?>
Logo

DEFINED BENEFIT PENSION PLAN FOR FORMER HEARTLAND BANK EMPLOYEES 401k Plan overview

Plan NameDEFINED BENEFIT PENSION PLAN FOR FORMER HEARTLAND BANK EMPLOYEES
Plan identification number 003

DEFINED BENEFIT PENSION PLAN FOR FORMER HEARTLAND BANK EMPLOYEES Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).
  • 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

MIDLAND STATES BANK has sponsored the creation of one or more 401k plans.

Company Name:MIDLAND STATES BANK
Employer identification number (EIN):370259550
NAIC Classification:522120
NAIC Description:Savings Institutions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan DEFINED BENEFIT PENSION PLAN FOR FORMER HEARTLAND BANK EMPLOYEES

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032021-10-01

Plan Statistics for DEFINED BENEFIT PENSION PLAN FOR FORMER HEARTLAND BANK EMPLOYEES

401k plan membership statisitcs for DEFINED BENEFIT PENSION PLAN FOR FORMER HEARTLAND BANK EMPLOYEES

Measure Date Value
2022: DEFINED BENEFIT PENSION PLAN FOR FORMER HEARTLAND BANK EMPLOYEES 2022 401k membership
Market value of plan assets2022-06-3016,730,508
Acturial value of plan assets2022-06-3016,730,508
Funding target for retired participants and beneficiaries receiving payment2022-06-307,415,582
Number of terminated vested participants2022-06-30125
Fundng target for terminated vested participants2022-06-304,591,875
Active participant vested funding target2022-06-30421,066
Number of active participants2022-06-3011
Total funding liabilities for active participants2022-06-30421,066
Total participant count2022-06-30230
Total funding target for all participants2022-06-3012,428,523
Balance at beginning of prior year after applicable adjustments2022-06-300
Prefunding balance at beginning of prior year after applicable adjustments2022-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2022-06-300
Prefunding balanced used to offset prior years funding requirement2022-06-300
Amount remaining of carryover balance2022-06-300
Amount remaining of prefunding balance2022-06-300
Present value of excess contributions2022-06-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-06-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-06-300
Reductions in caryover balances due to elections or deemed elections2022-06-300
Reductions in prefunding balances due to elections or deemed elections2022-06-300
Balance of carryovers at beginning of current year2022-06-300
Balance of prefunding at beginning of current year2022-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2022-06-300
Contributions made to avoid restrictions adjusted to valuation date2022-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-06-300
Unpaid minimum required contributions for all prior years2022-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-06-300
Remaining amount of unpaid minimum required contributions2022-06-300
Minimum required contributions for current year target normal cost2022-06-3045,255
Net shortfall amortization installment of oustanding balance2022-06-300
Waiver amortization installment2022-06-300
Total funding amount beforereflecting carryover/prefunding balances2022-06-300
Carryover balance elected to use to offset funding requirement2022-06-300
Prefunding balance elected to use to offset funding requirement2022-06-300
Additional cash requirement2022-06-300
Contributions allocatedtoward minimum required contributions for current year2022-06-300
Unpaid minimum required contributions for current year2022-06-300
Unpaid minimum required contributions for all years2022-06-300
2021: DEFINED BENEFIT PENSION PLAN FOR FORMER HEARTLAND BANK EMPLOYEES 2021 401k membership
Total participants, beginning-of-year2021-10-01230
Total number of active participants reported on line 7a of the Form 55002021-10-0111
Number of retired or separated participants receiving benefits2021-10-0194
Number of other retired or separated participants entitled to future benefits2021-10-01124
Total of all active and inactive participants2021-10-01229
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-10-010
Total participants2021-10-01229
Number of participants with account balances2021-10-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-10-010

