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FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 401k Plan overview

Plan NameFIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA
Plan identification number 002

FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • 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

FIRST FEDERAL SAVINGS BANK OF LINCOLNTON has sponsored the creation of one or more 401k plans.

Company Name:FIRST FEDERAL SAVINGS BANK OF LINCOLNTON
Employer identification number (EIN):560499280
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01
0022021-01-01
0022020-01-01
0022019-01-01
0022019-01-01
0022018-01-01DYRA EAKER
0022017-01-01DYRA EAKER
0022016-01-01DYRA EAKER
0022015-01-01DYRA R EAKER2016-10-11
0022014-01-01DYRA R EAKER2015-06-15
0022013-01-01MICHAEL T SUTHERS2014-05-23
0022012-01-01MICHAEL T SUTHERS2013-07-23
0022011-01-01MICHAEL T SUTHERS2012-09-28
0022010-01-01CDSTROUP2011-05-05

Plan Statistics for FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA

401k plan membership statisitcs for FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA

Measure Date Value
2022: FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2022 401k membership
Total participants, beginning-of-year2022-01-0150
Total number of active participants reported on line 7a of the Form 55002022-01-0143
Number of retired or separated participants receiving benefits2022-01-012
Number of other retired or separated participants entitled to future benefits2022-01-013
Total of all active and inactive participants2022-01-0148
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-0148
Number of participants with account balances2022-01-0145
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2021 401k membership
Total participants, beginning-of-year2021-01-0150
Total number of active participants reported on line 7a of the Form 55002021-01-0144
Number of retired or separated participants receiving benefits2021-01-011
Number of other retired or separated participants entitled to future benefits2021-01-015
Total of all active and inactive participants2021-01-0150
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-0150
Number of participants with account balances2021-01-0149
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010
2020: FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2020 401k membership
Total participants, beginning-of-year2020-01-0150
Total number of active participants reported on line 7a of the Form 55002020-01-0146
Number of retired or separated participants receiving benefits2020-01-011
Number of other retired or separated participants entitled to future benefits2020-01-013
Total of all active and inactive participants2020-01-0150
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-0150
Number of participants with account balances2020-01-0149
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-011
2019: FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2019 401k membership
Total participants, beginning-of-year2019-01-0150
Total number of active participants reported on line 7a of the Form 55002019-01-0146
Number of retired or separated participants receiving benefits2019-01-011
Number of other retired or separated participants entitled to future benefits2019-01-013
Total of all active and inactive participants2019-01-0150
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-0150
Number of participants with account balances2019-01-0148
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-011
2018: FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2018 401k membership
Total participants, beginning-of-year2018-01-0150
Total number of active participants reported on line 7a of the Form 55002018-01-0146
Number of retired or separated participants receiving benefits2018-01-011
Number of other retired or separated participants entitled to future benefits2018-01-013
Total of all active and inactive participants2018-01-0150
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-0150
Number of participants with account balances2018-01-0149
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010
2017: FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2017 401k membership
Total participants, beginning-of-year2017-01-0149
Total number of active participants reported on line 7a of the Form 55002017-01-0145
Number of retired or separated participants receiving benefits2017-01-011
Number of other retired or separated participants entitled to future benefits2017-01-014
Total of all active and inactive participants2017-01-0150
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-0150
Number of participants with account balances2017-01-0148
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-011
2016: FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2016 401k membership
Total participants, beginning-of-year2016-01-0150
Total number of active participants reported on line 7a of the Form 55002016-01-0145
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-014
Total of all active and inactive participants2016-01-0149
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-0149
Number of participants with account balances2016-01-0147
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-010

