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J. W. CLEARY COMPANY PENSION PLAN 401k Plan overview

Plan NameJ. W. CLEARY COMPANY PENSION PLAN
Plan identification number 002

J. W. CLEARY COMPANY PENSION 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

J. W. CLEARY COMPANY has sponsored the creation of one or more 401k plans.

Company Name:J. W. CLEARY COMPANY
Employer identification number (EIN):311121873
NAIC Classification:323100

Form 5500 Filing Information

Submission information for form 5500 for 401k plan J. W. CLEARY COMPANY PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022021-10-01MICHAEL CLEARY2023-07-13
0022020-10-01MICHAEL CLEARY2022-07-08
0022019-10-01MICHAEL CLEARY2021-07-13
0022018-10-01MICHAEL CLEARY2020-07-13
0022017-10-01MICHAEL CLEARY2019-06-06 MICHAEL CLEARY2019-06-06
0022016-10-01MICHAEL CLEARY2018-04-19
0022015-10-01MICHAEL CLEARY2017-07-05

Plan Statistics for J. W. CLEARY COMPANY PENSION PLAN

401k plan membership statisitcs for J. W. CLEARY COMPANY PENSION PLAN

Measure Date Value
2022: J. W. CLEARY COMPANY PENSION PLAN 2022 401k membership
Market value of plan assets2022-09-30666,469
Acturial value of plan assets2022-09-30666,469
Funding target for retired participants and beneficiaries receiving payment2022-09-300
Number of terminated vested participants2022-09-300
Fundng target for terminated vested participants2022-09-300
Active participant vested funding target2022-09-30586,690
Number of active participants2022-09-304
Total funding liabilities for active participants2022-09-30586,690
Total participant count2022-09-304
Total funding target for all participants2022-09-30586,690
Balance at beginning of prior year after applicable adjustments2022-09-300
Prefunding balance at beginning of prior year after applicable adjustments2022-09-304,388
Carryover balanced portion elected for use to offset prior years funding requirement2022-09-300
Prefunding balanced used to offset prior years funding requirement2022-09-304,388
Amount remaining of carryover balance2022-09-300
Amount remaining of prefunding balance2022-09-300
Present value of excess contributions2022-09-304,701
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-09-305,376
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-09-305,376
Reductions in caryover balances due to elections or deemed elections2022-09-300
Reductions in prefunding balances due to elections or deemed elections2022-09-300
Balance of carryovers at beginning of current year2022-09-300
Balance of prefunding at beginning of current year2022-09-305,376
Total employer contributions2022-09-30135,000
Total employee contributions2022-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2022-09-300
Contributions made to avoid restrictions adjusted to valuation date2022-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-09-30124,678
Unpaid minimum required contributions for all prior years2022-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-09-300
Remaining amount of unpaid minimum required contributions2022-09-300
Minimum required contributions for current year target normal cost2022-09-3069,506
Net shortfall amortization installment of oustanding balance2022-09-300
Waiver amortization installment2022-09-300
Total funding amount beforereflecting carryover/prefunding balances2022-09-300
Carryover balance elected to use to offset funding requirement2022-09-300
Prefunding balance elected to use to offset funding requirement2022-09-300
Additional cash requirement2022-09-300
Contributions allocatedtoward minimum required contributions for current year2022-09-30124,678
Unpaid minimum required contributions for current year2022-09-300
Unpaid minimum required contributions for all years2022-09-300
2021: J. W. CLEARY COMPANY PENSION PLAN 2021 401k membership
Market value of plan assets2021-09-30516,791
Acturial value of plan assets2021-09-30516,791
Funding target for retired participants and beneficiaries receiving payment2021-09-300
Number of terminated vested participants2021-09-300
Fundng target for terminated vested participants2021-09-300
Active participant vested funding target2021-09-30506,455
Number of active participants2021-09-303
Total funding liabilities for active participants2021-09-30506,455
Total participant count2021-09-303
Total funding target for all participants2021-09-30506,455
Balance at beginning of prior year after applicable adjustments2021-09-300
Prefunding balance at beginning of prior year after applicable adjustments2021-09-30693
Carryover balanced portion elected for use to offset prior years funding requirement2021-09-300
Prefunding balanced used to offset prior years funding requirement2021-09-30693
Amount remaining of carryover balance2021-09-300
Amount remaining of prefunding balance2021-09-300
Present value of excess contributions2021-09-304,172
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-09-304,388
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-09-304,388
Reductions in caryover balances due to elections or deemed elections2021-09-300
Reductions in prefunding balances due to elections or deemed elections2021-09-300
Balance of carryovers at beginning of current year2021-09-300
Balance of prefunding at beginning of current year2021-09-304,388
Total employer contributions2021-09-3075,500
Total employee contributions2021-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2021-09-300
Contributions made to avoid restrictions adjusted to valuation date2021-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-09-3068,394
Liquidity shortfalls end of Q12021-09-300
Liquidity shortfalls end of Q22021-09-300
Liquidity shortfalls end of Q32021-09-300
Liquidity shortfalls end of Q42021-09-300
Unpaid minimum required contributions for all prior years2021-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-09-300
