SANFORD INSURANCE GROUP has sponsored the creation of one or more 401k plans.
Submission information for form 5500 for 401k plan SANFORD INSURANCE GROUP CASH BALANCE PLAN
Measure | Date | Value |
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2022: SANFORD INSURANCE GROUP CASH BALANCE PLAN 2022 401k membership |
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Market value of plan assets | 2022-12-31 | 1,843,257 |
Acturial value of plan assets | 2022-12-31 | 1,843,257 |
Funding target for retired participants and beneficiaries receiving payment | 2022-12-31 | 0 |
Number of terminated vested participants | 2022-12-31 | 4 |
Fundng target for terminated vested participants | 2022-12-31 | 28,133 |
Active participant vested funding target | 2022-12-31 | 1,152,774 |
Number of active participants | 2022-12-31 | 15 |
Total funding liabilities for active participants | 2022-12-31 | 1,157,642 |
Total participant count | 2022-12-31 | 19 |
Total funding target for all participants | 2022-12-31 | 1,185,775 |
Balance at beginning of prior year after applicable adjustments | 2022-12-31 | 0 |
Prefunding balance at beginning of prior year after applicable adjustments | 2022-12-31 | 541,045 |
Carryover balanced portion elected for use to offset prior years funding requirement | 2022-12-31 | 0 |
Prefunding balanced used to offset prior years funding requirement | 2022-12-31 | 68,805 |
Amount remaining of carryover balance | 2022-12-31 | 0 |
Amount remaining of prefunding balance | 2022-12-31 | 472,240 |
Present value of excess contributions | 2022-12-31 | 0 |
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance | 2022-12-31 | 0 |
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance | 2022-12-31 | 0 |
Reductions in caryover balances due to elections or deemed elections | 2022-12-31 | 0 |
Reductions in prefunding balances due to elections or deemed elections | 2022-12-31 | 0 |
Balance of carryovers at beginning of current year | 2022-12-31 | 0 |
Balance of prefunding at beginning of current year | 2022-12-31 | 528,578 |
Total employer contributions | 2022-12-31 | 13,750 |
Total employee contributions | 2022-12-31 | 0 |
Contributions allocated toward unpaid minimum require contributions from prior years | 2022-12-31 | 0 |
Contributions made to avoid restrictions adjusted to valuation date | 2022-12-31 | 0 |
Contributions allocated toward minimum required contributions for current year adjusted to valuation date | 2022-12-31 | 13,550 |
Unpaid minimum required contributions for all prior years | 2022-12-31 | 0 |
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years | 2022-12-31 | 0 |
Remaining amount of unpaid minimum required contributions | 2022-12-31 | 0 |
Minimum required contributions for current year target normal cost | 2022-12-31 | 99,756 |
Net shortfall amortization installment of oustanding balance | 2022-12-31 | 0 |
Waiver amortization installment | 2022-12-31 | 0 |
Total funding amount beforereflecting carryover/prefunding balances | 2022-12-31 | 0 |
Carryover balance elected to use to offset funding requirement | 2022-12-31 | 0 |
Prefunding balance elected to use to offset funding requirement | 2022-12-31 | 0 |
Additional cash requirement | 2022-12-31 | 0 |
Contributions allocatedtoward minimum required contributions for current year | 2022-12-31 | 13,550 |
Unpaid minimum required contributions for current year | 2022-12-31 | 0 |
Unpaid minimum required contributions for all years | 2022-12-31 | 0 |
2021: SANFORD INSURANCE GROUP CASH BALANCE PLAN 2021 401k membership |
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Market value of plan assets | 2021-12-31 | 1,598,675 |
Acturial value of plan assets | 2021-12-31 | 1,598,675 |
Funding target for retired participants and beneficiaries receiving payment | 2021-12-31 | 0 |
Number of terminated vested participants | 2021-12-31 | 4 |
Fundng target for terminated vested participants | 2021-12-31 | 27,606 |
Active participant vested funding target | 2021-12-31 | 1,019,037 |
Number of active participants | 2021-12-31 | 14 |
Total funding liabilities for active participants | 2021-12-31 | 1,020,956 |
Total participant count | 2021-12-31 | 18 |
Total funding target for all participants | 2021-12-31 | 1,048,562 |
Balance at beginning of prior year after applicable adjustments | 2021-12-31 | 0 |
Prefunding balance at beginning of prior year after applicable adjustments | 2021-12-31 | 431,007 |
