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FIRST FINANCIAL FCU CASH BALANCE DEFINED BENEFIT PLAN AND TRUST 401k Plan overview

Plan NameFIRST FINANCIAL FCU CASH BALANCE DEFINED BENEFIT PLAN AND TRUST
Plan identification number 001

FIRST FINANCIAL FCU CASH BALANCE DEFINED BENEFIT PLAN AND TRUST 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).
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).

401k Sponsoring company profile

FIRST FINANCIAL FEDERAL CREDIT UNION has sponsored the creation of one or more 401k plans.

Company Name:FIRST FINANCIAL FEDERAL CREDIT UNION
Employer identification number (EIN):210635256
NAIC Classification:522130
NAIC Description:Credit Unions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FIRST FINANCIAL FCU CASH BALANCE DEFINED BENEFIT PLAN AND TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01PATRICIA RAZZANO2023-05-05
0012021-01-01PATRICIA RAZZANO2022-05-04
0012020-01-01PATRICIA RAZZANO2021-07-09
0012019-01-01PATRICIA RAZZANO2020-07-22
0012018-01-01PATRICIA RAZZANO2019-03-14
0012017-01-01PATRICIA RAZZANO2018-06-06
0012016-01-01PATRICIA RAZZANO2017-05-12
0012015-01-01HELGA BRITTON2016-05-19
0012014-01-01HELGA BRITTON2015-06-26
0012013-01-01HELGA BRITTON2014-07-01
0012012-01-01HELGA BRITTON2013-08-21
0012011-01-01HELGA BRITTON2012-07-13
0012010-01-01HELGA BRITTON2011-05-06

Plan Statistics for FIRST FINANCIAL FCU CASH BALANCE DEFINED BENEFIT PLAN AND TRUST

401k plan membership statisitcs for FIRST FINANCIAL FCU CASH BALANCE DEFINED BENEFIT PLAN AND TRUST

