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RETIREMENT PLAN FOR EMPLOYEES OF LOCO CREDIT UNION 401k Plan overview

Plan NameRETIREMENT PLAN FOR EMPLOYEES OF LOCO CREDIT UNION
Plan identification number 001

RETIREMENT PLAN FOR EMPLOYEES OF LOCO 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).
  • 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

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

Company Name:LOCO CREDIT UNION
Employer identification number (EIN):850241088
NAIC Classification:522130
NAIC Description:Credit Unions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan RETIREMENT PLAN FOR EMPLOYEES OF LOCO CREDIT UNION

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01DEANNA SCHLENSIG2024-05-29
0012022-01-01PAM VEGA2023-10-16
0012021-01-01LOUANNE GARCIA2022-10-17
0012021-01-01LOUANNE GARCIA2022-10-17
0012020-01-01PAM VEGA2021-09-29
0012019-01-01PAM VEGA2020-08-18
0012018-01-01PAM VEGA2019-07-30
0012017-01-01PAM VEGA2018-10-09
0012016-01-01PAM VEGA2017-09-26
0012014-01-01PAM VEGA2015-09-15
0012013-01-01PAM VEGA2014-08-12
0012012-01-01PAM VEGA2013-08-16
0012011-01-01PAM VEGA2012-09-24
0012010-01-01SANDRA POWELL2011-05-10

Plan Statistics for RETIREMENT PLAN FOR EMPLOYEES OF LOCO CREDIT UNION

401k plan membership statisitcs for RETIREMENT PLAN FOR EMPLOYEES OF LOCO CREDIT UNION

Measure Date Value
2025: RETIREMENT PLAN FOR EMPLOYEES OF LOCO CREDIT UNION 2025 401k membership
Total number of particpants at beginning of year2025-10-0319
Total number of particpants at end of year2025-10-0318
2024: RETIREMENT PLAN FOR EMPLOYEES OF LOCO CREDIT UNION 2024 401k membership
Total number of particpants at beginning of year2024-05-2820
Total number of particpants at end of year2024-05-2817
2022: RETIREMENT PLAN FOR EMPLOYEES OF LOCO CREDIT UNION 2022 401k membership
Market value of plan assets2022-12-312,518,784
Acturial value of plan assets2022-12-312,518,784
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-312
Fundng target for terminated vested participants2022-12-3157,991
Active participant vested funding target2022-12-311,751,270
Number of active participants2022-12-3114
Total funding liabilities for active participants2022-12-311,776,552
Total participant count2022-12-3116
Total funding target for all participants2022-12-311,834,543
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 contributions2022-12-31186,196
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31196,306
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 contributions2022-12-3194,000
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 date2022-12-3190,824
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 cost2022-12-3153,900
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
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 year2022-12-3190,824
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: RETIREMENT PLAN FOR EMPLOYEES OF LOCO CREDIT UNION 2021 401k membership
Market value of plan assets2021-12-312,507,396
Acturial value of plan assets2021-12-312,507,396
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-313
Fundng target for terminated vested participants2021-12-3154,231
Active participant vested funding target2021-12-311,804,498
Number of active participants2021-12-3117
Total funding liabilities for active participants2021-12-311,848,599
Total participant count2021-12-3120
Total funding target for all participants2021-12-311,902,830
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-310
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 balance2021-12-310
Present value of excess contributions2021-12-31301,758
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-31316,423
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 year2021-12-310
Balance of prefunding at beginning of current year2021-12-310
Total employer contributions2021-12-31191,915
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 date2021-12-31186,196
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 cost2021-12-31133,393
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 year2021-12-31186,196
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: RETIREMENT PLAN FOR EMPLOYEES OF LOCO CREDIT UNION 2020 401k membership
Market value of plan assets2020-12-311,978,428
Acturial value of plan assets2020-12-311,978,428
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-315
Fundng target for terminated vested participants2020-12-3158,566
Active participant vested funding target2020-12-311,456,803
Number of active participants2020-12-3114
Total funding liabilities for active participants2020-12-311,504,805
Total participant count2020-12-3119
Total funding target for all participants2020-12-311,563,371
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-310
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 balance2020-12-310
Amount remaining of prefunding balance2020-12-310
Present value of excess contributions2020-12-31434,374
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-31455,050
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 year2020-12-310
Balance of prefunding at beginning of current year2020-12-310
Total employer contributions2020-12-31308,776
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 date2020-12-31301,758
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 cost2020-12-31249,739
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 year2020-12-31301,758
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: RETIREMENT PLAN FOR EMPLOYEES OF LOCO CREDIT UNION 2019 401k membership
Market value of plan assets2019-12-311,070,005
Acturial value of plan assets2019-12-311,070,005
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-314
Fundng target for terminated vested participants2019-12-3153,277
Active participant vested funding target2019-12-311,151,754
Number of active participants2019-12-3112
Total funding liabilities for active participants2019-12-311,204,144
Total participant count2019-12-3116
Total funding target for all participants2019-12-311,257,421
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 contributions2019-12-312,579
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-312,703
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 contributions2019-12-31700,719
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 date2019-12-31674,153
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 cost2019-12-31208,334
Net shortfall amortization installment of oustanding balance2019-12-31187,416
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31239,779
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-31239,779
Contributions allocatedtoward minimum required contributions for current year2019-12-31674,153
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: RETIREMENT PLAN FOR EMPLOYEES OF LOCO CREDIT UNION 2018 401k membership
Market value of plan assets2018-12-31991,634
Acturial value of plan assets2018-12-31991,634
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-313
Fundng target for terminated vested participants2018-12-3143,684
Active participant vested funding target2018-12-31921,983
Number of active participants2018-12-3112
Total funding liabilities for active participants2018-12-31968,753
Total participant count2018-12-3115
Total funding target for all participants2018-12-311,012,437
Balance at beginning of prior year after applicable adjustments2018-12-317,262
Prefunding balance at beginning of prior year after applicable adjustments2018-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2018-12-317,262
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 contributions2018-12-31188,321
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 date2018-12-31182,241
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 cost2018-12-31175,766
Net shortfall amortization installment of oustanding balance2018-12-3120,803
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31179,662
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-31179,662
Contributions allocatedtoward minimum required contributions for current year2018-12-31182,241
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: RETIREMENT PLAN FOR EMPLOYEES OF LOCO CREDIT UNION 2017 401k membership
Market value of plan assets2017-12-31757,917
Acturial value of plan assets2017-12-31757,917
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-311
Fundng target for terminated vested participants2017-12-31620
Active participant vested funding target2017-12-31732,155
Number of active participants2017-12-3114
Total funding liabilities for active participants2017-12-31775,760
Total participant count2017-12-3115
Total funding target for all participants2017-12-31776,380
Balance at beginning of prior year after applicable adjustments2017-12-316,866
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 balance2017-12-316,866
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 year2017-12-317,262
Balance of prefunding at beginning of current year2017-12-310
Total employer contributions2017-12-31144,896
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 date2017-12-31137,730
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 cost2017-12-31140,768
Net shortfall amortization installment of oustanding balance2017-12-3125,725
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31144,992
Carryover balance elected to use to offset funding requirement2017-12-317,262
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-31137,730
Contributions allocatedtoward minimum required contributions for current year2017-12-31137,730
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: RETIREMENT PLAN FOR EMPLOYEES OF LOCO CREDIT UNION 2016 401k membership
Market value of plan assets2016-12-31716,519
Acturial value of plan assets2016-12-31716,519
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-311
Fundng target for terminated vested participants2016-12-31563
Active participant vested funding target2016-12-31551,658
Number of active participants2016-12-3113
Total funding liabilities for active participants2016-12-31572,095
Total participant count2016-12-3114
Total funding target for all participants2016-12-31572,658
Balance at beginning of prior year after applicable adjustments2016-12-317,028
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 balance2016-12-317,028
Amount remaining of prefunding balance2016-12-310
Present value of excess contributions2016-12-31166,285
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-31176,545
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 year2016-12-316,866
Balance of prefunding at beginning of current year2016-12-310
Total employer contributions2016-12-310
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 date2016-12-310
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 cost2016-12-31110,902
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-310
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-310
Contributions allocatedtoward minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

