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LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 401k Plan overview

Plan NameLORAIN NATIONAL BANK RETIREMENT PENSION PLAN
Plan identification number 001

LORAIN NATIONAL BANK RETIREMENT 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).
  • 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).

401k Sponsoring company profile

LORAIN NATIONAL BANK has sponsored the creation of one or more 401k plans.

Company Name:LORAIN NATIONAL BANK
Employer identification number (EIN):340869480
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan LORAIN NATIONAL BANK RETIREMENT PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012015-01-01JULIA MCTAVISH
0012014-01-01MARY E. MILES
0012013-01-01MARY E. MILES
0012012-01-01MARY E. MILES
0012011-01-01MARY E. MILES
0012010-01-01MARY E. MILES
0012009-01-01MARY E. MILES

Plan Statistics for LORAIN NATIONAL BANK RETIREMENT PENSION PLAN

401k plan membership statisitcs for LORAIN NATIONAL BANK RETIREMENT PENSION PLAN

Measure Date Value
2015: LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-01121
Total number of active participants reported on line 7a of the Form 55002015-01-010
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-010
Total of all active and inactive participants2015-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-010
2014: LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-01130
Total number of active participants reported on line 7a of the Form 55002014-01-0161
Number of retired or separated participants receiving benefits2014-01-0134
Number of other retired or separated participants entitled to future benefits2014-01-0120
Total of all active and inactive participants2014-01-01115
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-016
Total participants2014-01-01121
Number of participants with account balances2014-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-010
2013: LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2013 401k membership
Total participants, beginning-of-year2013-01-01161
Total number of active participants reported on line 7a of the Form 55002013-01-0170
Number of retired or separated participants receiving benefits2013-01-0132
Number of other retired or separated participants entitled to future benefits2013-01-0122
Total of all active and inactive participants2013-01-01124
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-016
Total participants2013-01-01130
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-010
2012: LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2012 401k membership
Total participants, beginning-of-year2012-01-01171
Total number of active participants reported on line 7a of the Form 55002012-01-0184
Number of retired or separated participants receiving benefits2012-01-0135
Number of other retired or separated participants entitled to future benefits2012-01-0138
Total of all active and inactive participants2012-01-01157
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-01-014
Total participants2012-01-01161
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-010
2011: LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-01176
Total number of active participants reported on line 7a of the Form 55002011-01-0190
Number of retired or separated participants receiving benefits2011-01-0131
Number of other retired or separated participants entitled to future benefits2011-01-0146
Total of all active and inactive participants2011-01-01167
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-014
Total participants2011-01-01171
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-010
2010: LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2010 401k membership
Total participants, beginning-of-year2010-01-01192
Total number of active participants reported on line 7a of the Form 55002010-01-0193
Number of retired or separated participants receiving benefits2010-01-0131
Number of other retired or separated participants entitled to future benefits2010-01-0148
Total of all active and inactive participants2010-01-01172
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-014
Total participants2010-01-01176
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-010
2009: LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-01196
Total number of active participants reported on line 7a of the Form 55002009-01-0197
Number of retired or separated participants receiving benefits2009-01-0131
Number of other retired or separated participants entitled to future benefits2009-01-0156
Total of all active and inactive participants2009-01-01184
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-018
Total participants2009-01-01192
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

