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THE RETIREMENT PLAN OF THE CITIZENS NATIONAL BANK 401k Plan overview

Plan NameTHE RETIREMENT PLAN OF THE CITIZENS NATIONAL BANK
Plan identification number 003

THE RETIREMENT PLAN OF THE CITIZENS NATIONAL BANK 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).

401k Sponsoring company profile

RIVERVIEW FINANCIAL CORPORATION has sponsored the creation of one or more 401k plans.

Company Name:RIVERVIEW FINANCIAL CORPORATION
Employer identification number (EIN):383917371
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE RETIREMENT PLAN OF THE CITIZENS NATIONAL BANK

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032022-01-01THAD COWARD2023-10-09
0032021-01-01THAD COWARD2022-07-29
0032020-01-01THAD COWARD2021-07-14
0032019-01-01THAD COWARD2020-07-31
0032018-01-01URVASHI JONES2019-08-25
0032017-01-01URVASHI JONES2018-09-06
0032016-01-01RICHARD RAUSSER2017-09-29
0032015-01-01KIRK FOX
0032015-01-01KIRK FOX

Plan Statistics for THE RETIREMENT PLAN OF THE CITIZENS NATIONAL BANK

401k plan membership statisitcs for THE RETIREMENT PLAN OF THE CITIZENS NATIONAL BANK

