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PENSION PLAN FOR HOURLY EMPLOYEES OF MODERN MACHINE TOOL COMPANY 401k Plan overview

Plan NamePENSION PLAN FOR HOURLY EMPLOYEES OF MODERN MACHINE TOOL COMPANY
Plan identification number 001

PENSION PLAN FOR HOURLY EMPLOYEES OF MODERN MACHINE TOOL COMPANY Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily flat dollar (includes dollars per year of service)
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
  • 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

MODERN MACHINE TOOL COMPANY has sponsored the creation of one or more 401k plans.

Company Name:MODERN MACHINE TOOL COMPANY
Employer identification number (EIN):380844480
NAIC Classification:333200

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PENSION PLAN FOR HOURLY EMPLOYEES OF MODERN MACHINE TOOL COMPANY

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01LAURIE CUNNINGHAM2023-05-09 LAURIE CUNNINGHAM2023-05-09
0012021-01-01LAURIE CUNNINGHAM2022-06-30 LAURIE CUNNINGHAM2022-06-30
0012020-01-01LAURIE CUNNINGHAM2021-07-13 LAURIE CUNNINGHAM2021-07-13
0012019-01-01LAURIE CUNNINGHAM2020-04-23 LAURIE CUNNINGHAM2020-04-23
0012018-01-01LAURIE CUNNINGHAM2019-09-05 LAURIE CUNNINGHAM2019-09-05
0012017-01-01KATHLEEN JILES2018-10-09 KATHLEEN JILES2018-10-09
0012016-01-01KATHLEEN JILES2017-09-18 KATHLEEN JILES2017-09-18
0012015-01-01GREG A. WALKER2016-10-13
0012014-01-01GREG A. WALKER2015-10-12
0012013-01-01GREG A. WALKER2014-10-08
0012012-01-01GREGORY G. WALKER2013-10-08
0012011-01-01JULIE DUNBAR2012-10-04
0012010-01-01JULIE DUNBAR2011-10-11

Plan Statistics for PENSION PLAN FOR HOURLY EMPLOYEES OF MODERN MACHINE TOOL COMPANY

401k plan membership statisitcs for PENSION PLAN FOR HOURLY EMPLOYEES OF MODERN MACHINE TOOL COMPANY