Remaining amount of unpaid minimum required contributions2021-09-300
Minimum required contributions for current year target normal cost2021-09-3074,029
Net shortfall amortization installment of oustanding balance2021-09-300
Waiver amortization installment2021-09-300
Total funding amount beforereflecting carryover/prefunding balances2021-09-3068,081
Carryover balance elected to use to offset funding requirement2021-09-300
Prefunding balance elected to use to offset funding requirement2021-09-304,388
Additional cash requirement2021-09-3063,693
Contributions allocatedtoward minimum required contributions for current year2021-09-3068,394
Unpaid minimum required contributions for current year2021-09-300
Unpaid minimum required contributions for all years2021-09-300
2020: J. W. CLEARY COMPANY PENSION PLAN 2020 401k membership
Market value of plan assets2020-09-30384,198
Acturial value of plan assets2020-09-30384,198
Funding target for retired participants and beneficiaries receiving payment2020-09-300
Number of terminated vested participants2020-09-300
Fundng target for terminated vested participants2020-09-300
Active participant vested funding target2020-09-30414,282
Number of active participants2020-09-303
Total funding liabilities for active participants2020-09-30414,282
Total participant count2020-09-303
Total funding target for all participants2020-09-30414,282
Balance at beginning of prior year after applicable adjustments2020-09-300
Prefunding balance at beginning of prior year after applicable adjustments2020-09-301,666
Carryover balanced portion elected for use to offset prior years funding requirement2020-09-300
Prefunding balanced used to offset prior years funding requirement2020-09-301,666
Amount remaining of carryover balance2020-09-300
Amount remaining of prefunding balance2020-09-300
Present value of excess contributions2020-09-30667
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-09-30693
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-09-30693
Reductions in caryover balances due to elections or deemed elections2020-09-300
Reductions in prefunding balances due to elections or deemed elections2020-09-300
Balance of carryovers at beginning of current year2020-09-300
Balance of prefunding at beginning of current year2020-09-30693
Total employer contributions2020-09-3090,000
Total employee contributions2020-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2020-09-300
Contributions made to avoid restrictions adjusted to valuation date2020-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-09-3081,262
Liquidity shortfalls end of Q12020-09-300
Liquidity shortfalls end of Q22020-09-300
Liquidity shortfalls end of Q32020-09-300
Liquidity shortfalls end of Q42020-09-300
Unpaid minimum required contributions for all prior years2020-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-09-300
Remaining amount of unpaid minimum required contributions2020-09-300
Minimum required contributions for current year target normal cost2020-09-3072,155
Net shortfall amortization installment of oustanding balance2020-09-3030,777
Waiver amortization installment2020-09-300
Total funding amount beforereflecting carryover/prefunding balances2020-09-3077,783
Carryover balance elected to use to offset funding requirement2020-09-300
Prefunding balance elected to use to offset funding requirement2020-09-30693
Additional cash requirement2020-09-3077,090
Contributions allocatedtoward minimum required contributions for current year2020-09-3081,262
Unpaid minimum required contributions for current year2020-09-300
Unpaid minimum required contributions for all years2020-09-300
2019: J. W. CLEARY COMPANY PENSION PLAN 2019 401k membership
Market value of plan assets2019-09-30272,887
Acturial value of plan assets2019-09-30282,887
Funding target for retired participants and beneficiaries receiving payment2019-09-300
Number of terminated vested participants2019-09-300
Fundng target for terminated vested participants2019-09-300
Active participant vested funding target2019-09-30303,564
Number of active participants2019-09-303
Total funding liabilities for active participants2019-09-30303,564
Total participant count2019-09-303
Total funding target for all participants2019-09-30303,564
Balance at beginning of prior year after applicable adjustments2019-09-300
Prefunding balance at beginning of prior year after applicable adjustments2019-09-3015,954
Carryover balanced portion elected for use to offset prior years funding requirement2019-09-300
Prefunding balanced used to offset prior years funding requirement2019-09-3015,954
Amount remaining of carryover balance2019-09-300
Amount remaining of prefunding balance2019-09-300
Present value of excess contributions2019-09-301,645
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-09-301,666
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-09-301,666
Reductions in caryover balances due to elections or deemed elections2019-09-300
Reductions in prefunding balances due to elections or deemed elections2019-09-300
Balance of carryovers at beginning of current year2019-09-300
Balance of prefunding at beginning of current year2019-09-301,666
Total employer contributions2019-09-30102,000
Total employee contributions2019-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2019-09-300
Contributions made to avoid restrictions adjusted to valuation date2019-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-09-3096,355
Liquidity shortfalls end of Q12019-09-300
Liquidity shortfalls end of Q22019-09-300
Liquidity shortfalls end of Q32019-09-300
Liquidity shortfalls end of Q42019-09-300
Unpaid minimum required contributions for all prior years2019-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-09-300
Remaining amount of unpaid minimum required contributions2019-09-300
Minimum required contributions for current year target normal cost2019-09-3092,074