Carryover balanced portion elected for use to offset prior years funding requirement | 2021-12-31 | 0 |
Prefunding balanced used to offset prior years funding requirement | 2021-12-31 | 0 |
Amount remaining of carryover balance | 2021-12-31 | 0 |
Amount remaining of prefunding balance | 2021-12-31 | 431,007 |
Present value of excess contributions | 2021-12-31 | 57,627 |
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance | 2021-12-31 | 60,601 |
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance | 2021-12-31 | 60,601 |
Reductions in caryover balances due to elections or deemed elections | 2021-12-31 | 0 |
Reductions in prefunding balances due to elections or deemed elections | 2021-12-31 | 0 |
Balance of carryovers at beginning of current year | 2021-12-31 | 0 |
Balance of prefunding at beginning of current year | 2021-12-31 | 541,045 |
Total employer contributions | 2021-12-31 | 50,000 |
Total employee contributions | 2021-12-31 | 0 |
Contributions allocated toward unpaid minimum require contributions from prior years | 2021-12-31 | 0 |
Contributions made to avoid restrictions adjusted to valuation date | 2021-12-31 | 0 |
Contributions allocated toward minimum required contributions for current year adjusted to valuation date | 2021-12-31 | 48,291 |
Unpaid minimum required contributions for all prior years | 2021-12-31 | 0 |
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years | 2021-12-31 | 0 |
Remaining amount of unpaid minimum required contributions | 2021-12-31 | 0 |
Minimum required contributions for current year target normal cost | 2021-12-31 | 126,164 |
Net shortfall amortization installment of oustanding balance | 2021-12-31 | 0 |
Waiver amortization installment | 2021-12-31 | 0 |
Total funding amount beforereflecting carryover/prefunding balances | 2021-12-31 | 117,096 |
Carryover balance elected to use to offset funding requirement | 2021-12-31 | 0 |
Prefunding balance elected to use to offset funding requirement | 2021-12-31 | 68,805 |
Additional cash requirement | 2021-12-31 | 48,291 |
Contributions allocatedtoward minimum required contributions for current year | 2021-12-31 | 48,291 |
Unpaid minimum required contributions for current year | 2021-12-31 | 0 |
Unpaid minimum required contributions for all years | 2021-12-31 | 0 |
2020: SANFORD INSURANCE GROUP CASH BALANCE PLAN 2020 401k membership |
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Market value of plan assets | 2020-12-31 | 1,333,737 |
Acturial value of plan assets | 2020-12-31 | 1,333,737 |
Funding target for retired participants and beneficiaries receiving payment | 2020-12-31 | 0 |
Number of terminated vested participants | 2020-12-31 | 3 |
Fundng target for terminated vested participants | 2020-12-31 | 11,275 |
Active participant vested funding target | 2020-12-31 | 811,061 |
Number of active participants | 2020-12-31 | 14 |
Total funding liabilities for active participants | 2020-12-31 | 812,973 |
Total participant count | 2020-12-31 | 17 |
Total funding target for all participants | 2020-12-31 | 824,248 |
Balance at beginning of prior year after applicable adjustments | 2020-12-31 | 0 |
Prefunding balance at beginning of prior year after applicable adjustments | 2020-12-31 | 139,800 |
Amount remaining of carryover balance | 2020-12-31 | 0 |
Amount remaining of prefunding balance | 2020-12-31 | 139,800 |
Present value of excess contributions | 2020-12-31 | 257,999 |
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance | 2020-12-31 | 271,621 |
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance | 2020-12-31 | 271,621 |
Reductions in caryover balances due to elections or deemed elections | 2020-12-31 | 0 |
Reductions in prefunding balances due to elections or deemed elections | 2020-12-31 | 0 |
Balance of carryovers at beginning of current year | 2020-12-31 | 0 |
Balance of prefunding at beginning of current year | 2020-12-31 | 431,007 |
Total employer contributions | 2020-12-31 | 99,167 |
Total employee contributions | 2020-12-31 | 0 |
Contributions allocated toward unpaid minimum require contributions from prior years | 2020-12-31 | 0 |
Contributions made to avoid restrictions adjusted to valuation date | 2020-12-31 | 0 |
Contributions allocated toward minimum required contributions for current year adjusted to valuation date | 2020-12-31 | 94,089 |
