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THE DESCO FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 401k Plan overview

Plan NameTHE DESCO FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST
Plan identification number 001

THE DESCO FEDERAL 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).
  • 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

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

Company Name:DESCO FEDERAL CREDIT UNION
Employer identification number (EIN):316042202
NAIC Classification:522130
NAIC Description:Credit Unions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE DESCO FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-05-01R. LEE POWELL JR.2023-07-26
0012021-05-01R. LEE POWELL JR.2022-08-01
0012020-05-01R. LEE POWELL JR.2021-08-10
0012019-05-01R. LEE POWELL JR.2020-07-08
0012018-05-01R. LEE POWELL JR.2019-07-03
0012017-05-01R. LEE POWELL JR.2018-08-27
0012016-05-01R. LEE POWELL JR.2018-01-11
0012015-05-01R. LEE POWELL JR.2016-12-12
0012014-05-01
0012014-05-01R. LEE POWELL, JR.2015-12-07
0012013-05-01R. LEE POWELL JR2014-11-03
0012012-05-01R. LEE POWELL JR2013-11-22
0012011-05-01R. LEE POWELL, JR.2012-08-21
0012010-05-01R. LEE POWELL, JR.2011-11-21 R. LEE POWELL, JR.2011-11-21

Plan Statistics for THE DESCO FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST

401k plan membership statisitcs for THE DESCO FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST

