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PROGRESSIVE INDUSTRIES, INC. RETIREMENT PLAN 401k Plan overview

Plan NamePROGRESSIVE INDUSTRIES, INC. RETIREMENT PLAN
Plan identification number 001

PROGRESSIVE INDUSTRIES, INC. RETIREMENT PLAN Benefits

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

PROGRESSIVE INDUSTRIES, INC. has sponsored the creation of one or more 401k plans.

Company Name:PROGRESSIVE INDUSTRIES, INC.
Employer identification number (EIN):550536594
NAIC Classification:811310
NAIC Description:Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PROGRESSIVE INDUSTRIES, INC. RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-07-01GREGORY CYPHERT2024-03-25
0012021-07-01GREGORY CYPHERT2023-03-31
0012020-07-01GREGORY CYPHERT2022-04-13
0012019-07-01GREGORY CYPHERT2021-04-08
0012018-07-01GREGORY CYPHERT2020-03-26
0012017-07-01GREGORY CYPHERT2019-04-08
0012016-07-01GREGORY CYPHERT2018-04-17
0012015-07-01GREGORY CYPHERT2017-04-10
0012014-07-01GREGORY CYPHERT2016-04-11
0012013-07-01GREGORY CYPHERT2015-03-26
0012012-07-01GREGORY CYPHERT2014-04-07
0012012-06-01GREGORY CYPHERT2013-11-13
0012011-07-01GREGORY CYPHERT2013-03-15
0012011-06-01GREGORY CYPHERT2013-02-27
0012010-07-01GREGORY CYPHERT2012-03-30
0012010-06-01GREGORY CYPHERT2012-03-06

