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PENSION PLAN FOR EMPLOYEES OF NEWPORT TELEPHONE COMPANY, INC. 401k Plan overview

Plan NamePENSION PLAN FOR EMPLOYEES OF NEWPORT TELEPHONE COMPANY, INC.
Plan identification number 001

PENSION PLAN FOR EMPLOYEES OF NEWPORT TELEPHONE COMPANY, 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).
  • 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

NEWPORT TELEPHONE COMPANY, INC. has sponsored the creation of one or more 401k plans.

Company Name:NEWPORT TELEPHONE COMPANY, INC.
Employer identification number (EIN):150400170
NAIC Classification:517000

Additional information about NEWPORT TELEPHONE COMPANY, INC.

Jurisdiction of Incorporation: New York Department of State
Incorporation Date: 1913-06-12
Company Identification Number: 22863
Legal Registered Office Address: BRIDGE STREET
Herkimer
NEWPORT
United States of America (USA)
13416

More information about NEWPORT TELEPHONE COMPANY, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PENSION PLAN FOR EMPLOYEES OF NEWPORT TELEPHONE COMPANY, INC.

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01JOSEPH TOMAINO2023-10-11 JOSEPH TOMAINO2023-10-11
0012021-01-01JOSEPH TOMAINO2022-10-07 JOSEPH TOMAINO2022-10-07
0012020-01-01JOSEPH TOMAINO2021-10-13 JOSEPH TOMAINO2021-10-13
0012019-01-01HARLEY M. RUPPERT2020-10-06 HARLEY M. RUPPERT2020-10-06
0012018-01-01HARLEY RUPPERT2019-10-09 HARLEY RUPPERT2019-10-09
0012017-01-01HARLEY M. RUPPERT2018-10-09 HARLEY M. RUPPERT2018-10-09
0012016-01-01HARLEY M RUPPERT2017-10-02 HARLEY M RUPPERT2017-10-02
0012015-01-01HARLEY M RUPPERT2016-09-14 HARLEY M RUPPERT2016-09-14
0012014-01-01HARLEY M RUPPERT2015-09-09 HARLEY M RUPPERT2015-09-09
0012013-01-01HARLEY M RUPPERT2014-10-01 HARLEY M RUPPERT2014-10-01
0012012-01-01HARLEY M. RUPPERT2013-10-08 HARLEY M. RUPPERT2013-10-08
0012011-01-01HARLEY M. RUPPERT2012-10-04 HARLEY M. RUPPERT2012-10-04
0012010-01-01HARLEY M. RUPPERT2011-10-05 HARLEY M. RUPPERT2011-10-05

Plan Statistics for PENSION PLAN FOR EMPLOYEES OF NEWPORT TELEPHONE COMPANY, INC.

401k plan membership statisitcs for PENSION PLAN FOR EMPLOYEES OF NEWPORT TELEPHONE COMPANY, INC.

