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NEW CENTURY PARTNERS DEFINED BENEFIT PLAN 401k Plan overview

Plan NameNEW CENTURY PARTNERS DEFINED BENEFIT PLAN
Plan identification number 001

NEW CENTURY PARTNERS 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

NEW CENTURY PARTNERS has sponsored the creation of one or more 401k plans.

Company Name:NEW CENTURY PARTNERS
Employer identification number (EIN):680189192
NAIC Classification:523900

Additional information about NEW CENTURY PARTNERS

Jurisdiction of Incorporation: California Department of State
Incorporation Date:
Company Identification Number: C1634561

More information about NEW CENTURY PARTNERS

Form 5500 Filing Information

Submission information for form 5500 for 401k plan NEW CENTURY PARTNERS DEFINED BENEFIT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01STEVEN D. CALLOW2023-08-26
0012022-01-01STEVEN D. CALLOW2023-03-07
0012021-01-01STEVEN D. CALLOW2022-05-18
0012012-01-01WEI GUO YU

Plan Statistics for NEW CENTURY PARTNERS DEFINED BENEFIT PLAN

401k plan membership statisitcs for NEW CENTURY PARTNERS DEFINED BENEFIT PLAN

Measure Date Value
2023: NEW CENTURY PARTNERS DEFINED BENEFIT PLAN 2023 401k membership
Market value of plan assets2023-07-315,950,187
Acturial value of plan assets2023-07-315,950,187
Funding target for retired participants and beneficiaries receiving payment2023-07-310
Number of terminated vested participants2023-07-310
Fundng target for terminated vested participants2023-07-310
Active participant vested funding target2023-07-314,924,417
Number of active participants2023-07-314
Total funding liabilities for active participants2023-07-314,932,497
Total participant count2023-07-314
Total funding target for all participants2023-07-314,932,497
Balance at beginning of prior year after applicable adjustments2023-07-310
Prefunding balance at beginning of prior year after applicable adjustments2023-07-310
Carryover balanced portion elected for use to offset prior years funding requirement2023-07-310
Prefunding balanced used to offset prior years funding requirement2023-07-310
Amount remaining of carryover balance2023-07-310
Amount remaining of prefunding balance2023-07-310
Present value of excess contributions2023-07-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2023-07-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2023-07-310
Reductions in caryover balances due to elections or deemed elections2023-07-310
Reductions in prefunding balances due to elections or deemed elections2023-07-310
Balance of carryovers at beginning of current year2023-07-310
Balance of prefunding at beginning of current year2023-07-310
Total employer contributions2023-07-310
Total employee contributions2023-07-310
Contributions allocated toward unpaid minimum require contributions from prior years2023-07-310
Contributions made to avoid restrictions adjusted to valuation date2023-07-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2023-07-310
Unpaid minimum required contributions for all prior years2023-07-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2023-07-310
Remaining amount of unpaid minimum required contributions2023-07-310
Minimum required contributions for current year target normal cost2023-07-31750,603
Total funding amount beforereflecting carryover/prefunding balances2023-07-310
Additional cash requirement2023-07-310
Contributions allocatedtoward minimum required contributions for current year2023-07-310
Unpaid minimum required contributions for current year2023-07-310
Unpaid minimum required contributions for all years2023-07-310
Total participants, beginning-of-year2023-01-014
Total number of active participants reported on line 7a of the Form 55002023-01-010
Number of retired or separated participants receiving benefits2023-01-010
Number of other retired or separated participants entitled to future benefits2023-01-010
Total of all active and inactive participants2023-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2023-01-010
Total participants2023-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2023-01-010
2022: NEW CENTURY PARTNERS DEFINED BENEFIT PLAN 2022 401k membership
Market value of plan assets2022-12-317,118,355
Acturial value of plan assets2022-12-317,118,355
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 target2022-12-313,777,646
Number of active participants2022-12-313
Total funding liabilities for active participants2022-12-313,777,646
Total participant count2022-12-313
Total funding target for all participants2022-12-313,777,646
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 contributions2022-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-310
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 contributions2022-12-310
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
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 cost2022-12-31817,962
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
Total participants, beginning-of-year2022-01-014
Total number of active participants reported on line 7a of the Form 55002022-01-014
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-010
Total of all active and inactive participants2022-01-014
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-014
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: NEW CENTURY PARTNERS DEFINED BENEFIT PLAN 2021 401k membership
Market value of plan assets2021-12-316,402,473
Acturial value of plan assets2021-12-316,402,473
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 target2021-12-313,147,920
Number of active participants2021-12-312
Total funding liabilities for active participants2021-12-313,179,938
Total participant count2021-12-312
Total funding target for all participants2021-12-313,179,938
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-31991,614
Prefunding balanced used to offset prior years funding requirement2021-12-310
Amount remaining of carryover balance2021-12-310
Amount remaining of prefunding balance2021-12-31991,614
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 prefunding balances due to elections or deemed elections2021-12-31991,614
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 cost2021-12-3132,017
Total funding amount beforereflecting carryover/prefunding balances2021-12-310
Carryover balance elected to use to offset funding requirement2021-12-310
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
Total participants, beginning-of-year2021-01-013
Total number of active participants reported on line 7a of the Form 55002021-01-013
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-010
Total of all active and inactive participants2021-01-013
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-013
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010
2012: NEW CENTURY PARTNERS DEFINED BENEFIT PLAN 2012 401k membership
Total participants, beginning-of-year2012-01-011
Total number of active participants reported on line 7a of the Form 55002012-01-011
Number of retired or separated participants receiving benefits2012-01-010
Number of other retired or separated participants entitled to future benefits2012-01-010
Total of all active and inactive participants2012-01-011
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-01-010
Total participants2012-01-011
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-010

