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RETIREMENT PLAN FOR EMPLOYEES OF PUERTO RICANCARS, INC. AND RELATED COMPANIES RESIDING IN THE COMMONWEALTH OF PUERTO RICO 401k Plan overview

Plan NameRETIREMENT PLAN FOR EMPLOYEES OF PUERTO RICANCARS, INC. AND RELATED COMPANIES RESIDING IN THE COMMONWEALTH OF PUERTO RICO
Plan identification number 005

RETIREMENT PLAN FOR EMPLOYEES OF PUERTO RICANCARS, INC. AND RELATED COMPANIES RESIDING IN THE COMMONWEALTH OF PUERTO RICO 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).
  • 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).
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

PUERTO RICANCARS, INC. has sponsored the creation of one or more 401k plans.

Company Name:PUERTO RICANCARS, INC.
Employer identification number (EIN):660206490
NAIC Classification:532100
NAIC Description: Automotive Equipment Rental and Leasing

Form 5500 Filing Information

Submission information for form 5500 for 401k plan RETIREMENT PLAN FOR EMPLOYEES OF PUERTO RICANCARS, INC. AND RELATED COMPANIES RESIDING IN THE COMMONWEALTH OF PUERTO RICO

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0052022-01-01LINDA MUNOZ2023-10-12
0052021-01-01LINDA MUNOZ2022-10-18
0052020-01-01JEANNE STEVENS2021-10-12
0052019-01-01JEANNE STEVENS2020-10-14
0052019-01-01JEANNE STEVENS2021-09-24
0052018-01-01VICKI BOYD2019-10-14
0052017-01-01JEFF CELESTIN2018-10-12
0052016-01-01JEFF CELESTIN2017-07-31
0052015-01-01JEFFREY CELESTIN2016-10-12
0052014-01-01JEFFREY CELESTIN2015-10-14
0052013-01-01JEFFREY CELESTIN2014-10-15 JEFFREY CELESTIN2014-10-15
0052012-01-01SHELDON WRIGHT2013-10-14 SHELDON WRIGHT2013-10-14
0052011-01-01ASHER TEIGMAN2013-04-26
0052010-01-01ASHER TEIGMAN2011-10-17

Plan Statistics for RETIREMENT PLAN FOR EMPLOYEES OF PUERTO RICANCARS, INC. AND RELATED COMPANIES RESIDING IN THE COMMONWEALTH OF PUERTO RICO

401k plan membership statisitcs for RETIREMENT PLAN FOR EMPLOYEES OF PUERTO RICANCARS, INC. AND RELATED COMPANIES RESIDING IN THE COMMONWEALTH OF PUERTO RICO

