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J & B CLOSEOUTS INC. PENSION TRUST 401k Plan overview

Plan NameJ & B CLOSEOUTS INC. PENSION TRUST
Plan identification number 001

J & B CLOSEOUTS INC. PENSION TRUST Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • 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).
  • 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

J & B CLOSEOUTS INC. has sponsored the creation of one or more 401k plans.

Company Name:J & B CLOSEOUTS INC.
Employer identification number (EIN):463483249
NAIC Classification:423990
NAIC Description:Other Miscellaneous Durable Goods Merchant Wholesalers

Additional information about J & B CLOSEOUTS INC.

Jurisdiction of Incorporation: New York Department of State
Incorporation Date: 2013-08-21
Company Identification Number: 4449104
Legal Registered Office Address: 51 FOREST RD
Kings
MONROE
United States of America (USA)
10950

More information about J & B CLOSEOUTS INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan J & B CLOSEOUTS INC. PENSION TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01LIPA BRACH2023-10-16
0012021-01-01LIPA BRACH2022-10-13
0012020-01-01LIPA BRACH2021-10-07
0012019-01-01LIPA BRACH2020-10-13
0012018-01-01LIPA BRACH2019-10-10
0012017-01-01LIPA BRACH2018-10-03 LIPA BRACH2018-10-03

Plan Statistics for J & B CLOSEOUTS INC. PENSION TRUST

401k plan membership statisitcs for J & B CLOSEOUTS INC. PENSION TRUST

Measure Date Value
2022: J & B CLOSEOUTS INC. PENSION TRUST 2022 401k membership
Market value of plan assets2022-12-31713,200
Acturial value of plan assets2022-12-31713,200
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-314
Fundng target for terminated vested participants2022-12-3115,012
Active participant vested funding target2022-12-31615,002
Number of active participants2022-12-316
Total funding liabilities for active participants2022-12-31615,002
Total participant count2022-12-3110
Total funding target for all participants2022-12-31630,014
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-312,300
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 balance2022-12-312,300
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
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 year2022-12-312,602
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 cost2022-12-310
Net shortfall amortization installment of oustanding balance2022-12-310
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: J & B CLOSEOUTS INC. PENSION TRUST 2021 401k membership
Market value of plan assets2021-12-31635,323
Acturial value of plan assets2021-12-31635,323
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-310
Fundng target for terminated vested participants2021-12-310
Active participant vested funding target2021-12-31630,239
Number of active participants2021-12-3111
Total funding liabilities for active participants2021-12-31632,943
Total participant count2021-12-3111
Total funding target for all participants2021-12-31632,943
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-3115,016
Carryover balanced portion elected for use to offset prior years funding requirement2021-12-310
Prefunding balanced used to offset prior years funding requirement2021-12-315,597
Amount remaining of carryover balance2021-12-310
Amount remaining of prefunding balance2021-12-319,419
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 elections2021-12-318,418
Balance of carryovers at beginning of current year2021-12-310
Balance of prefunding at beginning of current year2021-12-312,300
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
Total funding amount beforereflecting carryover/prefunding balances2021-12-310
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: J & B CLOSEOUTS INC. PENSION TRUST 2020 401k membership
Market value of plan assets2020-12-31419,025
Acturial value of plan assets2020-12-31419,025
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-310
Fundng target for terminated vested participants2020-12-310
Active participant vested funding target2020-12-31353,244
Number of active participants2020-12-3113
Total funding liabilities for active participants2020-12-31359,383
Total participant count2020-12-3113
Total funding target for all participants2020-12-31359,383
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-31100,800
Carryover balanced portion elected for use to offset prior years funding requirement2020-12-310
Prefunding balanced used to offset prior years funding requirement2020-12-3187,837
Amount remaining of carryover balance2020-12-310
Amount remaining of prefunding balance2020-12-3112,963
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 year2020-12-310
Balance of prefunding at beginning of current year2020-12-3115,016
Total employer contributions2020-12-31150,000
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 date2020-12-31136,496
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 cost2020-12-31186,719
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-31142,093
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-315,597
Additional cash requirement2020-12-31136,496
Contributions allocatedtoward minimum required contributions for current year2020-12-31136,496
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: J & B CLOSEOUTS INC. PENSION TRUST 2019 401k membership
Market value of plan assets2019-12-31262,498
Acturial value of plan assets2019-12-31262,498
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-310
Fundng target for terminated vested participants2019-12-310
Active participant vested funding target2019-12-31157,704
Number of active participants2019-12-318
Total funding liabilities for active participants2019-12-31161,657
Total participant count2019-12-318
Total funding target for all participants2019-12-31161,657
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-3133,300
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 balance2019-12-3133,300
Present value of excess contributions2019-12-3192,993
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-3198,247
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-3198,247
Reductions in caryover balances due to elections or deemed elections2019-12-310
Reductions in prefunding balances due to elections or deemed elections2019-12-3127,081
Balance of carryovers at beginning of current year2019-12-310
Balance of prefunding at beginning of current year2019-12-31100,800
Total employer contributions2019-12-31104,853
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 date2019-12-3196,135
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 cost2019-12-31184,013
Net shortfall amortization installment of oustanding balance2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31183,972
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-3187,837
Additional cash requirement2019-12-3196,135
Contributions allocatedtoward minimum required contributions for current year2019-12-3196,135
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: J & B CLOSEOUTS INC. PENSION TRUST 2018 401k membership
Market value of plan assets2018-12-31167,827
Acturial value of plan assets2018-12-31167,827
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-310
Fundng target for terminated vested participants2018-12-310
Active participant vested funding target2018-12-310
Number of active participants2018-12-316
Total funding liabilities for active participants2018-12-31134,485
Total participant count2018-12-316
Total funding target for all participants2018-12-31134,485
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 contributions2018-12-3137,169
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-3137,169
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-3137,169
Reductions in caryover balances due to elections or deemed elections2018-12-310
Reductions in prefunding balances due to elections or deemed elections2018-12-313,869
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-3133,300
Total employer contributions2018-12-31119,000
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 date2018-12-31108,391
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 cost2018-12-3115,440
Net shortfall amortization installment of oustanding balance2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-3115,398
Additional cash requirement2018-12-3115,398
Contributions allocatedtoward minimum required contributions for current year2018-12-31108,391
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: J & B CLOSEOUTS INC. PENSION TRUST 2017 401k membership
Market value of plan assets2017-12-310
Acturial value of plan assets2017-12-310
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-310
Fundng target for terminated vested participants2017-12-310
Active participant vested funding target2017-12-310
Number of active participants2017-12-315
Total funding liabilities for active participants2017-12-310
Total participant count2017-12-315
Total funding target for all participants2017-12-310
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 contributions2017-12-310
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 year2017-12-310
Balance of prefunding at beginning of current year2017-12-310
Total employer contributions2017-12-31173,654
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 date2017-12-31167,821
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 cost2017-12-31130,652
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31130,652
Additional cash requirement2017-12-31130,652
Contributions allocatedtoward minimum required contributions for current year2017-12-31167,821
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310

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