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RETIREMENT PLAN FOR EMPLOYEES OF CITIZENS BANK & TRUST COMPANY 401k Plan overview

Plan NameRETIREMENT PLAN FOR EMPLOYEES OF CITIZENS BANK & TRUST COMPANY
Plan identification number 001

RETIREMENT PLAN FOR EMPLOYEES OF CITIZENS BANK & TRUST COMPANY 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).
  • 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

CITIZENS BANK & TRUST COMPANY DC has sponsored the creation of one or more 401k plans.

Company Name:CITIZENS BANK & TRUST COMPANY DC
Employer identification number (EIN):720152830
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan RETIREMENT PLAN FOR EMPLOYEES OF CITIZENS BANK & TRUST COMPANY

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012021-01-01
0012020-01-01
0012019-01-01
0012018-01-01
0012017-01-01
0012016-01-01
0012015-01-01JOYCELYN LAMOTHE2016-10-07
0012014-01-01JOYCELYN LAMOTHE2015-09-04
0012013-01-01JOYCELYN LAMOTHE2014-07-11
0012012-01-01JOYCELYN LAMOTHE2013-10-07
0012011-01-01JOYCELYN LAMOTHE2012-06-29
0012010-01-01JOYCELYN F. LAMOTHE2011-07-25

Plan Statistics for RETIREMENT PLAN FOR EMPLOYEES OF CITIZENS BANK & TRUST COMPANY

401k plan membership statisitcs for RETIREMENT PLAN FOR EMPLOYEES OF CITIZENS BANK & TRUST COMPANY

