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BAY AREA CREDIT UNION INC DEFINED BENEFIT PLAN AND TRUST 401k Plan overview

Plan NameBAY AREA CREDIT UNION INC DEFINED BENEFIT PLAN AND TRUST
Plan identification number 001

BAY AREA CREDIT UNION INC DEFINED BENEFIT PLAN AND TRUST 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).
  • 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

BAY AREA CREDIT UNION INC has sponsored the creation of one or more 401k plans.

Company Name:BAY AREA CREDIT UNION INC
Employer identification number (EIN):344360015
NAIC Classification:522130
NAIC Description:Credit Unions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BAY AREA CREDIT UNION INC DEFINED BENEFIT PLAN AND TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01JENNIFER TOBER2023-07-31
0012021-01-01JENNIFER TOBER2022-06-09
0012020-01-01JENNIFER TOBER2021-05-28
0012019-01-01JENNIFER TOBER2020-10-01
0012018-01-01JENNIFER TOBER2019-09-19
0012017-01-01JENNIFER TOBER2018-10-05
0012016-01-01JENNIFER TOBER2017-10-12
0012015-01-01JENNIFER TOBER2016-07-05
0012014-01-01JENNIFER FERGUSON2015-06-22
0012013-01-01JENNIFER FERGUSON2014-06-04
0012012-01-01JENNIFER FERGUSON2013-08-19
0012011-01-01JENNIFER FERGUSON2012-10-15 JENNIFER FERGUSON2012-10-15
0012010-01-01JENNIFER FERGUSON2011-06-29 JENNIFER FERGUSON2011-06-29

Plan Statistics for BAY AREA CREDIT UNION INC DEFINED BENEFIT PLAN AND TRUST

401k plan membership statisitcs for BAY AREA CREDIT UNION INC DEFINED BENEFIT PLAN AND TRUST

