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MALTA DEVELOPMENT CO., INC. DEFINED BENEFIT PLAN 401k Plan overview

Plan NameMALTA DEVELOPMENT CO., INC. DEFINED BENEFIT PLAN
Plan identification number 002

MALTA DEVELOPMENT CO., INC. DEFINED BENEFIT PLAN 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).
  • Plan covered by PBGC that was terminated and closed out for PBGC purposes - Before the end of the plan year (or a prior plan year), (1) the plan terminated in a standard (or distress) termination and completed the distribution of plan assets in satisfaction of all benefit liabilities (or all ERISA Title IV benefits for distress termination); or (2) a trustee was appointed for a terminated plan pursuant to ERISA section 4042.
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

MALTA DEVELOPMENT CO., INC. has sponsored the creation of one or more 401k plans.

Company Name:MALTA DEVELOPMENT CO., INC.
Employer identification number (EIN):141710768
NAIC Classification:236110

Additional information about MALTA DEVELOPMENT CO., INC.

Jurisdiction of Incorporation: New York Department of State
Incorporation Date: 1988-08-15
Company Identification Number: 1284548
Legal Registered Office Address: 464 Maple Ave
Suite 13
Saratoga Springs
United States of America (USA)
12866

More information about MALTA DEVELOPMENT CO., INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MALTA DEVELOPMENT CO., INC. DEFINED BENEFIT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022020-01-01
0022019-01-01
0022018-01-01
0022017-01-01
0022016-01-01
0022015-01-01
0022014-01-01
0022013-01-01
0022012-01-01THOMAS SAMASCOTT2013-10-08 THOMAS SAMASCOTT2013-10-08
0022011-01-01THOMAS SAMASCOTT2012-10-15 THOMAS SAMASCOTT2012-10-15
0022010-01-01THOMAS SAMASCOTT2011-10-27 THOMAS SAMASCOTT2011-10-27
0022007-01-01THOMAS SAMASCOTT

Plan Statistics for MALTA DEVELOPMENT CO., INC. DEFINED BENEFIT PLAN

401k plan membership statisitcs for MALTA DEVELOPMENT CO., INC. DEFINED BENEFIT PLAN

Measure Date Value
2018: MALTA DEVELOPMENT CO., INC. DEFINED BENEFIT PLAN 2018 401k membership
Market value of plan assets2018-12-313,380,623
Acturial value of plan assets2018-12-313,380,623
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-313
Fundng target for terminated vested participants2018-12-3117,155
Active participant vested funding target2018-12-313,560,178
Number of active participants2018-12-3110
Total funding liabilities for active participants2018-12-313,560,178
Total participant count2018-12-3113
Total funding target for all participants2018-12-313,577,333
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-31370,210
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 balance2018-12-31370,210
Present value of excess contributions2018-12-31470
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-31470
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-31470
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 year2018-12-31400,260
Total employer contributions2018-12-31111,728
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 date2018-12-31103,368
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 years2018-12-310
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 balance2018-12-31619,625
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31103,279
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-31103,279
Contributions allocatedtoward minimum required contributions for current year2018-12-31103,368
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: MALTA DEVELOPMENT CO., INC. DEFINED BENEFIT PLAN 2017 401k membership
Market value of plan assets2017-12-313,235,659
Acturial value of plan assets2017-12-313,235,659
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-315
Fundng target for terminated vested participants2017-12-3118,121
Active participant vested funding target2017-12-312,944,716
Number of active participants2017-12-3111
Total funding liabilities for active participants2017-12-312,947,660
Total participant count2017-12-3116
Total funding target for all participants2017-12-312,965,781
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-31168,256
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 balance2017-12-31168,256
Present value of excess contributions2017-12-31191,960
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-31191,960
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-12-31191,960
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 year2017-12-31370,210
Total employer contributions2017-12-31279,231
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 date2017-12-31258,373
Liquidity shortfalls end of Q12017-12-310
Liquidity shortfalls end of Q22017-12-310
Liquidity shortfalls end of Q32017-12-310
Liquidity shortfalls end of Q42017-12-310
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 cost2017-12-31253,882
Net shortfall amortization installment of oustanding balance2017-12-3115,146
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31257,903
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-31257,903
Contributions allocatedtoward minimum required contributions for current year2017-12-31258,373
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: MALTA DEVELOPMENT CO., INC. DEFINED BENEFIT PLAN 2016 401k membership
Market value of plan assets2016-12-312,557,680
Acturial value of plan assets2016-12-312,557,680
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-314
Fundng target for terminated vested participants2016-12-319,327
Active participant vested funding target2016-12-312,515,362
Number of active participants2016-12-3112
Total funding liabilities for active participants2016-12-312,516,486
Total participant count2016-12-3116
Total funding target for all participants2016-12-312,525,813
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-31156,149
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 balance2016-12-31156,149
Present value of excess contributions2016-12-318,859
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-318,859
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2016-12-318,859
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 year2016-12-31168,256
Total employer contributions2016-12-31463,033
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 date2016-12-31434,765
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 cost2016-12-31238,784
Net shortfall amortization installment of oustanding balance2016-12-3118,470
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-31242,805
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-31242,805
Contributions allocatedtoward minimum required contributions for current year2016-12-31434,765
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310
2007: MALTA DEVELOPMENT CO., INC. DEFINED BENEFIT PLAN 2007 401k membership
Total participants, beginning-of-year2007-01-0114
Total number of active participants reported on line 7a of the Form 55002007-01-0111
Number of retired or separated participants receiving benefits2007-01-010
Number of other retired or separated participants entitled to future benefits2007-01-013
Total of all active and inactive participants2007-01-0114
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2007-01-010
Total participants2007-01-0114
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2007-01-011