Plan Statistics for PROGRESSIVE INDUSTRIES, INC. RETIREMENT PLAN

401k plan membership statisitcs for PROGRESSIVE INDUSTRIES, INC. RETIREMENT PLAN

Measure Date Value
2022: PROGRESSIVE INDUSTRIES, INC. RETIREMENT PLAN 2022 401k membership
Market value of plan assets2022-06-30197,785
Acturial value of plan assets2022-06-30197,785
Funding target for retired participants and beneficiaries receiving payment2022-06-30161,748
Number of terminated vested participants2022-06-3024
Fundng target for terminated vested participants2022-06-30288,396
Active participant vested funding target2022-06-3018,175
Number of active participants2022-06-302
Total funding liabilities for active participants2022-06-3018,175
Total participant count2022-06-3034
Total funding target for all participants2022-06-30468,319
Balance at beginning of prior year after applicable adjustments2022-06-300
Prefunding balance at beginning of prior year after applicable adjustments2022-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2022-06-300
Prefunding balanced used to offset prior years funding requirement2022-06-300
Amount remaining of carryover balance2022-06-300
Amount remaining of prefunding balance2022-06-300
Present value of excess contributions2022-06-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-06-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-06-300
Reductions in caryover balances due to elections or deemed elections2022-06-300
Reductions in prefunding balances due to elections or deemed elections2022-06-300
Balance of carryovers at beginning of current year2022-06-300
Balance of prefunding at beginning of current year2022-06-300
Total employer contributions2022-06-300
Total employee contributions2022-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2022-06-300
Contributions made to avoid restrictions adjusted to valuation date2022-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-06-300
Unpaid minimum required contributions for all prior years2022-06-30242,108
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-06-300
Remaining amount of unpaid minimum required contributions2022-06-30242,108
Minimum required contributions for current year target normal cost2022-06-301,816
Net shortfall amortization installment of oustanding balance2022-06-30270,534
Waiver amortization installment2022-06-300
Total funding amount beforereflecting carryover/prefunding balances2022-06-3027,926
Additional cash requirement2022-06-3027,926
Contributions allocatedtoward minimum required contributions for current year2022-06-300
Unpaid minimum required contributions for current year2022-06-3027,926
Unpaid minimum required contributions for all years2022-06-30270,034
2021: PROGRESSIVE INDUSTRIES, INC. RETIREMENT PLAN 2021 401k membership
Market value of plan assets2021-06-30229,859
Acturial value of plan assets2021-06-30229,859
Funding target for retired participants and beneficiaries receiving payment2021-06-30162,257
Number of terminated vested participants2021-06-3024
Fundng target for terminated vested participants2021-06-30266,994
Active participant vested funding target2021-06-3016,594
Number of active participants2021-06-302
Total funding liabilities for active participants2021-06-3016,594
Total participant count2021-06-3034
Total funding target for all participants2021-06-30445,845
Balance at beginning of prior year after applicable adjustments2021-06-300
Prefunding balance at beginning of prior year after applicable adjustments2021-06-300
Amount remaining of carryover balance2021-06-300
Amount remaining of prefunding balance2021-06-300
Present value of excess contributions2021-06-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-06-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-06-300
Reductions in caryover balances due to elections or deemed elections2021-06-300
Reductions in prefunding balances due to elections or deemed elections2021-06-300
Balance of carryovers at beginning of current year2021-06-300
Balance of prefunding at beginning of current year2021-06-300
Total employer contributions2021-06-300
Total employee contributions2021-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2021-06-300
Contributions made to avoid restrictions adjusted to valuation date2021-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-06-300
Unpaid minimum required contributions for all prior years2021-06-30222,372
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-06-300
Remaining amount of unpaid minimum required contributions2021-06-30222,372
Minimum required contributions for current year target normal cost2021-06-3030
Net shortfall amortization installment of oustanding balance2021-06-30215,986
Waiver amortization installment2021-06-300
Total funding amount beforereflecting carryover/prefunding balances2021-06-3019,736
Additional cash requirement2021-06-3019,736
Contributions allocatedtoward minimum required contributions for current year2021-06-300
Unpaid minimum required contributions for current year2021-06-3019,736
Unpaid minimum required contributions for all years2021-06-30242,108
2020: PROGRESSIVE INDUSTRIES, INC. RETIREMENT PLAN 2020 401k membership
Market value of plan assets2020-06-30219,361
Acturial value of plan assets2020-06-30219,361
Funding target for retired participants and beneficiaries receiving payment2020-06-30153,311
Number of terminated vested participants2020-06-3025
Fundng target for terminated vested participants2020-06-30274,990
Active participant vested funding target2020-06-3016,054
Number of active participants2020-06-302
Total funding liabilities for active participants2020-06-3016,054
Total participant count2020-06-3034
Total funding target for all participants2020-06-30444,355
Balance at beginning of prior year after applicable adjustments2020-06-300
Prefunding balance at beginning of prior year after applicable adjustments2020-06-300
Amount remaining of carryover balance2020-06-300
Amount remaining of prefunding balance2020-06-300
Present value of excess contributions2020-06-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-06-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-06-300
Reductions in caryover balances due to elections or deemed elections2020-06-300
Reductions in prefunding balances due to elections or deemed elections2020-06-300
Balance of carryovers at beginning of current year2020-06-300
Balance of prefunding at beginning of current year2020-06-300
Total employer contributions2020-06-300
Total employee contributions2020-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2020-06-300
Contributions made to avoid restrictions adjusted to valuation date2020-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-06-300
Unpaid minimum required contributions for all prior years2020-06-30167,612
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-06-300
Remaining amount of unpaid minimum required contributions2020-06-30167,612
Minimum required contributions for current year target normal cost2020-06-30198
Net shortfall amortization installment of oustanding balance2020-06-30224,994
Waiver amortization installment2020-06-300
Total funding amount beforereflecting carryover/prefunding balances2020-06-3054,760
Additional cash requirement2020-06-3054,760
Contributions allocatedtoward minimum required contributions for current year2020-06-300
Unpaid minimum required contributions for current year2020-06-3054,760
Unpaid minimum required contributions for all years2020-06-30222,372
