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CENTER FOR TRANSFORMATION & INNOVATION, LLC CASH BALANCE PLAN 401k Plan overview

Plan NameCENTER FOR TRANSFORMATION & INNOVATION, LLC CASH BALANCE PLAN
Plan identification number 002

CENTER FOR TRANSFORMATION & INNOVATION, LLC CASH BALANCE PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Cash balance or similar plan - Plan has a "cash balance" formula. For this purpose, a "cash balance" formula is a benefit formula in a defined benefit plan by whatever name (for example, personal account plan, pension equity plan, life cycle plan, cash account plan, etc.) that rather than, or in addition to, expressing the accrued benefit as a life annuity commencing at normal retirement age, defines benefits for each employee in terms more common to a defined contribution plan such as a single sum distribution amount (for example, 10 percent of final average pay times years of service, or the amount of the employee's hypothetical account balance).
  • 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

CENTER FOR TRANSFORMATION & INNOVATION, LLC has sponsored the creation of one or more 401k plans.

Company Name:CENTER FOR TRANSFORMATION & INNOVATION, LLC
Employer identification number (EIN):453980179
NAIC Classification:541990
NAIC Description:All Other Professional, Scientific, and Technical Services

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CENTER FOR TRANSFORMATION & INNOVATION, LLC CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01RANA KASTI2023-10-02
0022021-01-01RANA KASTI2022-10-05
0022020-01-01RANA KASTI2021-09-20
0022019-01-01RANA KASTI2020-10-01
0022018-01-01RANA KASTI2019-10-01
0022017-01-01RANA KASTI2018-09-27
0022016-01-01RANA KASTI2017-10-05

Plan Statistics for CENTER FOR TRANSFORMATION & INNOVATION, LLC CASH BALANCE PLAN

401k plan membership statisitcs for CENTER FOR TRANSFORMATION & INNOVATION, LLC CASH BALANCE PLAN

Measure Date Value
2022: CENTER FOR TRANSFORMATION & INNOVATION, LLC CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-31895,394
Acturial value of plan assets2022-12-31895,394
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-315
Fundng target for terminated vested participants2022-12-3134,687
Active participant vested funding target2022-12-31607,104
Number of active participants2022-12-317
Total funding liabilities for active participants2022-12-31607,104
Total participant count2022-12-3112
Total funding target for all participants2022-12-31641,791
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 contributions2022-12-31254,605
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31254,605
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 contributions2022-12-31215,590
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 date2022-12-31209,963
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 cost2022-12-31113,138
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 year2022-12-31209,963
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: CENTER FOR TRANSFORMATION & INNOVATION, LLC CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-31699,017
Acturial value of plan assets2021-12-31699,017
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-314
Fundng target for terminated vested participants2021-12-3130,116
Active participant vested funding target2021-12-31568,096
Number of active participants2021-12-318
Total funding liabilities for active participants2021-12-31568,096
Total participant count2021-12-3112
Total funding target for all participants2021-12-31598,212
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 contributions2021-12-3149,958
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-3149,958
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 contributions2021-12-31260,000
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 date2021-12-31254,605
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 year2021-12-31254,605
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: CENTER FOR TRANSFORMATION & INNOVATION, LLC CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-31565,257
Acturial value of plan assets2020-12-31565,257
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-313
Fundng target for terminated vested participants2020-12-3123,923
Active participant vested funding target2020-12-31482,647
Number of active participants2020-12-3111
Total funding liabilities for active participants2020-12-31482,647
Total participant count2020-12-3114
Total funding target for all participants2020-12-31506,570
Balance at beginning of prior year after applicable adjustments2020-12-310
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 balance2020-12-310
Amount remaining of prefunding balance2020-12-310
Present value of excess contributions2020-12-3139,616
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-3139,616
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 year2020-12-310
Balance of prefunding at beginning of current year2020-12-310
Total employer contributions2020-12-3152,616
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 date2020-12-3151,078
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 cost2020-12-3159,807
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-311,120
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-311,120
Contributions allocatedtoward minimum required contributions for current year2020-12-3151,078
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: CENTER FOR TRANSFORMATION & INNOVATION, LLC CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-31422,184
Acturial value of plan assets2019-12-31422,184
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-313
Fundng target for terminated vested participants2019-12-3123,123
Active participant vested funding target2019-12-31363,934
Number of active participants2019-12-319
Total funding liabilities for active participants2019-12-31363,934
Total participant count2019-12-3112
Total funding target for all participants2019-12-31387,057
Balance at beginning of prior year after applicable adjustments2019-12-310
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 balance2019-12-310
Amount remaining of prefunding balance2019-12-310
Present value of excess contributions2019-12-314,844
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-314,844
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 year2019-12-310
Balance of prefunding at beginning of current year2019-12-310
Total employer contributions2019-12-31110,157
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 date2019-12-31106,138
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 cost2019-12-31101,649
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-3166,522
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-3166,522
Contributions allocatedtoward minimum required contributions for current year2019-12-31106,138
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: CENTER FOR TRANSFORMATION & INNOVATION, LLC CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-31240,666
Acturial value of plan assets2018-12-31240,666
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-312
Fundng target for terminated vested participants2018-12-3110,490
Active participant vested funding target2018-12-31236,766
Number of active participants2018-12-3110
Total funding liabilities for active participants2018-12-31236,766
Total participant count2018-12-3112
Total funding target for all participants2018-12-31247,256
Balance at beginning of prior year after applicable adjustments2018-12-310
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 balance2018-12-310
Amount remaining of prefunding balance2018-12-310
Present value of excess contributions2018-12-3130,168
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-3130,168
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 year2018-12-310
Balance of prefunding at beginning of current year2018-12-310
Total employer contributions2018-12-31121,180
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 date2018-12-31118,215
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 cost2018-12-31112,295
Net shortfall amortization installment of oustanding balance2018-12-316,590
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31113,371
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-31113,371
Contributions allocatedtoward minimum required contributions for current year2018-12-31118,215
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: CENTER FOR TRANSFORMATION & INNOVATION, LLC CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-12-31129,621
Acturial value of plan assets2017-12-31129,621
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-312
Fundng target for terminated vested participants2017-12-316,615
Active participant vested funding target2017-12-31108,008
Number of active participants2017-12-3111
Total funding liabilities for active participants2017-12-31108,733
Total participant count2017-12-3113
Total funding target for all participants2017-12-31115,348
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 contributions2017-12-3117,541
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3117,541
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 contributions2017-12-31133,087
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 date2017-12-31129,977
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 cost2017-12-31114,082
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-3199,809
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-3199,809
Contributions allocatedtoward minimum required contributions for current year2017-12-31129,977
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: CENTER FOR TRANSFORMATION & INNOVATION, LLC CASH BALANCE PLAN 2016 401k membership
Market value of plan assets2016-12-310
Acturial value of plan assets2016-12-310
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-310
Fundng target for terminated vested participants2016-12-310
Active participant vested funding target2016-12-310
Number of active participants2016-12-319
Total funding liabilities for active participants2016-12-310
Total participant count2016-12-319
Total funding target for all participants2016-12-310
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 contributions2016-12-310
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
Balance of carryovers at beginning of current year2016-12-310
Balance of prefunding at beginning of current year2016-12-310
Total employer contributions2016-12-31121,338
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 date2016-12-31118,060
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 cost2016-12-31100,519
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 balances2016-12-31100,519
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-31100,519
Contributions allocatedtoward minimum required contributions for current year2016-12-31118,060
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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