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PENSION PLAN FOR EMPLOYEES OF WEST GULF MARITIME ASSOCIATION 401k Plan overview

Plan NamePENSION PLAN FOR EMPLOYEES OF WEST GULF MARITIME ASSOCIATION
Plan identification number 001

PENSION PLAN FOR EMPLOYEES OF WEST GULF MARITIME ASSOCIATION 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).
  • 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

WEST GULF MARITIME ASSOCIATION, INC has sponsored the creation of one or more 401k plans.

Company Name:WEST GULF MARITIME ASSOCIATION, INC
Employer identification number (EIN):741596812
NAIC Classification:813000
NAIC Description: Religious, Grantmaking, Civic, Professional, and Similar Organizations

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PENSION PLAN FOR EMPLOYEES OF WEST GULF MARITIME ASSOCIATION

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
0012015-01-01
0012014-01-01NATHAN WESELY2015-10-09
0012013-01-01NATHAN WESELY2014-05-20
0012012-01-01NATHAN WESELY2013-08-05
0012011-01-01NATHAN WESELY2012-10-15
0012010-01-01NATHAN WESELY2011-10-07

Plan Statistics for PENSION PLAN FOR EMPLOYEES OF WEST GULF MARITIME ASSOCIATION

401k plan membership statisitcs for PENSION PLAN FOR EMPLOYEES OF WEST GULF MARITIME ASSOCIATION