2019: PROGRESSIVE INDUSTRIES, INC. RETIREMENT PLAN 2019 401k membership
Market value of plan assets2019-06-30233,105
Acturial value of plan assets2019-06-30233,105
Funding target for retired participants and beneficiaries receiving payment2019-06-30156,768
Number of terminated vested participants2019-06-3025
Fundng target for terminated vested participants2019-06-30253,180
Active participant vested funding target2019-06-3014,805
Number of active participants2019-06-302
Total funding liabilities for active participants2019-06-3014,805
Total participant count2019-06-3034
Total funding target for all participants2019-06-30424,753
Balance at beginning of prior year after applicable adjustments2019-06-300
Prefunding balance at beginning of prior year after applicable adjustments2019-06-300
Amount remaining of carryover balance2019-06-300
Amount remaining of prefunding balance2019-06-300
Present value of excess contributions2019-06-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-06-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-06-300
Reductions in caryover balances due to elections or deemed elections2019-06-300
Reductions in prefunding balances due to elections or deemed elections2019-06-300
Balance of carryovers at beginning of current year2019-06-300
Balance of prefunding at beginning of current year2019-06-300
Total employer contributions2019-06-300
Total employee contributions2019-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2019-06-300
Contributions made to avoid restrictions adjusted to valuation date2019-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-06-300
Unpaid minimum required contributions for all prior years2019-06-30129,967
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-06-300
Remaining amount of unpaid minimum required contributions2019-06-30129,967
Minimum required contributions for current year target normal cost2019-06-30130
Net shortfall amortization installment of oustanding balance2019-06-30191,648
Waiver amortization installment2019-06-300
Total funding amount beforereflecting carryover/prefunding balances2019-06-3037,645
Additional cash requirement2019-06-3037,645
Contributions allocatedtoward minimum required contributions for current year2019-06-300
Unpaid minimum required contributions for current year2019-06-3037,645
Unpaid minimum required contributions for all years2019-06-30167,612
2018: PROGRESSIVE INDUSTRIES, INC. RETIREMENT PLAN 2018 401k membership
Market value of plan assets2018-06-30241,441
Acturial value of plan assets2018-06-30241,441
Funding target for retired participants and beneficiaries receiving payment2018-06-30167,695
Number of terminated vested participants2018-06-3024
Fundng target for terminated vested participants2018-06-30203,876
Active participant vested funding target2018-06-3034,270
Number of active participants2018-06-303
Total funding liabilities for active participants2018-06-3034,270
Total participant count2018-06-3035
Total funding target for all participants2018-06-30405,841
Balance at beginning of prior year after applicable adjustments2018-06-300
Prefunding balance at beginning of prior year after applicable adjustments2018-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2018-06-300
Prefunding balanced used to offset prior years funding requirement2018-06-300
Amount remaining of carryover balance2018-06-300
Amount remaining of prefunding balance2018-06-300
Present value of excess contributions2018-06-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-06-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-06-300
Reductions in caryover balances due to elections or deemed elections2018-06-300
Reductions in prefunding balances due to elections or deemed elections2018-06-300
Balance of carryovers at beginning of current year2018-06-300
Balance of prefunding at beginning of current year2018-06-300
Total employer contributions2018-06-300
Total employee contributions2018-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2018-06-300
Contributions made to avoid restrictions adjusted to valuation date2018-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-06-300
Unpaid minimum required contributions for all prior years2018-06-3098,747
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-06-300
Remaining amount of unpaid minimum required contributions2018-06-3098,747
Minimum required contributions for current year target normal cost2018-06-300
Net shortfall amortization installment of oustanding balance2018-06-30164,400
Waiver amortization installment2018-06-300
Total funding amount beforereflecting carryover/prefunding balances2018-06-3031,220
Additional cash requirement2018-06-3031,220
Contributions allocatedtoward minimum required contributions for current year2018-06-300
Unpaid minimum required contributions for current year2018-06-3031,220
Unpaid minimum required contributions for all years2018-06-30129,967
2017: PROGRESSIVE INDUSTRIES, INC. RETIREMENT PLAN 2017 401k membership
Market value of plan assets2017-06-30251,572
Acturial value of plan assets2017-06-30251,572
Funding target for retired participants and beneficiaries receiving payment2017-06-30169,694
Number of terminated vested participants2017-06-3025
Fundng target for terminated vested participants2017-06-30192,220
Active participant vested funding target2017-06-3029,764
Number of active participants2017-06-303
Total funding liabilities for active participants2017-06-3029,764
Total participant count2017-06-3036
Total funding target for all participants2017-06-30391,678
Balance at beginning of prior year after applicable adjustments2017-06-300
Prefunding balance at beginning of prior year after applicable adjustments2017-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2017-06-300
Prefunding balanced used to offset prior years funding requirement2017-06-300
Amount remaining of carryover balance2017-06-300
Amount remaining of prefunding balance2017-06-300
Present value of excess contributions2017-06-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-06-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-06-300
Reductions in caryover balances due to elections or deemed elections2017-06-300
Reductions in prefunding balances due to elections or deemed elections2017-06-300
Balance of carryovers at beginning of current year2017-06-300
Balance of prefunding at beginning of current year2017-06-300
Total employer contributions2017-06-300
Total employee contributions2017-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2017-06-300
Contributions made to avoid restrictions adjusted to valuation date2017-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-06-300
Unpaid minimum required contributions for all prior years2017-06-3067,493
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-06-300
Remaining amount of unpaid minimum required contributions2017-06-3067,493
Minimum required contributions for current year target normal cost2017-06-3010
Net shortfall amortization installment of oustanding balance2017-06-30140,106
Waiver amortization installment2017-06-300
Waived amount of outstanding balance2017-06-300
Total funding amount beforereflecting carryover/prefunding balances2017-06-3031,254
Additional cash requirement2017-06-3031,254
Contributions allocatedtoward minimum required contributions for current year2017-06-300
Unpaid minimum required contributions for current year2017-06-3031,254
Unpaid minimum required contributions for all years2017-06-3098,747

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