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FIRST FEDERAL BANK EMPLOYEES' PENSION PLAN 401k Plan overview

Plan NameFIRST FEDERAL BANK EMPLOYEES' PENSION PLAN
Plan identification number 001

FIRST FEDERAL BANK EMPLOYEES' PENSION PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).

401k Sponsoring company profile

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

Company Name:FIRST FEDERAL BANK
Employer identification number (EIN):560680378
NAIC Classification:522110
NAIC Description:Commercial Banking

Additional information about FIRST FEDERAL BANK

Jurisdiction of Incorporation: North Carolina Secretary of State
Incorporation Date:
Company Identification Number: 1173931

More information about FIRST FEDERAL BANK

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FIRST FEDERAL BANK EMPLOYEES' PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012021-07-01
0012020-07-01
0012019-07-01
0012018-07-01
0012017-07-01
0012016-07-01VICKIE BLACKMAN2018-04-16 VICKIE BLACKMAN2018-04-16
0012015-07-01VICKIE BLACKMAN2017-04-07 VICKIE BLACKMAN2017-04-07
0012015-07-01VICKIE BLACKMAN2017-01-30 VICKIE BLACKMAN2017-01-30
0012014-07-01VICKIE BLACKMAN2016-04-08 VICKIE BLACKMAN2016-04-08
0012013-07-01VICKIE BLACKMAN2015-04-13 VICKIE BLACKMAN2015-04-13
0012012-07-01VICKIE BLACKMAN2014-04-14 VICKIE BLACKMAN2014-04-14
0012011-07-01VICKIE BLACKMAN2013-04-15 VICKIE BLACKMAN2013-04-15
0012010-07-01VICKIE BLACKMAN2012-04-05 VICKIE BLACKMAN2012-04-05

