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THE MAYERNICK GROUP, LLC CASH BALANCE PLAN 401k Plan overview

Plan NameTHE MAYERNICK GROUP, LLC CASH BALANCE PLAN
Plan identification number 002

THE MAYERNICK GROUP, LLC CASH BALANCE PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Cash balance or similar plan - Plan has a "cash balance" formula. For this purpose, a "cash balance" formula is a benefit formula in a defined benefit plan by whatever name (for example, personal account plan, pension equity plan, life cycle plan, cash account plan, etc.) that rather than, or in addition to, expressing the accrued benefit as a life annuity commencing at normal retirement age, defines benefits for each employee in terms more common to a defined contribution plan such as a single sum distribution amount (for example, 10 percent of final average pay times years of service, or the amount of the employee's hypothetical account balance).
  • 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 MAYERNICK GROUP, LLC has sponsored the creation of one or more 401k plans.

Company Name:THE MAYERNICK GROUP, LLC
Employer identification number (EIN):272579382
NAIC Classification:812990
NAIC Description:All Other Personal Services

Additional information about THE MAYERNICK GROUP, LLC

Jurisdiction of Incorporation: Florida Department of State Division of Corporations
Incorporation Date: 2010-05-13
Company Identification Number: L10000051799
Legal Registered Office Address: 4616 GROVE PARK DRIVE

TALLAHASSEE

32311

More information about THE MAYERNICK GROUP, LLC

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE MAYERNICK GROUP, LLC CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01FRANK MAYERNICK2023-08-11
0022021-01-01FRANK MAYERNICK2022-09-21
0022020-01-01FRANK MAYERNICK2021-08-26
0022019-01-01FRANK MAYERNICK2020-08-17
0022018-01-01FRANK MAYERNICK2019-10-08 FRANK MAYERNICK2019-10-08
0022017-01-01FRANK MAYERNICK2018-09-18 FRANK MAYERNICK2018-09-18

Plan Statistics for THE MAYERNICK GROUP, LLC CASH BALANCE PLAN

401k plan membership statisitcs for THE MAYERNICK GROUP, LLC CASH BALANCE PLAN

Measure Date Value
2022: THE MAYERNICK GROUP, LLC CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-31939,214
Acturial value of plan assets2022-12-31939,214
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-311
Fundng target for terminated vested participants2022-12-312,243
Active participant vested funding target2022-12-31870,297
Number of active participants2022-12-312
Total funding liabilities for active participants2022-12-31870,297
Total participant count2022-12-313
Total funding target for all participants2022-12-31872,540
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 contributions2022-12-31134,391
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31134,391
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
Total employer contributions2022-12-31285,420
Total employee contributions2022-12-310
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 date2022-12-31276,924
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 cost2022-12-31154,501
Net shortfall amortization installment of oustanding balance2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-3187,827
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-3187,827
Contributions allocatedtoward minimum required contributions for current year2022-12-31276,924
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: THE MAYERNICK GROUP, LLC CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-31837,886
Acturial value of plan assets2021-12-31837,886
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-310
Fundng target for terminated vested participants2021-12-310
Active participant vested funding target2021-12-31719,768
Number of active participants2021-12-313
Total funding liabilities for active participants2021-12-31719,768
Total participant count2021-12-313
Total funding target for all participants2021-12-31719,768
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 contributions2021-12-31158,775
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-31158,775
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
Total employer contributions2021-12-31184,000
Total employee contributions2021-12-310
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 date2021-12-31178,688
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 cost2021-12-31162,415
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-3144,297
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-3144,297
Contributions allocatedtoward minimum required contributions for current year2021-12-31178,688
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: THE MAYERNICK GROUP, LLC CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-31619,059
Acturial value of plan assets2020-12-31619,059
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 target2020-12-31489,198
Number of active participants2020-12-313
Total funding liabilities for active participants2020-12-31489,198
Total participant count2020-12-313
Total funding target for all participants2020-12-31489,198
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 contributions2020-12-31121,531
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-31121,531
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 contributions2020-12-31185,468
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 date2020-12-31179,986
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 cost2020-12-31151,072
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-3121,211
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-3121,211
Contributions allocatedtoward minimum required contributions for current year2020-12-31179,986
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: THE MAYERNICK GROUP, LLC CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-31391,832
Acturial value of plan assets2019-12-31391,832
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 target2019-12-31307,558
Number of active participants2019-12-313
Total funding liabilities for active participants2019-12-31308,192
Total participant count2019-12-313
Total funding target for all participants2019-12-31308,192
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 contributions2019-12-3197,740
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-3197,740
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 contributions2019-12-31184,987
Total employee contributions2019-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2019-12-310
Contributions made to avoid restrictions adjusted to valuation date2019-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-12-31183,335
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 cost2019-12-31145,444
Net shortfall amortization installment of oustanding balance2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-3161,804
Additional cash requirement2019-12-3161,804
Contributions allocatedtoward minimum required contributions for current year2019-12-31183,335
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: THE MAYERNICK GROUP, LLC CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-31183,862
Acturial value of plan assets2018-12-31183,862
Active participant vested funding target2018-12-31134,752
Number of active participants2018-12-313
Total funding liabilities for active participants2018-12-31134,752
Total participant count2018-12-313
Total funding target for all participants2018-12-31134,752
Present value of excess contributions2018-12-3167,437
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-3167,437
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-310
Total employer contributions2018-12-31185,255
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-12-31178,760
Remaining amount of unpaid minimum required contributions2018-12-310
Minimum required contributions for current year target normal cost2018-12-31130,130
Total funding amount beforereflecting carryover/prefunding balances2018-12-3181,020
Additional cash requirement2018-12-3181,020
Contributions allocatedtoward minimum required contributions for current year2018-12-31178,760
Unpaid minimum required contributions for current year2018-12-310
2017: THE MAYERNICK GROUP, LLC CASH BALANCE PLAN 2017 401k membership
Number of active participants2017-12-312
Total participant count2017-12-312
Total employer contributions2017-12-31184,500
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-12-31181,289
Remaining amount of unpaid minimum required contributions2017-12-310
Minimum required contributions for current year target normal cost2017-12-31113,852
Total funding amount beforereflecting carryover/prefunding balances2017-12-31113,852
Additional cash requirement2017-12-31113,852
Contributions allocatedtoward minimum required contributions for current year2017-12-31181,289

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