Measure Date Value
2023: THE DESCO FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2023 401k membership
Market value of plan assets2023-04-308,785,416
Acturial value of plan assets2023-04-308,785,416
Funding target for retired participants and beneficiaries receiving payment2023-04-300
Number of terminated vested participants2023-04-300
Fundng target for terminated vested participants2023-04-300
Active participant vested funding target2023-04-302,761,324
Number of active participants2023-04-3023
Total funding liabilities for active participants2023-04-302,761,324
Total participant count2023-04-3023
Total funding target for all participants2023-04-302,761,324
Balance at beginning of prior year after applicable adjustments2023-04-300
Prefunding balance at beginning of prior year after applicable adjustments2023-04-300
Carryover balanced portion elected for use to offset prior years funding requirement2023-04-300
Prefunding balanced used to offset prior years funding requirement2023-04-300
Amount remaining of carryover balance2023-04-300
Amount remaining of prefunding balance2023-04-300
Present value of excess contributions2023-04-30196,234
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2023-04-30207,400
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2023-04-300
Reductions in caryover balances due to elections or deemed elections2023-04-300
Reductions in prefunding balances due to elections or deemed elections2023-04-300
Balance of carryovers at beginning of current year2023-04-300
Balance of prefunding at beginning of current year2023-04-300
Total employer contributions2023-04-300
Total employee contributions2023-04-300
Contributions allocated toward unpaid minimum require contributions from prior years2023-04-300
Contributions made to avoid restrictions adjusted to valuation date2023-04-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2023-04-300
Unpaid minimum required contributions for all prior years2023-04-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2023-04-300
Remaining amount of unpaid minimum required contributions2023-04-300
Minimum required contributions for current year target normal cost2023-04-30130,371
Net shortfall amortization installment of oustanding balance2023-04-300
Waiver amortization installment2023-04-300
Total funding amount beforereflecting carryover/prefunding balances2023-04-300
Carryover balance elected to use to offset funding requirement2023-04-300
Prefunding balance elected to use to offset funding requirement2023-04-300
Additional cash requirement2023-04-300
Contributions allocatedtoward minimum required contributions for current year2023-04-300
Unpaid minimum required contributions for current year2023-04-300
Unpaid minimum required contributions for all years2023-04-300
2022: THE DESCO FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2022 401k membership
Market value of plan assets2022-04-309,268,808
Acturial value of plan assets2022-04-309,268,808
Funding target for retired participants and beneficiaries receiving payment2022-04-300
Number of terminated vested participants2022-04-300
Fundng target for terminated vested participants2022-04-300
Active participant vested funding target2022-04-302,441,648
Number of active participants2022-04-3023
Total funding liabilities for active participants2022-04-302,441,648
Total participant count2022-04-3023
Total funding target for all participants2022-04-302,441,648
Balance at beginning of prior year after applicable adjustments2022-04-300
Prefunding balance at beginning of prior year after applicable adjustments2022-04-300
Carryover balanced portion elected for use to offset prior years funding requirement2022-04-300
Prefunding balanced used to offset prior years funding requirement2022-04-300
Amount remaining of carryover balance2022-04-300
Amount remaining of prefunding balance2022-04-300
Present value of excess contributions2022-04-30386,445
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-04-30407,970
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-04-300
Reductions in caryover balances due to elections or deemed elections2022-04-300
Reductions in prefunding balances due to elections or deemed elections2022-04-300
Balance of carryovers at beginning of current year2022-04-300
Balance of prefunding at beginning of current year2022-04-300
Total employer contributions2022-04-30200,000
Total employee contributions2022-04-300
Contributions allocated toward unpaid minimum require contributions from prior years2022-04-300
Contributions made to avoid restrictions adjusted to valuation date2022-04-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-04-30196,234
Unpaid minimum required contributions for all prior years2022-04-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-04-300
Remaining amount of unpaid minimum required contributions2022-04-300
Minimum required contributions for current year target normal cost2022-04-30128,508
Net shortfall amortization installment of oustanding balance2022-04-300
Waiver amortization installment2022-04-300
Total funding amount beforereflecting carryover/prefunding balances2022-04-300
Carryover balance elected to use to offset funding requirement2022-04-300
Prefunding balance elected to use to offset funding requirement2022-04-300
Additional cash requirement2022-04-300
Contributions allocatedtoward minimum required contributions for current year2022-04-30196,234
Unpaid minimum required contributions for current year2022-04-300
Unpaid minimum required contributions for all years2022-04-300
2021: THE DESCO FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2021 401k membership
Market value of plan assets2021-04-307,450,167
Acturial value of plan assets2021-04-307,450,167
Funding target for retired participants and beneficiaries receiving payment2021-04-300
Number of terminated vested participants2021-04-300
Fundng target for terminated vested participants2021-04-300
Active participant vested funding target2021-04-302,799,727
Number of active participants2021-04-3027
Total funding liabilities for active participants2021-04-302,799,727
Total participant count2021-04-3027
Total funding target for all participants2021-04-302,799,727
Balance at beginning of prior year after applicable adjustments2021-04-300
Prefunding balance at beginning of prior year after applicable adjustments2021-04-300
Carryover balanced portion elected for use to offset prior years funding requirement2021-04-300
Prefunding balanced used to offset prior years funding requirement2021-04-300
