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SAN JOAQUIN BIT SERVICE, INC. CASH BALANCE PENSION PLAN AND TRUST 401k Plan overview

Plan NameSAN JOAQUIN BIT SERVICE, INC. CASH BALANCE PENSION PLAN AND TRUST
Plan identification number 003

SAN JOAQUIN BIT SERVICE, INC. CASH BALANCE PENSION PLAN AND TRUST Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Cash balance or similar plan - Plan has a "cash balance" formula. For this purpose, a "cash balance" formula is a benefit formula in a defined benefit plan by whatever name (for example, personal account plan, pension equity plan, life cycle plan, cash account plan, etc.) that rather than, or in addition to, expressing the accrued benefit as a life annuity commencing at normal retirement age, defines benefits for each employee in terms more common to a defined contribution plan such as a single sum distribution amount (for example, 10 percent of final average pay times years of service, or the amount of the employee's hypothetical account balance).
  • 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

SAN JOAQUIN BIT SERVICE, INC. has sponsored the creation of one or more 401k plans.

Company Name:SAN JOAQUIN BIT SERVICE, INC.
Employer identification number (EIN):770472690
NAIC Classification:211120
NAIC Description:Crude Petroleum Extraction

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SAN JOAQUIN BIT SERVICE, INC. CASH BALANCE PENSION PLAN AND TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032020-01-01
0032019-01-01
0032018-01-01
0032017-01-01
0032016-01-01
0032015-01-01
0032014-01-01CHARLES B PETERS2015-10-09 CHARLES B PETERS2015-10-09
0032013-01-01CHARLES B PETERS2014-09-26 CHARLES B PETERS2014-09-26
0032012-01-01CHARLES B PETERS2013-10-07 CHARLES B PETERS2013-10-07
0032011-01-01CHARLES B PETERS2012-10-03 CHARLES B PETERS2012-10-03
0032010-01-01CHARLES PETERS2011-10-06 CHARLES PETERS2011-10-06

Plan Statistics for SAN JOAQUIN BIT SERVICE, INC. CASH BALANCE PENSION PLAN AND TRUST

401k plan membership statisitcs for SAN JOAQUIN BIT SERVICE, INC. CASH BALANCE PENSION PLAN AND TRUST

Measure Date Value
2019: SAN JOAQUIN BIT SERVICE, INC. CASH BALANCE PENSION PLAN AND TRUST 2019 401k membership
Market value of plan assets2019-12-311,360,558
Acturial value of plan assets2019-12-311,360,558
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-317
Fundng target for terminated vested participants2019-12-31100,610
Active participant vested funding target2019-12-311,278,097
Number of active participants2019-12-3111
Total funding liabilities for active participants2019-12-311,278,097
Total participant count2019-12-3118
Total funding target for all participants2019-12-311,378,707
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-310
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 balance2019-12-310
Amount remaining of prefunding balance2019-12-310
Present value of excess contributions2019-12-312,498
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-312,498
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 year2019-12-310
Total employer contributions2019-12-3121,522
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 date2019-12-3120,699
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 balance2019-12-3118,149
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-3120,699
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-3120,699
Contributions allocatedtoward minimum required contributions for current year2019-12-3120,699
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: SAN JOAQUIN BIT SERVICE, INC. CASH BALANCE PENSION PLAN AND TRUST 2018 401k membership
Market value of plan assets2018-12-311,094,852
Acturial value of plan assets2018-12-311,094,852
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-317
Fundng target for terminated vested participants2018-12-3192,773
Active participant vested funding target2018-12-311,265,164
Number of active participants2018-12-3112
Total funding liabilities for active participants2018-12-311,265,164
Total participant count2018-12-3119
Total funding target for all participants2018-12-311,357,937
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-310
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 balance2018-12-310
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
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 year2018-12-310
Balance of prefunding at beginning of current year2018-12-310
Total employer contributions2018-12-3179,100
Total employee contributions2018-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2018-12-3118,251
Contributions made to avoid restrictions adjusted to valuation date2018-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-12-3156,109
Liquidity shortfalls end of Q12018-12-310
Liquidity shortfalls end of Q22018-12-310
Liquidity shortfalls end of Q32018-12-310
Liquidity shortfalls end of Q42018-12-310
Unpaid minimum required contributions for all prior years2018-12-3118,251
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-12-3118,251
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 balance2018-12-31263,085
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-3153,611
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-3153,611
Contributions allocatedtoward minimum required contributions for current year2018-12-3156,109
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: SAN JOAQUIN BIT SERVICE, INC. CASH BALANCE PENSION PLAN AND TRUST 2017 401k membership
Market value of plan assets2017-12-311,195,153
Acturial value of plan assets2017-12-311,195,153
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-317
Fundng target for terminated vested participants2017-12-3183,635
Active participant vested funding target2017-12-311,173,334
Number of active participants2017-12-3112
Total funding liabilities for active participants2017-12-311,174,996
Total participant count2017-12-3119
Total funding target for all participants2017-12-311,258,631
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-310
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 balance2017-12-310
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
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 year2017-12-310
Balance of prefunding at beginning of current year2017-12-310
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 date2017-12-310
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 cost2017-12-310
Net shortfall amortization installment of oustanding balance2017-12-3163,478
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-3118,251
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-3118,251
Contributions allocatedtoward minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for current year2017-12-3118,251
Unpaid minimum required contributions for all years2017-12-3118,251
2016: SAN JOAQUIN BIT SERVICE, INC. CASH BALANCE PENSION PLAN AND TRUST 2016 401k membership
Market value of plan assets2016-12-311,092,395
Acturial value of plan assets2016-12-311,092,395
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-319
Fundng target for terminated vested participants2016-12-3168,342
Active participant vested funding target2016-12-311,140,733
Number of active participants2016-12-3114
Total funding liabilities for active participants2016-12-311,140,733
Total participant count2016-12-3123
Total funding target for all participants2016-12-311,209,075
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2016-12-310
Prefunding balanced used to offset prior years funding requirement2016-12-310
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
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 year2016-12-310
Total employer contributions2016-12-3126,151
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 date2016-12-3124,709
Liquidity shortfalls end of Q12016-12-310
Liquidity shortfalls end of Q22016-12-310
Liquidity shortfalls end of Q32016-12-310
Liquidity shortfalls end of Q42016-12-310
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 cost2016-12-310
Net shortfall amortization installment of oustanding balance2016-12-31118,192
Waiver amortization installment2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-3124,145
Additional cash requirement2016-12-3124,145
Contributions allocatedtoward minimum required contributions for current year2016-12-3124,709
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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