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THE RETIERMENT PLAN OF MEDINA SAVINGS & LOAN ASSOCIATION 401k Plan overview

Plan NameTHE RETIERMENT PLAN OF MEDINA SAVINGS & LOAN ASSOCIATION
Plan identification number 005

THE RETIERMENT PLAN OF MEDINA SAVINGS & LOAN ASSOCIATION Benefits

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

401k Sponsoring company profile

GENERATIONS BANK has sponsored the creation of one or more 401k plans.

Company Name:GENERATIONS BANK
Employer identification number (EIN):150443420
NAIC Classification:522120
NAIC Description:Savings Institutions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE RETIERMENT PLAN OF MEDINA SAVINGS & LOAN ASSOCIATION

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0052021-10-01LORI PARISH2023-05-18 LORI PARISH2023-05-18
0052020-10-01LORI PARISH2022-06-08 LORI PARISH2022-06-08
0052019-10-01LORI PARISH2021-07-08 LORI PARISH2021-07-08
0052018-10-01LORI PARISH2020-07-08 LORI PARISH2020-07-08

Plan Statistics for THE RETIERMENT PLAN OF MEDINA SAVINGS & LOAN ASSOCIATION

401k plan membership statisitcs for THE RETIERMENT PLAN OF MEDINA SAVINGS & LOAN ASSOCIATION

