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FIRST NATIONAL BANK OF FREDERICKSBURG PENSION PLAN 401k Plan overview

Plan NameFIRST NATIONAL BANK OF FREDERICKSBURG PENSION PLAN
Plan identification number 004

FIRST NATIONAL BANK OF FREDERICKSBURG PENSION PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Plan covered by PBGC that was terminated and closed out for PBGC purposes - Before the end of the plan year (or a prior plan year), (1) the plan terminated in a standard (or distress) termination and completed the distribution of plan assets in satisfaction of all benefit liabilities (or all ERISA Title IV benefits for distress termination); or (2) a trustee was appointed for a terminated plan pursuant to ERISA section 4042.
  • 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

FIRST CITIZENS COMMUNITY BANK has sponsored the creation of one or more 401k plans.

Company Name:FIRST CITIZENS COMMUNITY BANK
Employer identification number (EIN):240652238
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FIRST NATIONAL BANK OF FREDERICKSBURG PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0042019-01-01STEPHEN GUILLAUME2020-06-02
0042018-01-01MICKEY JONES2019-10-07 MICKEY JONES2019-10-07
0042017-01-01MICKEY JONES2018-10-11 MICKEY JONES2018-10-11
0042016-01-01MICKEY JONES2017-07-28
0042015-01-01MICKEY JONES2016-10-17

Plan Statistics for FIRST NATIONAL BANK OF FREDERICKSBURG PENSION PLAN

401k plan membership statisitcs for FIRST NATIONAL BANK OF FREDERICKSBURG PENSION PLAN

Measure Date Value
2018: FIRST NATIONAL BANK OF FREDERICKSBURG PENSION PLAN 2018 401k membership
Market value of plan assets2018-12-316,419,410
Acturial value of plan assets2018-12-316,419,410
Funding target for retired participants and beneficiaries receiving payment2018-12-312,861,050
Number of terminated vested participants2018-12-3134
Fundng target for terminated vested participants2018-12-31974,110
Active participant vested funding target2018-12-311,267,867
Number of active participants2018-12-3122
Total funding liabilities for active participants2018-12-311,267,867
Total participant count2018-12-3192
Total funding target for all participants2018-12-315,103,027
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-31539,338
Carryover balanced portion elected for use to offset prior years funding requirement2018-12-310
Prefunding balanced used to offset prior years funding requirement2018-12-31134,467
Amount remaining of carryover balance2018-12-310
Amount remaining of prefunding balance2018-12-31404,871
Present value of excess contributions2018-12-311,628,761
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-311,734,281
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-311,734,281
Reductions in caryover balances due to elections or deemed elections2018-12-310
Reductions in prefunding balances due to elections or deemed elections2018-12-31871,880
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-311,316,383
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 cost2018-12-310
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 NATIONAL BANK OF FREDERICKSBURG PENSION PLAN 2017 401k membership
Market value of plan assets2017-12-314,350,745
Acturial value of plan assets2017-12-314,350,745
Funding target for retired participants and beneficiaries receiving payment2017-12-312,606,083
Number of terminated vested participants2017-12-3132
Fundng target for terminated vested participants2017-12-31851,254
Active participant vested funding target2017-12-311,306,921
Number of active participants2017-12-3128
Total funding liabilities for active participants2017-12-311,306,921
Total participant count2017-12-3193
Total funding target for all participants2017-12-314,764,258
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-31366,007
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 balance2017-12-31366,007
Present value of excess contributions2017-12-31159,684
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-31169,537
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-12-31169,537
Reductions in caryover balances due to elections or deemed elections2017-12-310
Reductions in prefunding balances due to elections or deemed elections2017-12-315,869
Balance of carryovers at beginning of current year2017-12-310
Balance of prefunding at beginning of current year2017-12-31539,338
Total employer contributions2017-12-311,800,000
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 date2017-12-311,699,823
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 balance2017-12-31952,851
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31205,529
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-31134,467
Additional cash requirement2017-12-3171,062
Contributions allocatedtoward minimum required contributions for current year2017-12-311,699,823
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: FIRST NATIONAL BANK OF FREDERICKSBURG PENSION PLAN 2016 401k membership
Market value of plan assets2016-12-314,094,725
Acturial value of plan assets2016-12-314,094,725
Funding target for retired participants and beneficiaries receiving payment2016-12-312,186,923
Number of terminated vested participants2016-12-3130
Fundng target for terminated vested participants2016-12-31747,827
Active participant vested funding target2016-12-311,623,962
Number of active participants2016-12-3135
Total funding liabilities for active participants2016-12-311,623,962
Total participant count2016-12-3193
Total funding target for all participants2016-12-314,558,712
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-31389,869
Carryover balanced portion elected for use to offset prior years funding requirement2016-12-310
Prefunding balanced used to offset prior years funding requirement2016-12-3118,552
Amount remaining of carryover balance2016-12-310
Amount remaining of prefunding balance2016-12-31371,317
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 year2016-12-31366,007
Total employer contributions2016-12-31358,972
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 date2016-12-31344,483
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 cost2016-12-3120,000
Net shortfall amortization installment of oustanding balance2016-12-31829,994
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-31184,799
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-31184,799
Contributions allocatedtoward minimum required contributions for current year2016-12-31344,483
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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