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IOWA STATE BANK & TRUST COMPANY DEFINED BENEFIT PLAN 401k Plan overview

Plan NameIOWA STATE BANK & TRUST COMPANY DEFINED BENEFIT PLAN
Plan identification number 001

IOWA STATE BANK & TRUST COMPANY DEFINED BENEFIT PLAN 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).
  • Plan covered by PBGC that was terminated and closed out for PBGC purposes - Before the end of the plan year (or a prior plan year), (1) the plan terminated in a standard (or distress) termination and completed the distribution of plan assets in satisfaction of all benefit liabilities (or all ERISA Title IV benefits for distress termination); or (2) a trustee was appointed for a terminated plan pursuant to ERISA section 4042.
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

IOWA STATE BANK & TRUST CO. has sponsored the creation of one or more 401k plans.

Company Name:IOWA STATE BANK & TRUST CO.
Employer identification number (EIN):420335347
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan IOWA STATE BANK & TRUST COMPANY DEFINED BENEFIT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-12-31DAVID EASTBURN2023-12-15 DAVID EASTBURN2023-12-15
0012021-12-31DAVID EASTBURN2023-05-24 DAVID EASTBURN2023-06-08
0012020-12-31DAVID EASTBURN2022-10-12 DAVID EASTBURN2022-10-12
0012019-12-31DAVID EASTBURN2021-03-02 DAVID EASTBURN2021-03-02
0012013-12-31DAVID EASTBURN2015-06-12 DAVID EASTBURN2015-06-12
0012012-12-31DAVID EASTBURN2014-03-13 DAVID EASTBURN2014-03-13
0012011-12-31DAVID EASTBURN2013-06-17 DAVID EASTBURN2013-06-17

Plan Statistics for IOWA STATE BANK & TRUST COMPANY DEFINED BENEFIT PLAN

401k plan membership statisitcs for IOWA STATE BANK & TRUST COMPANY DEFINED BENEFIT PLAN

