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SOUTH BAY CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 401k Plan overview

Plan NameSOUTH BAY CREDIT UNION DEFINED BENEFIT PLAN AND TRUST
Plan identification number 001

SOUTH BAY CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 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

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

Company Name:SOUTH BAY CREDIT UNION
Employer identification number (EIN):951914215
NAIC Classification:522130
NAIC Description:Credit Unions

Additional information about SOUTH BAY CREDIT UNION

Jurisdiction of Incorporation: California Department of State
Incorporation Date: 0000-00-00
Company Identification Number: C0270991
Legal Registered Office Address: 2304 Artesia BlvdRedondo BeachCA90278


United States of America (USA)

More information about SOUTH BAY CREDIT UNION

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SOUTH BAY CREDIT UNION DEFINED BENEFIT PLAN AND TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01DONALD STEINMAN2023-03-28
0012021-01-01DONALD STEINMAN2022-04-26
0012020-01-01DONALD STEINMAN2021-05-10
0012018-01-01DONALD STEINMAN2019-09-20
0012017-01-01DONALD STEINMAN2018-04-26
0012016-01-01DONALD STEINMAN2017-04-06
0012015-01-01DONALD STEINMAN2016-04-14
0012014-01-01DONALD STEINMAN2015-06-22
0012013-01-01DONALD STEINMAN2014-05-22
0012012-01-01DONALD STEINMAN2013-08-05
0012011-01-01DON STEINMAN2012-09-10 DON STEINMAN2012-09-10
0012010-01-01DONALD STEINMAN2011-07-06

Plan Statistics for SOUTH BAY CREDIT UNION DEFINED BENEFIT PLAN AND TRUST

401k plan membership statisitcs for SOUTH BAY CREDIT UNION DEFINED BENEFIT PLAN AND TRUST