Unpaid minimum required contributions for all prior years | 2020-12-31 | 0 |
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years | 2020-12-31 | 0 |
Remaining amount of unpaid minimum required contributions | 2020-12-31 | 0 |
Minimum required contributions for current year target normal cost | 2020-12-31 | 114,944 |
Net shortfall amortization installment of oustanding balance | 2020-12-31 | 0 |
Total funding amount beforereflecting carryover/prefunding balances | 2020-12-31 | 36,462 |
Additional cash requirement | 2020-12-31 | 36,462 |
Contributions allocatedtoward minimum required contributions for current year | 2020-12-31 | 94,089 |
Unpaid minimum required contributions for current year | 2020-12-31 | 0 |
Unpaid minimum required contributions for all years | 2020-12-31 | 0 |
2019: SANFORD INSURANCE GROUP CASH BALANCE PLAN 2019 401k membership |
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Market value of plan assets | 2019-12-31 | 798,791 |
Acturial value of plan assets | 2019-12-31 | 798,791 |
Funding target for retired participants and beneficiaries receiving payment | 2019-12-31 | 0 |
Number of terminated vested participants | 2019-12-31 | 3 |
Fundng target for terminated vested participants | 2019-12-31 | 10,500 |
Active participant vested funding target | 2019-12-31 | 645,474 |
Number of active participants | 2019-12-31 | 13 |
Total funding liabilities for active participants | 2019-12-31 | 648,399 |
Total participant count | 2019-12-31 | 16 |
Total funding target for all participants | 2019-12-31 | 658,899 |
Balance at beginning of prior year after applicable adjustments | 2019-12-31 | 0 |
Prefunding balance at beginning of prior year after applicable adjustments | 2019-12-31 | 218,892 |
Carryover balanced portion elected for use to offset prior years funding requirement | 2019-12-31 | 0 |
Prefunding balanced used to offset prior years funding requirement | 2019-12-31 | 0 |
Amount remaining of carryover balance | 2019-12-31 | 0 |
Amount remaining of prefunding balance | 2019-12-31 | 218,892 |
Present value of excess contributions | 2019-12-31 | 23,341 |
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance | 2019-12-31 | 24,608 |
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance | 2019-12-31 | 24,608 |
Reductions in caryover balances due to elections or deemed elections | 2019-12-31 | 0 |
Reductions in prefunding balances due to elections or deemed elections | 2019-12-31 | 85,116 |
Balance of carryovers at beginning of current year | 2019-12-31 | 0 |
Balance of prefunding at beginning of current year | 2019-12-31 | 139,800 |
Total employer contributions | 2019-12-31 | 401,000 |
Total employee contributions | 2019-12-31 | 0 |
Contributions allocated toward unpaid minimum require contributions from prior years | 2019-12-31 | 0 |
Contributions made to avoid restrictions adjusted to valuation date | 2019-12-31 | 0 |
Contributions allocated toward minimum required contributions for current year adjusted to valuation date | 2019-12-31 | 375,455 |
Unpaid minimum required contributions for all prior years | 2019-12-31 | 0 |
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years | 2019-12-31 | 0 |
Remaining amount of unpaid minimum required contributions | 2019-12-31 | 0 |
Minimum required contributions for current year target normal cost | 2019-12-31 | 117,548 |
Net shortfall amortization installment of oustanding balance | 2019-12-31 | 0 |
Waiver amortization installment | 2019-12-31 | 0 |
Total funding amount beforereflecting carryover/prefunding balances | 2019-12-31 | 117,456 |
Carryover balance elected to use to offset funding requirement | 2019-12-31 | 0 |
Prefunding balance elected to use to offset funding requirement | 2019-12-31 | 0 |
Additional cash requirement | 2019-12-31 | 117,456 |
Contributions allocatedtoward minimum required contributions for current year | 2019-12-31 | 375,455 |
Unpaid minimum required contributions for current year | 2019-12-31 | 0 |
Unpaid minimum required contributions for all years | 2019-12-31 | 0 |
2018: SANFORD INSURANCE GROUP CASH BALANCE PLAN 2018 401k membership |
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Market value of plan assets | 2018-12-31 | 742,781 |
Acturial value of plan assets | 2018-12-31 | 742,781 |
Funding target for retired participants and beneficiaries receiving payment | 2018-12-31 | 0 |
Number of terminated vested participants | 2018-12-31 | 2 |
