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PENSION PLAN FOR OFFICERS AND EMPLOYEES OF TEAMSTERS LOCAL 456 401k Plan overview

Plan NamePENSION PLAN FOR OFFICERS AND EMPLOYEES OF TEAMSTERS LOCAL 456
Plan identification number 001

PENSION PLAN FOR OFFICERS AND EMPLOYEES OF TEAMSTERS LOCAL 456 Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Floor-offset plan - Plan benefits are subject to offset for retirement benefits provided by an employer-sponsored defined contribution plan.
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

TEAMSTERS LOCAL 456 has sponsored the creation of one or more 401k plans.

Company Name:TEAMSTERS LOCAL 456
Employer identification number (EIN):133553789
NAIC Classification:813930
NAIC Description:Labor Unions and Similar Labor Organizations

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PENSION PLAN FOR OFFICERS AND EMPLOYEES OF TEAMSTERS LOCAL 456

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01LOUIS PICANI2023-07-28 LOUIS PICANI2023-07-28
0012021-01-01LOUIS A. PICANI2022-07-29 LOUIS A. PICANI2022-07-29
0012020-01-01LOUIS PICANI2021-08-02
0012019-01-01LOUIS PICANI2020-08-31
0012018-01-01
0012017-01-01
0012016-01-01
0012015-01-01
0012014-01-01BERNADETTE KELLY2015-10-07
0012013-01-01ROBERT ROBERGE2014-10-07
0012012-01-01ROBERT ROBERGE2013-07-17
0012011-01-01ROBERT ROBERGE2012-10-11
0012010-01-01ROBERT ROBERGE2011-10-11

Plan Statistics for PENSION PLAN FOR OFFICERS AND EMPLOYEES OF TEAMSTERS LOCAL 456

401k plan membership statisitcs for PENSION PLAN FOR OFFICERS AND EMPLOYEES OF TEAMSTERS LOCAL 456

