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THE RETIREMENT PLAN OF GSL SAVINGS BANK, SLA 401k Plan overview

Plan NameTHE RETIREMENT PLAN OF GSL SAVINGS BANK, SLA
Plan identification number 001

THE RETIREMENT PLAN OF GSL SAVINGS BANK, SLA 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.

401k Sponsoring company profile

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

Company Name:GSL SAVINGS BANK
Employer identification number (EIN):220969510
NAIC Classification:522120
NAIC Description:Savings Institutions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE RETIREMENT PLAN OF GSL SAVINGS BANK, SLA

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012017-01-01NICHOLAS TEDESCO2017-10-24
0012016-01-01NICHOLAS TEDESCO2017-07-18
0012015-01-01
0012014-01-01
0012013-01-01
0012012-01-01NICHOLAS TEDESCO2013-06-04 NICHOLAS TEDESCO2013-06-04
0012011-01-01NICHOLAS TEDESCO2012-06-22 NICHOLAS TEDESCO2012-06-22
0012010-01-01NICHOLAS TEDESCO2011-09-29

Plan Statistics for THE RETIREMENT PLAN OF GSL SAVINGS BANK, SLA

401k plan membership statisitcs for THE RETIREMENT PLAN OF GSL SAVINGS BANK, SLA

Measure Date Value
2017: THE RETIREMENT PLAN OF GSL SAVINGS BANK, SLA 2017 401k membership
Market value of plan assets2017-07-263,464,867
Acturial value of plan assets2017-07-263,464,867
Funding target for retired participants and beneficiaries receiving payment2017-07-26254,117
Number of terminated vested participants2017-07-263
Fundng target for terminated vested participants2017-07-26617,380
Active participant vested funding target2017-07-261,639,538
Number of active participants2017-07-2614
Total funding liabilities for active participants2017-07-261,653,943
Total participant count2017-07-2618
Total funding target for all participants2017-07-262,525,440
Balance at beginning of prior year after applicable adjustments2017-07-26207,853
Prefunding balance at beginning of prior year after applicable adjustments2017-07-26511,282
Carryover balanced portion elected for use to offset prior years funding requirement2017-07-260
Prefunding balanced used to offset prior years funding requirement2017-07-260
Amount remaining of carryover balance2017-07-26207,853
Amount remaining of prefunding balance2017-07-26511,282
Present value of excess contributions2017-07-26184,817
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-07-26196,294
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-07-260
Reductions in caryover balances due to elections or deemed elections2017-07-260
Reductions in prefunding balances due to elections or deemed elections2017-07-260
Balance of carryovers at beginning of current year2017-07-26223,026
Balance of prefunding at beginning of current year2017-07-26548,606
Total employer contributions2017-07-26338,489
Total employee contributions2017-07-260
Contributions allocated toward unpaid minimum require contributions from prior years2017-07-260
Contributions made to avoid restrictions adjusted to valuation date2017-07-260
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-07-26327,609
Unpaid minimum required contributions for all prior years2017-07-260
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-07-260
Remaining amount of unpaid minimum required contributions2017-07-260
Minimum required contributions for current year target normal cost2017-07-260
Net shortfall amortization installment of oustanding balance2017-07-260
Waiver amortization installment2017-07-260
Total funding amount beforereflecting carryover/prefunding balances2017-07-260
Carryover balance elected to use to offset funding requirement2017-07-260
Prefunding balance elected to use to offset funding requirement2017-07-260
Additional cash requirement2017-07-260
Contributions allocatedtoward minimum required contributions for current year2017-07-26327,609
Unpaid minimum required contributions for current year2017-07-260
Unpaid minimum required contributions for all years2017-07-260
2016: THE RETIREMENT PLAN OF GSL SAVINGS BANK, SLA 2016 401k membership
Market value of plan assets2016-12-313,476,007
Acturial value of plan assets2016-12-313,476,007
Funding target for retired participants and beneficiaries receiving payment2016-12-31257,449
Number of terminated vested participants2016-12-313
Fundng target for terminated vested participants2016-12-31117,246
Active participant vested funding target2016-12-312,173,229
Number of active participants2016-12-3114
Total funding liabilities for active participants2016-12-312,175,567
Total participant count2016-12-3118
Total funding target for all participants2016-12-312,550,262
Balance at beginning of prior year after applicable adjustments2016-12-31194,019
Prefunding balance at beginning of prior year after applicable adjustments2016-12-31477,254
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 balance2016-12-31194,019
Amount remaining of prefunding balance2016-12-31477,254
Present value of excess contributions2016-12-31184,843
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-31196,636
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 year2016-12-31207,853
Balance of prefunding at beginning of current year2016-12-31511,282
Total employer contributions2016-12-31185,000
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 date2016-12-31184,817
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 cost2016-12-3190,539
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
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 year2016-12-31184,817
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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