Fundng target for terminated vested participants | 2018-12-31 | 8,427 |
Active participant vested funding target | 2018-12-31 | 496,589 |
Number of active participants | 2018-12-31 | 11 |
Total funding liabilities for active participants | 2018-12-31 | 496,589 |
Total participant count | 2018-12-31 | 13 |
Total funding target for all participants | 2018-12-31 | 505,016 |
Balance at beginning of prior year after applicable adjustments | 2018-12-31 | 0 |
Prefunding balance at beginning of prior year after applicable adjustments | 2018-12-31 | 188,558 |
Carryover balanced portion elected for use to offset prior years funding requirement | 2018-12-31 | 0 |
Prefunding balanced used to offset prior years funding requirement | 2018-12-31 | 0 |
Amount remaining of carryover balance | 2018-12-31 | 0 |
Amount remaining of prefunding balance | 2018-12-31 | 188,558 |
Present value of excess contributions | 2018-12-31 | 8,410 |
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance | 2018-12-31 | 8,895 |
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance | 2018-12-31 | 8,895 |
Reductions in caryover balances due to elections or deemed elections | 2018-12-31 | 0 |
Reductions in prefunding balances due to elections or deemed elections | 2018-12-31 | 0 |
Balance of carryovers at beginning of current year | 2018-12-31 | 0 |
Balance of prefunding at beginning of current year | 2018-12-31 | 218,892 |
Total employer contributions | 2018-12-31 | 124,285 |
Total employee contributions | 2018-12-31 | 0 |
Contributions allocated toward unpaid minimum require contributions from prior years | 2018-12-31 | 0 |
Contributions made to avoid restrictions adjusted to valuation date | 2018-12-31 | 0 |
Contributions allocated toward minimum required contributions for current year adjusted to valuation date | 2018-12-31 | 117,678 |
Unpaid minimum required contributions for all prior years | 2018-12-31 | 0 |
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years | 2018-12-31 | 0 |
Remaining amount of unpaid minimum required contributions | 2018-12-31 | 0 |
Minimum required contributions for current year target normal cost | 2018-12-31 | 113,210 |
Net shortfall amortization installment of oustanding balance | 2018-12-31 | 0 |
Total funding amount beforereflecting carryover/prefunding balances | 2018-12-31 | 94,337 |
Carryover balance elected to use to offset funding requirement | 2018-12-31 | 0 |
Prefunding balance elected to use to offset funding requirement | 2018-12-31 | 0 |
Additional cash requirement | 2018-12-31 | 94,337 |
Contributions allocatedtoward minimum required contributions for current year | 2018-12-31 | 117,678 |
Unpaid minimum required contributions for current year | 2018-12-31 | 0 |
Unpaid minimum required contributions for all years | 2018-12-31 | 0 |
2017: SANFORD INSURANCE GROUP CASH BALANCE PLAN 2017 401k membership |
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Market value of plan assets | 2017-12-31 | 551,312 |
Acturial value of plan assets | 2017-12-31 | 551,312 |
Funding target for retired participants and beneficiaries receiving payment | 2017-12-31 | 0 |
Number of terminated vested participants | 2017-12-31 | 0 |
Fundng target for terminated vested participants | 2017-12-31 | 0 |
Active participant vested funding target | 2017-12-31 | 357,335 |
Number of active participants | 2017-12-31 | 12 |
Total funding liabilities for active participants | 2017-12-31 | 358,547 |
Total participant count | 2017-12-31 | 12 |
Total funding target for all participants | 2017-12-31 | 358,547 |
Balance at beginning of prior year after applicable adjustments | 2017-12-31 | 0 |
Prefunding balance at beginning of prior year after applicable adjustments | 2017-12-31 | 82,000 |
Carryover balanced portion elected for use to offset prior years funding requirement | 2017-12-31 | 0 |
Prefunding balanced used to offset prior years funding requirement | 2017-12-31 | 0 |
Amount remaining of carryover balance | 2017-12-31 | 0 |
Amount remaining of prefunding balance | 2017-12-31 | 82,000 |
Present value of excess contributions | 2017-12-31 | 95,382 |
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance | 2017-12-31 | 101,048 |
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance | 2017-12-31 | 101,048 |
Reductions in caryover balances due to elections or deemed elections | 2017-12-31 | 0 |
