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GREAT LAKES ESSENTIAL POWER CASH BALANCE PLAN 401k Plan overview

Plan NameGREAT LAKES ESSENTIAL POWER CASH BALANCE PLAN
Plan identification number 002

GREAT LAKES ESSENTIAL POWER CASH BALANCE PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily flat dollar (includes dollars per year of service)
  • 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).
  • 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.
  • 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

GREAT LAKES ESSENTIAL POWER has sponsored the creation of one or more 401k plans.

Company Name:GREAT LAKES ESSENTIAL POWER
Employer identification number (EIN):464413486
NAIC Classification:425120
NAIC Description:Wholesale Trade Agents and Brokers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan GREAT LAKES ESSENTIAL POWER CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01
0022022-01-01
0022021-01-01
0022020-01-01
0022019-01-01
0022018-01-01
0022017-01-01

Plan Statistics for GREAT LAKES ESSENTIAL POWER CASH BALANCE PLAN

401k plan membership statisitcs for GREAT LAKES ESSENTIAL POWER CASH BALANCE PLAN

Measure Date Value
2023: GREAT LAKES ESSENTIAL POWER CASH BALANCE PLAN 2023 401k membership
Market value of plan assets2023-05-09247,314
Acturial value of plan assets2023-05-09247,314
Funding target for retired participants and beneficiaries receiving payment2023-05-090
Number of terminated vested participants2023-05-091
Fundng target for terminated vested participants2023-05-092,833
Active participant vested funding target2023-05-09137,176
Number of active participants2023-05-095
Total funding liabilities for active participants2023-05-09137,176
Total participant count2023-05-096
Total funding target for all participants2023-05-09140,009
Balance at beginning of prior year after applicable adjustments2023-05-090
Prefunding balance at beginning of prior year after applicable adjustments2023-05-090
Carryover balanced portion elected for use to offset prior years funding requirement2023-05-090
Prefunding balanced used to offset prior years funding requirement2023-05-090
Amount remaining of carryover balance2023-05-090
Amount remaining of prefunding balance2023-05-090
Present value of excess contributions2023-05-090
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2023-05-090
Reductions in caryover balances due to elections or deemed elections2023-05-090
Reductions in prefunding balances due to elections or deemed elections2023-05-090
Balance of carryovers at beginning of current year2023-05-090
Balance of prefunding at beginning of current year2023-05-090
Total employer contributions2023-05-090
Total employee contributions2023-05-090
Contributions allocated toward unpaid minimum require contributions from prior years2023-05-090
Contributions made to avoid restrictions adjusted to valuation date2023-05-090
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2023-05-090
Unpaid minimum required contributions for all prior years2023-05-090
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2023-05-090
Remaining amount of unpaid minimum required contributions2023-05-090
Minimum required contributions for current year target normal cost2023-05-090
Net shortfall amortization installment of oustanding balance2023-05-090
Waiver amortization installment2023-05-090
Total funding amount beforereflecting carryover/prefunding balances2023-05-090
Additional cash requirement2023-05-090
Contributions allocatedtoward minimum required contributions for current year2023-05-090
Unpaid minimum required contributions for current year2023-05-090
Unpaid minimum required contributions for all years2023-05-090
2022: GREAT LAKES ESSENTIAL POWER CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-31247,314
Acturial value of plan assets2022-12-31247,314
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-311
Fundng target for terminated vested participants2022-12-312,706
Active participant vested funding target2022-12-31132,117
Number of active participants2022-12-315
Total funding liabilities for active participants2022-12-31132,117
Total participant count2022-12-316
Total funding target for all participants2022-12-31134,823
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
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 cost2022-12-310
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-310
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: GREAT LAKES ESSENTIAL POWER CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-31267,788
Acturial value of plan assets2021-12-31267,788
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-311
Fundng target for terminated vested participants2021-12-312,430
Active participant vested funding target2021-12-31119,760
Number of active participants2021-12-315
Total funding liabilities for active participants2021-12-31119,760
Total participant count2021-12-316
Total funding target for all participants2021-12-31122,190
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 cost2021-12-310
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 year2021-12-310
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: GREAT LAKES ESSENTIAL POWER CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-31260,043
Acturial value of plan assets2020-12-31260,043
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-311
Fundng target for terminated vested participants2020-12-318,992
Active participant vested funding target2020-12-31111,133
Number of active participants2020-12-318
Total funding liabilities for active participants2020-12-31111,133
Total participant count2020-12-319
Total funding target for all participants2020-12-31120,125
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 contributions2020-12-3166,566
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-3166,566
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 contributions2020-12-310
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
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 cost2020-12-3143,835
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: GREAT LAKES ESSENTIAL POWER CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-31156,166
Acturial value of plan assets2019-12-31156,166
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-311
Fundng target for terminated vested participants2019-12-310
Active participant vested funding target2019-12-3167,772
Number of active participants2019-12-317
Total funding liabilities for active participants2019-12-3167,772
Total participant count2019-12-318
Total funding target for all participants2019-12-3167,772
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 contributions2019-12-31114,111
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-31114,111
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 contributions2019-12-3187,633
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 date2019-12-3184,127
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 cost2019-12-31105,955
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-3117,561
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-3117,561
Contributions allocatedtoward minimum required contributions for current year2019-12-3184,127
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: GREAT LAKES ESSENTIAL POWER CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-31134,319
Acturial value of plan assets2018-12-31134,319
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 target2018-12-3183,922
Number of active participants2018-12-319
Total funding liabilities for active participants2018-12-3183,922
Total participant count2018-12-319
Total funding target for all participants2018-12-3183,922
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 contributions2018-12-3162,997
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-3162,997
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-310
Total employer contributions2018-12-31151,134
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 date2018-12-31145,189
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 cost2018-12-3181,475
Net shortfall amortization installment of oustanding balance2018-12-310
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-3131,078
Additional cash requirement2018-12-3131,078
Contributions allocatedtoward minimum required contributions for current year2018-12-31145,189
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: GREAT LAKES ESSENTIAL POWER CASH BALANCE PLAN 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 participants2017-12-318
Total funding liabilities for active participants2017-12-310
Total participant count2017-12-318
Total funding target for all participants2017-12-310
Amount remaining of carryover balance2017-12-310
Amount remaining of prefunding balance2017-12-310
Total available prior years excess cotributions available 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 contributions2017-12-31140,814
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 date2017-12-31139,578
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 cost2017-12-3176,581
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-3176,581
Additional cash requirement2017-12-3176,581
Contributions allocatedtoward minimum required contributions for current year2017-12-31139,578
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310

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