Measure Date Value
2022: IOWA STATE BANK & TRUST COMPANY DEFINED BENEFIT PLAN 2022 401k membership
Market value of plan assets2022-12-306,867,963
Acturial value of plan assets2022-12-306,676,913
Funding target for retired participants and beneficiaries receiving payment2022-12-302,940,242
Number of terminated vested participants2022-12-3018
Fundng target for terminated vested participants2022-12-30850,814
Active participant vested funding target2022-12-30906,785
Number of active participants2022-12-306
Total funding liabilities for active participants2022-12-30909,210
Total participant count2022-12-3059
Total funding target for all participants2022-12-304,700,266
Balance at beginning of prior year after applicable adjustments2022-12-300
Prefunding balance at beginning of prior year after applicable adjustments2022-12-300
Carryover balanced portion elected for use to offset prior years funding requirement2022-12-300
Prefunding balanced used to offset prior years funding requirement2022-12-300
Amount remaining of carryover balance2022-12-300
Amount remaining of prefunding balance2022-12-300
Present value of excess contributions2022-12-3041,357
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-3043,685
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-300
Reductions in caryover balances due to elections or deemed elections2022-12-300
Reductions in prefunding balances due to elections or deemed elections2022-12-300
Balance of carryovers at beginning of current year2022-12-300
Balance of prefunding at beginning of current year2022-12-300
Total employer contributions2022-12-3042,792
Contributions allocated toward unpaid minimum require contributions from prior years2022-12-300
Contributions made to avoid restrictions adjusted to valuation date2022-12-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-12-3041,401
Unpaid minimum required contributions for all prior years2022-12-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-12-300
Remaining amount of unpaid minimum required contributions2022-12-300
Minimum required contributions for current year target normal cost2022-12-3020,000
Net shortfall amortization installment of oustanding balance2022-12-300
Waiver amortization installment2022-12-300
Total funding amount beforereflecting carryover/prefunding balances2022-12-300
Carryover balance elected to use to offset funding requirement2022-12-300
Prefunding balance elected to use to offset funding requirement2022-12-300
Additional cash requirement2022-12-300
Contributions allocatedtoward minimum required contributions for current year2022-12-3041,401
Unpaid minimum required contributions for current year2022-12-300
Unpaid minimum required contributions for all years2022-12-300
2021: IOWA STATE BANK & TRUST COMPANY DEFINED BENEFIT PLAN 2021 401k membership
Market value of plan assets2021-12-306,681,652
Acturial value of plan assets2021-12-306,325,741
Funding target for retired participants and beneficiaries receiving payment2021-12-302,531,903
Number of terminated vested participants2021-12-3020
Fundng target for terminated vested participants2021-12-301,230,887
Active participant vested funding target2021-12-30864,551
Number of active participants2021-12-306
Total funding liabilities for active participants2021-12-30867,423
Total participant count2021-12-3059
Total funding target for all participants2021-12-304,630,213
Balance at beginning of prior year after applicable adjustments2021-12-300
Prefunding balance at beginning of prior year after applicable adjustments2021-12-300
Carryover balanced portion elected for use to offset prior years funding requirement2021-12-300
Prefunding balanced used to offset prior years funding requirement2021-12-300
Amount remaining of carryover balance2021-12-300
Amount remaining of prefunding balance2021-12-300
Present value of excess contributions2021-12-30216,789
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-30228,561
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-300
Reductions in caryover balances due to elections or deemed elections2021-12-300
Reductions in prefunding balances due to elections or deemed elections2021-12-300
Balance of carryovers at beginning of current year2021-12-300
Balance of prefunding at beginning of current year2021-12-300
Total employer contributions2021-12-3042,792
Total employee contributions2021-12-300
Contributions allocated toward unpaid minimum require contributions from prior years2021-12-300
Contributions made to avoid restrictions adjusted to valuation date2021-12-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-12-3041,357
Unpaid minimum required contributions for all prior years2021-12-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-12-300
Remaining amount of unpaid minimum required contributions2021-12-300
Minimum required contributions for current year target normal cost2021-12-3020,000
Net shortfall amortization installment of oustanding balance2021-12-300
Waiver amortization installment2021-12-300
Total funding amount beforereflecting carryover/prefunding balances2021-12-300
Carryover balance elected to use to offset funding requirement2021-12-300
Prefunding balance elected to use to offset funding requirement2021-12-300
Additional cash requirement2021-12-300
Contributions allocatedtoward minimum required contributions for current year2021-12-3041,357
Unpaid minimum required contributions for current year2021-12-300
Unpaid minimum required contributions for all years2021-12-300
2020: IOWA STATE BANK & TRUST COMPANY DEFINED BENEFIT PLAN 2020 401k membership
Market value of plan assets2020-12-306,109,046
Acturial value of plan assets2020-12-305,952,258
Funding target for retired participants and beneficiaries receiving payment2020-12-302,367,739
Number of terminated vested participants2020-12-3021
Fundng target for terminated vested participants2020-12-301,141,660
Active participant vested funding target2020-12-301,186,317
Number of active participants2020-12-309
Total funding liabilities for active participants2020-12-301,191,959
Total participant count2020-12-3059
Total funding target for all participants2020-12-304,701,358
Balance at beginning of prior year after applicable adjustments2020-12-300
Prefunding balance at beginning of prior year after applicable adjustments2020-12-300
Carryover balanced portion elected for use to offset prior years funding requirement2020-12-300
Prefunding balanced used to offset prior years funding requirement2020-12-300
Amount remaining of carryover balance2020-12-300
Amount remaining of prefunding balance2020-12-300
Present value of excess contributions2020-12-30681,189
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-30719,540
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-300
Reductions in caryover balances due to elections or deemed elections2020-12-300
Reductions in prefunding balances due to elections or deemed elections2020-12-300
Balance of carryovers at beginning of current year2020-12-300
Balance of prefunding at beginning of current year2020-12-300
Total employer contributions2020-12-30224,000
Total employee contributions2020-12-300
Contributions allocated toward unpaid minimum require contributions from prior years2020-12-300
Contributions made to avoid restrictions adjusted to valuation date2020-12-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-12-30216,789
Unpaid minimum required contributions for all prior years2020-12-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-12-300
Remaining amount of unpaid minimum required contributions2020-12-300
Minimum required contributions for current year target normal cost2020-12-3019,000
Net shortfall amortization installment of oustanding balance2020-12-300
Waiver amortization installment2020-12-300
Total funding amount beforereflecting carryover/prefunding balances2020-12-300
Carryover balance elected to use to offset funding requirement2020-12-300
Prefunding balance elected to use to offset funding requirement2020-12-300
Additional cash requirement2020-12-300
Contributions allocatedtoward minimum required contributions for current year2020-12-30216,789
Unpaid minimum required contributions for current year2020-12-300
Unpaid minimum required contributions for all years2020-12-300
