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RETIREMENT PLAN FOR EMPLOYEES OF GBU FINANCIAL LIFE 401k Plan overview

Plan NameRETIREMENT PLAN FOR EMPLOYEES OF GBU FINANCIAL LIFE
Plan identification number 001

RETIREMENT PLAN FOR EMPLOYEES OF GBU FINANCIAL LIFE 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).
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • 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

GBU FINANCIAL LIFE has sponsored the creation of one or more 401k plans.

Company Name:GBU FINANCIAL LIFE
Employer identification number (EIN):250502660
NAIC Classification:813000
NAIC Description: Religious, Grantmaking, Civic, Professional, and Similar Organizations

Form 5500 Filing Information

Submission information for form 5500 for 401k plan RETIREMENT PLAN FOR EMPLOYEES OF GBU FINANCIAL LIFE

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01KRISTEN ABELS2023-07-13
0012021-07-01
0012021-01-01MICHAEL TIBOLET2022-06-28
0012020-07-01
0012020-01-01MICHAEL TIBOLET2021-10-08
0012019-07-01
0012019-01-01MICHAEL TIBOLET2020-10-12
0012018-07-01
0012018-01-01MICHAEL TIBOLET2019-08-20
0012017-07-01
0012017-01-01MICHAEL TIBOLET2018-07-26
0012016-07-01
0012015-07-01
0012014-07-01
0012013-07-01
0012012-07-01JAMES STOKER2015-03-27 JAMES STOKER2015-03-27
0012011-07-01JAMES STOKER2013-04-11 JAMES STOKER2013-04-11
0012010-07-01JAMES STOKER2012-03-21 JAMES STOKER2012-03-21

Plan Statistics for RETIREMENT PLAN FOR EMPLOYEES OF GBU FINANCIAL LIFE

401k plan membership statisitcs for RETIREMENT PLAN FOR EMPLOYEES OF GBU FINANCIAL LIFE

