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RETIREMENT PLAN FOR EMPLOYEES OF FOREST KRAFT FEDERAL CREDIT UNION 401k Plan overview

Plan NameRETIREMENT PLAN FOR EMPLOYEES OF FOREST KRAFT FEDERAL CREDIT UNION
Plan identification number 001

RETIREMENT PLAN FOR EMPLOYEES OF FOREST KRAFT FEDERAL CREDIT UNION 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).

401k Sponsoring company profile

CENTRIC FEDERAL CREDIT UNION has sponsored the creation of one or more 401k plans.

Company Name:CENTRIC FEDERAL CREDIT UNION
Employer identification number (EIN):720488612
NAIC Classification:522130
NAIC Description:Credit Unions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan RETIREMENT PLAN FOR EMPLOYEES OF FOREST KRAFT FEDERAL CREDIT UNION

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012021-01-01
0012020-01-01JOLEEN MARTIN2021-07-15
0012019-01-01JOLEEN MARTIN2020-10-01
0012018-01-01JOLEEN MARTIN2019-07-29
0012017-01-01JOLEEN MARTIN2018-06-05
0012016-01-01JOLEEN MARTIN2017-08-24
0012015-01-01JOLEEN MARTIN2016-09-06
0012014-01-01JOLEEN MARTIN2015-07-20
0012013-01-01JOLEEN MARTIN2014-07-22
0012012-01-01JOLEEN MARTIN2013-07-12
0012011-01-01JOLEEN MARTIN2012-05-30 JOLEEN MARTIN2012-05-30
0012010-01-01JOLEEN MARTIN2011-08-25 JOLEEN MARTIN2011-08-25

Plan Statistics for RETIREMENT PLAN FOR EMPLOYEES OF FOREST KRAFT FEDERAL CREDIT UNION

401k plan membership statisitcs for RETIREMENT PLAN FOR EMPLOYEES OF FOREST KRAFT FEDERAL CREDIT UNION