Measure Date Value
2022: BAY AREA CREDIT UNION INC DEFINED BENEFIT PLAN AND TRUST 2022 401k membership
Market value of plan assets2022-12-311,893,291
Acturial value of plan assets2022-12-311,893,291
Funding target for retired participants and beneficiaries receiving payment2022-12-31303,732
Number of terminated vested participants2022-12-3122
Fundng target for terminated vested participants2022-12-31195,931
Active participant vested funding target2022-12-31625,138
Number of active participants2022-12-315
Total funding liabilities for active participants2022-12-31625,138
Total participant count2022-12-3130
Total funding target for all participants2022-12-311,124,801
Balance at beginning of prior year after applicable adjustments2022-12-3165,950
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 balance2022-12-3165,950
Amount remaining of prefunding balance2022-12-310
Present value of excess contributions2022-12-3160,987
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-3164,482
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 year2022-12-3173,956
Balance of prefunding at beginning of current year2022-12-310
Total employer contributions2022-12-31102,860
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 date2022-12-3197,902
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 cost2022-12-3176,488
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 year2022-12-3197,902
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: BAY AREA CREDIT UNION INC DEFINED BENEFIT PLAN AND TRUST 2021 401k membership
Market value of plan assets2021-12-311,672,572
Acturial value of plan assets2021-12-311,672,572
Funding target for retired participants and beneficiaries receiving payment2021-12-31303,608
Number of terminated vested participants2021-12-3124
Fundng target for terminated vested participants2021-12-31182,580
Active participant vested funding target2021-12-31521,064
Number of active participants2021-12-315
Total funding liabilities for active participants2021-12-31521,064
Total participant count2021-12-3132
Total funding target for all participants2021-12-311,007,252
Balance at beginning of prior year after applicable adjustments2021-12-3157,765
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 balance2021-12-3157,765
Amount remaining of prefunding balance2021-12-310
Present value of excess contributions2021-12-3190,152
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-3195,164
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 year2021-12-3165,950
Balance of prefunding at beginning of current year2021-12-310
Total employer contributions2021-12-3164,383
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 date2021-12-3160,987
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 cost2021-12-3151,078
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 year2021-12-3160,987
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: BAY AREA CREDIT UNION INC DEFINED BENEFIT PLAN AND TRUST 2020 401k membership
Market value of plan assets2020-12-311,468,125
Acturial value of plan assets2020-12-311,468,125
Funding target for retired participants and beneficiaries receiving payment2020-12-31140,942
Number of terminated vested participants2020-12-3111
Fundng target for terminated vested participants2020-12-31139,739
Active participant vested funding target2020-12-31733,604
Number of active participants2020-12-3121
Total funding liabilities for active participants2020-12-31741,501
Total participant count2020-12-3135
Total funding target for all participants2020-12-311,022,182
Balance at beginning of prior year after applicable adjustments2020-12-3148,210
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 balance2020-12-3148,210
Amount remaining of prefunding balance2020-12-310
Present value of excess contributions2020-12-31232,064
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-31245,361
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 year2020-12-3157,765
Balance of prefunding at beginning of current year2020-12-310
Total employer contributions2020-12-3194,953
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 date2020-12-3190,152
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 cost2020-12-3179,641
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 year2020-12-3190,152
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: BAY AREA CREDIT UNION INC DEFINED BENEFIT PLAN AND TRUST 2019 401k membership
Market value of plan assets2019-12-311,045,468
Acturial value of plan assets2019-12-311,045,468
Funding target for retired participants and beneficiaries receiving payment2019-12-3139,745
Number of terminated vested participants2019-12-3114
Fundng target for terminated vested participants2019-12-31224,589
Active participant vested funding target2019-12-31609,450
Number of active participants2019-12-3119
Total funding liabilities for active participants2019-12-31616,049
Total participant count2019-12-3134
Total funding target for all participants2019-12-31880,383
Balance at beginning of prior year after applicable adjustments2019-12-3151,151
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 balance2019-12-3151,151
Amount remaining of prefunding balance2019-12-310
Present value of excess contributions2019-12-3154,118
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-3157,322
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 year2019-12-3148,210
Balance of prefunding at beginning of current year2019-12-310
Total employer contributions2019-12-31247,461
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 date2019-12-31232,064
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 cost2019-12-3158,329
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-310
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-310
Contributions allocatedtoward minimum required contributions for current year2019-12-31232,064
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: BAY AREA CREDIT UNION INC DEFINED BENEFIT PLAN AND TRUST 2018 401k membership
Market value of plan assets2018-12-311,071,248
Acturial value of plan assets2018-12-311,071,248
Funding target for retired participants and beneficiaries receiving payment2018-12-3145,142
Number of terminated vested participants2018-12-3114
Fundng target for terminated vested participants2018-12-31200,740
Active participant vested funding target2018-12-31499,539
Number of active participants2018-12-3119
Total funding liabilities for active participants2018-12-31505,195
Total participant count2018-12-3134
Total funding target for all participants2018-12-31751,077
Balance at beginning of prior year after applicable adjustments2018-12-3144,437
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 balance2018-12-3144,437
Amount remaining of prefunding balance2018-12-310
Present value of excess contributions2018-12-3186,366
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-3191,669
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 year2018-12-3151,151
Balance of prefunding at beginning of current year2018-12-310
Total employer contributions2018-12-3157,069
Total employee contributions2018-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2018-12-310
Contributions made to avoid restrictions adjusted to valuation date2018-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-12-3154,118
Unpaid minimum required contributions for all prior years2018-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-12-310
Remaining amount of unpaid minimum required contributions2018-12-310
Minimum required contributions for current year target normal cost2018-12-3139,675
Net shortfall amortization installment of oustanding balance2018-12-310
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-310
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-310
Contributions allocatedtoward minimum required contributions for current year2018-12-3154,118
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: BAY AREA CREDIT UNION INC DEFINED BENEFIT PLAN AND TRUST 2017 401k membership
Market value of plan assets2017-12-31871,870
Acturial value of plan assets2017-12-31871,870
Funding target for retired participants and beneficiaries receiving payment2017-12-3146,691
Number of terminated vested participants2017-12-3112
Fundng target for terminated vested participants2017-12-31177,504
Active participant vested funding target2017-12-31416,769
Number of active participants2017-12-3120
Total funding liabilities for active participants2017-12-31421,616
Total participant count2017-12-3133
Total funding target for all participants2017-12-31645,811
Balance at beginning of prior year after applicable adjustments2017-12-3140,990
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 balance2017-12-3140,990
Amount remaining of prefunding balance2017-12-310
Present value of excess contributions2017-12-3171,327
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3175,813
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 year2017-12-3144,437
Balance of prefunding at beginning of current year2017-12-310
Total employer contributions2017-12-3191,789
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 date2017-12-3186,366
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 cost2017-12-3147,749
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-310
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-310
Contributions allocatedtoward minimum required contributions for current year2017-12-3186,366
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: BAY AREA CREDIT UNION INC DEFINED BENEFIT PLAN AND TRUST 2016 401k membership
Market value of plan assets2016-12-31991,155
Acturial value of plan assets2016-12-31991,155
Funding target for retired participants and beneficiaries receiving payment2016-12-3148,355
Number of terminated vested participants2016-12-3110
Fundng target for terminated vested participants2016-12-31169,495
Active participant vested funding target2016-12-31489,561
Number of active participants2016-12-3118
Total funding liabilities for active participants2016-12-31495,693
Total participant count2016-12-3129
Total funding target for all participants2016-12-31713,543
Balance at beginning of prior year after applicable adjustments2016-12-3142,245
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 balance2016-12-3142,245
Amount remaining of prefunding balance2016-12-310
Present value of excess contributions2016-12-31193,570
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-31206,152
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 year2016-12-3140,990
Balance of prefunding at beginning of current year2016-12-310
Total employer contributions2016-12-3175,712
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 date2016-12-3171,327
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 cost2016-12-3153,100
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 year2016-12-3171,327
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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