Financial Data on MALTA DEVELOPMENT CO., INC. DEFINED BENEFIT PLAN

Measure Date Value
2007 : MALTA DEVELOPMENT CO., INC. DEFINED BENEFIT PLAN 2007 401k financial data
Total income from all sources2007-12-31$199,406
Expenses. Total of all expenses incurred2007-12-31$0
Benefits paid (including direct rollovers)2007-12-31$0
Total plan assets at end of year2007-12-31$587,160
Total plan assets at beginning of year2007-12-31$387,754
Total contributions received or receivable from participants2007-12-31$0
Expenses. Other expenses not covered elsewhere2007-12-31$0
Contributions received from other sources (not participants or employers)2007-12-31$0
Other income received2007-12-31$11,527
Noncash contributions received2007-12-31$0
Net income (gross income less expenses)2007-12-31$199,406
Net plan assets at end of year (total assets less liabilities)2007-12-31$587,160
Net plan assets at beginning of year (total assets less liabilities)2007-12-31$387,754
Total contributions received or receivable from employer(s)2007-12-31$187,879
Value of certain deemed distributions of participant loans2007-12-31$0
Value of corrective distributions2007-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2007-12-31$0

Form 5500 Responses for MALTA DEVELOPMENT CO., INC. DEFINED BENEFIT PLAN

2007: MALTA DEVELOPMENT CO., INC. DEFINED BENEFIT PLAN 2007 form 5500 responses
2007-01-01Type of plan entitySingle employer plan
2007-01-01Submission has been amendedNo
2007-01-01This submission is the final filingNo
2007-01-01This return/report is a short plan year return/report (less than 12 months)No
2007-01-01Plan is a collectively bargained planNo
2007-01-01Plan funding arrangement – InsuranceYes
2007-01-01Plan funding arrangement – TrustYes
2007-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

NATIONWIDE LIFE INSURANCE CO. OF AMERICA (National Association of Insurance Commissioners NAIC id number: 25453 )
Policy contract numberGR006232-201001
Policy instance 1
Insurance contract or identification numberGR006232-201001
Number of Individuals Covered14
Insurance policy start date2007-01-01
Insurance policy end date2007-12-31
Total amount of commissions paid to insurance brokerUSD $1,214
Total amount of fees paid to insurance companyUSD $0
Contracts With Unallocated Funds Deposit Administration1
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $1,214
Insurance broker organization code?3
Insurance broker nameHOWARD GOLDSON

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