Measure Date Value
2021: RETIREMENT PLAN FOR EMPLOYEES OF FOREST KRAFT FEDERAL CREDIT UNION 2021 401k membership
Market value of plan assets2021-12-311,230,206
Acturial value of plan assets2021-12-311,230,206
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 target2021-12-311,042,479
Number of active participants2021-12-3110
Total funding liabilities for active participants2021-12-311,042,479
Total participant count2021-12-3110
Total funding target for all participants2021-12-311,042,479
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-3175,307
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 balance2021-12-3175,307
Present value of excess contributions2021-12-31372,199
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-31392,186
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-31392,186
Reductions in caryover balances due to elections or deemed elections2021-12-310
Reductions in prefunding balances due to elections or deemed elections2021-12-3173,824
Balance of carryovers at beginning of current year2021-12-310
Balance of prefunding at beginning of current year2021-12-31396,222
Total employer contributions2021-12-3150
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 date2021-12-3146
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 cost2021-12-310
Net shortfall amortization installment of oustanding balance2021-12-31208,495
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-3119,440
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-3119,394
Additional cash requirement2021-12-3146
Contributions allocatedtoward minimum required contributions for current year2021-12-3146
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: RETIREMENT PLAN FOR EMPLOYEES OF FOREST KRAFT FEDERAL CREDIT UNION 2020 401k membership
Market value of plan assets2020-12-311,033,016
Acturial value of plan assets2020-12-311,033,016
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-3125
Fundng target for terminated vested participants2020-12-31216,448
Active participant vested funding target2020-12-31980,687
Number of active participants2020-12-319
Total funding liabilities for active participants2020-12-31980,687
Total participant count2020-12-3134
Total funding target for all participants2020-12-311,197,135
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-31150,513
Carryover balanced portion elected for use to offset prior years funding requirement2020-12-310
Prefunding balanced used to offset prior years funding requirement2020-12-3121,076
Amount remaining of carryover balance2020-12-310
Amount remaining of prefunding balance2020-12-31129,437
Present value of excess contributions2020-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-310
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 elections2020-12-3158,932
Balance of carryovers at beginning of current year2020-12-310
Balance of prefunding at beginning of current year2020-12-3175,307
Total employer contributions2020-12-31440,840
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 date2020-12-31419,489
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 cost2020-12-310
Net shortfall amortization installment of oustanding balance2020-12-31239,426
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-3147,290
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-3147,290
Contributions allocatedtoward minimum required contributions for current year2020-12-31419,489
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: RETIREMENT PLAN FOR EMPLOYEES OF FOREST KRAFT FEDERAL CREDIT UNION 2019 401k membership
Market value of plan assets2019-12-31996,045
Acturial value of plan assets2019-12-31996,045
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-3124
Fundng target for terminated vested participants2019-12-31193,831
Active participant vested funding target2019-12-31720,673
Number of active participants2019-12-3110
Total funding liabilities for active participants2019-12-31720,673
Total participant count2019-12-3134
Total funding target for all participants2019-12-31914,504
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-31164,332
Carryover balanced portion elected for use to offset prior years funding requirement2019-12-310
Prefunding balanced used to offset prior years funding requirement2019-12-3119,329
Amount remaining of carryover balance2019-12-310
Amount remaining of prefunding balance2019-12-31145,003
Present value of excess contributions2019-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-310
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 year2019-12-31150,513
Total employer contributions2019-12-310
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 date2019-12-310
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 cost2019-12-310
Net shortfall amortization installment of oustanding balance2019-12-3168,972
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-3120,340
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-3120,340
Additional cash requirement2019-12-310
Contributions allocatedtoward minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: RETIREMENT PLAN FOR EMPLOYEES OF FOREST KRAFT FEDERAL CREDIT UNION 2018 401k membership
Market value of plan assets2018-12-31959,539
Acturial value of plan assets2018-12-31959,539
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-3124
Fundng target for terminated vested participants2018-12-31175,613
Active participant vested funding target2018-12-31683,295
Number of active participants2018-12-3110
Total funding liabilities for active participants2018-12-31683,295
Total participant count2018-12-3134
Total funding target for all participants2018-12-31858,908
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-31100,480
Amount remaining of carryover balance2018-12-310
Amount remaining of prefunding balance2018-12-31100,480
Present value of excess contributions2018-12-3156,586
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-3159,953
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-3159,953
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 year2018-12-31164,332
Total employer contributions2018-12-310
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 date2018-12-310
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 cost2018-12-310
Net shortfall amortization installment of oustanding balance2018-12-3163,701
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-3117,062
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-3117,062
Additional cash requirement2018-12-310
Contributions allocatedtoward minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: RETIREMENT PLAN FOR EMPLOYEES OF FOREST KRAFT FEDERAL CREDIT UNION 2017 401k membership
Market value of plan assets2017-12-31850,059
Acturial value of plan assets2017-12-31850,059
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-3123
Fundng target for terminated vested participants2017-12-31158,390
Active participant vested funding target2017-12-31650,370
Number of active participants2017-12-3111
Total funding liabilities for active participants2017-12-31650,370
Total participant count2017-12-3134
Total funding target for all participants2017-12-31808,760
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-3115,038
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 balance2017-12-3115,038
Present value of excess contributions2017-12-3179,965
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3184,883
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-12-3184,883
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 year2017-12-31100,480
Total employer contributions2017-12-3175,000
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 date2017-12-3170,915
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 cost2017-12-310
Net shortfall amortization installment of oustanding balance2017-12-3159,181
Total funding amount beforereflecting carryover/prefunding balances2017-12-3114,329
Additional cash requirement2017-12-3114,329
Contributions allocatedtoward minimum required contributions for current year2017-12-3170,915
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: RETIREMENT PLAN FOR EMPLOYEES OF FOREST KRAFT FEDERAL CREDIT UNION 2016 401k membership
Market value of plan assets2016-12-31752,078
Acturial value of plan assets2016-12-31752,078
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-3111
Fundng target for terminated vested participants2016-12-31186,768
Active participant vested funding target2016-12-31618,816
Number of active participants2016-12-3126
Total funding liabilities for active participants2016-12-31618,816
Total participant count2016-12-3137
Total funding target for all participants2016-12-31805,584
Balance at beginning of prior year after applicable adjustments2016-12-313,958
Prefunding balance at beginning of prior year after applicable adjustments2016-12-3123,524
Carryover balanced portion elected for use to offset prior years funding requirement2016-12-313,958
Prefunding balanced used to offset prior years funding requirement2016-12-319,084
Amount remaining of carryover balance2016-12-310
Amount remaining of prefunding balance2016-12-3114,440
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
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 year2016-12-3115,038
Total employer contributions2016-12-31100,000
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 date2016-12-3194,036
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 cost2016-12-310
Net shortfall amortization installment of oustanding balance2016-12-3168,544
Waiver amortization installment2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-3114,071
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-3114,071
Contributions allocatedtoward minimum required contributions for current year2016-12-3194,036
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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