Amount remaining of carryover balance2021-04-300
Amount remaining of prefunding balance2021-04-300
Present value of excess contributions2021-04-30386,976
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-04-30409,111
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-04-300
Reductions in caryover balances due to elections or deemed elections2021-04-300
Reductions in prefunding balances due to elections or deemed elections2021-04-300
Balance of carryovers at beginning of current year2021-04-300
Balance of prefunding at beginning of current year2021-04-300
Total employer contributions2021-04-30400,000
Total employee contributions2021-04-300
Contributions allocated toward unpaid minimum require contributions from prior years2021-04-300
Contributions made to avoid restrictions adjusted to valuation date2021-04-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-04-30386,445
Unpaid minimum required contributions for all prior years2021-04-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-04-300
Remaining amount of unpaid minimum required contributions2021-04-300
Minimum required contributions for current year target normal cost2021-04-30158,768
Net shortfall amortization installment of oustanding balance2021-04-300
Waiver amortization installment2021-04-300
Total funding amount beforereflecting carryover/prefunding balances2021-04-300
Carryover balance elected to use to offset funding requirement2021-04-300
Prefunding balance elected to use to offset funding requirement2021-04-300
Additional cash requirement2021-04-300
Contributions allocatedtoward minimum required contributions for current year2021-04-30386,445
Unpaid minimum required contributions for current year2021-04-300
Unpaid minimum required contributions for all years2021-04-300
2020: THE DESCO FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2020 401k membership
Market value of plan assets2020-04-307,257,174
Acturial value of plan assets2020-04-307,257,174
Funding target for retired participants and beneficiaries receiving payment2020-04-300
Number of terminated vested participants2020-04-302
Fundng target for terminated vested participants2020-04-30452,704
Active participant vested funding target2020-04-302,238,279
Number of active participants2020-04-3026
Total funding liabilities for active participants2020-04-302,238,279
Total participant count2020-04-3028
Total funding target for all participants2020-04-302,690,983
Balance at beginning of prior year after applicable adjustments2020-04-300
Prefunding balance at beginning of prior year after applicable adjustments2020-04-300
Carryover balanced portion elected for use to offset prior years funding requirement2020-04-300
Prefunding balanced used to offset prior years funding requirement2020-04-300
Amount remaining of carryover balance2020-04-300
Amount remaining of prefunding balance2020-04-300
Present value of excess contributions2020-04-30486,800
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-04-30515,424
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-04-300
Reductions in caryover balances due to elections or deemed elections2020-04-300
Reductions in prefunding balances due to elections or deemed elections2020-04-300
Balance of carryovers at beginning of current year2020-04-300
Balance of prefunding at beginning of current year2020-04-300
Total employer contributions2020-04-30400,000
Total employee contributions2020-04-300
Contributions allocated toward unpaid minimum require contributions from prior years2020-04-300
Contributions made to avoid restrictions adjusted to valuation date2020-04-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-04-30386,976
Unpaid minimum required contributions for all prior years2020-04-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-04-300
Remaining amount of unpaid minimum required contributions2020-04-300
Minimum required contributions for current year target normal cost2020-04-30144,440
Net shortfall amortization installment of oustanding balance2020-04-300
Waiver amortization installment2020-04-300
Total funding amount beforereflecting carryover/prefunding balances2020-04-300
Carryover balance elected to use to offset funding requirement2020-04-300
Prefunding balance elected to use to offset funding requirement2020-04-300
Additional cash requirement2020-04-300
Contributions allocatedtoward minimum required contributions for current year2020-04-30386,976
Unpaid minimum required contributions for current year2020-04-300
Unpaid minimum required contributions for all years2020-04-300
2019: THE DESCO FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2019 401k membership
Market value of plan assets2019-04-307,382,530
Acturial value of plan assets2019-04-307,382,530
Funding target for retired participants and beneficiaries receiving payment2019-04-300
Number of terminated vested participants2019-04-301
Fundng target for terminated vested participants2019-04-30208,124
Active participant vested funding target2019-04-302,996,715
Number of active participants2019-04-3032
Total funding liabilities for active participants2019-04-302,996,715
Total participant count2019-04-3033
Total funding target for all participants2019-04-303,204,839
Balance at beginning of prior year after applicable adjustments2019-04-300
Prefunding balance at beginning of prior year after applicable adjustments2019-04-300
Carryover balanced portion elected for use to offset prior years funding requirement2019-04-300
Prefunding balanced used to offset prior years funding requirement2019-04-300
Amount remaining of carryover balance2019-04-300
Amount remaining of prefunding balance2019-04-300
Present value of excess contributions2019-04-30291,896
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-04-30309,614
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-04-300
Reductions in caryover balances due to elections or deemed elections2019-04-300
Reductions in prefunding balances due to elections or deemed elections2019-04-300
Balance of carryovers at beginning of current year2019-04-300
Balance of prefunding at beginning of current year2019-04-300
Total employer contributions2019-04-30500,000
Total employee contributions2019-04-300
Contributions allocated toward unpaid minimum require contributions from prior years2019-04-300
Contributions made to avoid restrictions adjusted to valuation date2019-04-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-04-30486,800