Measure Date Value
2022: PENSION PLAN FOR OFFICERS AND EMPLOYEES OF TEAMSTERS LOCAL 456 2022 401k membership
Market value of plan assets2022-12-316,695,738
Acturial value of plan assets2022-12-316,695,738
Funding target for retired participants and beneficiaries receiving payment2022-12-313,764,708
Number of terminated vested participants2022-12-317
Fundng target for terminated vested participants2022-12-31577,134
Active participant vested funding target2022-12-312,108,942
Number of active participants2022-12-3113
Total funding liabilities for active participants2022-12-312,132,115
Total participant count2022-12-3137
Total funding target for all participants2022-12-316,473,957
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-3132,303
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 balance2022-12-3132,303
Present value of excess contributions2022-12-3164,803
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-3168,406
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-3168,406
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 year2022-12-31103,703
Total employer contributions2022-12-31299,000
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 date2022-12-31291,167
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 cost2022-12-31198,205
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-3180,127
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-3180,127
Contributions allocatedtoward minimum required contributions for current year2022-12-31291,167
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: PENSION PLAN FOR OFFICERS AND EMPLOYEES OF TEAMSTERS LOCAL 456 2021 401k membership
Market value of plan assets2021-12-316,187,822
Acturial value of plan assets2021-12-316,187,418
Funding target for retired participants and beneficiaries receiving payment2021-12-313,958,609
Number of terminated vested participants2021-12-3118
Fundng target for terminated vested participants2021-12-31535,019
Active participant vested funding target2021-12-311,448,019
Number of active participants2021-12-317
Total funding liabilities for active participants2021-12-311,643,927
Total participant count2021-12-3138
Total funding target for all participants2021-12-316,137,555
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-3129,005
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 balance2021-12-3129,005
Present value of excess contributions2021-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-310
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 year2021-12-3132,303
Total employer contributions2021-12-31384,712
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 date2021-12-31375,080
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 cost2021-12-31327,837
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-31310,277
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-31310,277
Contributions allocatedtoward minimum required contributions for current year2021-12-31375,080
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: PENSION PLAN FOR OFFICERS AND EMPLOYEES OF TEAMSTERS LOCAL 456 2020 401k membership
Market value of plan assets2020-12-315,803,304
Acturial value of plan assets2020-12-315,783,301
Funding target for retired participants and beneficiaries receiving payment2020-12-313,399,826
Number of terminated vested participants2020-12-317
Fundng target for terminated vested participants2020-12-31500,193
Active participant vested funding target2020-12-31746,420
Number of active participants2020-12-3113
Total funding liabilities for active participants2020-12-311,804,787
Total participant count2020-12-3136
Total funding target for all participants2020-12-315,704,806
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-3124,719
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 balance2020-12-3124,719
Present value of excess contributions2020-12-3172
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-3176
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-3176
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 year2020-12-3129,005
Total employer contributions2020-12-31169,930
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 date2020-12-31162,486
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 cost2020-12-31211,976
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-31162,486
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-31162,486
Contributions allocatedtoward minimum required contributions for current year2020-12-31162,486
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: PENSION PLAN FOR OFFICERS AND EMPLOYEES OF TEAMSTERS LOCAL 456 2019 401k membership
Market value of plan assets2019-12-314,997,315
Acturial value of plan assets2019-12-314,997,315
Funding target for retired participants and beneficiaries receiving payment2019-12-312,754,012
Number of terminated vested participants2019-12-318
Fundng target for terminated vested participants2019-12-311,298,967
Active participant vested funding target2019-12-31701,248
Number of active participants2019-12-3113
Total funding liabilities for active participants2019-12-311,571,789
Total participant count2019-12-3135
Total funding target for all participants2019-12-315,624,768
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-3124,848
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 balance2019-12-3124,848
Present value of excess contributions2019-12-31647
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-31684
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-31684
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 year2019-12-3124,719
Total employer contributions2019-12-31370,263
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 date2019-12-31343,241
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 cost2019-12-31214,368
Net shortfall amortization installment of oustanding balance2019-12-31654,813
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31343,169
Additional cash requirement2019-12-31343,169
Contributions allocatedtoward minimum required contributions for current year2019-12-31343,241
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: PENSION PLAN FOR OFFICERS AND EMPLOYEES OF TEAMSTERS LOCAL 456 2018 401k membership
Market value of plan assets2018-12-315,161,228
Acturial value of plan assets2018-12-315,161,228
Funding target for retired participants and beneficiaries receiving payment2018-12-312,825,715
Number of terminated vested participants2018-12-317
Fundng target for terminated vested participants2018-12-311,213,078
Active participant vested funding target2018-12-311,077,521
Number of active participants2018-12-3112
Total funding liabilities for active participants2018-12-311,197,915
Total participant count2018-12-3135
Total funding target for all participants2018-12-315,236,708
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-310
Amount remaining of carryover balance2018-12-310
Amount remaining of prefunding balance2018-12-310
Present value of excess contributions2018-12-3123,475
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-3124,848
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-3124,848
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-3124,848
Total employer contributions2018-12-31344,621
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 date2018-12-31320,823
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 cost2018-12-31286,863
Net shortfall amortization installment of oustanding balance2018-12-31100,328
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31320,177
Additional cash requirement2018-12-31320,177
Contributions allocatedtoward minimum required contributions for current year2018-12-31320,823
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: PENSION PLAN FOR OFFICERS AND EMPLOYEES OF TEAMSTERS LOCAL 456 2017 401k membership
Market value of plan assets2017-12-314,616,817
Acturial value of plan assets2017-12-314,616,817
Funding target for retired participants and beneficiaries receiving payment2017-12-312,867,353
Number of terminated vested participants2017-12-318
Fundng target for terminated vested participants2017-12-311,105,871
Active participant vested funding target2017-12-31932,739
Number of active participants2017-12-3110
Total funding liabilities for active participants2017-12-311,068,878
Total participant count2017-12-3133
Total funding target for all participants2017-12-315,042,102
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-310
Amount remaining of carryover balance2017-12-310
Amount remaining of prefunding balance2017-12-310
Present value of excess contributions2017-12-3127,566
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3129,228
Balance of carryovers at beginning of current year2017-12-310
Balance of prefunding at beginning of current year2017-12-310
Total employer contributions2017-12-31380,000
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 date2017-12-31353,428
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 cost2017-12-31252,758
Net shortfall amortization installment of oustanding balance2017-12-31425,285
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31329,953
Additional cash requirement2017-12-31329,953
Contributions allocatedtoward minimum required contributions for current year2017-12-31353,428
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: PENSION PLAN FOR OFFICERS AND EMPLOYEES OF TEAMSTERS LOCAL 456 2016 401k membership
Market value of plan assets2016-12-314,353,674
Acturial value of plan assets2016-12-314,353,674
Funding target for retired participants and beneficiaries receiving payment2016-12-312,905,643
Number of terminated vested participants2016-12-3110
Fundng target for terminated vested participants2016-12-311,015,022
Active participant vested funding target2016-12-31541,866
Number of active participants2016-12-3111
Total funding liabilities for active participants2016-12-31811,638
Total participant count2016-12-3136
Total funding target for all participants2016-12-314,732,303
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-310
Amount remaining of carryover balance2016-12-310
Amount remaining of prefunding balance2016-12-310
Present value of excess contributions2016-12-3112,856
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-3113,654
Balance of carryovers at beginning of current year2016-12-310
Balance of prefunding at beginning of current year2016-12-310
Total employer contributions2016-12-31310,000
Total employee contributions2016-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2016-12-310
Contributions made to avoid restrictions adjusted to valuation date2016-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2016-12-31289,617
Unpaid minimum required contributions for all prior years2016-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2016-12-310
Remaining amount of unpaid minimum required contributions2016-12-310
Minimum required contributions for current year target normal cost2016-12-31199,493
Net shortfall amortization installment of oustanding balance2016-12-31378,629
Waiver amortization installment2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-31262,051
Additional cash requirement2016-12-31262,051
Contributions allocatedtoward minimum required contributions for current year2016-12-31289,617
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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