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JOSEPH A. SPENCER III DEFINED BENEFIT PLAN 401k Plan overview

Plan NameJOSEPH A. SPENCER III DEFINED BENEFIT PLAN
Plan identification number 002

JOSEPH A. SPENCER III DEFINED BENEFIT PLAN 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).
  • Plan covering Self-Employed individuals.
  • 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

JOSEPH A. SPENCER III has sponsored the creation of one or more 401k plans.

Company Name:JOSEPH A. SPENCER III
Employer identification number (EIN):262608162
NAIC Classification:524210
NAIC Description:Insurance Agencies and Brokerages

Form 5500 Filing Information

Submission information for form 5500 for 401k plan JOSEPH A. SPENCER III DEFINED BENEFIT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01JOSEPH SPENCER2023-10-02
0022021-01-01JOSEPH SPENCER2022-07-27
0022020-01-01JOSEPH SPENCER2021-08-04
0022019-01-01JOSEPH A. SPENCER, III2020-09-29 JOSEPH A. SPENCER, III2020-09-29
0022018-01-01JOSEPH A. SPENCER, III2019-09-12 JOSEPH A. SPENCER, III2019-09-12
0022017-01-01JOSEPH A. SPENCER, III2018-06-12 JOSEPH A. SPENCER, III2018-06-12
0022016-01-01JOSEPH A. SPENCER, III2017-07-21 JOSEPH A. SPENCER, III2017-07-21
0022015-01-01JOSEPH A. SPENCER, III2016-06-07 JOSEPH A. SPENCER, III2016-06-07
0022014-01-01JOSEPH A. SPENCER,III2015-09-14 JOSEPH A. SPENCER,III2015-09-14
0022013-01-01JOSEPH A. SPENCER,III2014-07-03 JOSEPH A. SPENCER,III2014-07-03
0022012-01-01JOSEPH A. SPENCER,III2013-07-02 JOSEPH A. SPENCER,III2013-07-02
0022011-01-01JOSEPH A. SPENCER,III2012-08-07 JOSEPH A. SPENCER,III2012-08-07
0022010-01-01JOSEPH A. SPENCER,III2011-07-20 JOSEPH A. SPENCER,III2011-07-20