Plan Statistics for FIRST FEDERAL BANK EMPLOYEES' PENSION PLAN

401k plan membership statisitcs for FIRST FEDERAL BANK EMPLOYEES' PENSION PLAN

Measure Date Value
2022: FIRST FEDERAL BANK EMPLOYEES' PENSION PLAN 2022 401k membership
Market value of plan assets2022-06-307,917,259
Acturial value of plan assets2022-06-307,917,259
Funding target for retired participants and beneficiaries receiving payment2022-06-303,806,132
Number of terminated vested participants2022-06-3028
Fundng target for terminated vested participants2022-06-30704,204
Active participant vested funding target2022-06-301,760,386
Number of active participants2022-06-3034
Total funding liabilities for active participants2022-06-301,771,628
Total participant count2022-06-30103
Total funding target for all participants2022-06-306,281,964
Balance at beginning of prior year after applicable adjustments2022-06-300
Prefunding balance at beginning of prior year after applicable adjustments2022-06-3060,106
Amount remaining of carryover balance2022-06-300
Amount remaining of prefunding balance2022-06-3060,106
Present value of excess contributions2022-06-30950,398
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-06-301,001,434
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-06-301,001,434
Balance of carryovers at beginning of current year2022-06-300
Balance of prefunding at beginning of current year2022-06-301,069,510
Total employer contributions2022-06-300
Total employee contributions2022-06-300
Remaining amount of unpaid minimum required contributions2022-06-300
Minimum required contributions for current year target normal cost2022-06-304,000
Total funding amount beforereflecting carryover/prefunding balances2022-06-300
Additional cash requirement2022-06-300
Unpaid minimum required contributions for current year2022-06-300
Unpaid minimum required contributions for all years2022-06-300
2021: FIRST FEDERAL BANK EMPLOYEES' PENSION PLAN 2021 401k membership
Market value of plan assets2021-06-306,472,594
Acturial value of plan assets2021-06-306,472,594
Funding target for retired participants and beneficiaries receiving payment2021-06-303,863,410
Number of terminated vested participants2021-06-3028
Fundng target for terminated vested participants2021-06-30707,667
Active participant vested funding target2021-06-301,799,823
Number of active participants2021-06-3039
Total funding liabilities for active participants2021-06-301,841,411
Total participant count2021-06-30106
Total funding target for all participants2021-06-306,412,488
Balance at beginning of prior year after applicable adjustments2021-06-300
Prefunding balance at beginning of prior year after applicable adjustments2021-06-30132,972
Amount remaining of carryover balance2021-06-300
Amount remaining of prefunding balance2021-06-30132,972
Present value of excess contributions2021-06-3089,779
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-06-3094,751
Reductions in prefunding balances due to elections or deemed elections2021-06-3078,703
Balance of carryovers at beginning of current year2021-06-300
Balance of prefunding at beginning of current year2021-06-3060,106
Total employer contributions2021-06-301,000,000
Total employee contributions2021-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-06-30950,398
Remaining amount of unpaid minimum required contributions2021-06-300
Minimum required contributions for current year target normal cost2021-06-300
Total funding amount beforereflecting carryover/prefunding balances2021-06-300
Additional cash requirement2021-06-300
Contributions allocatedtoward minimum required contributions for current year2021-06-30950,398
Unpaid minimum required contributions for current year2021-06-300
Unpaid minimum required contributions for all years2021-06-300
2020: FIRST FEDERAL BANK EMPLOYEES' PENSION PLAN 2020 401k membership
Market value of plan assets2020-06-306,429,085
Acturial value of plan assets2020-06-306,429,085
Funding target for retired participants and beneficiaries receiving payment2020-06-303,867,084
Number of terminated vested participants2020-06-3029
Fundng target for terminated vested participants2020-06-30729,924
Active participant vested funding target2020-06-301,657,492
Number of active participants2020-06-3041
Total funding liabilities for active participants2020-06-301,699,105
Total participant count2020-06-30107
Total funding target for all participants2020-06-306,296,113
Balance at beginning of prior year after applicable adjustments2020-06-300
Prefunding balance at beginning of prior year after applicable adjustments2020-06-30126,421
Amount remaining of carryover balance2020-06-300
Amount remaining of prefunding balance2020-06-30126,421
Present value of excess contributions2020-06-30234,689
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-06-30248,137
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-06-302,341
Balance of carryovers at beginning of current year2020-06-300
Balance of prefunding at beginning of current year2020-06-30132,972
Total employer contributions2020-06-30100,000
Total employee contributions2020-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-06-3094,779
Unpaid minimum required contributions for all prior years2020-06-300
Remaining amount of unpaid minimum required contributions2020-06-300
Minimum required contributions for current year target normal cost2020-06-305,000
Total funding amount beforereflecting carryover/prefunding balances2020-06-305,000
Additional cash requirement2020-06-305,000
Contributions allocatedtoward minimum required contributions for current year2020-06-3094,779
Unpaid minimum required contributions for current year2020-06-300
Unpaid minimum required contributions for all years2020-06-300
2019: FIRST FEDERAL BANK EMPLOYEES' PENSION PLAN 2019 401k membership
Market value of plan assets2019-06-306,326,062
Acturial value of plan assets2019-06-306,326,062
Funding target for retired participants and beneficiaries receiving payment2019-06-303,886,411