Financial Data on FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA

Measure Date Value
2022 : FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2022 401k financial data
Transfers to/from the plan2022-12-31$0
Total plan liabilities at end of year2022-12-31$0
Total plan liabilities at beginning of year2022-12-31$0
Total income from all sources2022-12-31$-419,798
Expenses. Total of all expenses incurred2022-12-31$1,055,573
Benefits paid (including direct rollovers)2022-12-31$1,053,458
Total plan assets at end of year2022-12-31$8,463,869
Total plan assets at beginning of year2022-12-31$9,939,240
Value of fidelity bond covering the plan2022-12-31$3,000,000
Assets. Value of tangible personal property2022-12-31$0
Total contributions received or receivable from participants2022-12-31$251,100
Assets. Value of loans (other than to participants)2022-12-31$0
Expenses. Other expenses not covered elsewhere2022-12-31$0
Contributions received from other sources (not participants or employers)2022-12-31$71,030
Other income received2022-12-31$-1,255,951
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$-1,475,371
Net plan assets at end of year (total assets less liabilities)2022-12-31$8,463,869
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$9,939,240
Assets. Value of participant loans2022-12-31$111,771
Assets. Value of assets in partnership/joint-venture interests2022-12-31$0
Assets. Value of real-estate (other than employer real property)2022-12-31$0
Assets. Value of employer securities2022-12-31$0
Assets. Value of employer real property2022-12-31$0
Total contributions received or receivable from employer(s)2022-12-31$514,023
Value of certain deemed distributions of participant loans2022-12-31$0
Value of corrective distributions2022-12-31$1,234
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$881
2021 : FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2021 401k financial data
Transfers to/from the plan2021-12-31$0
Total plan liabilities at end of year2021-12-31$0
Total plan liabilities at beginning of year2021-12-31$0
Total income from all sources2021-12-31$1,452,724
Expenses. Total of all expenses incurred2021-12-31$262,610
Benefits paid (including direct rollovers)2021-12-31$261,541
Total plan assets at end of year2021-12-31$9,939,240
Total plan assets at beginning of year2021-12-31$8,749,126
Value of fidelity bond covering the plan2021-12-31$3,000,000
Assets. Value of tangible personal property2021-12-31$0
Total contributions received or receivable from participants2021-12-31$285,021
Assets. Value of loans (other than to participants)2021-12-31$0
Expenses. Other expenses not covered elsewhere2021-12-31$0
Contributions received from other sources (not participants or employers)2021-12-31$36,779
Other income received2021-12-31$928,330
Noncash contributions received2021-12-31$0
Net income (gross income less expenses)2021-12-31$1,190,114
Net plan assets at end of year (total assets less liabilities)2021-12-31$9,939,240
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$8,749,126
Assets. Value of participant loans2021-12-31$158,259
Assets. Value of assets in partnership/joint-venture interests2021-12-31$0
Assets. Value of real-estate (other than employer real property)2021-12-31$0
Assets. Value of employer securities2021-12-31$0
Assets. Value of employer real property2021-12-31$0
Total contributions received or receivable from employer(s)2021-12-31$202,594
Value of certain deemed distributions of participant loans2021-12-31$0
Value of corrective distributions2021-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$1,069
2020 : FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2020 401k financial data
Transfers to/from the plan2020-12-31$0
Total plan liabilities at end of year2020-12-31$0
Total plan liabilities at beginning of year2020-12-31$0
Total income from all sources2020-12-31$1,262,671
Expenses. Total of all expenses incurred2020-12-31$436,353
Benefits paid (including direct rollovers)2020-12-31$435,259
Total plan assets at end of year2020-12-31$8,749,126
Total plan assets at beginning of year2020-12-31$7,922,808
Value of fidelity bond covering the plan2020-12-31$3,000,000
Assets. Value of tangible personal property2020-12-31$0
Total contributions received or receivable from participants2020-12-31$273,335
Assets. Value of loans (other than to participants)2020-12-31$0
Expenses. Other expenses not covered elsewhere2020-12-31$0
Contributions received from other sources (not participants or employers)2020-12-31$0
Other income received2020-12-31$792,271
Noncash contributions received2020-12-31$0
Net income (gross income less expenses)2020-12-31$826,318
Net plan assets at end of year (total assets less liabilities)2020-12-31$8,749,126
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$7,922,808
Assets. Value of participant loans2020-12-31$119,011
Assets. Value of assets in partnership/joint-venture interests2020-12-31$0
Assets. Value of real-estate (other than employer real property)2020-12-31$0
Assets. Value of employer securities2020-12-31$0
Assets. Value of employer real property2020-12-31$0
Total contributions received or receivable from employer(s)2020-12-31$197,065
Value of certain deemed distributions of participant loans2020-12-31$0
Value of corrective distributions2020-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$1,094
2019 : FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2019 401k financial data
Transfers to/from the plan2019-12-31$0
Total plan liabilities at end of year2019-12-31$0
Total plan liabilities at beginning of year2019-12-31$0
Total income from all sources2019-12-31$1,556,305
Expenses. Total of all expenses incurred2019-12-31$392,670
Benefits paid (including direct rollovers)2019-12-31$391,551
Total plan assets at end of year2019-12-31$7,922,808
Total plan assets at beginning of year2019-12-31$6,759,173
Value of fidelity bond covering the plan2019-12-31$3,000,000
Total contributions received or receivable from participants2019-12-31$255,935
Expenses. Other expenses not covered elsewhere2019-12-31$0