Measure Date Value
2022: PENSION PLAN FOR EMPLOYEES OF NEWPORT TELEPHONE COMPANY, INC. 2022 401k membership
Market value of plan assets2022-12-312,201,673
Acturial value of plan assets2022-12-312,201,673
Funding target for retired participants and beneficiaries receiving payment2022-12-311,313,490
Number of terminated vested participants2022-12-317
Fundng target for terminated vested participants2022-12-31103,727
Active participant vested funding target2022-12-31530,173
Number of active participants2022-12-3112
Total funding liabilities for active participants2022-12-31530,173
Total participant count2022-12-3123
Total funding target for all participants2022-12-311,947,390
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-3160,528
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 balance2022-12-3160,528
Present value of excess contributions2022-12-312
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-312
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 year2022-12-3169,323
Total employer contributions2022-12-3144,001
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 date2022-12-3142,488
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 cost2022-12-310
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 year2022-12-3142,488
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: PENSION PLAN FOR EMPLOYEES OF NEWPORT TELEPHONE COMPANY, INC. 2021 401k membership
Market value of plan assets2021-12-312,098,697
Acturial value of plan assets2021-12-312,098,697
Funding target for retired participants and beneficiaries receiving payment2021-12-311,461,556
Number of terminated vested participants2021-12-317
Fundng target for terminated vested participants2021-12-31104,706
Active participant vested funding target2021-12-31578,394
Number of active participants2021-12-3113
Total funding liabilities for active participants2021-12-31578,394
Total participant count2021-12-3126
Total funding target for all participants2021-12-312,144,656
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-3154,757
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 balance2021-12-3154,757
Present value of excess contributions2021-12-315
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-315
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 year2021-12-3160,528
Total employer contributions2021-12-3138,507
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 date2021-12-3137,092
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 cost2021-12-310
Net shortfall amortization installment of oustanding balance2021-12-31106,487
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-3137,090
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-3137,090
Contributions allocatedtoward minimum required contributions for current year2021-12-3137,092
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: PENSION PLAN FOR EMPLOYEES OF NEWPORT TELEPHONE COMPANY, INC. 2020 401k membership
Market value of plan assets2020-12-312,016,711
Acturial value of plan assets2020-12-312,016,711
Funding target for retired participants and beneficiaries receiving payment2020-12-311,487,822
Number of terminated vested participants2020-12-317
Fundng target for terminated vested participants2020-12-3191,045
Active participant vested funding target2020-12-31505,606
Number of active participants2020-12-3113
Total funding liabilities for active participants2020-12-31505,606
Total participant count2020-12-3126
Total funding target for all participants2020-12-312,084,473
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-3146,641
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 balance2020-12-3146,641
Present value of excess contributions2020-12-3135
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-3137
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 year2020-12-3154,757
Total employer contributions2020-12-3136,200
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 date2020-12-3134,738
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
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 cost2020-12-310
Net shortfall amortization installment of oustanding balance2020-12-31122,519
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-3134,733
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-3134,733
Contributions allocatedtoward minimum required contributions for current year2020-12-3134,738
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: PENSION PLAN FOR EMPLOYEES OF NEWPORT TELEPHONE COMPANY, INC. 2019 401k membership
Market value of plan assets2019-12-311,816,940
Acturial value of plan assets2019-12-311,816,940
Funding target for retired participants and beneficiaries receiving payment2019-12-311,534,070
Number of terminated vested participants2019-12-318
Fundng target for terminated vested participants2019-12-3186,508
Active participant vested funding target2019-12-31462,999
Number of active participants2019-12-3113
Total funding liabilities for active participants2019-12-31462,999
Total participant count2019-12-3127
Total funding target for all participants2019-12-312,083,577
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-3199,937
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 balance2019-12-3199,937
Present value of excess contributions2019-12-311
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-311
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 elections2019-12-3146,500
Balance of carryovers at beginning of current year2019-12-310
Balance of prefunding at beginning of current year2019-12-3146,641
Total employer contributions2019-12-3161,592
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 date2019-12-3158,340
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
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 cost2019-12-310
Net shortfall amortization installment of oustanding balance2019-12-31313,278
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-3158,305
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-3158,305
Contributions allocatedtoward minimum required contributions for current year2019-12-3158,340
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: PENSION PLAN FOR EMPLOYEES OF NEWPORT TELEPHONE COMPANY, INC. 2018 401k membership