Net shortfall amortization installment of oustanding balance2019-09-3032,343
Waiver amortization installment2019-09-300
Total funding amount beforereflecting carryover/prefunding balances2019-09-3097,354
Prefunding balance elected to use to offset funding requirement2019-09-301,666
Additional cash requirement2019-09-3095,688
Contributions allocatedtoward minimum required contributions for current year2019-09-3096,355
Unpaid minimum required contributions for current year2019-09-300
Unpaid minimum required contributions for all years2019-09-300
2018: J. W. CLEARY COMPANY PENSION PLAN 2018 401k membership
Market value of plan assets2018-09-30196,118
Acturial value of plan assets2018-09-30196,118
Funding target for retired participants and beneficiaries receiving payment2018-09-300
Number of terminated vested participants2018-09-300
Fundng target for terminated vested participants2018-09-300
Active participant vested funding target2018-09-300
Number of active participants2018-09-303
Total funding liabilities for active participants2018-09-30179,490
Total participant count2018-09-303
Total funding target for all participants2018-09-30179,490
Balance at beginning of prior year after applicable adjustments2018-09-300
Prefunding balance at beginning of prior year after applicable adjustments2018-09-306,794
Carryover balanced portion elected for use to offset prior years funding requirement2018-09-300
Prefunding balanced used to offset prior years funding requirement2018-09-300
Amount remaining of carryover balance2018-09-300
Amount remaining of prefunding balance2018-09-306,794
Present value of excess contributions2018-09-309,394
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-09-309,951
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-09-309,951
Reductions in caryover balances due to elections or deemed elections2018-09-300
Reductions in prefunding balances due to elections or deemed elections2018-09-301,246
Balance of carryovers at beginning of current year2018-09-300
Balance of prefunding at beginning of current year2018-09-3015,954
Total employer contributions2018-09-3074,441
Total employee contributions2018-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2018-09-300
Contributions made to avoid restrictions adjusted to valuation date2018-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-09-3068,637
Unpaid minimum required contributions for all prior years2018-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-09-300
Remaining amount of unpaid minimum required contributions2018-09-300
Minimum required contributions for current year target normal cost2018-09-3083,620
Net shortfall amortization installment of oustanding balance2018-09-300
Waiver amortization installment2018-09-300
Total funding amount beforereflecting carryover/prefunding balances2018-09-3082,946
Prefunding balance elected to use to offset funding requirement2018-09-3015,954
Additional cash requirement2018-09-3066,992
Contributions allocatedtoward minimum required contributions for current year2018-09-3068,637
Unpaid minimum required contributions for current year2018-09-300
Unpaid minimum required contributions for all years2018-09-300
2017: J. W. CLEARY COMPANY PENSION PLAN 2017 401k membership
Market value of plan assets2017-09-3092,477
Acturial value of plan assets2017-09-3092,477
Funding target for retired participants and beneficiaries receiving payment2017-09-300
Number of terminated vested participants2017-09-300
Fundng target for terminated vested participants2017-09-300
Number of active participants2017-09-303
Total funding liabilities for active participants2017-09-3085,683
Total participant count2017-09-303
Total funding target for all participants2017-09-3085,683
Balance at beginning of prior year after applicable adjustments2017-09-300
Prefunding balance at beginning of prior year after applicable adjustments2017-09-300
Carryover balanced portion elected for use to offset prior years funding requirement2017-09-300
Prefunding balanced used to offset prior years funding requirement2017-09-300
Amount remaining of carryover balance2017-09-300
Amount remaining of prefunding balance2017-09-300
Present value of excess contributions2017-09-307,456
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-09-307,913
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-09-307,913
Reductions in caryover balances due to elections or deemed elections2017-09-300
Reductions in prefunding balances due to elections or deemed elections2017-09-301,119
Balance of carryovers at beginning of current year2017-09-300
Balance of prefunding at beginning of current year2017-09-306,794
Total employer contributions2017-09-3098,263
Total employee contributions2017-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2017-09-300
Contributions made to avoid restrictions adjusted to valuation date2017-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-09-3091,304
Unpaid minimum required contributions for all prior years2017-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-09-300
Remaining amount of unpaid minimum required contributions2017-09-300
Minimum required contributions for current year target normal cost2017-09-3081,910
Net shortfall amortization installment of oustanding balance2017-09-300
Waiver amortization installment2017-09-300
Total funding amount beforereflecting carryover/prefunding balances2017-09-3081,910
Carryover balance elected to use to offset funding requirement2017-09-300
Prefunding balance elected to use to offset funding requirement2017-09-300
Additional cash requirement2017-09-3081,910
Contributions allocatedtoward minimum required contributions for current year2017-09-3091,304
Unpaid minimum required contributions for current year2017-09-300
Unpaid minimum required contributions for all years2017-09-300

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