported on line 7a of the Form 55002020-01-0116
Number of retired or separated participants receiving benefits2020-01-0126
Number of other retired or separated participants entitled to future benefits2020-01-0126
Total of all active and inactive participants2020-01-0168
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-012
Total participants2020-01-0170
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: NEW YORK WATER SERVICE CORPORATION PENSION PLAN 2019 401k membership
Market value of plan assets2019-12-3119,643,257
Acturial value of plan assets2019-12-3120,513,369
Funding target for retired participants and beneficiaries receiving payment2019-12-316,715,524
Number of terminated vested participants2019-12-3128
Fundng target for terminated vested participants2019-12-313,505,347
Active participant vested funding target2019-12-3111,274,604
Number of active participants2019-12-3121
Total funding liabilities for active participants2019-12-3111,274,604
Total participant count2019-12-3176
Total funding target for all participants2019-12-3121,495,475
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
Present value of excess contributions2019-12-312,808
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-312,965
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 contributions2019-12-311,227,000
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 date2019-12-311,175,941
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
Remaining amount of unpaid minimum required contributions2019-12-310
Minimum required contributions for current year target normal cost2019-12-31944,166
Net shortfall amortization installment of oustanding balance2019-12-31982,106
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-311,171,283
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-311,171,283
Contributions allocatedtoward minimum required contributions for current year2019-12-311,175,941
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
Total participants, beginning-of-year2019-01-0176
Total number of active participants reported on line 7a of the Form 55002019-01-0118
Number of retired or separated participants receiving benefits2019-01-0126
Number of other retired or separated participants entitled to future benefits2019-01-0128
Total of all active and inactive participants2019-01-0172
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-012
Total participants2019-01-0174
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010

Financial Data on NEW YORK WATER SERVICE CORPORATION PENSION PLAN

Measure Date Value
2020 : NEW YORK WATER SERVICE CORPORATION PENSION PLAN 2020 401k financial data
Total plan liabilities at end of year2020-12-31$17,901
Total income from all sources2020-12-31$3,988,636
Expenses. Total of all expenses incurred2020-12-31$4,237,246
Benefits paid (including direct rollovers)2020-12-31$4,092,099
Total plan assets at end of year2020-12-31$23,361,527
Total plan assets at beginning of year2020-12-31$23,592,236
Value of fidelity bond covering the plan2020-12-31$10,000,000
Expenses. Other expenses not covered elsewhere2020-12-31$8,438
Other income received2020-12-31$2,815,815
Net income (gross income less expenses)2020-12-31$-248,610
Net plan assets at end of year (total assets less liabilities)2020-12-31$23,343,626
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$23,592,236
Total contributions received or receivable from employer(s)2020-12-31$1,172,821
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$136,709
2019 : NEW YORK WATER SERVICE CORPORATION PENSION PLAN 2019 401k financial data
Total income from all sources2019-12-31$6,102,793
Expenses. Total of all expenses incurred2019-12-31$1,729,918
Benefits paid (including direct rollovers)2019-12-31$1,666,510
Total plan assets at end of year2019-12-31$23,592,236
Total plan assets at beginning of year2019-12-31$19,219,361
Value of fidelity bond covering the plan2019-12-31$10,000,000
Expenses. Other expenses not covered elsewhere2019-12-31$58,446
Other income received2019-12-31$4,905,793
Net income (gross income less expenses)2019-12-31$4,372,875
Net plan assets at end of year (total assets less liabilities)2019-12-31$23,592,236
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$19,219,361
Total contributions received or receivable from employer(s)2019-12-31$1,197,000
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$4,962

Form 5500 Responses for NEW YORK WATER SERVICE CORPORATION PENSION PLAN

2020: NEW YORK WATER SERVICE CORPORATION PENSION PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: NEW YORK WATER SERVICE CORPORATION PENSION PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes

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