Contributions received from other sources (not participants or employers)2019-12-31$0
Other income received2019-12-31$1,115,260
Noncash contributions received2019-12-31$0
Net income (gross income less expenses)2019-12-31$1,163,635
Net plan assets at end of year (total assets less liabilities)2019-12-31$7,922,808
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$6,759,173
Assets. Value of participant loans2019-12-31$129,548
Total contributions received or receivable from employer(s)2019-12-31$185,110
Value of certain deemed distributions of participant loans2019-12-31$0
Value of corrective distributions2019-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$1,119
2018 : FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2018 401k financial data
Transfers to/from the plan2018-12-31$0
Total plan liabilities at end of year2018-12-31$0
Total plan liabilities at beginning of year2018-12-31$0
Total income from all sources2018-12-31$235,444
Expenses. Total of all expenses incurred2018-12-31$244,003
Benefits paid (including direct rollovers)2018-12-31$243,040
Total plan assets at end of year2018-12-31$6,759,173
Total plan assets at beginning of year2018-12-31$6,767,732
Value of fidelity bond covering the plan2018-12-31$3,000,000
Total contributions received or receivable from participants2018-12-31$246,759
Expenses. Other expenses not covered elsewhere2018-12-31$0
Contributions received from other sources (not participants or employers)2018-12-31$61,253
Other income received2018-12-31$-260,488
Noncash contributions received2018-12-31$0
Net income (gross income less expenses)2018-12-31$-8,559
Net plan assets at end of year (total assets less liabilities)2018-12-31$6,759,173
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$6,767,732
Assets. Value of participant loans2018-12-31$177,754
Total contributions received or receivable from employer(s)2018-12-31$187,920
Value of certain deemed distributions of participant loans2018-12-31$0
Value of corrective distributions2018-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$963
2017 : FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2017 401k financial data
Transfers to/from the plan2017-12-31$0
Total plan liabilities at end of year2017-12-31$0
Total plan liabilities at beginning of year2017-12-31$0
Total income from all sources2017-12-31$1,107,284
Expenses. Total of all expenses incurred2017-12-31$302,507
Benefits paid (including direct rollovers)2017-12-31$301,363
Total plan assets at end of year2017-12-31$6,767,732
Total plan assets at beginning of year2017-12-31$5,962,955
Value of fidelity bond covering the plan2017-12-31$3,000,000
Total contributions received or receivable from participants2017-12-31$226,592
Expenses. Other expenses not covered elsewhere2017-12-31$0
Contributions received from other sources (not participants or employers)2017-12-31$7,506
Other income received2017-12-31$705,641
Noncash contributions received2017-12-31$0
Net income (gross income less expenses)2017-12-31$804,777
Net plan assets at end of year (total assets less liabilities)2017-12-31$6,767,732
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$5,962,955
Assets. Value of participant loans2017-12-31$179,484
Total contributions received or receivable from employer(s)2017-12-31$167,545
Value of certain deemed distributions of participant loans2017-12-31$0
Value of corrective distributions2017-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$1,144
2016 : FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2016 401k financial data
Transfers to/from the plan2016-12-31$0
Total plan liabilities at end of year2016-12-31$0
Total plan liabilities at beginning of year2016-12-31$0
Total income from all sources2016-12-31$1,017,583
Expenses. Total of all expenses incurred2016-12-31$70,146
Benefits paid (including direct rollovers)2016-12-31$69,365
Total plan assets at end of year2016-12-31$5,962,955
Total plan assets at beginning of year2016-12-31$5,015,518
Value of fidelity bond covering the plan2016-12-31$3,000,000
Total contributions received or receivable from participants2016-12-31$228,865
Expenses. Other expenses not covered elsewhere2016-12-31$0
Contributions received from other sources (not participants or employers)2016-12-31$0
Other income received2016-12-31$607,545
Noncash contributions received2016-12-31$0
Net income (gross income less expenses)2016-12-31$947,437
Net plan assets at end of year (total assets less liabilities)2016-12-31$5,962,955
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$5,015,518
Assets. Value of participant loans2016-12-31$164,035
Total contributions received or receivable from employer(s)2016-12-31$181,173
Value of certain deemed distributions of participant loans2016-12-31$0
Value of corrective distributions2016-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2016-12-31$781

Form 5500 Responses for FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA

2022: FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01This submission is the final filingNo
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01This submission is the final filingNo
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01This submission is the final filingNo
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedYes
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedNo
2018-01-01This submission is the final filingNo
2018-01-01This return/report is a short plan year return/report (less than 12 months)No
2018-01-01Plan is a collectively bargained planNo
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedNo
2017-01-01This submission is the final filingNo
2017-01-01This return/report is a short plan year return/report (less than 12 months)No
2017-01-01Plan is a collectively bargained planNo
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: FIRST FEDERAL SAVINGS BANK OF LINCOLNTON 401K PLA 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Submission has been amendedNo
2016-01-01This submission is the final filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes

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