Measure Date Value
2022: RETIREMENT PLAN FOR EMPLOYEES OF PUERTO RICANCARS, INC. AND RELATED COMPANIES RESIDING IN THE COMMONWEALTH OF PUERTO RICO 2022 401k membership
Market value of plan assets2022-12-313,750,447
Acturial value of plan assets2022-12-313,750,447
Funding target for retired participants and beneficiaries receiving payment2022-12-311,514,373
Number of terminated vested participants2022-12-3138
Fundng target for terminated vested participants2022-12-311,363,845
Active participant vested funding target2022-12-310
Number of active participants2022-12-310
Total funding liabilities for active participants2022-12-310
Total participant count2022-12-3169
Total funding target for all participants2022-12-312,878,218
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-310
Amount remaining of carryover balance2022-12-310
Amount remaining of prefunding balance2022-12-310
Present value of excess contributions2022-12-310
Total available prior years excess cotributions available 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 contributions2022-12-310
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 date2022-12-310
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 cost2022-12-3136,000
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-310
Additional cash requirement2022-12-310
Contributions allocatedtoward minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: RETIREMENT PLAN FOR EMPLOYEES OF PUERTO RICANCARS, INC. AND RELATED COMPANIES RESIDING IN THE COMMONWEALTH OF PUERTO RICO 2021 401k membership
Market value of plan assets2021-12-313,397,352
Acturial value of plan assets2021-12-313,397,352
Funding target for retired participants and beneficiaries receiving payment2021-12-311,254,135
Number of terminated vested participants2021-12-3128
Fundng target for terminated vested participants2021-12-311,086,832
Active participant vested funding target2021-12-31437,507
Number of active participants2021-12-3115
Total funding liabilities for active participants2021-12-31462,764
Total participant count2021-12-3169
Total funding target for all participants2021-12-312,803,731
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-310
Amount remaining of carryover balance2021-12-310
Amount remaining of prefunding balance2021-12-310
Present value of excess contributions2021-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-310
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 contributions2021-12-310
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 date2021-12-310
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 cost2021-12-3110,000
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-310
Additional cash requirement2021-12-310
Contributions allocatedtoward minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: RETIREMENT PLAN FOR EMPLOYEES OF PUERTO RICANCARS, INC. AND RELATED COMPANIES RESIDING IN THE COMMONWEALTH OF PUERTO RICO 2020 401k membership
Market value of plan assets2020-12-312,940,209
Acturial value of plan assets2020-12-312,940,209
Funding target for retired participants and beneficiaries receiving payment2020-12-311,328,055
Number of terminated vested participants2020-12-3128
Fundng target for terminated vested participants2020-12-311,052,625
Active participant vested funding target2020-12-31423,701
Number of active participants2020-12-3115
Total funding liabilities for active participants2020-12-31447,811
Total participant count2020-12-3169
Total funding target for all participants2020-12-312,828,491
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-310
Amount remaining of carryover balance2020-12-310
Amount remaining of prefunding balance2020-12-310
Present value of excess contributions2020-12-3180
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-3184
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 contributions2020-12-310
Total employee contributions2020-12-31122
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 date2020-12-310
Liquidity shortfalls end of Q12020-12-310
Liquidity shortfalls end of Q22020-12-310
Liquidity shortfalls end of Q32020-12-310
Liquidity shortfalls end of Q42020-12-310
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 cost2020-12-3120,000
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-310
Additional cash requirement2020-12-310
Contributions allocatedtoward minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: RETIREMENT PLAN FOR EMPLOYEES OF PUERTO RICANCARS, INC. AND RELATED COMPANIES RESIDING IN THE COMMONWEALTH OF PUERTO RICO 2019 401k membership
Market value of plan assets2019-12-312,486,946
Acturial value of plan assets2019-12-312,595,275
Funding target for retired participants and beneficiaries receiving payment2019-12-311,330,824
Number of terminated vested participants2019-12-3130
Fundng target for terminated vested participants2019-12-311,051,776
Active participant vested funding target2019-12-31321,034
Number of active participants2019-12-3115
Total funding liabilities for active participants2019-12-31349,239
Total participant count2019-12-3169
Total funding target for all participants2019-12-312,731,839
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-310
Amount remaining of carryover balance2019-12-310
Amount remaining of prefunding balance2019-12-310
Present value of excess contributions2019-12-3132
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-3134
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 contributions2019-12-3177,250
Total employee contributions2019-12-3114,344
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 date2019-12-3172,955
Liquidity shortfalls end of Q12019-12-310
Liquidity shortfalls end of Q22019-12-310
Liquidity shortfalls end of Q32019-12-310
Liquidity shortfalls end of Q42019-12-310
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 cost2019-12-3149,661
Net shortfall amortization installment of oustanding balance2019-12-31136,564
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-3172,875
Additional cash requirement2019-12-3172,875
Contributions allocatedtoward minimum required contributions for current year2019-12-3172,955
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: RETIREMENT PLAN FOR EMPLOYEES OF PUERTO RICANCARS, INC. AND RELATED COMPANIES RESIDING IN THE COMMONWEALTH OF PUERTO RICO 2018 401k membership
Market value of plan assets2018-12-312,687,203
Acturial value of plan assets2018-12-312,537,978
Funding target for retired participants and beneficiaries receiving payment2018-12-311,267,631
Number of terminated vested participants2018-12-3131
Fundng target for terminated vested participants2018-12-311,057,255
Active participant vested funding target2018-12-31253,653
Number of active participants2018-12-3111
Total funding liabilities for active participants2018-12-31265,883
Total participant count2018-12-3165
Total funding target for all participants2018-12-312,590,769
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-310
Amount remaining of carryover balance2018-12-310
Amount remaining of prefunding balance2018-12-310
Present value of excess contributions2018-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-310
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-310
Total employer contributions2018-12-3145,921
Total employee contributions2018-12-3112,365
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 date2018-12-3141,793
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 cost2018-12-3133,143
Net shortfall amortization installment of oustanding balance2018-12-3152,791
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-3141,761
Additional cash requirement2018-12-3141,761
Contributions allocatedtoward minimum required contributions for current year2018-12-3141,793
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: RETIREMENT PLAN FOR EMPLOYEES OF PUERTO RICANCARS, INC. AND RELATED COMPANIES RESIDING IN THE COMMONWEALTH OF PUERTO RICO 2017 401k membership
Market value of plan assets2017-12-312,478,211
Acturial value of plan assets2017-12-312,496,446
Funding target for retired participants and beneficiaries receiving payment2017-12-311,230,038
Number of terminated vested participants2017-12-3131
Fundng target for terminated vested participants2017-12-31957,855
Active participant vested funding target2017-12-31189,716
Number of active participants2017-12-3111
Total funding liabilities for active participants2017-12-31196,766
Total participant count2017-12-3165
Total funding target for all participants2017-12-312,384,659
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-310
Amount remaining of carryover balance2017-12-310
Amount remaining of prefunding balance2017-12-310
Present value of excess contributions2017-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-310
Balance of carryovers at beginning of current year2017-12-310
Balance of prefunding at beginning of current year2017-12-310
Total employer contributions2017-12-310
Total employee contributions2017-12-319,629
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 date2017-12-310
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 cost2017-12-3127,045
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-310
Additional cash requirement2017-12-310
Contributions allocatedtoward minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: RETIREMENT PLAN FOR EMPLOYEES OF PUERTO RICANCARS, INC. AND RELATED COMPANIES RESIDING IN THE COMMONWEALTH OF PUERTO RICO 2016 401k membership
Market value of plan assets2016-12-312,415,716
Acturial value of plan assets2016-12-312,478,167
Funding target for retired participants and beneficiaries receiving payment2016-12-311,323,066
Number of terminated vested participants2016-12-3128
Fundng target for terminated vested participants2016-12-31849,411
Active participant vested funding target2016-12-31167,391
Number of active participants2016-12-3114
Total funding liabilities for active participants2016-12-31170,693
Total participant count2016-12-3167
Total funding target for all participants2016-12-312,343,170
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-310
Amount remaining of carryover balance2016-12-310
Amount remaining of prefunding balance2016-12-310
Present value of excess contributions2016-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-310
Balance of carryovers at beginning of current year2016-12-310
Balance of prefunding at beginning of current year2016-12-310
Total employer contributions2016-12-310
Total employee contributions2016-12-3110,733
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 date2016-12-310
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 cost2016-12-3124,751
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-310
Additional cash requirement2016-12-310
Contributions allocatedtoward minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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