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PALM BEACH GALERE, INC. DEFINED BENEFIT PLAN 401k Plan overview

Plan NamePALM BEACH GALERE, INC. DEFINED BENEFIT PLAN
Plan identification number 002

PALM BEACH GALERE, INC. DEFINED BENEFIT PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • 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

PALM BEACH GALERE, INC. has sponsored the creation of one or more 401k plans.

Company Name:PALM BEACH GALERE, INC.
Employer identification number (EIN):650989636
NAIC Classification:453920
NAIC Description:Art Dealers

Additional information about PALM BEACH GALERE, INC.

Jurisdiction of Incorporation: Florida Department of State Division of Corporations
Incorporation Date: 1999-08-04
Company Identification Number: P99000069119
Legal Registered Office Address: 500 S AUSTRALIAN AVENUE

WEST PALM BEACH

33401

More information about PALM BEACH GALERE, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PALM BEACH GALERE, INC. DEFINED BENEFIT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01KURT DUCOVNA2023-09-15
0022021-01-01KURT DUCOVNA2022-10-27
0022020-01-01KURT DUCOVNA2021-08-17
0022019-01-01KURT DUCOVNA2020-09-30
0022018-01-01KURT DUCOVNA2019-09-11
0022017-01-01KURT DUCOVNA2018-07-13
0022016-01-01KURT DUCOVNA2017-06-12
0022015-01-01KURT DUCOVNA2016-07-20
0022015-01-01KURT DUCOVNA2016-07-20
0022014-01-01KURT DUCOVNA2015-05-20

