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RETIREMENT PLAN FOR EMPLOYEES OF FIRST NATIONAL BANK OF PORT ALLEGANY 401k Plan overview

Plan NameRETIREMENT PLAN FOR EMPLOYEES OF FIRST NATIONAL BANK OF PORT ALLEGANY
Plan identification number 001

RETIREMENT PLAN FOR EMPLOYEES OF FIRST NATIONAL BANK OF PORT ALLEGANY 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

THE FIRST NATIONAL BANK OF PORT ALLEGANY has sponsored the creation of one or more 401k plans.

Company Name:THE FIRST NATIONAL BANK OF PORT ALLEGANY
Employer identification number (EIN):250735936
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan RETIREMENT PLAN FOR EMPLOYEES OF FIRST NATIONAL BANK OF PORT ALLEGANY

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012016-01-01TINA J SMITH2017-07-14
0012015-01-01TINA J SMITH2016-05-20
0012014-01-01R KEITH FORTNER2015-04-14
0012013-01-01R KEITH FORTNER2014-06-27
0012012-01-01R KEITH FORTNER2013-05-21
0012011-01-01R KEITH FORTNER2012-05-10
0012010-01-01R KEITH FORTNER2011-04-28

Plan Statistics for RETIREMENT PLAN FOR EMPLOYEES OF FIRST NATIONAL BANK OF PORT ALLEGANY

401k plan membership statisitcs for RETIREMENT PLAN FOR EMPLOYEES OF FIRST NATIONAL BANK OF PORT ALLEGANY

Measure Date Value
2016: RETIREMENT PLAN FOR EMPLOYEES OF FIRST NATIONAL BANK OF PORT ALLEGANY 2016 401k membership
Market value of plan assets2016-12-313,903,490
Acturial value of plan assets2016-12-314,229,032
Funding target for retired participants and beneficiaries receiving payment2016-12-311,830,065
Number of terminated vested participants2016-12-3111
Fundng target for terminated vested participants2016-12-31706,475
Active participant vested funding target2016-12-311,157,032
Number of active participants2016-12-3115
Total funding liabilities for active participants2016-12-311,157,032
Total participant count2016-12-3139
Total funding target for all participants2016-12-313,693,572
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-31721,286
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 balance2016-12-310
Amount remaining of prefunding balance2016-12-31721,286
Present value of excess contributions2016-12-312,855
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-313,035
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 elections2016-12-31163,178
Balance of carryovers at beginning of current year2016-12-310
Balance of prefunding at beginning of current year2016-12-31535,460
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 cost2016-12-310
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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