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ABACUS SOLUTIONS, INC. CASH BALANCE PLAN 401k Plan overview

Plan NameABACUS SOLUTIONS, INC. CASH BALANCE PLAN
Plan identification number 002

ABACUS SOLUTIONS, 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).

401k Sponsoring company profile

ABACUS SOLUTIONS, INC. has sponsored the creation of one or more 401k plans.

Company Name:ABACUS SOLUTIONS, INC.
Employer identification number (EIN):201905987
NAIC Classification:541600

Form 5500 Filing Information

Submission information for form 5500 for 401k plan ABACUS SOLUTIONS, INC. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022021-07-01SALIM JABBOUR2023-01-22
0022020-07-01SALIM JABBOUR2022-01-27 SALIM JABBOUR2022-01-27
0022019-07-01SALIM JABBOUR2021-01-11 SALIM JABBOUR2021-01-11
0022018-07-01SALIM JABBOUR2020-01-23 SALIM JABBOUR2020-01-23
0022017-07-01SALIM JABBOUR2018-09-16 SALIM JABBOUR2018-09-16
0022016-07-01SALIM JABBOUR2018-04-09 SALIM JABBOUR2018-04-09
0022015-07-01SALIM JABBOUR2017-01-30 SALIM JABBOUR2017-01-30

