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FIRST COMMUNITY BANK OF MERCERSBURG GROUP PENSION PLAN 401k Plan overview

Plan NameFIRST COMMUNITY BANK OF MERCERSBURG GROUP PENSION PLAN
Plan identification number 001

FIRST COMMUNITY BANK OF MERCERSBURG GROUP PENSION 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.

401k Sponsoring company profile

FIRST COMMUNITY BANK OF MERCERSBURG has sponsored the creation of one or more 401k plans.

Company Name:FIRST COMMUNITY BANK OF MERCERSBURG
Employer identification number (EIN):230867605
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FIRST COMMUNITY BANK OF MERCERSBURG GROUP PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012018-01-01
0012017-01-01
0012016-01-01
0012015-01-01
0012014-01-01ROBERT FIGNAR2015-06-08
0012013-01-01ROBERT FIGNAR2014-06-30
0012012-01-01ROBERT FIGNAR2013-06-07
0012011-01-01ROBERT FIGNAR2012-06-25
0012010-01-01DAVID LYTLE2011-06-01

Plan Statistics for FIRST COMMUNITY BANK OF MERCERSBURG GROUP PENSION PLAN

401k plan membership statisitcs for FIRST COMMUNITY BANK OF MERCERSBURG GROUP PENSION PLAN

Measure Date Value
2018: FIRST COMMUNITY BANK OF MERCERSBURG GROUP PENSION PLAN 2018 401k membership
Market value of plan assets2018-12-311,991,496
Acturial value of plan assets2018-12-311,852,534
Funding target for retired participants and beneficiaries receiving payment2018-12-31325,659
Number of terminated vested participants2018-12-310
Fundng target for terminated vested participants2018-12-310
Active participant vested funding target2018-12-311,004,380
Number of active participants2018-12-3117
Total funding liabilities for active participants2018-12-311,004,380
Total participant count2018-12-3121
Total funding target for all participants2018-12-311,330,039
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-31157,791
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 balance2018-12-31157,791
Present value of excess contributions2018-12-31149,712
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-31158,725
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-31158,725
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 year2018-12-31346,212
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 cost2018-12-317,000
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: FIRST COMMUNITY BANK OF MERCERSBURG GROUP PENSION PLAN 2017 401k membership
Market value of plan assets2017-12-311,561,267
Acturial value of plan assets2017-12-311,586,485
Funding target for retired participants and beneficiaries receiving payment2017-12-31316,768
Number of terminated vested participants2017-12-310
Fundng target for terminated vested participants2017-12-310
Active participant vested funding target2017-12-31905,466
Number of active participants2017-12-3117
Total funding liabilities for active participants2017-12-31905,466
Total participant count2017-12-3121
Total funding target for all participants2017-12-311,222,234
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-31147,869
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 balance2017-12-31147,869
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 year2017-12-31157,791
Total employer contributions2017-12-31150,000
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 date2017-12-31149,712
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 cost2017-12-317,000
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 year2017-12-31149,712
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: FIRST COMMUNITY BANK OF MERCERSBURG GROUP PENSION PLAN 2016 401k membership
Market value of plan assets2016-12-311,498,670
Acturial value of plan assets2016-12-311,543,754
Funding target for retired participants and beneficiaries receiving payment2016-12-31319,661
Number of terminated vested participants2016-12-310
Fundng target for terminated vested participants2016-12-310
Active participant vested funding target2016-12-31825,230
Number of active participants2016-12-3117
Total funding liabilities for active participants2016-12-31825,230
Total participant count2016-12-3121
Total funding target for all participants2016-12-311,144,891
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-3148,033
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 balance2016-12-3148,033
Present value of excess contributions2016-12-3193,217
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-3199,202
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2016-12-3199,202
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 year2016-12-31147,869
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 cost2016-12-318,000
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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