Plan Statistics for JOSEPH A. SPENCER III DEFINED BENEFIT PLAN

401k plan membership statisitcs for JOSEPH A. SPENCER III DEFINED BENEFIT PLAN

Measure Date Value
2022: JOSEPH A. SPENCER III DEFINED BENEFIT PLAN 2022 401k membership
Market value of plan assets2022-12-314,043,200
Acturial value of plan assets2022-12-314,043,200
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-311
Fundng target for terminated vested participants2022-12-3150,502
Active participant vested funding target2022-12-312,461,932
Number of active participants2022-12-312
Total funding liabilities for active participants2022-12-312,461,932
Total participant count2022-12-313
Total funding target for all participants2022-12-312,512,434
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2022-12-310
Prefunding balanced used to offset prior years funding requirement2022-12-310
Amount remaining of carryover balance2022-12-310
Amount remaining of prefunding balance2022-12-310
Present value of excess contributions2022-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-310
Reductions in caryover balances due to elections or deemed elections2022-12-310
Reductions in prefunding balances due to elections or deemed elections2022-12-310
Balance of carryovers at beginning of current year2022-12-310
Balance of prefunding at beginning of current year2022-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2022-12-310
Contributions made to avoid restrictions adjusted to valuation date2022-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-12-310
Unpaid minimum required contributions for all prior years2022-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-12-310
Remaining amount of unpaid minimum required contributions2022-12-310
Minimum required contributions for current year target normal cost2022-12-315,694
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-310
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-310
Contributions allocatedtoward minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: JOSEPH A. SPENCER III DEFINED BENEFIT PLAN 2021 401k membership
Market value of plan assets2021-12-313,615,663
Acturial value of plan assets2021-12-313,615,663
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-311
Fundng target for terminated vested participants2021-12-3144,896
Active participant vested funding target2021-12-312,293,450
Number of active participants2021-12-312
Total funding liabilities for active participants2021-12-312,293,450
Total participant count2021-12-313
Total funding target for all participants2021-12-312,338,346
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2021-12-310
Prefunding balanced used to offset prior years funding requirement2021-12-310
Amount remaining of carryover balance2021-12-310
Amount remaining of prefunding balance2021-12-310
Present value of excess contributions2021-12-31238,941
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-31251,772
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-310
Reductions in caryover balances due to elections or deemed elections2021-12-310
Reductions in prefunding balances due to elections or deemed elections2021-12-310
Balance of carryovers at beginning of current year2021-12-310
Balance of prefunding at beginning of current year2021-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2021-12-310
Contributions made to avoid restrictions adjusted to valuation date2021-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-12-310
Unpaid minimum required contributions for all prior years2021-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-12-310
Remaining amount of unpaid minimum required contributions2021-12-310
Minimum required contributions for current year target normal cost2021-12-319,587
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-310
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-310
Contributions allocatedtoward minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: JOSEPH A. SPENCER III DEFINED BENEFIT PLAN 2020 401k membership
Market value of plan assets2020-12-312,592,461
Acturial value of plan assets2020-12-312,592,461
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-310
Fundng target for terminated vested participants2020-12-310
Active participant vested funding target2020-12-312,095,067
Number of active participants2020-12-313
Total funding liabilities for active participants2020-12-312,095,067
Total participant count2020-12-313
Total funding target for all participants2020-12-312,095,067
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2020-12-310
Prefunding balanced used to offset prior years funding requirement2020-12-310
Amount remaining of carryover balance2020-12-310
Amount remaining of prefunding balance2020-12-310
Present value of excess contributions2020-12-31238,977
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-31251,930
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-310
Reductions in caryover balances due to elections or deemed elections2020-12-310
Reductions in prefunding balances due to elections or deemed elections2020-12-310
Balance of carryovers at beginning of current year2020-12-310
Balance of prefunding at beginning of current year2020-12-310
Total employer contributions2020-12-31250,082
Total employee contributions2020-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2020-12-310
Contributions made to avoid restrictions adjusted to valuation date2020-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-12-31238,941
Unpaid minimum required contributions for all prior years2020-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-12-310
Remaining amount of unpaid minimum required contributions2020-12-310
Minimum required contributions for current year target normal cost2020-12-31171,522
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-310
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-310
Contributions allocatedtoward minimum required contributions for current year2020-12-31238,941
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: JOSEPH A. SPENCER III DEFINED BENEFIT PLAN 2019 401k membership
Market value of plan assets2019-12-311,772,253
Acturial value of plan assets2019-12-311,772,253
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-310
Fundng target for terminated vested participants2019-12-310
Active participant vested funding target2019-12-311,186,403
Number of active participants2019-12-313
Total funding liabilities for active participants2019-12-311,186,403
Total participant count2019-12-313
Total funding target for all participants2019-12-311,186,403
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2019-12-310
Prefunding balanced used to offset prior years funding requirement2019-12-310
Amount remaining of carryover balance2019-12-310
Amount remaining of prefunding balance2019-12-310
Present value of excess contributions2019-12-31210,420
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-31222,225
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-310
Reductions in caryover balances due to elections or deemed elections2019-12-310
Reductions in prefunding balances due to elections or deemed elections2019-12-310
Balance of carryovers at beginning of current year2019-12-310
Balance of prefunding at beginning of current year2019-12-310
Total employer contributions2019-12-31250,000
Total employee contributions2019-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-12-31238,977
Unpaid minimum required contributions for all prior years2019-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-12-310
Remaining amount of unpaid minimum required contributions2019-12-310
Minimum required contributions for current year target normal cost2019-12-316,920
Total funding amount beforereflecting carryover/prefunding balances2019-12-310
Additional cash requirement2019-12-310
Contributions allocatedtoward minimum required contributions for current year2019-12-31238,977
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: JOSEPH A. SPENCER III DEFINED BENEFIT PLAN 2018 401k membership
Market value of plan assets2018-12-311,669,273
Acturial value of plan assets2018-12-311,669,273
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-310
Fundng target for terminated vested participants2018-12-310
Active participant vested funding target2018-12-311,101,345
Number of active participants2018-12-313
Total funding liabilities for active participants2018-12-311,101,345
Total participant count2018-12-313
Total funding target for all participants2018-12-311,101,345
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2018-12-310
Prefunding balanced used to offset prior years funding requirement2018-12-310
Amount remaining of carryover balance2018-12-310
Amount remaining of prefunding balance2018-12-310
Present value of excess contributions2018-12-31130,610
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-31138,146
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-310
Reductions in caryover balances due to elections or deemed elections2018-12-310
Reductions in prefunding balances due to elections or deemed elections2018-12-310
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-310
Total employer contributions2018-12-31220,000
Total employee contributions2018-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-12-31210,420
Unpaid minimum required contributions for all prior years2018-12-310
Remaining amount of unpaid minimum required contributions2018-12-310
Minimum required contributions for current year target normal cost2018-12-315,629
Total funding amount beforereflecting carryover/prefunding balances2018-12-310
Additional cash requirement2018-12-310
Contributions allocatedtoward minimum required contributions for current year2018-12-31210,420
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: JOSEPH A. SPENCER III DEFINED BENEFIT PLAN 2017 401k membership
Market value of plan assets2017-12-311,269,800
Acturial value of plan assets2017-12-311,269,800
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-310
Fundng target for terminated vested participants2017-12-310
Active participant vested funding target2017-12-31987,097
Number of active participants2017-12-313
Total funding liabilities for active participants2017-12-31987,097
Total participant count2017-12-313
Total funding target for all participants2017-12-31987,097
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-310
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 balance2017-12-310
Present value of excess contributions2017-12-3193,816
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3199,445
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-12-310
Reductions in caryover balances due to elections or deemed elections2017-12-310
Reductions in prefunding balances due to elections or deemed elections2017-12-310
Balance of carryovers at beginning of current year2017-12-310
Balance of prefunding at beginning of current year2017-12-310
Total employer contributions2017-12-31137,200
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 date2017-12-31130,610
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 cost2017-12-315,610
Total funding amount beforereflecting carryover/prefunding balances2017-12-310
Additional cash requirement2017-12-310
Contributions allocatedtoward minimum required contributions for current year2017-12-31130,610
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: JOSEPH A. SPENCER III DEFINED BENEFIT PLAN 2016 401k membership
Market value of plan assets2016-12-311,070,960
Acturial value of plan assets2016-12-311,070,960
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-310
Fundng target for terminated vested participants2016-12-310
Active participant vested funding target2016-12-31913,084
Number of active participants2016-12-313
Total funding liabilities for active participants2016-12-31913,084
Total participant count2016-12-313
Total funding target for all participants2016-12-31913,084
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-310
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 balance2016-12-310
Present value of excess contributions2016-12-3179,423
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-3184,339
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 year2016-12-310
Total employer contributions2016-12-31100,000
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 date2016-12-3193,816
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 cost2016-12-314,748
Net shortfall amortization installment of oustanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-310
Additional cash requirement2016-12-310
Contributions allocatedtoward minimum required contributions for current year2016-12-3193,816
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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