2019: IOWA STATE BANK & TRUST COMPANY DEFINED BENEFIT PLAN 2019 401k membership
Market value of plan assets2019-12-304,894,431
Acturial value of plan assets2019-12-305,124,241
Funding target for retired participants and beneficiaries receiving payment2019-12-302,106,095
Number of terminated vested participants2019-12-3023
Fundng target for terminated vested participants2019-12-301,131,436
Active participant vested funding target2019-12-301,346,034
Number of active participants2019-12-3011
Total funding liabilities for active participants2019-12-301,353,348
Total participant count2019-12-3059
Total funding target for all participants2019-12-304,590,879
Balance at beginning of prior year after applicable adjustments2019-12-300
Prefunding balance at beginning of prior year after applicable adjustments2019-12-300
Carryover balanced portion elected for use to offset prior years funding requirement2019-12-300
Prefunding balanced used to offset prior years funding requirement2019-12-300
Amount remaining of carryover balance2019-12-300
Amount remaining of prefunding balance2019-12-300
Present value of excess contributions2019-12-30151,621
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-30160,445
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-300
Reductions in caryover balances due to elections or deemed elections2019-12-300
Reductions in prefunding balances due to elections or deemed elections2019-12-300
Balance of carryovers at beginning of current year2019-12-300
Balance of prefunding at beginning of current year2019-12-300
Total employer contributions2019-12-30708,250
Total employee contributions2019-12-300
Contributions allocated toward unpaid minimum require contributions from prior years2019-12-300
Contributions made to avoid restrictions adjusted to valuation date2019-12-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-12-30681,189
Unpaid minimum required contributions for all prior years2019-12-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-12-300
Remaining amount of unpaid minimum required contributions2019-12-300
Minimum required contributions for current year target normal cost2019-12-3019,000
Net shortfall amortization installment of oustanding balance2019-12-300
Waiver amortization installment2019-12-300
Total funding amount beforereflecting carryover/prefunding balances2019-12-300
Carryover balance elected to use to offset funding requirement2019-12-300
Prefunding balance elected to use to offset funding requirement2019-12-300
Additional cash requirement2019-12-300
Contributions allocatedtoward minimum required contributions for current year2019-12-30681,189
Unpaid minimum required contributions for current year2019-12-300
Unpaid minimum required contributions for all years2019-12-300
2018: IOWA STATE BANK & TRUST COMPANY DEFINED BENEFIT PLAN 2018 401k membership
Market value of plan assets2018-12-305,157,240
Acturial value of plan assets2018-12-304,993,198
Funding target for retired participants and beneficiaries receiving payment2018-12-301,901,924
Number of terminated vested participants2018-12-3022
Fundng target for terminated vested participants2018-12-301,124,870
Active participant vested funding target2018-12-301,237,185
Number of active participants2018-12-3013
Total funding liabilities for active participants2018-12-301,252,451
Total participant count2018-12-3060
Total funding target for all participants2018-12-304,279,245
Balance at beginning of prior year after applicable adjustments2018-12-300
Prefunding balance at beginning of prior year after applicable adjustments2018-12-300
Carryover balanced portion elected for use to offset prior years funding requirement2018-12-300
Prefunding balanced used to offset prior years funding requirement2018-12-300
Amount remaining of carryover balance2018-12-300
Amount remaining of prefunding balance2018-12-300
Present value of excess contributions2018-12-30231,186
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-30245,127
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-300
Reductions in caryover balances due to elections or deemed elections2018-12-300
Reductions in prefunding balances due to elections or deemed elections2018-12-300
Balance of carryovers at beginning of current year2018-12-300
Balance of prefunding at beginning of current year2018-12-300
Total employer contributions2018-12-30157,000
Total employee contributions2018-12-300
Contributions allocated toward unpaid minimum require contributions from prior years2018-12-300
Contributions made to avoid restrictions adjusted to valuation date2018-12-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-12-30151,621
Unpaid minimum required contributions for all prior years2018-12-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-12-300
Remaining amount of unpaid minimum required contributions2018-12-300
Minimum required contributions for current year target normal cost2018-12-3019,000
Net shortfall amortization installment of oustanding balance2018-12-300
Waiver amortization installment2018-12-300
Total funding amount beforereflecting carryover/prefunding balances2018-12-300
Carryover balance elected to use to offset funding requirement2018-12-300
Prefunding balance elected to use to offset funding requirement2018-12-300
Additional cash requirement2018-12-300
Contributions allocatedtoward minimum required contributions for current year2018-12-30151,621
Unpaid minimum required contributions for current year2018-12-300
Unpaid minimum required contributions for all years2018-12-300
2017: IOWA STATE BANK & TRUST COMPANY DEFINED BENEFIT PLAN 2017 401k membership
Market value of plan assets2017-12-304,613,675
Acturial value of plan assets2017-12-304,733,795
Funding target for retired participants and beneficiaries receiving payment2017-12-301,800,584
Number of terminated vested participants2017-12-3024
Fundng target for terminated vested participants2017-12-301,115,197
Active participant vested funding target2017-12-301,185,665
Number of active participants2017-12-3014
Total funding liabilities for active participants2017-12-301,205,245
Total participant count2017-12-3060
Total funding target for all participants2017-12-304,121,026
Balance at beginning of prior year after applicable adjustments2017-12-300
Prefunding balance at beginning of prior year after applicable adjustments2017-12-300
Carryover balanced portion elected for use to offset prior years funding requirement2017-12-300
Prefunding balanced used to offset prior years funding requirement2017-12-300
Amount remaining of carryover balance2017-12-300
Amount remaining of prefunding balance2017-12-300
Present value of excess contributions2017-12-3053,548
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3056,889
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-12-300
Reductions in caryover balances due to elections or deemed elections2017-12-300
Reductions in prefunding balances due to elections or deemed elections2017-12-300
Balance of carryovers at beginning of current year2017-12-300
Balance of prefunding at beginning of current year2017-12-300
Total employer contributions2017-12-30242,000
Total employee contributions2017-12-300
Contributions allocated toward unpaid minimum require contributions from prior years2017-12-300
Contributions made to avoid restrictions adjusted to valuation date2017-12-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-12-30231,186
Unpaid minimum required contributions for all prior years2017-12-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-12-300
Remaining amount of unpaid minimum required contributions2017-12-300
Minimum required contributions for current year target normal cost2017-12-3019,000
Net shortfall amortization installment of oustanding balance2017-12-300
Waiver amortization installment2017-12-300
Total funding amount beforereflecting carryover/prefunding balances2017-12-300
Carryover balance elected to use to offset funding requirement2017-12-300
Prefunding balance elected to use to offset funding requirement2017-12-300
Additional cash requirement2017-12-300
Contributions allocatedtoward minimum required contributions for current year2017-12-30231,186
Unpaid minimum required contributions for current year2017-12-300
Unpaid minimum required contributions for all years2017-12-300