Measure Date Value
2022: RETIREMENT PLAN FOR EMPLOYEES OF GBU FINANCIAL LIFE 2022 401k membership
Market value of plan assets2022-06-3011,983,670
Acturial value of plan assets2022-06-3011,983,670
Funding target for retired participants and beneficiaries receiving payment2022-06-302,348,490
Number of terminated vested participants2022-06-3013
Fundng target for terminated vested participants2022-06-30542,539
Active participant vested funding target2022-06-305,800,067
Number of active participants2022-06-3042
Total funding liabilities for active participants2022-06-306,000,109
Total participant count2022-06-3079
Total funding target for all participants2022-06-308,891,138
Balance at beginning of prior year after applicable adjustments2022-06-30145,948
Prefunding balance at beginning of prior year after applicable adjustments2022-06-30218,172
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 balance2022-06-30145,948
Amount remaining of prefunding balance2022-06-30218,172
Present value of excess contributions2022-06-30175,733
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-06-30185,223
Total available prior years excess cotributions added 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 year2022-06-30152,866
Balance of prefunding at beginning of current year2022-06-30228,513
Total employer contributions2022-06-30675,000
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 date2022-06-30656,432
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 cost2022-06-30323,790
Net shortfall amortization installment of oustanding balance2022-06-300
Waiver amortization installment2022-06-300
Total funding amount beforereflecting carryover/prefunding balances2022-06-300
Carryover balance elected to use to offset funding requirement2022-06-300
Prefunding balance elected to use to offset funding requirement2022-06-300
Additional cash requirement2022-06-300
Contributions allocatedtoward minimum required contributions for current year2022-06-30656,432
Unpaid minimum required contributions for current year2022-06-300
Unpaid minimum required contributions for all years2022-06-300
2021: RETIREMENT PLAN FOR EMPLOYEES OF GBU FINANCIAL LIFE 2021 401k membership
Market value of plan assets2021-06-3012,836,369
Acturial value of plan assets2021-06-3012,836,369
Funding target for retired participants and beneficiaries receiving payment2021-06-302,451,684
Number of terminated vested participants2021-06-3015
Fundng target for terminated vested participants2021-06-30907,372
Active participant vested funding target2021-06-306,042,527
Number of active participants2021-06-3038
Total funding liabilities for active participants2021-06-306,211,907
Total participant count2021-06-3077
Total funding target for all participants2021-06-309,570,963
Balance at beginning of prior year after applicable adjustments2021-06-30138,839
Prefunding balance at beginning of prior year after applicable adjustments2021-06-30207,546
Carryover balanced portion elected for use to offset prior years funding requirement2021-06-300
Prefunding balanced used to offset prior years funding requirement2021-06-300
Amount remaining of carryover balance2021-06-30138,839
Amount remaining of prefunding balance2021-06-30207,546
Present value of excess contributions2021-06-30136,507
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-06-30144,097
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-06-300
Reductions in caryover balances due to elections or deemed elections2021-06-300
Reductions in prefunding balances due to elections or deemed elections2021-06-300
Balance of carryovers at beginning of current year2021-06-30145,948
Balance of prefunding at beginning of current year2021-06-30218,172
Total employer contributions2021-06-30180,000
Total employee contributions2021-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2021-06-300
Contributions made to avoid restrictions adjusted to valuation date2021-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-06-30175,733
Unpaid minimum required contributions for all prior years2021-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-06-300
Remaining amount of unpaid minimum required contributions2021-06-300
Minimum required contributions for current year target normal cost2021-06-30285,176
Net shortfall amortization installment of oustanding balance2021-06-300
Waiver amortization installment2021-06-300
Total funding amount beforereflecting carryover/prefunding balances2021-06-300
Carryover balance elected to use to offset funding requirement2021-06-300
Prefunding balance elected to use to offset funding requirement2021-06-300
Additional cash requirement2021-06-300
Contributions allocatedtoward minimum required contributions for current year2021-06-30175,733
Unpaid minimum required contributions for current year2021-06-300
Unpaid minimum required contributions for all years2021-06-300
2020: RETIREMENT PLAN FOR EMPLOYEES OF GBU FINANCIAL LIFE 2020 401k membership
Market value of plan assets2020-06-3012,415,119
Acturial value of plan assets2020-06-3012,415,119
Funding target for retired participants and beneficiaries receiving payment2020-06-302,602,866
Number of terminated vested participants2020-06-3015
Fundng target for terminated vested participants2020-06-30908,633
Active participant vested funding target2020-06-305,431,561
Number of active participants2020-06-3028
Total funding liabilities for active participants2020-06-305,479,928
Total participant count2020-06-3068
Total funding target for all participants2020-06-308,991,427
Balance at beginning of prior year after applicable adjustments2020-06-30131,801
Prefunding balance at beginning of prior year after applicable adjustments2020-06-30197,025
Amount remaining of carryover balance2020-06-30131,801
Amount remaining of prefunding balance2020-06-30197,025
Present value of excess contributions2020-06-30342,331
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-06-30362,015
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-06-300
Reductions in caryover balances due to elections or deemed elections2020-06-300
Reductions in prefunding balances due to elections or deemed elections2020-06-300
Balance of carryovers at beginning of current year2020-06-30138,839
Balance of prefunding at beginning of current year2020-06-30207,546
Total employer contributions2020-06-30140,000
Total employee contributions2020-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2020-06-300
Contributions made to avoid restrictions adjusted to valuation date2020-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-06-30136,507
Unpaid minimum required contributions for all prior years2020-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-06-300
Remaining amount of unpaid minimum required contributions2020-06-300
Minimum required contributions for current year target normal cost2020-06-30143,781
Net shortfall amortization installment of oustanding balance2020-06-300
Waiver amortization installment2020-06-300
Total funding amount beforereflecting carryover/prefunding balances2020-06-300
Carryover balance elected to use to offset funding requirement2020-06-300
Prefunding balance elected to use to offset funding requirement2020-06-300
Additional cash requirement2020-06-300
Contributions allocatedtoward minimum required contributions for current year2020-06-30136,507
Unpaid minimum required contributions for current year2020-06-300
Unpaid minimum required contributions for all years2020-06-300
2019: RETIREMENT PLAN FOR EMPLOYEES OF GBU FINANCIAL LIFE 2019 401k membership
Market value of plan assets2019-06-3012,161,584
Acturial value of plan assets2019-06-3012,161,584
Funding target for retired participants and beneficiaries receiving payment2019-06-302,292,383
Number of terminated vested participants2019-06-3016
Fundng target for terminated vested participants2019-06-301,204,365