Plan Statistics for ABACUS SOLUTIONS, INC. CASH BALANCE PLAN

401k plan membership statisitcs for ABACUS SOLUTIONS, INC. CASH BALANCE PLAN

Measure Date Value
2022: ABACUS SOLUTIONS, INC. CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-06-301,576,949
Acturial value of plan assets2022-06-301,576,949
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 target2022-06-301,327,675
Number of active participants2022-06-302
Total funding liabilities for active participants2022-06-301,327,675
Total participant count2022-06-302
Total funding target for all participants2022-06-301,327,675
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
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 contributions2022-06-30257,000
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 date2022-06-30254,561
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 cost2022-06-30112,415
Net shortfall amortization installment of oustanding balance2022-06-300
Waiver amortization installment2022-06-300
Total funding amount beforereflecting carryover/prefunding balances2022-06-300
Additional cash requirement2022-06-300
Contributions allocatedtoward minimum required contributions for current year2022-06-30254,561
Unpaid minimum required contributions for current year2022-06-300
Unpaid minimum required contributions for all years2022-06-300
2021: ABACUS SOLUTIONS, INC. CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-06-302,060,114
Acturial value of plan assets2021-06-302,060,114
Funding target for retired participants and beneficiaries receiving payment2021-06-300
Number of terminated vested participants2021-06-302
Fundng target for terminated vested participants2021-06-3049,414
Active participant vested funding target2021-06-301,054,451
Number of active participants2021-06-302
Total funding liabilities for active participants2021-06-301,054,451
Total participant count2021-06-304
Total funding target for all participants2021-06-301,103,865
Balance at beginning of prior year after applicable adjustments2021-06-300
Prefunding balance at beginning of prior year after applicable adjustments2021-06-300
Amount remaining of carryover balance2021-06-300
Amount remaining of prefunding balance2021-06-300
Present value of excess contributions2021-06-30125,911
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-06-30125,911
Balance of carryovers at beginning of current year2021-06-300
Balance of prefunding at beginning of current year2021-06-300
Total employer contributions2021-06-300
Total employee contributions2021-06-300
Remaining amount of unpaid minimum required contributions2021-06-300
Minimum required contributions for current year target normal cost2021-06-30145,172
Total funding amount beforereflecting carryover/prefunding balances2021-06-300
Additional cash requirement2021-06-300
Unpaid minimum required contributions for current year2021-06-300
Unpaid minimum required contributions for all years2021-06-300
2020: ABACUS SOLUTIONS, INC. CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-06-301,361,553
Acturial value of plan assets2020-06-301,361,553
Funding target for retired participants and beneficiaries receiving payment2020-06-300
Number of terminated vested participants2020-06-300
Fundng target for terminated vested participants2020-06-300
Active participant vested funding target2020-06-30934,592
Number of active participants2020-06-304
Total funding liabilities for active participants2020-06-30934,592
Total participant count2020-06-304
Total funding target for all participants2020-06-30934,592
Balance at beginning of prior year after applicable adjustments2020-06-300
Prefunding balance at beginning of prior year after applicable adjustments2020-06-300
Amount remaining of carryover balance2020-06-300
Amount remaining of prefunding balance2020-06-300
Present value of excess contributions2020-06-30109,241
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-06-30109,241
Balance of carryovers at beginning of current year2020-06-300
Balance of prefunding at beginning of current year2020-06-300
Total employer contributions2020-06-30127,300
Total employee contributions2020-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-06-30125,911
Remaining amount of unpaid minimum required contributions2020-06-300
Minimum required contributions for current year target normal cost2020-06-30188,237
Total funding amount beforereflecting carryover/prefunding balances2020-06-300
Additional cash requirement2020-06-300
Contributions allocatedtoward minimum required contributions for current year2020-06-30125,911
Unpaid minimum required contributions for current year2020-06-300
Unpaid minimum required contributions for all years2020-06-300
2019: ABACUS SOLUTIONS, INC. CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-06-301,026,695
Acturial value of plan assets2019-06-301,026,695
Funding target for retired participants and beneficiaries receiving payment2019-06-300
Number of terminated vested participants2019-06-300
Fundng target for terminated vested participants2019-06-300
Active participant vested funding target2019-06-30788,344
Number of active participants2019-06-304
Total funding liabilities for active participants2019-06-30788,344
Total participant count2019-06-304
Total funding target for all participants2019-06-30788,344
Balance at beginning of prior year after applicable adjustments2019-06-300
Prefunding balance at beginning of prior year after applicable adjustments2019-06-300
Amount remaining of carryover balance2019-06-300
Amount remaining of prefunding balance2019-06-300
Present value of excess contributions2019-06-30191,951
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-06-30191,951
Balance of carryovers at beginning of current year2019-06-300
Balance of prefunding at beginning of current year2019-06-300
Total employer contributions2019-06-30109,840
Total employee contributions2019-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-06-30109,241
Remaining amount of unpaid minimum required contributions2019-06-300
Minimum required contributions for current year target normal cost2019-06-30105,682
Total funding amount beforereflecting carryover/prefunding balances2019-06-300
Additional cash requirement2019-06-300
Contributions allocatedtoward minimum required contributions for current year2019-06-30109,241
Unpaid minimum required contributions for current year2019-06-300
Unpaid minimum required contributions for all years2019-06-300
2018: ABACUS SOLUTIONS, INC. CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-06-30707,533
Acturial value of plan assets2018-06-30707,533
Funding target for retired participants and beneficiaries receiving payment2018-06-300
Number of terminated vested participants2018-06-300
Fundng target for terminated vested participants2018-06-300
Active participant vested funding target2018-06-30654,045
Number of active participants2018-06-304
Total funding liabilities for active participants2018-06-30654,045
Total participant count2018-06-304
Total funding target for all participants2018-06-30654,045
Balance at beginning of prior year after applicable adjustments2018-06-300
Prefunding balance at beginning of prior year after applicable adjustments2018-06-300
Amount remaining of carryover balance2018-06-300
Amount remaining of prefunding balance2018-06-300
Present value of excess contributions2018-06-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-06-300
Balance of carryovers at beginning of current year2018-06-300
Balance of prefunding at beginning of current year2018-06-300
Total employer contributions2018-06-30221,959
Total employee contributions2018-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-06-30224,014
Remaining amount of unpaid minimum required contributions2018-06-300
Minimum required contributions for current year target normal cost2018-06-3085,551
Total funding amount beforereflecting carryover/prefunding balances2018-06-3032,063
Additional cash requirement2018-06-3032,063
Contributions allocatedtoward minimum required contributions for current year2018-06-30224,014
Unpaid minimum required contributions for current year2018-06-300
Unpaid minimum required contributions for all years2018-06-300
2017: ABACUS SOLUTIONS, INC. CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-06-30618,993
Acturial value of plan assets2017-06-30618,993
Funding target for retired participants and beneficiaries receiving payment2017-06-300
Number of terminated vested participants2017-06-300
Fundng target for terminated vested participants2017-06-300
Active participant vested funding target2017-06-30435,119
Number of active participants2017-06-304
Total funding liabilities for active participants2017-06-30435,119
Total participant count2017-06-304
Total funding target for all participants2017-06-30435,119
Balance at beginning of prior year after applicable adjustments2017-06-300
Prefunding balance at beginning of prior year after applicable adjustments2017-06-300
Amount remaining of carryover balance2017-06-300
Amount remaining of prefunding balance2017-06-300
Present value of excess contributions2017-06-30153,369
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-06-30153,369
Balance of carryovers at beginning of current year2017-06-300
Balance of prefunding at beginning of current year2017-06-300
Total employer contributions2017-06-300
Total employee contributions2017-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-06-300
Remaining amount of unpaid minimum required contributions2017-06-300
Minimum required contributions for current year target normal cost2017-06-30112,785
Total funding amount beforereflecting carryover/prefunding balances2017-06-300
Additional cash requirement2017-06-300
Contributions allocatedtoward minimum required contributions for current year2017-06-300
Unpaid minimum required contributions for current year2017-06-300
Unpaid minimum required contributions for all years2017-06-300

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