Financial Data on RETIREMENT PLAN FOR EMPLOYEES OF LOCO CREDIT UNION

Measure Date Value
2025 : RETIREMENT PLAN FOR EMPLOYEES OF LOCO CREDIT UNION 2025 401k financial data
Total transfers to/from plan in this plan year2025-10-030
Total liabilities as of the end of the plan year2025-10-030
Total liabilities as of the beginning of the plan year2025-10-030
Total expenses incurred by plan in this plan year2025-10-03894921
Net assets as of the end of the plan year2025-10-03607373
Total assets as of the beginning of the plan year2025-10-031494675
Value of plan covered by a fidelity bond2025-10-032750000
Participant contributions to plan in this plan year2025-10-030
Other expenses paid from plan in this plan year2025-10-030
Other contributions to plan in this plan year2025-10-030
Other income to plan in this plan year2025-10-037619
Plan net income in this plan year2025-10-03-887302
Net assets as of the end of the plan year2025-10-03607373
Net assets as of the beginning of the plan year2025-10-031494675
Employer contributions to plan in this plan year2025-10-030
Expensese paid to adminstrative service provicers from plan in this plan year2025-10-039020
2024 : RETIREMENT PLAN FOR EMPLOYEES OF LOCO CREDIT UNION 2024 401k financial data
Total transfers to/from plan in this plan year2024-05-280
Total liabilities as of the end of the plan year2024-05-280
Total liabilities as of the beginning of the plan year2024-05-280
Total expenses incurred by plan in this plan year2024-05-28923046
Net assets as of the end of the plan year2024-05-281494675
Total assets as of the beginning of the plan year2024-05-282201078
Value of plan covered by a fidelity bond2024-05-282750000
Participant contributions to plan in this plan year2024-05-280
Other expenses paid from plan in this plan year2024-05-280
Other contributions to plan in this plan year2024-05-280
Other income to plan in this plan year2024-05-28216643
Plan net income in this plan year2024-05-28-706403
Net assets as of the end of the plan year2024-05-281494675
Net assets as of the beginning of the plan year2024-05-282201078
Employer contributions to plan in this plan year2024-05-280
Expensese paid to adminstrative service provicers from plan in this plan year2024-05-283017

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