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EMPLOYEE BENEFITS PLAN OF BIG BROTHERS BIG SISTERS OF METROPOLITAN DETROIT 401k Plan overview

Plan NameEMPLOYEE BENEFITS PLAN OF BIG BROTHERS BIG SISTERS OF METROPOLITAN DETROIT
Plan identification number 001

EMPLOYEE BENEFITS PLAN OF BIG BROTHERS BIG SISTERS OF METROPOLITAN DETROIT 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).
  • 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).
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • 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

BIG BROTHERS BIG SISTERS OF METROPOLITAN DETROIT has sponsored the creation of one or more 401k plans.

Company Name:BIG BROTHERS BIG SISTERS OF METROPOLITAN DETROIT
Employer identification number (EIN):386112533
NAIC Classification:624100
NAIC Description: Individual and Family Services

Form 5500 Filing Information

Submission information for form 5500 for 401k plan EMPLOYEE BENEFITS PLAN OF BIG BROTHERS BIG SISTERS OF METROPOLITAN DETROIT

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-11-01NICK RICE2023-06-27
0012018-01-01
0012018-01-01
0012017-01-01
0012017-01-01
0012016-01-01
0012015-01-01
0012014-01-01ROBERT L. HENNESSEY2015-10-14
0012013-01-01ROBERT L. HENNESSEY2014-10-08
0012012-01-01ROBERT L. HENNESSEY2013-10-02
0012011-01-01CHRISTINA SALACINA2012-10-03
0012010-01-01CHRISTINA SALACINA2011-10-10

Plan Statistics for EMPLOYEE BENEFITS PLAN OF BIG BROTHERS BIG SISTERS OF METROPOLITAN DETROIT

401k plan membership statisitcs for EMPLOYEE BENEFITS PLAN OF BIG BROTHERS BIG SISTERS OF METROPOLITAN DETROIT

Measure Date Value
2018: EMPLOYEE BENEFITS PLAN OF BIG BROTHERS BIG SISTERS OF METROPOLITAN DETROIT 2018 401k membership
Market value of plan assets2018-12-31169,690
Acturial value of plan assets2018-12-31169,690
Funding target for retired participants and beneficiaries receiving payment2018-12-31346,542
Number of terminated vested participants2018-12-3112
Fundng target for terminated vested participants2018-12-31131,243
Active participant vested funding target2018-12-310
Number of active participants2018-12-310
Total funding liabilities for active participants2018-12-310
Total participant count2018-12-3117
Total funding target for all participants2018-12-31477,785
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-310
Unpaid minimum required contributions for all prior years2018-12-316,153
Remaining amount of unpaid minimum required contributions2018-12-316,153
Minimum required contributions for current year target normal cost2018-12-3124,819
Net shortfall amortization installment of oustanding balance2018-12-31308,095
Total funding amount beforereflecting carryover/prefunding balances2018-12-31108,984
Additional cash requirement2018-12-31108,984
Unpaid minimum required contributions for current year2018-12-31108,984
Unpaid minimum required contributions for all years2018-12-31115,137
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-310
Amount remaining of carryover balance2018-12-310
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
Total employer contributions2018-12-310
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 date2018-12-310
Liquidity shortfalls end of Q12018-12-310
Liquidity shortfalls end of Q22018-12-310
Liquidity shortfalls end of Q32018-12-310
Liquidity shortfalls end of Q42018-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-12-310
Waiver amortization installment2018-12-310
Contributions allocatedtoward minimum required contributions for current year2018-12-310
2017: EMPLOYEE BENEFITS PLAN OF BIG BROTHERS BIG SISTERS OF METROPOLITAN DETROIT 2017 401k membership
Market value of plan assets2017-12-31344,969
Acturial value of plan assets2017-12-31344,969
Funding target for retired participants and beneficiaries receiving payment2017-12-31300,154
Number of terminated vested participants2017-12-3114
Fundng target for terminated vested participants2017-12-31351,074
Active participant vested funding target2017-12-310
Number of active participants2017-12-310
Total funding liabilities for active participants2017-12-310
Total participant count2017-12-3118
Total funding target for all participants2017-12-31651,228
Balance at beginning of prior year after applicable adjustments2017-12-310
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 balance2017-12-310
Amount remaining of prefunding balance2017-12-310
Present value of excess contributions2017-12-31131
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-31139
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 year2017-12-310
Balance of prefunding at beginning of current year2017-12-310
Total employer contributions2017-12-3193,996
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 date2017-12-3190,906
Liquidity shortfalls end of Q12017-12-310
Liquidity shortfalls end of Q22017-12-310
Liquidity shortfalls end of Q32017-12-310
Liquidity shortfalls end of Q42017-12-310
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 cost2017-12-3115,459
Net shortfall amortization installment of oustanding balance2017-12-31306,259
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-3197,059
Additional cash requirement2017-12-3197,059
Contributions allocatedtoward minimum required contributions for current year2017-12-3190,906
Unpaid minimum required contributions for current year2017-12-316,153
Unpaid minimum required contributions for all years2017-12-316,153
2016: EMPLOYEE BENEFITS PLAN OF BIG BROTHERS BIG SISTERS OF METROPOLITAN DETROIT 2016 401k membership
Market value of plan assets2016-12-31262,444
Acturial value of plan assets2016-12-31262,444
Funding target for retired participants and beneficiaries receiving payment2016-12-31299,532
Number of terminated vested participants2016-12-3114
Fundng target for terminated vested participants2016-12-31315,051
Active participant vested funding target2016-12-310
Number of active participants2016-12-310
Total funding liabilities for active participants2016-12-310
Total participant count2016-12-3118
Total funding target for all participants2016-12-31614,583
Balance at beginning of prior year after applicable adjustments2016-12-310
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 balance2016-12-310
Amount remaining of prefunding balance2016-12-310
Present value of excess contributions2016-12-317,005
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-317,446
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 year2016-12-310
Balance of prefunding at beginning of current year2016-12-310
Total employer contributions2016-12-31113,116
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 date2016-12-31104,848
Liquidity shortfalls end of Q12016-12-310
Liquidity shortfalls end of Q22016-12-310
Liquidity shortfalls end of Q32016-12-310
Liquidity shortfalls end of Q42016-12-310
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 cost2016-12-3125,994
Net shortfall amortization installment of oustanding balance2016-12-31352,139
Waiver amortization installment2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-31104,717
Additional cash requirement2016-12-31104,717
Contributions allocatedtoward minimum required contributions for current year2016-12-31104,848
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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