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GOOD NEWS ESCROW, INC. CASH BALANCE PLAN 401k Plan overview

Plan NameGOOD NEWS ESCROW, INC. CASH BALANCE PLAN
Plan identification number 003

GOOD NEWS ESCROW, INC. 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).
  • Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).
  • 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

GOOD NEWS ESCROW, INC. has sponsored the creation of one or more 401k plans.

Company Name:GOOD NEWS ESCROW, INC.
Employer identification number (EIN):134256875
NAIC Classification:531390
NAIC Description:Other Activities Related to Real Estate

Additional information about GOOD NEWS ESCROW, INC.

Jurisdiction of Incorporation: California Department of State
Incorporation Date: 2003-06-25
Company Identification Number: C2541274
Legal Registered Office Address: 17800 Castleton St. #175

City Of Industry
United States of America (USA)
91748

More information about GOOD NEWS ESCROW, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan GOOD NEWS ESCROW, INC. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032022-07-01
0032021-07-01

Plan Statistics for GOOD NEWS ESCROW, INC. CASH BALANCE PLAN

401k plan membership statisitcs for GOOD NEWS ESCROW, INC. CASH BALANCE PLAN

Measure Date Value
2023: GOOD NEWS ESCROW, INC. CASH BALANCE PLAN 2023 401k membership
Market value of plan assets2023-06-30120,361
Acturial value of plan assets2023-06-30120,361
Funding target for retired participants and beneficiaries receiving payment2023-06-300
Number of terminated vested participants2023-06-300
Fundng target for terminated vested participants2023-06-300
Active participant vested funding target2023-06-300
Number of active participants2023-06-303
Total funding liabilities for active participants2023-06-30108,526
Total participant count2023-06-303
Total funding target for all participants2023-06-30108,526
Balance at beginning of prior year after applicable adjustments2023-06-300
Prefunding balance at beginning of prior year after applicable adjustments2023-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2023-06-300
Prefunding balanced used to offset prior years funding requirement2023-06-300
Amount remaining of carryover balance2023-06-300
Amount remaining of prefunding balance2023-06-300
Present value of excess contributions2023-06-3017,026
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2023-06-3017,026
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2023-06-300
Reductions in caryover balances due to elections or deemed elections2023-06-300
Reductions in prefunding balances due to elections or deemed elections2023-06-300
Balance of carryovers at beginning of current year2023-06-300
Balance of prefunding at beginning of current year2023-06-300
Total employer contributions2023-06-300
Total employee contributions2023-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2023-06-300
Contributions made to avoid restrictions adjusted to valuation date2023-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2023-06-300
Unpaid minimum required contributions for all prior years2023-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2023-06-300
Remaining amount of unpaid minimum required contributions2023-06-300
Minimum required contributions for current year target normal cost2023-06-300
Net shortfall amortization installment of oustanding balance2023-06-300
Waiver amortization installment2023-06-300
Total funding amount beforereflecting carryover/prefunding balances2023-06-300
Carryover balance elected to use to offset funding requirement2023-06-300
Prefunding balance elected to use to offset funding requirement2023-06-300
Additional cash requirement2023-06-300
Contributions allocatedtoward minimum required contributions for current year2023-06-300
Unpaid minimum required contributions for current year2023-06-300
Unpaid minimum required contributions for all years2023-06-300
2022: GOOD NEWS ESCROW, INC. CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-06-300
Acturial value of plan assets2022-06-300
Funding target for retired participants and beneficiaries receiving payment2022-06-300
Number of terminated vested participants2022-06-300
Fundng target for terminated vested participants2022-06-300
Active participant vested funding target2022-06-300
Number of active participants2022-06-303
Total funding liabilities for active participants2022-06-300
Total participant count2022-06-303
Total funding target for all participants2022-06-300
Balance at beginning of prior year after applicable adjustments2022-06-300
Prefunding balance at beginning of prior year after applicable adjustments2022-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2022-06-300
Prefunding balanced used to offset prior years funding requirement2022-06-300
Amount remaining of carryover balance2022-06-300
Amount remaining of prefunding balance2022-06-300
Present value of excess contributions2022-06-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-06-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-06-300
Reductions in caryover balances due to elections or deemed elections2022-06-300
Reductions in prefunding balances due to elections or deemed elections2022-06-300
Balance of carryovers at beginning of current year2022-06-300
Balance of prefunding at beginning of current year2022-06-300
Total employer contributions2022-06-30120,000
Total employee contributions2022-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2022-06-300
Contributions made to avoid restrictions adjusted to valuation date2022-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-06-30118,350
Unpaid minimum required contributions for all prior years2022-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-06-300
Remaining amount of unpaid minimum required contributions2022-06-300
Minimum required contributions for current year target normal cost2022-06-30101,324
Net shortfall amortization installment of oustanding balance2022-06-300
Waiver amortization installment2022-06-300
Total funding amount beforereflecting carryover/prefunding balances2022-06-30101,324
Additional cash requirement2022-06-30101,324
Contributions allocatedtoward minimum required contributions for current year2022-06-30118,350
Unpaid minimum required contributions for current year2022-06-300
Unpaid minimum required contributions for all years2022-06-300

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