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CORNERSTONE FINANCIAL CREDIT UNION CASH BALANCE DEFINED BENEFIT PLAN AND TRUST 401k Plan overview

Plan NameCORNERSTONE FINANCIAL CREDIT UNION CASH BALANCE DEFINED BENEFIT PLAN AND TRUST
Plan identification number 001

CORNERSTONE FINANCIAL CREDIT UNION CASH BALANCE DEFINED BENEFIT PLAN AND 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).
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).

401k Sponsoring company profile

CORNERSTONE FINANCIAL CREDIT UNION has sponsored the creation of one or more 401k plans.

Company Name:CORNERSTONE FINANCIAL CREDIT UNION
Employer identification number (EIN):620575774
NAIC Classification:522130
NAIC Description:Credit Unions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CORNERSTONE FINANCIAL CREDIT UNION CASH BALANCE DEFINED BENEFIT PLAN AND TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-06-01WILLIAM BYRD2024-10-31
0012022-06-01WILLIAM BYRD2023-10-11
0012021-06-01WILLIAM BYRD2022-09-29
0012020-06-01WILLIAM BYRD2021-09-29
0012019-06-01WILLIAM BYRD2020-09-11
0012018-06-01WILLIAM BYRD2019-10-11
0012017-06-01WILLIAM BYRD2018-09-26
0012016-06-01WILLIAM BYRD2017-10-17
0012015-06-01WILLIAM BYRD2016-08-30
0012014-06-01JOE D SPIVEY2015-08-24
0012013-06-01JOE D SPIVEY2014-09-05
0012012-06-01JOE D SPIVEY2013-10-22
0012011-06-01JOE SPIVEY2012-09-17 JOE SPIVEY2012-09-17
0012010-06-01JOE SPIVEY2011-10-20 JOE SPIVEY2011-10-20

Financial Data on CORNERSTONE FINANCIAL CREDIT UNION CASH BALANCE DEFINED BENEFIT PLAN AND TRUST

Measure Date Value
2025 : CORNERSTONE FINANCIAL CREDIT UNION CASH BALANCE DEFINED BENEFIT PLAN AND TRUST 2025 401k financial data
Total transfers to/from plan in this plan year2025-08-080
Total liabilities as of the end of the plan year2025-08-080
Total liabilities as of the beginning of the plan year2025-08-080
Total expenses incurred by plan in this plan year2025-08-081071270
Net assets as of the end of the plan year2025-08-0815886203
Total assets as of the beginning of the plan year2025-08-0815375659
Value of plan covered by a fidelity bond2025-08-087000000
Participant contributions to plan in this plan year2025-08-080
Other expenses paid from plan in this plan year2025-08-080
Other contributions to plan in this plan year2025-08-080
Other income to plan in this plan year2025-08-081581814
Plan net income in this plan year2025-08-08510544
Net assets as of the end of the plan year2025-08-0815886203
Net assets as of the beginning of the plan year2025-08-0815375659
Employer contributions to plan in this plan year2025-08-080
Expensese paid to adminstrative service provicers from plan in this plan year2025-08-0836429
2024 : CORNERSTONE FINANCIAL CREDIT UNION CASH BALANCE DEFINED BENEFIT PLAN AND TRUST 2024 401k financial data
Total transfers to/from plan in this plan year2024-10-310
Total liabilities as of the end of the plan year2024-10-310
Total liabilities as of the beginning of the plan year2024-10-310
Total expenses incurred by plan in this plan year2024-10-31101171
Net assets as of the end of the plan year2024-10-3115375659
Total assets as of the beginning of the plan year2024-10-3113059250
Value of plan covered by a fidelity bond2024-10-316000000
Participant contributions to plan in this plan year2024-10-310
Other expenses paid from plan in this plan year2024-10-310
Other contributions to plan in this plan year2024-10-310
Other income to plan in this plan year2024-10-312417580
Plan net income in this plan year2024-10-312316409
Net assets as of the end of the plan year2024-10-3115375659
Net assets as of the beginning of the plan year2024-10-3113059250
Employer contributions to plan in this plan year2024-10-310
Expensese paid to adminstrative service provicers from plan in this plan year2024-10-3139400
2022 : CORNERSTONE FINANCIAL CREDIT UNION CASH BALANCE DEFINED BENEFIT PLAN AND TRUST 2022 401k financial data
Total transfers to/from plan in this plan year2022-09-290
Total liabilities as of the end of the plan year2022-09-290
Total liabilities as of the beginning of the plan year2022-09-290
Total expenses incurred by plan in this plan year2022-09-291215895
Net assets as of the end of the plan year2022-09-2916961301
Total assets as of the beginning of the plan year2022-09-2915996271
Value of plan covered by a fidelity bond2022-09-296000000
Participant contributions to plan in this plan year2022-09-290
Other expenses paid from plan in this plan year2022-09-290
Other contributions to plan in this plan year2022-09-290
Other income to plan in this plan year2022-09-29-819075
Plan net income in this plan year2022-09-29965030
Net assets as of the end of the plan year2022-09-2916961301
Net assets as of the beginning of the plan year2022-09-2915996271
Employer contributions to plan in this plan year2022-09-293000000
Expensese paid to adminstrative service provicers from plan in this plan year2022-09-2950245

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