Measure Date Value
2022: PENSION PLAN FOR EMPLOYEES OF WEST GULF MARITIME ASSOCIATION 2022 401k membership
Market value of plan assets2022-12-314,629,628
Acturial value of plan assets2022-12-314,629,628
Funding target for retired participants and beneficiaries receiving payment2022-12-313,827,585
Number of terminated vested participants2022-12-313
Fundng target for terminated vested participants2022-12-31159,131
Active participant vested funding target2022-12-31255,402
Number of active participants2022-12-311
Total funding liabilities for active participants2022-12-31255,402
Total participant count2022-12-3118
Total funding target for all participants2022-12-314,242,118
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-316,169
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 balance2022-12-316,169
Present value of excess contributions2022-12-31220,726
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31232,711
Balance of carryovers at beginning of current year2022-12-310
Balance of prefunding at beginning of current year2022-12-317,028
Total employer contributions2022-12-31210,000
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 date2022-12-31207,562
Liquidity shortfalls end of Q12022-12-310
Liquidity shortfalls end of Q22022-12-310
Liquidity shortfalls end of Q32022-12-310
Liquidity shortfalls end of Q42022-12-310
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 cost2022-12-31650
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 year2022-12-31207,562
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: PENSION PLAN FOR EMPLOYEES OF WEST GULF MARITIME ASSOCIATION 2021 401k membership
Market value of plan assets2021-12-314,166,869
Acturial value of plan assets2021-12-314,166,869
Funding target for retired participants and beneficiaries receiving payment2021-12-313,834,459
Number of terminated vested participants2021-12-314
Fundng target for terminated vested participants2021-12-31207,203
Active participant vested funding target2021-12-31229,216
Number of active participants2021-12-311
Total funding liabilities for active participants2021-12-31229,216
Total participant count2021-12-3118
Total funding target for all participants2021-12-314,270,878
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-315,815
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 balance2021-12-315,815
Present value of excess contributions2021-12-31295,237
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-31311,682
Balance of carryovers at beginning of current year2021-12-310
Balance of prefunding at beginning of current year2021-12-316,169
Total employer contributions2021-12-31240,000
Total employee contributions2021-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-12-31234,417
Liquidity shortfalls end of Q12021-12-310
Liquidity shortfalls end of Q22021-12-310
Liquidity shortfalls end of Q32021-12-310
Liquidity shortfalls end of Q42021-12-310
Unpaid minimum required contributions for all prior years2021-12-310
Remaining amount of unpaid minimum required contributions2021-12-310
Minimum required contributions for current year target normal cost2021-12-311,962
Net shortfall amortization installment of oustanding balance2021-12-31110,178
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-3113,691
Additional cash requirement2021-12-3113,691
Contributions allocatedtoward minimum required contributions for current year2021-12-31234,417
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: PENSION PLAN FOR EMPLOYEES OF WEST GULF MARITIME ASSOCIATION 2020 401k membership
Market value of plan assets2020-12-313,967,022
Acturial value of plan assets2020-12-313,967,022
Funding target for retired participants and beneficiaries receiving payment2020-12-313,907,880
Number of terminated vested participants2020-12-314
Fundng target for terminated vested participants2020-12-31191,464
Active participant vested funding target2020-12-31207,393
Number of active participants2020-12-311
Total funding liabilities for active participants2020-12-31207,393
Total participant count2020-12-3118
Total funding target for all participants2020-12-314,306,737
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-314,600
Amount remaining of carryover balance2020-12-310
Amount remaining of prefunding balance2020-12-314,600
Present value of excess contributions2020-12-3156,892
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-3159,936
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 year2020-12-315,815
Total employer contributions2020-12-31343,200
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 date2020-12-31332,116
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 cost2020-12-314,438
Net shortfall amortization installment of oustanding balance2020-12-31345,530
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-3136,879
Additional cash requirement2020-12-3136,879
Contributions allocatedtoward minimum required contributions for current year2020-12-31332,116
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: PENSION PLAN FOR EMPLOYEES OF WEST GULF MARITIME ASSOCIATION 2019 401k membership
Market value of plan assets2019-12-313,256,843
Acturial value of plan assets2019-12-313,256,843
Funding target for retired participants and beneficiaries receiving payment2019-12-314,082,727
Number of terminated vested participants2019-12-314
Fundng target for terminated vested participants2019-12-31181,763
Active participant vested funding target2019-12-31193,885
Number of active participants2019-12-311
Total funding liabilities for active participants2019-12-31193,885
Total participant count2019-12-3118
Total funding target for all participants2019-12-314,458,375
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-315,024
Amount remaining of carryover balance2019-12-310
Amount remaining of prefunding balance2019-12-315,024
Present value of excess contributions2019-12-3145,330
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-3147,841
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 year2019-12-314,600
Total employer contributions2019-12-31328,000
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 date2019-12-31316,483
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 cost2019-12-315,593
Net shortfall amortization installment of oustanding balance2019-12-311,206,132
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31259,591
Additional cash requirement2019-12-31259,591
Contributions allocatedtoward minimum required contributions for current year2019-12-31316,483
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: PENSION PLAN FOR EMPLOYEES OF WEST GULF MARITIME ASSOCIATION 2018 401k membership
Market value of plan assets2018-12-313,690,050
Acturial value of plan assets2018-12-313,501,730
Funding target for retired participants and beneficiaries receiving payment2018-12-314,140,055
Number of terminated vested participants2018-12-314
Fundng target for terminated vested participants2018-12-31167,308
Active participant vested funding target2018-12-31180,047
Number of active participants2018-12-311
Total funding liabilities for active participants2018-12-31180,047
Total participant count2018-12-3118
Total funding target for all participants2018-12-314,487,410
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-314,546
Amount remaining of carryover balance2018-12-310
Amount remaining of prefunding balance2018-12-314,546
Present value of excess contributions2018-12-3172,550
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-3176,852
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-315,024
Total employer contributions2018-12-31225,000
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 date2018-12-31218,015
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 cost2018-12-316,131
Net shortfall amortization installment of oustanding balance2018-12-31990,704
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31172,685
Additional cash requirement2018-12-31172,685
Contributions allocatedtoward minimum required contributions for current year2018-12-31218,015
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: PENSION PLAN FOR EMPLOYEES OF WEST GULF MARITIME ASSOCIATION 2017 401k membership
Market value of plan assets2017-12-313,421,371
Acturial value of plan assets2017-12-313,379,947
Funding target for retired participants and beneficiaries receiving payment2017-12-312,667,711
Number of terminated vested participants2017-12-315
Fundng target for terminated vested participants2017-12-31226,864
Active participant vested funding target2017-12-311,363,605
Number of active participants2017-12-314
Total funding liabilities for active participants2017-12-311,363,605
Total participant count2017-12-3118
Total funding target for all participants2017-12-314,258,180
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-314,080
Amount remaining of carryover balance2017-12-310
Amount remaining of prefunding balance2017-12-314,080
Present value of excess contributions2017-12-3158,159
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3161,619
Balance of carryovers at beginning of current year2017-12-310
Balance of prefunding at beginning of current year2017-12-314,546
Total employer contributions2017-12-31225,000
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 date2017-12-31213,147
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 cost2017-12-316,168
Net shortfall amortization installment of oustanding balance2017-12-31882,779
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31140,597
Additional cash requirement2017-12-31140,597
Contributions allocatedtoward minimum required contributions for current year2017-12-31213,147
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: PENSION PLAN FOR EMPLOYEES OF WEST GULF MARITIME ASSOCIATION 2016 401k membership
Market value of plan assets2016-12-313,094,895
Acturial value of plan assets2016-12-313,256,724
Funding target for retired participants and beneficiaries receiving payment2016-12-312,739,161
Number of terminated vested participants2016-12-315
Fundng target for terminated vested participants2016-12-31205,974
Active participant vested funding target2016-12-311,242,987
Number of active participants2016-12-314
Total funding liabilities for active participants2016-12-311,242,987
Total participant count2016-12-3119
Total funding target for all participants2016-12-314,188,122
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-314,229
Amount remaining of carryover balance2016-12-310
Amount remaining of prefunding balance2016-12-314,229
Present value of excess contributions2016-12-3193,167
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-3198,897
Balance of carryovers at beginning of current year2016-12-310
Balance of prefunding at beginning of current year2016-12-314,080
Total employer contributions2016-12-31225,000
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 date2016-12-31218,304
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 cost2016-12-315,856
Net shortfall amortization installment of oustanding balance2016-12-31935,478
Waiver amortization installment2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-31160,145
Additional cash requirement2016-12-31160,145
Contributions allocatedtoward minimum required contributions for current year2016-12-31218,304
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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