Financial Data on IOWA STATE BANK & TRUST COMPANY DEFINED BENEFIT PLAN

Measure Date Value
2011 : IOWA STATE BANK & TRUST COMPANY DEFINED BENEFIT PLAN 2011 401k financial data
Transfers to/from the plan2011-12-30$0
Total plan liabilities at end of year2011-12-30$0
Total plan liabilities at beginning of year2011-12-30$0
Total income from all sources2011-12-30$153,940
Expenses. Total of all expenses incurred2011-12-30$219,103
Benefits paid (including direct rollovers)2011-12-30$201,102
Total plan assets at end of year2011-12-30$1,656,423
Total plan assets at beginning of year2011-12-30$1,721,586
Value of fidelity bond covering the plan2011-12-30$2,275,000
Total contributions received or receivable from participants2011-12-30$0
Expenses. Other expenses not covered elsewhere2011-12-30$0
Contributions received from other sources (not participants or employers)2011-12-30$0
Other income received2011-12-30$118,673
Noncash contributions received2011-12-30$0
Net income (gross income less expenses)2011-12-30$-65,163
Net plan assets at end of year (total assets less liabilities)2011-12-30$1,656,423
Net plan assets at beginning of year (total assets less liabilities)2011-12-30$1,721,586
Value of loans by the plan or fixed income obligations due to the plan which were in default or classified as uncollectible at the close of the plan year2011-12-30$0
Value of leases to which the plan was a party in default or classified as uncollectible during the plan year2011-12-30$0
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022011-12-30$0
Total contributions received or receivable from employer(s)2011-12-30$35,267
Value of certain deemed distributions of participant loans2011-12-30$0
Value of corrective distributions2011-12-30$0
Expenses. Administrative service providers (salaries,fees and commissions)2011-12-30$18,001
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-30$0

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number435828
Policy instance 1

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