Active participant vested funding target2019-06-305,205,708
Number of active participants2019-06-3024
Total funding liabilities for active participants2019-06-305,222,084
Total participant count2019-06-3064
Total funding target for all participants2019-06-308,718,832
Balance at beginning of prior year after applicable adjustments2019-06-30124,587
Prefunding balance at beginning of prior year after applicable adjustments2019-06-30186,242
Carryover balanced portion elected for use to offset prior years funding requirement2019-06-300
Prefunding balanced used to offset prior years funding requirement2019-06-300
Amount remaining of carryover balance2019-06-30124,587
Amount remaining of prefunding balance2019-06-30186,242
Present value of excess contributions2019-06-301,064,706
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-06-301,127,843
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-06-300
Reductions in caryover balances due to elections or deemed elections2019-06-300
Reductions in prefunding balances due to elections or deemed elections2019-06-300
Balance of carryovers at beginning of current year2019-06-30131,801
Balance of prefunding at beginning of current year2019-06-30197,025
Total employer contributions2019-06-30350,000
Total employee contributions2019-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2019-06-300
Contributions made to avoid restrictions adjusted to valuation date2019-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-06-30342,331
Unpaid minimum required contributions for all prior years2019-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-06-300
Remaining amount of unpaid minimum required contributions2019-06-300
Minimum required contributions for current year target normal cost2019-06-30103,016
Net shortfall amortization installment of oustanding balance2019-06-300
Waiver amortization installment2019-06-300
Total funding amount beforereflecting carryover/prefunding balances2019-06-300
Additional cash requirement2019-06-300
Contributions allocatedtoward minimum required contributions for current year2019-06-30342,331
Unpaid minimum required contributions for current year2019-06-300
Unpaid minimum required contributions for all years2019-06-300
2018: RETIREMENT PLAN FOR EMPLOYEES OF GBU FINANCIAL LIFE 2018 401k membership
Market value of plan assets2018-06-3012,986,982
Acturial value of plan assets2018-06-3012,986,982
Funding target for retired participants and beneficiaries receiving payment2018-06-302,246,757
Number of terminated vested participants2018-06-3015
Fundng target for terminated vested participants2018-06-30704,100
Active participant vested funding target2018-06-306,690,804
Number of active participants2018-06-3029
Total funding liabilities for active participants2018-06-306,706,857
Total participant count2018-06-3068
Total funding target for all participants2018-06-309,657,714
Balance at beginning of prior year after applicable adjustments2018-06-30117,947
Prefunding balance at beginning of prior year after applicable adjustments2018-06-30176,315
Carryover balanced portion elected for use to offset prior years funding requirement2018-06-300
Prefunding balanced used to offset prior years funding requirement2018-06-300
Amount remaining of carryover balance2018-06-30117,947
Amount remaining of prefunding balance2018-06-30176,315
Present value of excess contributions2018-06-30578,191
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-06-30613,634
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-06-300
Reductions in caryover balances due to elections or deemed elections2018-06-300
Reductions in prefunding balances due to elections or deemed elections2018-06-300
Balance of carryovers at beginning of current year2018-06-30124,587
Balance of prefunding at beginning of current year2018-06-30186,242
Total employer contributions2018-06-301,100,000
Total employee contributions2018-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2018-06-300
Contributions made to avoid restrictions adjusted to valuation date2018-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-06-301,061,257
Unpaid minimum required contributions for all prior years2018-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-06-300
Remaining amount of unpaid minimum required contributions2018-06-300
Minimum required contributions for current year target normal cost2018-06-30140,133
Net shortfall amortization installment of oustanding balance2018-06-300
Waiver amortization installment2018-06-300
Total funding amount beforereflecting carryover/prefunding balances2018-06-300
Carryover balance elected to use to offset funding requirement2018-06-300
Prefunding balance elected to use to offset funding requirement2018-06-300
Additional cash requirement2018-06-300
Contributions allocatedtoward minimum required contributions for current year2018-06-301,061,257
Unpaid minimum required contributions for current year2018-06-300
Unpaid minimum required contributions for all years2018-06-300
2017: RETIREMENT PLAN FOR EMPLOYEES OF GBU FINANCIAL LIFE 2017 401k membership
Market value of plan assets2017-06-3012,011,903
Acturial value of plan assets2017-06-3012,011,903
Funding target for retired participants and beneficiaries receiving payment2017-06-302,544,075
Number of terminated vested participants2017-06-3017
Fundng target for terminated vested participants2017-06-30699,516
Active participant vested funding target2017-06-306,203,900
Number of active participants2017-06-3028
Total funding liabilities for active participants2017-06-306,234,735
Total participant count2017-06-3069
Total funding target for all participants2017-06-309,478,326
Balance at beginning of prior year after applicable adjustments2017-06-30111,735
Prefunding balance at beginning of prior year after applicable adjustments2017-06-30167,028
Carryover balanced portion elected for use to offset prior years funding requirement2017-06-300
Prefunding balanced used to offset prior years funding requirement2017-06-300
Amount remaining of carryover balance2017-06-30111,735
Amount remaining of prefunding balance2017-06-30167,028
Present value of excess contributions2017-06-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-06-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-06-300
Reductions in caryover balances due to elections or deemed elections2017-06-300
Reductions in prefunding balances due to elections or deemed elections2017-06-300
Balance of carryovers at beginning of current year2017-06-30117,947
Balance of prefunding at beginning of current year2017-06-30176,315
Total employer contributions2017-06-30600,000
Total employee contributions2017-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2017-06-300
Contributions made to avoid restrictions adjusted to valuation date2017-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-06-30578,191
Unpaid minimum required contributions for all prior years2017-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-06-300
Remaining amount of unpaid minimum required contributions2017-06-300
Minimum required contributions for current year target normal cost2017-06-3094,565
Net shortfall amortization installment of oustanding balance2017-06-300
Waiver amortization installment2017-06-300
Waived amount of outstanding balance2017-06-300
Total funding amount beforereflecting carryover/prefunding balances2017-06-300
Carryover balance elected to use to offset funding requirement2017-06-300
Prefunding balance elected to use to offset funding requirement2017-06-300
Additional cash requirement2017-06-300
Contributions allocatedtoward minimum required contributions for current year2017-06-30578,191
Unpaid minimum required contributions for current year2017-06-300
Unpaid minimum required contributions for all years2017-06-300

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