Measure Date Value
2022: FIRST FINANCIAL FCU CASH BALANCE DEFINED BENEFIT PLAN AND TRUST 2022 401k membership
Market value of plan assets2022-12-317,677,145
Acturial value of plan assets2022-12-317,677,145
Funding target for retired participants and beneficiaries receiving payment2022-12-31849,008
Number of terminated vested participants2022-12-3140
Fundng target for terminated vested participants2022-12-31787,686
Active participant vested funding target2022-12-312,201,631
Number of active participants2022-12-3144
Total funding liabilities for active participants2022-12-312,322,793
Total participant count2022-12-3187
Total funding target for all participants2022-12-313,959,487
Balance at beginning of prior year after applicable adjustments2022-12-31119,918
Prefunding balance at beginning of prior year after applicable adjustments2022-12-310
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 balance2022-12-31119,918
Amount remaining of prefunding balance2022-12-310
Present value of excess contributions2022-12-311,352,854
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-311,427,126
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 year2022-12-31128,888
Balance of prefunding at beginning of current year2022-12-310
Total employer contributions2022-12-31900,000
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 date2022-12-31882,816
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 cost2022-12-31210,020
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 year2022-12-31882,816
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: FIRST FINANCIAL FCU CASH BALANCE DEFINED BENEFIT PLAN AND TRUST 2021 401k membership
Market value of plan assets2021-12-317,312,697
Acturial value of plan assets2021-12-317,312,697
Funding target for retired participants and beneficiaries receiving payment2021-12-31876,041
Number of terminated vested participants2021-12-3142
Fundng target for terminated vested participants2021-12-311,676,009
Active participant vested funding target2021-12-311,869,692
Number of active participants2021-12-3145
Total funding liabilities for active participants2021-12-311,978,470
Total participant count2021-12-3190
Total funding target for all participants2021-12-314,530,520
Balance at beginning of prior year after applicable adjustments2021-12-31117,062
Prefunding balance at beginning of prior year after applicable adjustments2021-12-310
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 balance2021-12-31117,062
Amount remaining of prefunding balance2021-12-310
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 year2021-12-31119,918
Balance of prefunding at beginning of current year2021-12-310
Total employer contributions2021-12-311,400,000
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 date2021-12-311,352,854
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 cost2021-12-31159,632
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-310
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-310
Contributions allocatedtoward minimum required contributions for current year2021-12-311,352,854
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: FIRST FINANCIAL FCU CASH BALANCE DEFINED BENEFIT PLAN AND TRUST 2020 401k membership
Market value of plan assets2020-12-317,285,734
Acturial value of plan assets2020-12-317,285,734
Funding target for retired participants and beneficiaries receiving payment2020-12-31928,288
Number of terminated vested participants2020-12-3134
Fundng target for terminated vested participants2020-12-311,530,476
Active participant vested funding target2020-12-311,813,813
Number of active participants2020-12-3155
Total funding liabilities for active participants2020-12-311,905,195
Total participant count2020-12-3192
Total funding target for all participants2020-12-314,363,959
Balance at beginning of prior year after applicable adjustments2020-12-31101,142
Prefunding balance at beginning of prior year after applicable adjustments2020-12-310
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 balance2020-12-31101,142
Amount remaining of prefunding balance2020-12-310
Present value of excess contributions2020-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-310
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 year2020-12-31117,062
Balance of prefunding at beginning of current year2020-12-310
Total employer contributions2020-12-310
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 date2020-12-310
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 cost2020-12-31165,677
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-310
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-310
Contributions allocatedtoward minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: FIRST FINANCIAL FCU CASH BALANCE DEFINED BENEFIT PLAN AND TRUST 2019 401k membership
Market value of plan assets2019-12-316,434,097
Acturial value of plan assets2019-12-316,434,097
Funding target for retired participants and beneficiaries receiving payment2019-12-31951,024
Number of terminated vested participants2019-12-3133
Fundng target for terminated vested participants2019-12-311,425,754
Active participant vested funding target2019-12-311,565,039
Number of active participants2019-12-3152
Total funding liabilities for active participants2019-12-311,641,611
Total participant count2019-12-3188
Total funding target for all participants2019-12-314,018,389
Balance at beginning of prior year after applicable adjustments2019-12-31108,069
Prefunding balance at beginning of prior year after applicable adjustments2019-12-310
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 balance2019-12-31108,069
Amount remaining of prefunding balance2019-12-310
Present value of excess contributions2019-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-310
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 elections2019-12-310
Balance of carryovers at beginning of current year2019-12-31101,142
Balance of prefunding at beginning of current year2019-12-310
Total employer contributions2019-12-310
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 date2019-12-310
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 cost2019-12-31117,122
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-310
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-310
Contributions allocatedtoward minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: FIRST FINANCIAL FCU CASH BALANCE DEFINED BENEFIT PLAN AND TRUST 2018 401k membership
Market value of plan assets2018-12-317,010,867
Acturial value of plan assets2018-12-317,010,867
Funding target for retired participants and beneficiaries receiving payment2018-12-31936,472
Number of terminated vested participants2018-12-3134
Fundng target for terminated vested participants2018-12-311,362,147
Active participant vested funding target2018-12-311,314,153
Number of active participants2018-12-3158
Total funding liabilities for active participants2018-12-311,447,167
Total participant count2018-12-3195
Total funding target for all participants2018-12-313,745,786
Balance at beginning of prior year after applicable adjustments2018-12-3193,051
Prefunding balance at beginning of prior year after applicable adjustments2018-12-310
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 balance2018-12-3193,051
Amount remaining of prefunding balance2018-12-310
Present value of excess contributions2018-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-310
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 year2018-12-31108,069
Balance of prefunding at beginning of current year2018-12-310
Total employer contributions2018-12-310
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 date2018-12-310
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 cost2018-12-31120,568
Net shortfall amortization installment of oustanding balance2018-12-310
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-310
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-310
Contributions allocatedtoward minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: FIRST FINANCIAL FCU CASH BALANCE DEFINED BENEFIT PLAN AND TRUST 2017 401k membership
Market value of plan assets2017-12-316,483,852
Acturial value of plan assets2017-12-316,483,852
Funding target for retired participants and beneficiaries receiving payment2017-12-31951,013
Number of terminated vested participants2017-12-3126
Fundng target for terminated vested participants2017-12-311,532,503
Active participant vested funding target2017-12-311,110,716
Number of active participants2017-12-3158
Total funding liabilities for active participants2017-12-311,185,981
Total participant count2017-12-3187
Total funding target for all participants2017-12-313,669,497
Balance at beginning of prior year after applicable adjustments2017-12-3182,019
Prefunding balance at beginning of prior year after applicable adjustments2017-12-310
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 balance2017-12-3182,019
Amount remaining of prefunding balance2017-12-310
Present value of excess contributions2017-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-310
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 year2017-12-3193,051
Balance of prefunding at beginning of current year2017-12-310
Total employer contributions2017-12-310
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 date2017-12-310
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 cost2017-12-31109,948
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-310
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-310
Contributions allocatedtoward minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: FIRST FINANCIAL FCU CASH BALANCE DEFINED BENEFIT PLAN AND TRUST 2016 401k membership
Market value of plan assets2016-12-316,158,364
Acturial value of plan assets2016-12-316,158,364
Funding target for retired participants and beneficiaries receiving payment2016-12-31963,786
Number of terminated vested participants2016-12-3117
Fundng target for terminated vested participants2016-12-311,066,592
Active participant vested funding target2016-12-311,372,266
Number of active participants2016-12-3168
Total funding liabilities for active participants2016-12-311,403,881
Total participant count2016-12-3188
Total funding target for all participants2016-12-313,434,259
Balance at beginning of prior year after applicable adjustments2016-12-3183,864
Prefunding balance at beginning of prior year after applicable adjustments2016-12-310
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 balance2016-12-3183,864
Amount remaining of prefunding balance2016-12-310
Present value of excess contributions2016-12-31470,092
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-31498,862
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 year2016-12-3182,019
Balance of prefunding at beginning of current year2016-12-310
Total employer contributions2016-12-310
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 date2016-12-310
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 cost2016-12-31187,084
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-310
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-310
Contributions allocatedtoward minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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