Measure Date Value
2022: RETIREMENT PLAN FOR EMPLOYEES OF CITIZENS BANK & TRUST COMPANY 2022 401k membership
Market value of plan assets2022-12-3116,711,138
Acturial value of plan assets2022-12-3116,711,138
Funding target for retired participants and beneficiaries receiving payment2022-12-312,332,609
Number of terminated vested participants2022-12-317
Fundng target for terminated vested participants2022-12-31255,762
Active participant vested funding target2022-12-314,874,188
Number of active participants2022-12-3122
Total funding liabilities for active participants2022-12-314,874,188
Total participant count2022-12-3151
Total funding target for all participants2022-12-317,462,559
Balance at beginning of prior year after applicable adjustments2022-12-311,281,091
Prefunding balance at beginning of prior year after applicable adjustments2022-12-312,191,029
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 balance2022-12-311,281,091
Amount remaining of prefunding balance2022-12-312,191,029
Present value of excess contributions2022-12-31488,608
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31516,214
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 elections2022-12-311,281,091
Reductions in prefunding balances due to elections or deemed elections2022-12-312,191,029
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 cost2022-12-31379,927
Net shortfall amortization installment of oustanding balance2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-310
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
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 CITIZENS BANK & TRUST COMPANY 2021 401k membership
Market value of plan assets2021-12-3114,291,202
Acturial value of plan assets2021-12-3114,291,202
Funding target for retired participants and beneficiaries receiving payment2021-12-311,911,312
Number of terminated vested participants2021-12-319
Fundng target for terminated vested participants2021-12-31266,783
Active participant vested funding target2021-12-314,683,025
Number of active participants2021-12-3126
Total funding liabilities for active participants2021-12-314,683,025
Total participant count2021-12-3155
Total funding target for all participants2021-12-316,861,120
Balance at beginning of prior year after applicable adjustments2021-12-311,111,576
Prefunding balance at beginning of prior year after applicable adjustments2021-12-311,901,110
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 balance2021-12-311,111,576
Amount remaining of prefunding balance2021-12-311,901,110
Present value of excess contributions2021-12-31489,066
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-31515,720
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 year2021-12-311,281,091
Balance of prefunding at beginning of current year2021-12-312,191,029
Total employer contributions2021-12-31500,000
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 date2021-12-31488,608
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 cost2021-12-31361,302
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-310
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-310
Contributions allocatedtoward minimum required contributions for current year2021-12-31488,608
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: RETIREMENT PLAN FOR EMPLOYEES OF CITIZENS BANK & TRUST COMPANY 2020 401k membership
Market value of plan assets2020-12-3113,263,033
Acturial value of plan assets2020-12-3113,263,033
Funding target for retired participants and beneficiaries receiving payment2020-12-311,785,851
Number of terminated vested participants2020-12-3120
Fundng target for terminated vested participants2020-12-311,016,457
Active participant vested funding target2020-12-314,473,539
Number of active participants2020-12-3128
Total funding liabilities for active participants2020-12-314,473,539
Total participant count2020-12-3167
Total funding target for all participants2020-12-317,275,847
Balance at beginning of prior year after applicable adjustments2020-12-31906,373
Prefunding balance at beginning of prior year after applicable adjustments2020-12-311,550,155
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 balance2020-12-31906,373
Amount remaining of prefunding balance2020-12-311,550,155
Present value of excess contributions2020-12-31490,841
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-31518,377
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 year2020-12-311,111,576
Balance of prefunding at beginning of current year2020-12-311,901,110
Total employer contributions2020-12-31500,000
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 date2020-12-31489,066
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 cost2020-12-31430,266
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-310
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-310
Contributions allocatedtoward minimum required contributions for current year2020-12-31489,066
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: RETIREMENT PLAN FOR EMPLOYEES OF CITIZENS BANK & TRUST COMPANY 2019 401k membership
Market value of plan assets2019-12-3110,518,389
Acturial value of plan assets2019-12-3110,518,389
Funding target for retired participants and beneficiaries receiving payment2019-12-311,742,723
Number of terminated vested participants2019-12-3117
Fundng target for terminated vested participants2019-12-31231,476
Active participant vested funding target2019-12-314,618,399
Number of active participants2019-12-3132
Total funding liabilities for active participants2019-12-314,618,399
Total participant count2019-12-3167
Total funding target for all participants2019-12-316,592,598
Balance at beginning of prior year after applicable adjustments2019-12-31936,529
Prefunding balance at beginning of prior year after applicable adjustments2019-12-311,601,731
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 balance2019-12-31936,529
Amount remaining of prefunding balance2019-12-311,601,731
Present value of excess contributions2019-12-31491,093
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-31519,478
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 year2019-12-31906,373
Balance of prefunding at beginning of current year2019-12-311,550,155
Total employer contributions2019-12-31500,000
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 date2019-12-31490,841
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 cost2019-12-31407,373
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-310
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-310
Contributions allocatedtoward minimum required contributions for current year2019-12-31490,841
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: RETIREMENT PLAN FOR EMPLOYEES OF CITIZENS BANK & TRUST COMPANY 2018 401k membership
Market value of plan assets2018-12-3110,550,499
Acturial value of plan assets2018-12-3110,550,499
Funding target for retired participants and beneficiaries receiving payment2018-12-311,824,433
Number of terminated vested participants2018-12-3117
Fundng target for terminated vested participants2018-12-31203,222
Active participant vested funding target2018-12-313,801,525
Number of active participants2018-12-3132
Total funding liabilities for active participants2018-12-313,801,525
Total participant count2018-12-3168
Total funding target for all participants2018-12-315,829,180
Balance at beginning of prior year after applicable adjustments2018-12-31816,147
Prefunding balance at beginning of prior year after applicable adjustments2018-12-311,395,844
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 balance2018-12-31816,147
Amount remaining of prefunding balance2018-12-311,395,844
Present value of excess contributions2018-12-31491,341
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-31520,428
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 year2018-12-31936,529
Balance of prefunding at beginning of current year2018-12-311,601,731
Total employer contributions2018-12-31500,000
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 date2018-12-31491,093
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 cost2018-12-31350,177
Net shortfall amortization installment of oustanding balance2018-12-310
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-310
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-310
Contributions allocatedtoward minimum required contributions for current year2018-12-31491,093
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: RETIREMENT PLAN FOR EMPLOYEES OF CITIZENS BANK & TRUST COMPANY 2017 401k membership
Market value of plan assets2017-12-3111,132,527
Acturial value of plan assets2017-12-3111,132,527
Funding target for retired participants and beneficiaries receiving payment2017-12-311,777,753
Number of terminated vested participants2017-12-3117
Fundng target for terminated vested participants2017-12-31185,596
Active participant vested funding target2017-12-315,184,095
Number of active participants2017-12-3133
Total funding liabilities for active participants2017-12-315,184,095
Total participant count2017-12-3168
Total funding target for all participants2017-12-317,147,444
Balance at beginning of prior year after applicable adjustments2017-12-31747,182
Prefunding balance at beginning of prior year after applicable adjustments2017-12-311,277,894
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 balance2017-12-31747,182
Amount remaining of prefunding balance2017-12-311,277,894
Present value of excess contributions2017-12-31489,637
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-31519,603
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 year2017-12-31816,147
Balance of prefunding at beginning of current year2017-12-311,395,844
Total employer contributions2017-12-31500,000
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 date2017-12-31491,341
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 cost2017-12-31316,081
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-310
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-310
Contributions allocatedtoward minimum required contributions for current year2017-12-31491,341
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: RETIREMENT PLAN FOR EMPLOYEES OF CITIZENS BANK & TRUST COMPANY 2016 401k membership
Market value of plan assets2016-12-319,971,026
Acturial value of plan assets2016-12-319,971,026
Funding target for retired participants and beneficiaries receiving payment2016-12-311,607,053
Number of terminated vested participants2016-12-3117
Fundng target for terminated vested participants2016-12-31167,774
Active participant vested funding target2016-12-314,459,497
Number of active participants2016-12-3135
Total funding liabilities for active participants2016-12-314,534,116
Total participant count2016-12-3168
Total funding target for all participants2016-12-316,308,943
Balance at beginning of prior year after applicable adjustments2016-12-31729,243
Prefunding balance at beginning of prior year after applicable adjustments2016-12-311,247,213
Amount remaining of carryover balance2016-12-31729,243
Amount remaining of prefunding balance2016-12-311,247,213
Present value of excess contributions2016-12-31473,884
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-31503,786
Balance of carryovers at beginning of current year2016-12-31747,182
Balance of prefunding at beginning of current year2016-12-311,277,894
Total employer contributions2016-12-31500,000
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 date2016-12-31489,637
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 cost2016-12-31195,052
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 year2016-12-31489,637
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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