Measure Date Value
2022: THE RETIERMENT PLAN OF MEDINA SAVINGS & LOAN ASSOCIATION 2022 401k membership
Market value of plan assets2022-09-306,068,362
Acturial value of plan assets2022-09-305,475,015
Funding target for retired participants and beneficiaries receiving payment2022-09-302,267,718
Number of terminated vested participants2022-09-303
Fundng target for terminated vested participants2022-09-30144,793
Active participant vested funding target2022-09-30120,764
Number of active participants2022-09-306
Total funding liabilities for active participants2022-09-30137,141
Total participant count2022-09-3019
Total funding target for all participants2022-09-302,549,652
Balance at beginning of prior year after applicable adjustments2022-09-300
Prefunding balance at beginning of prior year after applicable adjustments2022-09-302,116,323
Carryover balanced portion elected for use to offset prior years funding requirement2022-09-300
Prefunding balanced used to offset prior years funding requirement2022-09-300
Amount remaining of carryover balance2022-09-300
Amount remaining of prefunding balance2022-09-302,116,323
Present value of excess contributions2022-09-3016,997
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-09-3017,906
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-09-3017,906
Reductions in caryover balances due to elections or deemed elections2022-09-300
Reductions in prefunding balances due to elections or deemed elections2022-09-300
Balance of carryovers at beginning of current year2022-09-300
Balance of prefunding at beginning of current year2022-09-302,604,688
Contributions allocated toward unpaid minimum require contributions from prior years2022-09-300
Contributions made to avoid restrictions adjusted to valuation date2022-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-09-300
Unpaid minimum required contributions for all prior years2022-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-09-300
Remaining amount of unpaid minimum required contributions2022-09-300
Minimum required contributions for current year target normal cost2022-09-3022,421
Net shortfall amortization installment of oustanding balance2022-09-300
Waiver amortization installment2022-09-300
Total funding amount beforereflecting carryover/prefunding balances2022-09-300
Carryover balance elected to use to offset funding requirement2022-09-300
Prefunding balance elected to use to offset funding requirement2022-09-300
Additional cash requirement2022-09-300
Contributions allocatedtoward minimum required contributions for current year2022-09-300
Unpaid minimum required contributions for current year2022-09-300
Unpaid minimum required contributions for all years2022-09-300
2021: THE RETIERMENT PLAN OF MEDINA SAVINGS & LOAN ASSOCIATION 2021 401k membership
Market value of plan assets2021-09-305,314,406
Acturial value of plan assets2021-09-305,279,948
Funding target for retired participants and beneficiaries receiving payment2021-09-302,658,170
Number of terminated vested participants2021-09-304
Fundng target for terminated vested participants2021-09-30148,812
Active participant vested funding target2021-09-30105,035
Number of active participants2021-09-306
Total funding liabilities for active participants2021-09-30119,470
Total participant count2021-09-3024
Total funding target for all participants2021-09-302,926,452
Balance at beginning of prior year after applicable adjustments2021-09-300
Prefunding balance at beginning of prior year after applicable adjustments2021-09-301,949,450
Carryover balanced portion elected for use to offset prior years funding requirement2021-09-300
Prefunding balanced used to offset prior years funding requirement2021-09-300
Amount remaining of carryover balance2021-09-300
Amount remaining of prefunding balance2021-09-301,949,450
Present value of excess contributions2021-09-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-09-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-09-300
Reductions in caryover balances due to elections or deemed elections2021-09-300
Reductions in prefunding balances due to elections or deemed elections2021-09-300
Balance of carryovers at beginning of current year2021-09-300
Balance of prefunding at beginning of current year2021-09-302,116,323
Total employer contributions2021-09-3017,251
Total employee contributions2021-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2021-09-300
Contributions made to avoid restrictions adjusted to valuation date2021-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-09-3016,997
Unpaid minimum required contributions for all prior years2021-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-09-300
Remaining amount of unpaid minimum required contributions2021-09-300
Minimum required contributions for current year target normal cost2021-09-3016,596
Net shortfall amortization installment of oustanding balance2021-09-300
Waiver amortization installment2021-09-300
Total funding amount beforereflecting carryover/prefunding balances2021-09-300
Carryover balance elected to use to offset funding requirement2021-09-300
Prefunding balance elected to use to offset funding requirement2021-09-300
Additional cash requirement2021-09-300
Contributions allocatedtoward minimum required contributions for current year2021-09-3016,997
Unpaid minimum required contributions for current year2021-09-300
Unpaid minimum required contributions for all years2021-09-300
2020: THE RETIERMENT PLAN OF MEDINA SAVINGS & LOAN ASSOCIATION 2020 401k membership
Market value of plan assets2020-09-304,186,202
Acturial value of plan assets2020-09-304,272,645
Funding target for retired participants and beneficiaries receiving payment2020-09-301,291,957
Number of terminated vested participants2020-09-306
Fundng target for terminated vested participants2020-09-30118,412
Active participant vested funding target2020-09-30748,158
Number of active participants2020-09-309
Total funding liabilities for active participants2020-09-30759,323
Total participant count2020-09-3027
Total funding target for all participants2020-09-302,169,692
Balance at beginning of prior year after applicable adjustments2020-09-300
Prefunding balance at beginning of prior year after applicable adjustments2020-09-301,880,075
Carryover balanced portion elected for use to offset prior years funding requirement2020-09-300
Prefunding balanced used to offset prior years funding requirement2020-09-300
Amount remaining of carryover balance2020-09-300
Amount remaining of prefunding balance2020-09-301,880,075
Present value of excess contributions2020-09-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-09-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-09-300
Reductions in caryover balances due to elections or deemed elections2020-09-300
Reductions in prefunding balances due to elections or deemed elections2020-09-300
Balance of carryovers at beginning of current year2020-09-300
Balance of prefunding at beginning of current year2020-09-301,949,450
Contributions allocated toward unpaid minimum require contributions from prior years2020-09-300
Contributions made to avoid restrictions adjusted to valuation date2020-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-09-300
Unpaid minimum required contributions for all prior years2020-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-09-300
Remaining amount of unpaid minimum required contributions2020-09-300
Minimum required contributions for current year target normal cost2020-09-3014,629
Net shortfall amortization installment of oustanding balance2020-09-300
Waiver amortization installment2020-09-300
Total funding amount beforereflecting carryover/prefunding balances2020-09-300
Carryover balance elected to use to offset funding requirement2020-09-300
Prefunding balance elected to use to offset funding requirement2020-09-300
Additional cash requirement2020-09-300
Contributions allocatedtoward minimum required contributions for current year2020-09-300
Unpaid minimum required contributions for current year2020-09-300
Unpaid minimum required contributions for all years2020-09-300
2019: THE RETIERMENT PLAN OF MEDINA SAVINGS & LOAN ASSOCIATION 2019 401k membership
Market value of plan assets2019-09-305,221,698
Acturial value of plan assets2019-09-305,185,731
Funding target for retired participants and beneficiaries receiving payment2019-09-301,366,624
Number of terminated vested participants2019-09-307
Fundng target for terminated vested participants2019-09-30848,227
Active participant vested funding target2019-09-30686,574
Number of active participants2019-09-309
Total funding liabilities for active participants2019-09-30695,769
Total participant count2019-09-3028
Total funding target for all participants2019-09-302,910,620
Balance at beginning of prior year after applicable adjustments2019-09-300
Prefunding balance at beginning of prior year after applicable adjustments2019-09-300
Carryover balanced portion elected for use to offset prior years funding requirement2019-09-300
Prefunding balanced used to offset prior years funding requirement2019-09-300
Amount remaining of carryover balance2019-09-300
Amount remaining of prefunding balance2019-09-300
Present value of excess contributions2019-09-301,775,834
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-09-301,880,075
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-09-301,880,075
Reductions in caryover balances due to elections or deemed elections2019-09-300
Reductions in prefunding balances due to elections or deemed elections2019-09-300
Balance of carryovers at beginning of current year2019-09-300
Balance of prefunding at beginning of current year2019-09-301,880,075
Contributions allocated toward unpaid minimum require contributions from prior years2019-09-300
Contributions made to avoid restrictions adjusted to valuation date2019-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-09-300
Unpaid minimum required contributions for all prior years2019-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-09-300
Remaining amount of unpaid minimum required contributions2019-09-300
Minimum required contributions for current year target normal cost2019-09-3013,595
Net shortfall amortization installment of oustanding balance2019-09-300
Waiver amortization installment2019-09-300
Total funding amount beforereflecting carryover/prefunding balances2019-09-300
Carryover balance elected to use to offset funding requirement2019-09-300
Prefunding balance elected to use to offset funding requirement2019-09-300
Additional cash requirement2019-09-300
Contributions allocatedtoward minimum required contributions for current year2019-09-300
Unpaid minimum required contributions for current year2019-09-300
Unpaid minimum required contributions for all years2019-09-300

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