Financial Data on DEFINED BENEFIT PENSION PLAN FOR FORMER HEARTLAND BANK EMPLOYEES

Measure Date Value
2022 : DEFINED BENEFIT PENSION PLAN FOR FORMER HEARTLAND BANK EMPLOYEES 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-06-30$0
Total transfer of assets to this plan2022-06-30$16,730,508
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-06-30$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-06-30$0
Total income from all sources (including contributions)2022-06-30$-2,329,784
Total loss/gain on sale of assets2022-06-30$0
Total of all expenses incurred2022-06-30$562,521
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-06-30$517,266
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-06-30$0
Value of total assets at end of year2022-06-30$13,838,203
Value of total assets at beginning of year2022-06-30$0
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-06-30$45,255
Total interest from all sources2022-06-30$0
Total dividends received (eg from common stock, registered investment company shares)2022-06-30$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-06-30No
Was this plan covered by a fidelity bond2022-06-30Yes
Value of fidelity bond cover2022-06-30$10,000,000
If this is an individual account plan, was there a blackout period2022-06-30No
Were there any nonexempt tranactions with any party-in-interest2022-06-30No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-06-30No
Value of net income/loss2022-06-30$-2,892,305
Value of net assets at end of year (total assets less liabilities)2022-06-30$13,838,203
Value of net assets at beginning of year (total assets less liabilities)2022-06-30$0
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-06-30No
Were any loans by the plan or fixed income obligations due to the plan in default2022-06-30No
Were any leases to which the plan was party in default or uncollectible2022-06-30No
Value of interest in pooled separate accounts at end of year2022-06-30$13,838,203
Net investment gain/loss from pooled separate accounts2022-06-30$-2,329,784
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-06-30Yes
Was there a failure to transmit to the plan any participant contributions2022-06-30No
Has the plan failed to provide any benefit when due under the plan2022-06-30No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-06-30$517,266
Contract administrator fees2022-06-30$45,255
Did the plan have assets held for investment2022-06-30Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-06-30No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-06-30No
Opinion of an independent qualified public accountant for this plan2022-06-30Unqualified
Accountancy firm name2022-06-30CLIFTONLARSONALLEN, LLP
Accountancy firm EIN2022-06-30410746749

Form 5500 Responses for DEFINED BENEFIT PENSION PLAN FOR FORMER HEARTLAND BANK EMPLOYEES

2021: DEFINED BENEFIT PENSION PLAN FOR FORMER HEARTLAND BANK EMPLOYEES 2021 form 5500 responses
2021-10-01Type of plan entitySingle employer plan
2021-10-01First time form 5500 has been submittedYes
2021-10-01This submission is the final filingNo
2021-10-01This return/report is a short plan year return/report (less than 12 months)Yes
2021-10-01Plan is a collectively bargained planNo
2021-10-01Plan funding arrangement – InsuranceYes
2021-10-01Plan benefit arrangement – InsuranceYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number726879
Policy instance 1
Insurance contract or identification number726879
Number of Individuals Covered229
Insurance policy start date2021-10-01
Insurance policy end date2022-06-30
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No

Potentially related plans

Was this data useful?
If you found the data here useful, PLEASE HELP US. We are a start-up and believe in making information freely available. By linking to us, posting on twitter, facebook and linkedin about us and generally spreading the word, you'll help us to grow. Our vision is to provide high quality data about the activities of all the companies in the world and where possible make it free to use and view. Finding and integrating data from thousands of data sources is time consuming and needs lots of effort. By simply spreading the word about us, you will help us.

Please use the share buttons. It will only take a few seconds of your time. Thanks for helping

Information Disclaimer
The information provided on this website is not advice, endorsement or recommendation
The information published is supplied by third parties so we make no warranty on the accuracy, completeness etc. This information is provided "as-is". The information is subject to change as we obtain updates and corrections from the primary information sources.
You are free to use the information for your own personal research on the understanding to do so is at your own risk.

See full terms and conditions

Copyright © Market Footprint Ltd
Contact us   Datalog Company Directory
401k Lookup     VAT Lookup S3