Reductions in prefunding balances due to elections or deemed elections | 2017-12-31 | 0 |
Balance of carryovers at beginning of current year | 2017-12-31 | 0 |
Balance of prefunding at beginning of current year | 2017-12-31 | 188,558 |
Total employer contributions | 2017-12-31 | 120,481 |
Total employee contributions | 2017-12-31 | 0 |
Contributions allocated toward unpaid minimum require contributions from prior years | 2017-12-31 | 0 |
Contributions made to avoid restrictions adjusted to valuation date | 2017-12-31 | 0 |
Contributions allocated toward minimum required contributions for current year adjusted to valuation date | 2017-12-31 | 114,068 |
Unpaid minimum required contributions for all prior years | 2017-12-31 | 0 |
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years | 2017-12-31 | 0 |
Remaining amount of unpaid minimum required contributions | 2017-12-31 | 0 |
Minimum required contributions for current year target normal cost | 2017-12-31 | 109,865 |
Net shortfall amortization installment of oustanding balance | 2017-12-31 | 0 |
Total funding amount beforereflecting carryover/prefunding balances | 2017-12-31 | 105,658 |
Carryover balance elected to use to offset funding requirement | 2017-12-31 | 0 |
Prefunding balance elected to use to offset funding requirement | 2017-12-31 | 0 |
Additional cash requirement | 2017-12-31 | 105,658 |
Contributions allocatedtoward minimum required contributions for current year | 2017-12-31 | 114,068 |
Unpaid minimum required contributions for current year | 2017-12-31 | 0 |
Unpaid minimum required contributions for all years | 2017-12-31 | 0 |
2016: SANFORD INSURANCE GROUP CASH BALANCE PLAN 2016 401k membership |
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Market value of plan assets | 2016-12-31 | 308,608 |
Acturial value of plan assets | 2016-12-31 | 308,608 |
Funding target for retired participants and beneficiaries receiving payment | 2016-12-31 | 0 |
Number of terminated vested participants | 2016-12-31 | 0 |
Fundng target for terminated vested participants | 2016-12-31 | 0 |
Active participant vested funding target | 2016-12-31 | 0 |
Number of active participants | 2016-12-31 | 11 |
Total funding liabilities for active participants | 2016-12-31 | 226,565 |
Total participant count | 2016-12-31 | 11 |
Total funding target for all participants | 2016-12-31 | 226,565 |
Balance at beginning of prior year after applicable adjustments | 2016-12-31 | 0 |
Prefunding balance at beginning of prior year after applicable adjustments | 2016-12-31 | 9,900 |
Amount remaining of carryover balance | 2016-12-31 | 0 |
Amount remaining of prefunding balance | 2016-12-31 | 9,900 |
Present value of excess contributions | 2016-12-31 | 86,575 |
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance | 2016-12-31 | 91,882 |
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance | 2016-12-31 | 91,882 |
Reductions in caryover balances due to elections or deemed elections | 2016-12-31 | 0 |
Reductions in prefunding balances due to elections or deemed elections | 2016-12-31 | 19,461 |
Balance of carryovers at beginning of current year | 2016-12-31 | 0 |
Balance of prefunding at beginning of current year | 2016-12-31 | 82,000 |
Total employer contributions | 2016-12-31 | 215,000 |
Total employee contributions | 2016-12-31 | 0 |
Contributions allocated toward unpaid minimum require contributions from prior years | 2016-12-31 | 0 |
Contributions made to avoid restrictions adjusted to valuation date | 2016-12-31 | 0 |
Contributions allocated toward minimum required contributions for current year adjusted to valuation date | 2016-12-31 | 201,949 |
Unpaid minimum required contributions for all prior years | 2016-12-31 | 0 |
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years | 2016-12-31 | 0 |
Remaining amount of unpaid minimum required contributions | 2016-12-31 | 0 |
Minimum required contributions for current year target normal cost | 2016-12-31 | 106,628 |
Net shortfall amortization installment of oustanding balance | 2016-12-31 | 0 |
Total funding amount beforereflecting carryover/prefunding balances | 2016-12-31 | 106,585 |
Additional cash requirement | 2016-12-31 | 106,585 |
Contributions allocatedtoward minimum required contributions for current year | 2016-12-31 | 201,949 |
Unpaid minimum required contributions for current year | 2016-12-31 | 0 |
Unpaid minimum required contributions for all years | 2016-12-31 | 0 |