Financial Data on NEW CENTURY PARTNERS DEFINED BENEFIT PLAN

Measure Date Value
2023 : NEW CENTURY PARTNERS DEFINED BENEFIT PLAN 2023 401k financial data
Total plan liabilities at end of year2023-07-31$0
Total plan liabilities at beginning of year2023-07-31$0
Total income from all sources2023-07-31$-141,683
Expenses. Total of all expenses incurred2023-07-31$5,808,504
Benefits paid (including direct rollovers)2023-07-31$5,808,504
Total plan assets at end of year2023-07-31$0
Total plan assets at beginning of year2023-07-31$5,950,187
Total contributions received or receivable from participants2023-07-31$0
Expenses. Other expenses not covered elsewhere2023-07-31$0
Contributions received from other sources (not participants or employers)2023-07-31$0
Other income received2023-07-31$-141,683
Noncash contributions received2023-07-31$0
Net income (gross income less expenses)2023-07-31$-5,950,187
Net plan assets at end of year (total assets less liabilities)2023-07-31$0
Net plan assets at beginning of year (total assets less liabilities)2023-07-31$5,950,187
Total contributions received or receivable from employer(s)2023-07-31$0
Value of certain deemed distributions of participant loans2023-07-31$0
Value of corrective distributions2023-07-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2023-07-31$0
2022 : NEW CENTURY PARTNERS DEFINED BENEFIT PLAN 2022 401k financial data
Total plan liabilities at end of year2022-12-31$0
Total plan liabilities at beginning of year2022-12-31$0
Total income from all sources2022-12-31$-917,316
Expenses. Total of all expenses incurred2022-12-31$250,852
Benefits paid (including direct rollovers)2022-12-31$250,852
Total plan assets at end of year2022-12-31$5,950,187
Total plan assets at beginning of year2022-12-31$7,118,355
Total contributions received or receivable from participants2022-12-31$0
Expenses. Other expenses not covered elsewhere2022-12-31$0
Contributions received from other sources (not participants or employers)2022-12-31$0
Other income received2022-12-31$-917,316
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$-1,168,168
Net plan assets at end of year (total assets less liabilities)2022-12-31$5,950,187
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$7,118,355
Total contributions received or receivable from employer(s)2022-12-31$0
Value of certain deemed distributions of participant loans2022-12-31$0
Value of corrective distributions2022-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$0
2021 : NEW CENTURY PARTNERS DEFINED BENEFIT PLAN 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$965,539
Expenses. Total of all expenses incurred2021-12-31$249,657
Benefits paid (including direct rollovers)2021-12-31$249,657
Total plan assets at end of year2021-12-31$7,118,355
Total plan assets at beginning of year2021-12-31$6,402,473
Total contributions received or receivable from participants2021-12-31$0
Expenses. Other expenses not covered elsewhere2021-12-31$0
Contributions received from other sources (not participants or employers)2021-12-31$0
Other income received2021-12-31$965,539
Noncash contributions received2021-12-31$0
Net income (gross income less expenses)2021-12-31$715,882
Net plan assets at end of year (total assets less liabilities)2021-12-31$7,118,355
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$6,402,473
Total contributions received or receivable from employer(s)2021-12-31$0
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$0
2012 : NEW CENTURY PARTNERS DEFINED BENEFIT PLAN 2012 401k financial data
Transfers to/from the plan2012-12-31$0
Total plan liabilities at end of year2012-12-31$0
Total plan liabilities at beginning of year2012-12-31$0
Total income from all sources2012-12-31$425,998
Expenses. Total of all expenses incurred2012-12-31$0
Benefits paid (including direct rollovers)2012-12-31$0
Total plan assets at end of year2012-12-31$2,274,817
Total plan assets at beginning of year2012-12-31$1,848,819
Total contributions received or receivable from participants2012-12-31$0
Expenses. Other expenses not covered elsewhere2012-12-31$0
Contributions received from other sources (not participants or employers)2012-12-31$0
Other income received2012-12-31$285,998
Noncash contributions received2012-12-31$0
Net income (gross income less expenses)2012-12-31$425,998
Net plan assets at end of year (total assets less liabilities)2012-12-31$2,274,817
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$1,848,819
Total contributions received or receivable from employer(s)2012-12-31$140,000
Value of certain deemed distributions of participant loans2012-12-31$0
Value of corrective distributions2012-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2012-12-31$0

Form 5500 Responses for NEW CENTURY PARTNERS DEFINED BENEFIT PLAN

2023: NEW CENTURY PARTNERS DEFINED BENEFIT PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01Submission has been amendedNo
2023-01-01This submission is the final filingYes
2023-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2023-01-01Plan is a collectively bargained planNo
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement - TrustYes
2022: NEW CENTURY PARTNERS DEFINED BENEFIT PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: NEW CENTURY PARTNERS DEFINED BENEFIT PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedNo
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2012: NEW CENTURY PARTNERS DEFINED BENEFIT PLAN 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Submission has been amendedNo
2012-01-01This submission is the final filingNo
2012-01-01This return/report is a short plan year return/report (less than 12 months)No
2012-01-01Plan is a collectively bargained planNo
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement - TrustYes

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