Unpaid minimum required contributions for all prior years2019-04-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-04-300
Remaining amount of unpaid minimum required contributions2019-04-300
Minimum required contributions for current year target normal cost2019-04-30147,856
Net shortfall amortization installment of oustanding balance2019-04-300
Waiver amortization installment2019-04-300
Total funding amount beforereflecting carryover/prefunding balances2019-04-300
Carryover balance elected to use to offset funding requirement2019-04-300
Prefunding balance elected to use to offset funding requirement2019-04-300
Additional cash requirement2019-04-300
Contributions allocatedtoward minimum required contributions for current year2019-04-30486,800
Unpaid minimum required contributions for current year2019-04-300
Unpaid minimum required contributions for all years2019-04-300
2018: THE DESCO FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2018 401k membership
Market value of plan assets2018-04-306,710,284
Acturial value of plan assets2018-04-306,710,284
Funding target for retired participants and beneficiaries receiving payment2018-04-300
Number of terminated vested participants2018-04-300
Fundng target for terminated vested participants2018-04-300
Active participant vested funding target2018-04-302,891,471
Number of active participants2018-04-3034
Total funding liabilities for active participants2018-04-302,891,471
Total participant count2018-04-3034
Total funding target for all participants2018-04-302,891,471
Balance at beginning of prior year after applicable adjustments2018-04-300
Prefunding balance at beginning of prior year after applicable adjustments2018-04-300
Carryover balanced portion elected for use to offset prior years funding requirement2018-04-300
Prefunding balanced used to offset prior years funding requirement2018-04-300
Amount remaining of carryover balance2018-04-300
Amount remaining of prefunding balance2018-04-300
Present value of excess contributions2018-04-30386,346
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-04-30410,493
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-04-300
Reductions in caryover balances due to elections or deemed elections2018-04-300
Reductions in prefunding balances due to elections or deemed elections2018-04-300
Balance of carryovers at beginning of current year2018-04-300
Balance of prefunding at beginning of current year2018-04-300
Total employer contributions2018-04-30300,000
Total employee contributions2018-04-300
Contributions allocated toward unpaid minimum require contributions from prior years2018-04-300
Contributions made to avoid restrictions adjusted to valuation date2018-04-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-04-30291,896
Unpaid minimum required contributions for all prior years2018-04-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-04-300
Remaining amount of unpaid minimum required contributions2018-04-300
Minimum required contributions for current year target normal cost2018-04-30151,844
Net shortfall amortization installment of oustanding balance2018-04-300
Waiver amortization installment2018-04-300
Total funding amount beforereflecting carryover/prefunding balances2018-04-300
Carryover balance elected to use to offset funding requirement2018-04-300
Prefunding balance elected to use to offset funding requirement2018-04-300
Additional cash requirement2018-04-300
Contributions allocatedtoward minimum required contributions for current year2018-04-30291,896
Unpaid minimum required contributions for current year2018-04-300
Unpaid minimum required contributions for all years2018-04-300
2017: THE DESCO FEDERAL CREDIT UNION DEFINED BENEFIT PLAN AND TRUST 2017 401k membership
Market value of plan assets2017-04-305,967,021
Acturial value of plan assets2017-04-305,967,021
Funding target for retired participants and beneficiaries receiving payment2017-04-300
Number of terminated vested participants2017-04-300
Fundng target for terminated vested participants2017-04-300
Active participant vested funding target2017-04-302,593,846
Number of active participants2017-04-3035
Total funding liabilities for active participants2017-04-302,593,846
Total participant count2017-04-3035
Total funding target for all participants2017-04-302,593,846
Balance at beginning of prior year after applicable adjustments2017-04-30181,116
Prefunding balance at beginning of prior year after applicable adjustments2017-04-30715,272
Carryover balanced portion elected for use to offset prior years funding requirement2017-04-300
Prefunding balanced used to offset prior years funding requirement2017-04-300
Amount remaining of carryover balance2017-04-30181,116
Amount remaining of prefunding balance2017-04-30715,272
Present value of excess contributions2017-04-30864,078
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-04-30919,206
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-04-300
Reductions in caryover balances due to elections or deemed elections2017-04-30174,306
Reductions in prefunding balances due to elections or deemed elections2017-04-30688,378
Balance of carryovers at beginning of current year2017-04-300
Balance of prefunding at beginning of current year2017-04-300
Total employer contributions2017-04-30400,000
Total employee contributions2017-04-300
Contributions allocated toward unpaid minimum require contributions from prior years2017-04-300
Contributions made to avoid restrictions adjusted to valuation date2017-04-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-04-30386,346
Unpaid minimum required contributions for all prior years2017-04-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-04-300
Remaining amount of unpaid minimum required contributions2017-04-300
Minimum required contributions for current year target normal cost2017-04-30145,832
Net shortfall amortization installment of oustanding balance2017-04-300
Waiver amortization installment2017-04-300
Waived amount of outstanding balance2017-04-300
Total funding amount beforereflecting carryover/prefunding balances2017-04-300
Carryover balance elected to use to offset funding requirement2017-04-300
Prefunding balance elected to use to offset funding requirement2017-04-300
Additional cash requirement2017-04-300
Contributions allocatedtoward minimum required contributions for current year2017-04-30386,346
Unpaid minimum required contributions for current year2017-04-300
Unpaid minimum required contributions for all years2017-04-300

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