Measure Date Value
2022: SOUTH BAY CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2022 401k membership
Market value of plan assets2022-12-311,501,519
Acturial value of plan assets2022-12-311,501,519
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-3113
Fundng target for terminated vested participants2022-12-31445,202
Active participant vested funding target2022-12-31580,096
Number of active participants2022-12-318
Total funding liabilities for active participants2022-12-31580,096
Total participant count2022-12-3122
Total funding target for all participants2022-12-311,025,298
Balance at beginning of prior year after applicable adjustments2022-12-311,206
Prefunding balance at beginning of prior year after applicable adjustments2022-12-3168,402
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 balance2022-12-311,206
Amount remaining of prefunding balance2022-12-3168,402
Present value of excess contributions2022-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-310
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 year2022-12-311,294
Balance of prefunding at beginning of current year2022-12-3173,389
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 cost2022-12-315,833
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 year2022-12-310
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: SOUTH BAY CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2021 401k membership
Market value of plan assets2021-12-311,432,174
Acturial value of plan assets2021-12-311,432,174
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-3114
Fundng target for terminated vested participants2021-12-31425,519
Active participant vested funding target2021-12-31518,776
Number of active participants2021-12-318
Total funding liabilities for active participants2021-12-31518,776
Total participant count2021-12-3123
Total funding target for all participants2021-12-31944,295
Balance at beginning of prior year after applicable adjustments2021-12-311,129
Prefunding balance at beginning of prior year after applicable adjustments2021-12-3164,035
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 balance2021-12-311,129
Amount remaining of prefunding balance2021-12-3164,035
Present value of excess contributions2021-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-310
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 year2021-12-311,206
Balance of prefunding at beginning of current year2021-12-3168,402
Total employer contributions2021-12-310
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 date2021-12-310
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 balance2021-12-310
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 year2021-12-310
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: SOUTH BAY CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2020 401k membership
Market value of plan assets2020-12-311,340,783
Acturial value of plan assets2020-12-311,340,783
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-3114
Fundng target for terminated vested participants2020-12-31407,848
Active participant vested funding target2020-12-31488,745
Number of active participants2020-12-318
Total funding liabilities for active participants2020-12-31488,745
Total participant count2020-12-3123
Total funding target for all participants2020-12-31896,593
Balance at beginning of prior year after applicable adjustments2020-12-311,086
Prefunding balance at beginning of prior year after applicable adjustments2020-12-3161,614
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 balance2020-12-311,086
Amount remaining of prefunding balance2020-12-3161,614
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 elections2020-12-310
Balance of carryovers at beginning of current year2020-12-311,129
Balance of prefunding at beginning of current year2020-12-3164,035
Total employer contributions2020-12-310
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 date2020-12-310
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 cost2020-12-315,240
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 year2020-12-310
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: SOUTH BAY CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2019 401k membership
Market value of plan assets2019-12-311,295,276
Acturial value of plan assets2019-12-311,295,276
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-3114
Fundng target for terminated vested participants2019-12-31377,963
Active participant vested funding target2019-12-31459,432
Number of active participants2019-12-318
Total funding liabilities for active participants2019-12-31459,432
Total participant count2019-12-3123
Total funding target for all participants2019-12-31837,395
Balance at beginning of prior year after applicable adjustments2019-12-311,071
Prefunding balance at beginning of prior year after applicable adjustments2019-12-3160,739
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 balance2019-12-311,071
Amount remaining of prefunding balance2019-12-3160,739
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 year2019-12-311,086
Balance of prefunding at beginning of current year2019-12-3161,614
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 cost2019-12-311,721
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 year2019-12-310
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: SOUTH BAY CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2018 401k membership
Market value of plan assets2018-12-311,278,531
Acturial value of plan assets2018-12-311,278,531
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-3114
Fundng target for terminated vested participants2018-12-31341,909
Active participant vested funding target2018-12-31428,412
Number of active participants2018-12-318
Total funding liabilities for active participants2018-12-31428,412
Total participant count2018-12-3123
Total funding target for all participants2018-12-31770,321
Balance at beginning of prior year after applicable adjustments2018-12-311,058
Prefunding balance at beginning of prior year after applicable adjustments2018-12-3159,977
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 balance2018-12-311,058
Amount remaining of prefunding balance2018-12-3159,977
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 year2018-12-311,071
Balance of prefunding at beginning of current year2018-12-3160,739
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 balance2018-12-310
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 year2018-12-310
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: SOUTH BAY CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2017 401k membership
Market value of plan assets2017-12-311,446,073
Acturial value of plan assets2017-12-311,446,073
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-3116
Fundng target for terminated vested participants2017-12-31440,293
Active participant vested funding target2017-12-31386,897
Number of active participants2017-12-318
Total funding liabilities for active participants2017-12-31386,897
Total participant count2017-12-3125
Total funding target for all participants2017-12-31827,190
Balance at beginning of prior year after applicable adjustments2017-12-311,044
Prefunding balance at beginning of prior year after applicable adjustments2017-12-3159,196
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 balance2017-12-311,044
Amount remaining of prefunding balance2017-12-3159,196
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 year2017-12-311,058
Balance of prefunding at beginning of current year2017-12-3159,977
Total employer contributions2017-12-310
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 date2017-12-310
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 balance2017-12-310
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 year2017-12-310
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: SOUTH BAY CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2016 401k membership
Market value of plan assets2016-12-311,495,857
Acturial value of plan assets2016-12-311,495,857
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-3117
Fundng target for terminated vested participants2016-12-31403,888
Active participant vested funding target2016-12-31399,831
Number of active participants2016-12-319
Total funding liabilities for active participants2016-12-31399,831
Total participant count2016-12-3127
Total funding target for all participants2016-12-31803,719
Balance at beginning of prior year after applicable adjustments2016-12-311,028
Prefunding balance at beginning of prior year after applicable adjustments2016-12-3158,315
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 balance2016-12-311,028
Amount remaining of prefunding balance2016-12-3158,315
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 year2016-12-311,044
Balance of prefunding at beginning of current year2016-12-3159,196
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 cost2016-12-310
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

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