Measure Date Value
2022: THE RETIREMENT PLAN OF THE CITIZENS NATIONAL BANK 2022 401k membership
Market value of plan assets2022-12-314,289,945
Acturial value of plan assets2022-12-314,129,102
Funding target for retired participants and beneficiaries receiving payment2022-12-312,586,851
Number of terminated vested participants2022-12-319
Fundng target for terminated vested participants2022-12-31252,748
Active participant vested funding target2022-12-310
Number of active participants2022-12-310
Total funding liabilities for active participants2022-12-310
Total participant count2022-12-3130
Total funding target for all participants2022-12-312,839,599
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 contributions2022-12-310
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 year2022-12-310
Balance of prefunding at beginning of current year2022-12-310
Total employer contributions2022-12-310
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 date2022-12-310
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 cost2022-12-3116,181
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: THE RETIREMENT PLAN OF THE CITIZENS NATIONAL BANK 2021 401k membership
Market value of plan assets2021-12-314,355,282
Acturial value of plan assets2021-12-313,919,754
Funding target for retired participants and beneficiaries receiving payment2021-12-312,648,151
Number of terminated vested participants2021-12-318
Fundng target for terminated vested participants2021-12-31216,077
Active participant vested funding target2021-12-3112,579
Number of active participants2021-12-311
Total funding liabilities for active participants2021-12-3113,131
Total participant count2021-12-3130
Total funding target for all participants2021-12-312,877,359
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 contributions2021-12-310
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 year2021-12-310
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 cost2021-12-312,707
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: THE RETIREMENT PLAN OF THE CITIZENS NATIONAL BANK 2020 401k membership
Market value of plan assets2020-12-313,922,507
Acturial value of plan assets2020-12-313,723,586
Funding target for retired participants and beneficiaries receiving payment2020-12-312,793,924
Number of terminated vested participants2020-12-317
Fundng target for terminated vested participants2020-12-31177,357
Active participant vested funding target2020-12-3143,188
Number of active participants2020-12-312
Total funding liabilities for active participants2020-12-3144,960
Total participant count2020-12-3130
Total funding target for all participants2020-12-313,016,241
Balance at beginning of prior year after applicable adjustments2020-12-31184,396
Prefunding balance at beginning of prior year after applicable adjustments2020-12-31534,953
Carryover balanced portion elected for use to offset prior years funding requirement2020-12-3111,084
Prefunding balanced used to offset prior years funding requirement2020-12-310
Amount remaining of carryover balance2020-12-31173,312
Amount remaining of prefunding balance2020-12-31534,953
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 elections2020-12-31210,747
Reductions in prefunding balances due to elections or deemed elections2020-12-31650,503
Balance of carryovers at beginning of current year2020-12-310
Balance of prefunding at beginning of current year2020-12-310
Total employer contributions2020-12-310
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 date2020-12-310
Liquidity shortfalls end of Q12020-12-310
Liquidity shortfalls end of Q22020-12-310
Liquidity shortfalls end of Q32020-12-310
Liquidity shortfalls end of Q42020-12-310
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 cost2020-12-3119,670
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: THE RETIREMENT PLAN OF THE CITIZENS NATIONAL BANK 2019 401k membership
Market value of plan assets2019-12-313,524,458
Acturial value of plan assets2019-12-313,693,622
Funding target for retired participants and beneficiaries receiving payment2019-12-312,869,948
Number of terminated vested participants2019-12-316
Fundng target for terminated vested participants2019-12-31154,199
Active participant vested funding target2019-12-3148,049
Number of active participants2019-12-313
Total funding liabilities for active participants2019-12-3149,862
Total participant count2019-12-3130
Total funding target for all participants2019-12-313,074,009
Balance at beginning of prior year after applicable adjustments2019-12-31204,790
Prefunding balance at beginning of prior year after applicable adjustments2019-12-31562,812
Carryover balanced portion elected for use to offset prior years funding requirement2019-12-3110,791
Prefunding balanced used to offset prior years funding requirement2019-12-310
Amount remaining of carryover balance2019-12-31193,999
Amount remaining of prefunding balance2019-12-31562,812
Present value of excess contributions2019-12-31191,476
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-31200,970
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 year2019-12-31184,396
Balance of prefunding at beginning of current year2019-12-31534,953
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
Liquidity shortfalls end of Q12019-12-310
Liquidity shortfalls end of Q22019-12-310
Liquidity shortfalls end of Q32019-12-310
Liquidity shortfalls end of Q42019-12-310
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 cost2019-12-3110,936
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-3110,936
Carryover balance elected to use to offset funding requirement2019-12-3111,084
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: THE RETIREMENT PLAN OF THE CITIZENS NATIONAL BANK 2018 401k membership
Market value of plan assets2018-12-313,807,824
Acturial value of plan assets2018-12-313,591,423
Funding target for retired participants and beneficiaries receiving payment2018-12-312,805,685
Number of terminated vested participants2018-12-316
Fundng target for terminated vested participants2018-12-31136,508
Active participant vested funding target2018-12-3141,363
Number of active participants2018-12-313
Total funding liabilities for active participants2018-12-3143,084
Total participant count2018-12-3130
Total funding target for all participants2018-12-312,985,277
Balance at beginning of prior year after applicable adjustments2018-12-31177,047
Prefunding balance at beginning of prior year after applicable adjustments2018-12-31486,567
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 balance2018-12-31177,047
Amount remaining of prefunding balance2018-12-31486,567
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 year2018-12-31204,790
Balance of prefunding at beginning of current year2018-12-31562,812
Total employer contributions2018-12-31208,729
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 date2018-12-31191,476
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 cost2018-12-3110,791
Net shortfall amortization installment of oustanding balance2018-12-310
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-3110,791
Carryover balance elected to use to offset funding requirement2018-12-3110,791
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-310
Contributions allocatedtoward minimum required contributions for current year2018-12-31191,476
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: THE RETIREMENT PLAN OF THE CITIZENS NATIONAL BANK 2017 401k membership
Market value of plan assets2017-12-313,572,262
Acturial value of plan assets2017-12-313,667,843
Funding target for retired participants and beneficiaries receiving payment2017-12-312,686,592
Number of terminated vested participants2017-12-317
Fundng target for terminated vested participants2017-12-31190,763
Active participant vested funding target2017-12-31104,400
Number of active participants2017-12-314
Total funding liabilities for active participants2017-12-31107,439
Total participant count2017-12-3129
Total funding target for all participants2017-12-312,984,794
Balance at beginning of prior year after applicable adjustments2017-12-31165,233
Prefunding balance at beginning of prior year after applicable adjustments2017-12-31454,099
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 balance2017-12-31165,233
Amount remaining of prefunding balance2017-12-31454,099
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 year2017-12-31177,047
Balance of prefunding at beginning of current year2017-12-31486,567
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: THE RETIREMENT PLAN OF THE CITIZENS NATIONAL BANK 2016 401k membership
Market value of plan assets2016-12-313,601,512
Acturial value of plan assets2016-12-313,720,248
Funding target for retired participants and beneficiaries receiving payment2016-12-312,559,741
Number of terminated vested participants2016-12-319
Fundng target for terminated vested participants2016-12-31307,425
Active participant vested funding target2016-12-3193,413
Number of active participants2016-12-314
Total funding liabilities for active participants2016-12-3196,503
Total participant count2016-12-3129
Total funding target for all participants2016-12-312,963,669
Balance at beginning of prior year after applicable adjustments2016-12-31167,937
Prefunding balance at beginning of prior year after applicable adjustments2016-12-31461,530
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 balance2016-12-31167,937
Amount remaining of prefunding balance2016-12-31461,530
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 year2016-12-31165,233
Balance of prefunding at beginning of current year2016-12-31454,099
Total employer contributions2016-12-310
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 date2016-12-310
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
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
2015: THE RETIREMENT PLAN OF THE CITIZENS NATIONAL BANK 2015 401k membership
Total participants, beginning-of-year2015-01-0130
Total number of active participants reported on line 7a of the Form 55002015-01-014
Number of retired or separated participants receiving benefits2015-01-0115
Number of other retired or separated participants entitled to future benefits2015-01-019
Total of all active and inactive participants2015-01-0128
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-011
Total participants2015-01-0129

Financial Data on THE RETIREMENT PLAN OF THE CITIZENS NATIONAL BANK

Measure Date Value
2015 : THE RETIREMENT PLAN OF THE CITIZENS NATIONAL BANK 2015 401k financial data
Total income from all sources2015-12-31$-61,438
Expenses. Total of all expenses incurred2015-12-31$310,706
Benefits paid (including direct rollovers)2015-12-31$279,592
Total plan assets at end of year2015-12-31$3,601,512
Total plan assets at beginning of year2015-12-31$3,973,656
Value of fidelity bond covering the plan2015-12-31$1,825,000
Other income received2015-12-31$-61,438
Net income (gross income less expenses)2015-12-31$-372,144
Net plan assets at end of year (total assets less liabilities)2015-12-31$3,601,512
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$3,973,656
Expenses. Administrative service providers (salaries,fees and commissions)2015-12-31$31,114
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2015-12-31$0

Form 5500 Responses for THE RETIREMENT PLAN OF THE CITIZENS NATIONAL BANK

2015: THE RETIREMENT PLAN OF THE CITIZENS NATIONAL BANK 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingNo
2015-01-01This return/report is a short plan year return/report (less than 12 months)No
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes

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