Market value of plan assets2018-12-312,091,779
Acturial value of plan assets2018-12-312,091,779
Funding target for retired participants and beneficiaries receiving payment2018-12-311,579,892
Number of terminated vested participants2018-12-318
Fundng target for terminated vested participants2018-12-3178,774
Active participant vested funding target2018-12-31421,981
Number of active participants2018-12-3113
Total funding liabilities for active participants2018-12-31421,981
Total participant count2018-12-3127
Total funding target for all participants2018-12-312,080,647
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-3187,518
Carryover balanced portion elected for use to offset prior years funding requirement2018-12-310
Prefunding balanced used to offset prior years funding requirement2018-12-310
Amount remaining of carryover balance2018-12-310
Amount remaining of prefunding balance2018-12-3187,518
Present value of excess contributions2018-12-311
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-311
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-310
Reductions in caryover balances due to elections or deemed elections2018-12-310
Reductions in prefunding balances due to elections or deemed elections2018-12-310
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-3199,937
Total employer contributions2018-12-3120,235
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 date2018-12-3119,399
Liquidity shortfalls end of Q12018-12-310
Liquidity shortfalls end of Q22018-12-310
Liquidity shortfalls end of Q32018-12-310
Liquidity shortfalls end of Q42018-12-310
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 cost2018-12-310
Net shortfall amortization installment of oustanding balance2018-12-3190,243
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-3119,398
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-3119,398
Contributions allocatedtoward minimum required contributions for current year2018-12-3119,399
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: PENSION PLAN FOR EMPLOYEES OF NEWPORT TELEPHONE COMPANY, INC. 2017 401k membership
Market value of plan assets2017-12-312,012,396
Acturial value of plan assets2017-12-312,012,396
Funding target for retired participants and beneficiaries receiving payment2017-12-311,555,463
Number of terminated vested participants2017-12-319
Fundng target for terminated vested participants2017-12-31105,578
Active participant vested funding target2017-12-31368,350
Number of active participants2017-12-3113
Total funding liabilities for active participants2017-12-31368,350
Total participant count2017-12-3128
Total funding target for all participants2017-12-312,029,391
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-3180,211
Carryover balanced portion elected for use to offset prior years funding requirement2017-12-310
Prefunding balanced used to offset prior years funding requirement2017-12-310
Amount remaining of carryover balance2017-12-310
Amount remaining of prefunding balance2017-12-3180,211
Present value of excess contributions2017-12-3112
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3113
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-12-310
Reductions in caryover balances due to elections or deemed elections2017-12-310
Reductions in prefunding balances due to elections or deemed elections2017-12-310
Balance of carryovers at beginning of current year2017-12-310
Balance of prefunding at beginning of current year2017-12-3187,518
Total employer contributions2017-12-3120,270
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 date2017-12-3119,399
Liquidity shortfalls end of Q12017-12-310
Liquidity shortfalls end of Q22017-12-310
Liquidity shortfalls end of Q32017-12-310
Liquidity shortfalls end of Q42017-12-310
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 cost2017-12-310
Net shortfall amortization installment of oustanding balance2017-12-31104,513
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-3119,398
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-3119,398
Contributions allocatedtoward minimum required contributions for current year2017-12-3119,399
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: PENSION PLAN FOR EMPLOYEES OF NEWPORT TELEPHONE COMPANY, INC. 2016 401k membership
Market value of plan assets2016-12-311,978,104
Acturial value of plan assets2016-12-311,978,104
Funding target for retired participants and beneficiaries receiving payment2016-12-311,585,849
Number of terminated vested participants2016-12-319
Fundng target for terminated vested participants2016-12-3195,713
Active participant vested funding target2016-12-31331,367
Number of active participants2016-12-3113
Total funding liabilities for active participants2016-12-31331,367
Total participant count2016-12-3128
Total funding target for all participants2016-12-312,012,929
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-3182,786
Carryover balanced portion elected for use to offset prior years funding requirement2016-12-310
Prefunding balanced used to offset prior years funding requirement2016-12-310
Amount remaining of carryover balance2016-12-310
Amount remaining of prefunding balance2016-12-3182,786
Present value of excess contributions2016-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2016-12-310
Reductions in caryover balances due to elections or deemed elections2016-12-310
Reductions in prefunding balances due to elections or deemed elections2016-12-310
Balance of carryovers at beginning of current year2016-12-310
Balance of prefunding at beginning of current year2016-12-3180,211
Total employer contributions2016-12-3121,015
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 date2016-12-3119,019
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 cost2016-12-310
Net shortfall amortization installment of oustanding balance2016-12-31115,036
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-3119,007
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-3119,007
Contributions allocatedtoward minimum required contributions for current year2016-12-3119,019
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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