Number of terminated vested participants2019-06-3026
Fundng target for terminated vested participants2019-06-30652,729
Active participant vested funding target2019-06-301,537,733
Number of active participants2019-06-3048
Total funding liabilities for active participants2019-06-301,660,501
Total participant count2019-06-30110
Total funding target for all participants2019-06-306,199,641
Balance at beginning of prior year after applicable adjustments2019-06-300
Prefunding balance at beginning of prior year after applicable adjustments2019-06-30624,908
Amount remaining of carryover balance2019-06-300
Amount remaining of prefunding balance2019-06-30624,908
Present value of excess contributions2019-06-30161,253
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-06-30170,767
Reductions in prefunding balances due to elections or deemed elections2019-06-30503,611
Balance of carryovers at beginning of current year2019-06-300
Balance of prefunding at beginning of current year2019-06-30126,421
Total employer contributions2019-06-30250,000
Total employee contributions2019-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-06-30234,689
Unpaid minimum required contributions for all prior years2019-06-300
Remaining amount of unpaid minimum required contributions2019-06-300
Minimum required contributions for current year target normal cost2019-06-300
Total funding amount beforereflecting carryover/prefunding balances2019-06-300
Additional cash requirement2019-06-300
Contributions allocatedtoward minimum required contributions for current year2019-06-30234,689
Unpaid minimum required contributions for current year2019-06-300
Unpaid minimum required contributions for all years2019-06-300
2018: FIRST FEDERAL BANK EMPLOYEES' PENSION PLAN 2018 401k membership
Market value of plan assets2018-06-306,333,852
Acturial value of plan assets2018-06-306,333,852
Funding target for retired participants and beneficiaries receiving payment2018-06-303,837,558
Number of terminated vested participants2018-06-3023
Fundng target for terminated vested participants2018-06-30488,477
Active participant vested funding target2018-06-301,277,466
Number of active participants2018-06-3044
Total funding liabilities for active participants2018-06-301,380,213
Total participant count2018-06-30104
Total funding target for all participants2018-06-305,706,248
Balance at beginning of prior year after applicable adjustments2018-06-300
Prefunding balance at beginning of prior year after applicable adjustments2018-06-30794,747
Prefunding balanced used to offset prior years funding requirement2018-06-300
Amount remaining of carryover balance2018-06-300
Amount remaining of prefunding balance2018-06-30794,747
Present value of excess contributions2018-06-3091,952
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-06-3097,543
Reductions in prefunding balances due to elections or deemed elections2018-06-30192,251
Balance of carryovers at beginning of current year2018-06-300
Balance of prefunding at beginning of current year2018-06-30624,908
Total employer contributions2018-06-30300,000
Total employee contributions2018-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-06-30280,585
Remaining amount of unpaid minimum required contributions2018-06-300
Minimum required contributions for current year target normal cost2018-06-30122,028
Total funding amount beforereflecting carryover/prefunding balances2018-06-30119,332
Additional cash requirement2018-06-30119,332
Contributions allocatedtoward minimum required contributions for current year2018-06-30280,585
Unpaid minimum required contributions for current year2018-06-300
Unpaid minimum required contributions for all years2018-06-300
2017: FIRST FEDERAL BANK EMPLOYEES' PENSION PLAN 2017 401k membership
Market value of plan assets2017-06-306,285,569
Acturial value of plan assets2017-06-306,285,569
Funding target for retired participants and beneficiaries receiving payment2017-06-303,633,616
Number of terminated vested participants2017-06-3020
Fundng target for terminated vested participants2017-06-30491,385
Active participant vested funding target2017-06-301,290,146
Number of active participants2017-06-3052
Total funding liabilities for active participants2017-06-301,365,821
Total participant count2017-06-30106
Total funding target for all participants2017-06-305,490,822
Balance at beginning of prior year after applicable adjustments2017-06-3015,183
Prefunding balance at beginning of prior year after applicable adjustments2017-06-30676,218
Amount remaining of carryover balance2017-06-3015,183
Amount remaining of prefunding balance2017-06-30676,218
Present value of excess contributions2017-06-30587,455
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-06-30624,288
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-06-3090,872
Reductions in caryover balances due to elections or deemed elections2017-06-3015,804
Balance of carryovers at beginning of current year2017-06-300
Balance of prefunding at beginning of current year2017-06-30794,747
Total employer contributions2017-06-30200,000
Total employee contributions2017-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-06-30187,130
Liquidity shortfalls end of Q12017-06-300
Liquidity shortfalls end of Q22017-06-300
Liquidity shortfalls end of Q32017-06-300
Liquidity shortfalls end of Q42017-06-300
Remaining amount of unpaid minimum required contributions2017-06-300
Minimum required contributions for current year target normal cost2017-06-3095,178
Total funding amount beforereflecting carryover/prefunding balances2017-06-3095,178
Additional cash requirement2017-06-3095,178
Contributions allocatedtoward minimum required contributions for current year2017-06-30187,130
Unpaid minimum required contributions for current year2017-06-300
Unpaid minimum required contributions for all years2017-06-300

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