Measure Date Value
2022: PENSION PLAN FOR HOURLY EMPLOYEES OF MODERN MACHINE TOOL COMPANY 2022 401k membership
Market value of plan assets2022-12-311,366,735
Acturial value of plan assets2022-12-311,366,735
Funding target for retired participants and beneficiaries receiving payment2022-12-31473,997
Number of terminated vested participants2022-12-319
Fundng target for terminated vested participants2022-12-31166,280
Active participant vested funding target2022-12-3186,508
Number of active participants2022-12-315
Total funding liabilities for active participants2022-12-3186,508
Total participant count2022-12-3120
Total funding target for all participants2022-12-31726,785
Balance at beginning of prior year after applicable adjustments2022-12-31321
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 balance2022-12-31321
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 year2022-12-31374
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 cost2022-12-310
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: PENSION PLAN FOR HOURLY EMPLOYEES OF MODERN MACHINE TOOL COMPANY 2021 401k membership
Market value of plan assets2021-12-311,390,579
Acturial value of plan assets2021-12-311,390,579
Funding target for retired participants and beneficiaries receiving payment2021-12-31498,886
Number of terminated vested participants2021-12-318
Fundng target for terminated vested participants2021-12-31136,893
Active participant vested funding target2021-12-31198,683
Number of active participants2021-12-316
Total funding liabilities for active participants2021-12-31198,683
Total participant count2021-12-3120
Total funding target for all participants2021-12-31834,462
Balance at beginning of prior year after applicable adjustments2021-12-31277
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 balance2021-12-31277
Amount remaining of prefunding balance2021-12-310
Present value of excess contributions2021-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-310
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 year2021-12-31321
Balance of prefunding at beginning of current year2021-12-310
Total employer contributions2021-12-310
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 date2021-12-310
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 cost2021-12-310
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: PENSION PLAN FOR HOURLY EMPLOYEES OF MODERN MACHINE TOOL COMPANY 2020 401k membership
Market value of plan assets2020-12-311,240,365
Acturial value of plan assets2020-12-311,240,365
Funding target for retired participants and beneficiaries receiving payment2020-12-31510,630
Number of terminated vested participants2020-12-317
Fundng target for terminated vested participants2020-12-31121,193
Active participant vested funding target2020-12-31196,518
Number of active participants2020-12-317
Total funding liabilities for active participants2020-12-31196,518
Total participant count2020-12-3120
Total funding target for all participants2020-12-31828,341
Balance at beginning of prior year after applicable adjustments2020-12-31228
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 balance2020-12-31228
Amount remaining of prefunding balance2020-12-310
Present value of excess contributions2020-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-310
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 year2020-12-31277
Balance of prefunding at beginning of current year2020-12-310
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 date2020-12-310
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 cost2020-12-310
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 year2020-12-310
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: PENSION PLAN FOR HOURLY EMPLOYEES OF MODERN MACHINE TOOL COMPANY 2019 401k membership
Market value of plan assets2019-12-311,058,864
Acturial value of plan assets2019-12-311,058,864
Funding target for retired participants and beneficiaries receiving payment2019-12-31513,425
Number of terminated vested participants2019-12-318
Fundng target for terminated vested participants2019-12-31119,800
Active participant vested funding target2019-12-31253,182
Number of active participants2019-12-318
Total funding liabilities for active participants2019-12-31253,182
Total participant count2019-12-3122
Total funding target for all participants2019-12-31886,407
Balance at beginning of prior year after applicable adjustments2019-12-31241
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 balance2019-12-31241
Amount remaining of prefunding balance2019-12-310
Present value of excess contributions2019-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-310
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 year2019-12-31228
Balance of prefunding at beginning of current year2019-12-310
Total employer contributions2019-12-310
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 date2019-12-310
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 cost2019-12-310
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 year2019-12-310
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: PENSION PLAN FOR HOURLY EMPLOYEES OF MODERN MACHINE TOOL COMPANY 2018 401k membership
Market value of plan assets2018-12-311,161,025
Acturial value of plan assets2018-12-311,161,025
Funding target for retired participants and beneficiaries receiving payment2018-12-31523,072
Number of terminated vested participants2018-12-318
Fundng target for terminated vested participants2018-12-31110,623
Active participant vested funding target2018-12-31236,239
Number of active participants2018-12-318
Total funding liabilities for active participants2018-12-31236,239
Total participant count2018-12-3122
Total funding target for all participants2018-12-31869,934
Balance at beginning of prior year after applicable adjustments2018-12-31204
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 balance2018-12-31204
Amount remaining of prefunding balance2018-12-310
Present value of excess contributions2018-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-310
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 year2018-12-31241
Balance of prefunding at beginning of current year2018-12-310
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 date2018-12-310
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 cost2018-12-310
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 year2018-12-310
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: PENSION PLAN FOR HOURLY EMPLOYEES OF MODERN MACHINE TOOL COMPANY 2017 401k membership
Market value of plan assets2017-12-311,155,987
Acturial value of plan assets2017-12-311,155,987
Funding target for retired participants and beneficiaries receiving payment2017-12-31406,973
Number of terminated vested participants2017-12-3115
Fundng target for terminated vested participants2017-12-31417,979
Active participant vested funding target2017-12-31150,840
Number of active participants2017-12-315
Total funding liabilities for active participants2017-12-31150,840
Total participant count2017-12-3125
Total funding target for all participants2017-12-31975,792
Balance at beginning of prior year after applicable adjustments2017-12-31191
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 balance2017-12-31191
Amount remaining of prefunding balance2017-12-310
Present value of excess contributions2017-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-310
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 year2017-12-31204
Balance of prefunding at beginning of current year2017-12-310
Total employer contributions2017-12-310
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 date2017-12-310
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 cost2017-12-310
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 year2017-12-310
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: PENSION PLAN FOR HOURLY EMPLOYEES OF MODERN MACHINE TOOL COMPANY 2016 401k membership
Market value of plan assets2016-12-311,115,443
Acturial value of plan assets2016-12-311,115,443
Funding target for retired participants and beneficiaries receiving payment2016-12-31412,251
Number of terminated vested participants2016-12-3115
Fundng target for terminated vested participants2016-12-31393,285
Active participant vested funding target2016-12-31141,316
Number of active participants2016-12-315
Total funding liabilities for active participants2016-12-31141,316
Total participant count2016-12-3125
Total funding target for all participants2016-12-31946,852
Balance at beginning of prior year after applicable adjustments2016-12-31189
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 balance2016-12-31189
Amount remaining of prefunding balance2016-12-310
Present value of excess contributions2016-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-310
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 year2016-12-31191
Balance of prefunding at beginning of current year2016-12-310
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 date2016-12-310
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 cost2016-12-310
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 year2016-12-310
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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