Plan Statistics for PALM BEACH GALERE, INC. DEFINED BENEFIT PLAN

401k plan membership statisitcs for PALM BEACH GALERE, INC. DEFINED BENEFIT PLAN

Measure Date Value
2022: PALM BEACH GALERE, INC. DEFINED BENEFIT PLAN 2022 401k membership
Market value of plan assets2022-12-31994,322
Acturial value of plan assets2022-12-31994,322
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-310
Fundng target for terminated vested participants2022-12-310
Active participant vested funding target2022-12-311,072,147
Number of active participants2022-12-312
Total funding liabilities for active participants2022-12-311,072,147
Total participant count2022-12-312
Total funding target for all participants2022-12-311,072,147
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 contributions2022-12-3129,851
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-3129,851
Total available prior years excess cotributions added 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 contributions2022-12-31200,000
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 date2022-12-31202,387
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 cost2022-12-3155,056
Net shortfall amortization installment of oustanding balance2022-12-3177,825
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-3162,248
Additional cash requirement2022-12-3162,248
Contributions allocatedtoward minimum required contributions for current year2022-12-31202,387
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: PALM BEACH GALERE, INC. DEFINED BENEFIT PLAN 2021 401k membership
Market value of plan assets2021-12-31884,958
Acturial value of plan assets2021-12-31884,958
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-310
Fundng target for terminated vested participants2021-12-310
Active participant vested funding target2021-12-31933,474
Number of active participants2021-12-312
Total funding liabilities for active participants2021-12-31933,474
Total participant count2021-12-312
Total funding target for all participants2021-12-31933,474
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 contributions2021-12-3122,409
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-3122,409
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 contributions2021-12-31100,000
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 date2021-12-31104,585
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 cost2021-12-3164,145
Net shortfall amortization installment of oustanding balance2021-12-3148,516
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-3174,734
Additional cash requirement2021-12-3174,734
Contributions allocatedtoward minimum required contributions for current year2021-12-31104,585
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: PALM BEACH GALERE, INC. DEFINED BENEFIT PLAN 2020 401k membership
Market value of plan assets2020-12-31787,276
Acturial value of plan assets2020-12-31787,276
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-310
Fundng target for terminated vested participants2020-12-310
Active participant vested funding target2020-12-31811,403
Number of active participants2020-12-312
Total funding liabilities for active participants2020-12-31811,403
Total participant count2020-12-312
Total funding target for all participants2020-12-31811,403
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 contributions2020-12-31335
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-31335
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 contributions2020-12-31101,000
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 date2020-12-31102,169
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 cost2020-12-3174,002
Net shortfall amortization installment of oustanding balance2020-12-3124,127
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-3179,760
Additional cash requirement2020-12-3179,760
Contributions allocatedtoward minimum required contributions for current year2020-12-31102,169
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: PALM BEACH GALERE, INC. DEFINED BENEFIT PLAN 2019 401k membership
Market value of plan assets2019-12-31632,247
Acturial value of plan assets2019-12-31632,247
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-310
Fundng target for terminated vested participants2019-12-310
Active participant vested funding target2019-12-31644,965
Number of active participants2019-12-312
Total funding liabilities for active participants2019-12-31644,965
Total participant count2019-12-312
Total funding target for all participants2019-12-31644,965
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 contributions2019-12-31338
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-31338
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 contributions2019-12-31132,028
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 date2019-12-31132,689
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 cost2019-12-31128,992
Net shortfall amortization installment of oustanding balance2019-12-3112,718
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31132,354
Additional cash requirement2019-12-31132,354
Contributions allocatedtoward minimum required contributions for current year2019-12-31132,689
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: PALM BEACH GALERE, INC. DEFINED BENEFIT PLAN 2018 401k membership
Market value of plan assets2018-12-31447,008
Acturial value of plan assets2018-12-31447,008
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 target2018-12-31494,294
Number of active participants2018-12-312
Total funding liabilities for active participants2018-12-31494,294
Total participant count2018-12-312
Total funding target for all participants2018-12-31494,294
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 contributions2018-12-31147
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-31147
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-310
Reductions in caryover balances due to elections or deemed elections2018-12-310
Reductions in prefunding balances due to elections or deemed elections2018-12-310
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-310
Total employer contributions2018-12-31128,362
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 date2018-12-31131,946
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 cost2018-12-31123,574
Net shortfall amortization installment of oustanding balance2018-12-3147,286
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31131,608
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-31131,608
Contributions allocatedtoward minimum required contributions for current year2018-12-31131,946
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: PALM BEACH GALERE, INC. DEFINED BENEFIT PLAN 2017 401k membership
Market value of plan assets2017-12-31340,174
Acturial value of plan assets2017-12-31340,174
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 target2017-12-31343,991
Number of active participants2017-12-312
Total funding liabilities for active participants2017-12-31343,991
Total participant count2017-12-312
Total funding target for all participants2017-12-31343,991
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2017-12-310
Prefunding balanced used to offset prior years funding requirement2017-12-310
Amount remaining of carryover balance2017-12-310
Amount remaining of prefunding balance2017-12-310
Present value of excess contributions2017-12-3143
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3143
Total available prior years excess cotributions added 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 contributions2017-12-31112,641
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 date2017-12-31115,639
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 cost2017-12-31114,665
Net shortfall amortization installment of oustanding balance2017-12-313,817
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31115,492
Additional cash requirement2017-12-31115,492
Contributions allocatedtoward minimum required contributions for current year2017-12-31115,639
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: PALM BEACH GALERE, INC. DEFINED BENEFIT PLAN 2016 401k membership
Market value of plan assets2016-12-31211,320
Acturial value of plan assets2016-12-31211,320
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-310
Fundng target for terminated vested participants2016-12-310
Active participant vested funding target2016-12-31217,855
Number of active participants2016-12-312
Total funding liabilities for active participants2016-12-31217,855
Total participant count2016-12-312
Total funding target for all participants2016-12-31217,855
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2016-12-310
Prefunding balanced used to offset prior years funding requirement2016-12-310
Amount remaining of carryover balance2016-12-310
Amount remaining of prefunding balance2016-12-310
Present value of excess contributions2016-12-3126
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-3126
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2016-12-310
Reductions in caryover balances due to elections or deemed elections2016-12-310
Reductions in prefunding balances due to elections or deemed elections2016-12-310
Balance of carryovers at beginning of current year2016-12-310
Balance of prefunding at beginning of current year2016-12-310
Total employer contributions2016-12-31106,000
Total employee contributions2016-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2016-12-310
Contributions made to avoid restrictions adjusted to valuation date2016-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2016-12-31109,723
Unpaid minimum required contributions for all prior years2016-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2016-12-310
Remaining amount of unpaid minimum required contributions2016-12-310
Minimum required contributions for current year target normal cost2016-12-31108,538
Net shortfall amortization installment of oustanding balance2016-12-316,535
Waiver amortization installment2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-31109,680
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-31109,680
Contributions allocatedtoward minimum required contributions for current year2016-12-31109,723
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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