Financial Data on LORAIN NATIONAL BANK RETIREMENT PENSION PLAN

Measure Date Value
2015 : LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2015 401k financial data
Total unrealized appreciation/depreciation of assets2015-12-15$0
Total transfer of assets from this plan2015-12-15$3,608,110
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-12-15$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-12-15$55,506
Total income from all sources (including contributions)2015-12-15$28,612
Total loss/gain on sale of assets2015-12-15$0
Total of all expenses incurred2015-12-15$1,819,193
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2015-12-15$1,819,193
Total contributions o plan (from employers,participants, others, non cash contrinutions)2015-12-15$0
Value of total assets at end of year2015-12-15$0
Value of total assets at beginning of year2015-12-15$5,454,197
Total of administrative expenses incurred including professional, contract, advisory and management fees2015-12-15$0
Total interest from all sources2015-12-15$14,500
Total dividends received (eg from common stock, registered investment company shares)2015-12-15$40,178
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2015-12-15No
Total dividends received from registered investment company shares (eg mutual funds)2015-12-15$40,178
Was this plan covered by a fidelity bond2015-12-15Yes
Value of fidelity bond cover2015-12-15$500,000
Were there any nonexempt tranactions with any party-in-interest2015-12-15No
Liabilities. Value of operating payables at beginning of year2015-12-15$55,506
Total non interest bearing cash at end of year2015-12-15$0
Total non interest bearing cash at beginning of year2015-12-15$7,935
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-15No
Value of net income/loss2015-12-15$-1,790,581
Value of net assets at end of year (total assets less liabilities)2015-12-15$0
Value of net assets at beginning of year (total assets less liabilities)2015-12-15$5,398,691
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2015-12-15No
Were any loans by the plan or fixed income obligations due to the plan in default2015-12-15No
Were any leases to which the plan was party in default or uncollectible2015-12-15No
Value of interest in registered invesment companies (eg mutual funds) at end of year2015-12-15$0
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2015-12-15$491,312
Income. Interest from US Government securities2015-12-15$12,062
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2015-12-15$0
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2015-12-15$199,123
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2015-12-15$199,123
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2015-12-15$2,438
Asset value of US Government securities at end of year2015-12-15$0
Asset value of US Government securities at beginning of year2015-12-15$1,342,857
Net investment gain/loss from registered investment companies (e.g. mutual funds)2015-12-15$-26,066
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2015-12-15Yes
Was there a failure to transmit to the plan any participant contributions2015-12-15No
Has the plan failed to provide any benefit when due under the plan2015-12-15No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2015-12-15$1,819,193
Asset. Corporate debt instrument debt (other) at end of year2015-12-15$0
Asset. Corporate debt instrument debt (other) at beginning of year2015-12-15$99,571
Assets. Corporate common stocks other than exployer securities at end of year2015-12-15$0
Assets. Corporate common stocks other than exployer securities at beginning of year2015-12-15$3,313,399
Did the plan have assets held for investment2015-12-15Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-15No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2015-12-15Yes
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2015-12-15Yes
Opinion of an independent qualified public accountant for this plan2015-12-15Disclaimer
Accountancy firm name2015-12-15BAKER TILLY VIRCHOW KRAUSE, LLP
Accountancy firm EIN2015-12-15390859910
2014 : LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2014 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2014-12-31$361,169
Total unrealized appreciation/depreciation of assets2014-12-31$361,169
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-12-31$55,506
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-12-31$33,025
Total income from all sources (including contributions)2014-12-31$501,233
Total loss/gain on sale of assets2014-12-31$0
Total of all expenses incurred2014-12-31$813,472
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2014-12-31$770,277
Total contributions o plan (from employers,participants, others, non cash contrinutions)2014-12-31$0
Value of total assets at end of year2014-12-31$5,454,197
Value of total assets at beginning of year2014-12-31$5,743,955
Total of administrative expenses incurred including professional, contract, advisory and management fees2014-12-31$43,195
Total interest from all sources2014-12-31$20,176
Total dividends received (eg from common stock, registered investment company shares)2014-12-31$119,888
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2014-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2014-12-31$119,888
Administrative expenses professional fees incurred2014-12-31$43,195
Was this plan covered by a fidelity bond2014-12-31Yes
Value of fidelity bond cover2014-12-31$5,000,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2014-12-31$0
Were there any nonexempt tranactions with any party-in-interest2014-12-31No
Contributions received from participants2014-12-31$0
Assets. Other investments not covered elsewhere at end of year2014-12-31$0
Assets. Other investments not covered elsewhere at beginning of year2014-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2014-12-31$0
Liabilities. Value of operating payables at end of year2014-12-31$55,506
Liabilities. Value of operating payables at beginning of year2014-12-31$33,025
Total non interest bearing cash at end of year2014-12-31$7,935
Total non interest bearing cash at beginning of year2014-12-31$6,850
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Income. Non cash contributions2014-12-31$0
Value of net income/loss2014-12-31$-312,239
Value of net assets at end of year (total assets less liabilities)2014-12-31$5,398,691
Value of net assets at beginning of year (total assets less liabilities)2014-12-31$5,710,930
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2014-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2014-12-31No
Were any leases to which the plan was party in default or uncollectible2014-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2014-12-31$491,312
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2014-12-31$571,365
Income. Interest from US Government securities2014-12-31$20,176
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2014-12-31$199,123
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2014-12-31$87,625
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2014-12-31$87,625
Asset value of US Government securities at end of year2014-12-31$1,342,857
Asset value of US Government securities at beginning of year2014-12-31$1,431,723
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2014-12-31Yes
Was there a failure to transmit to the plan any participant contributions2014-12-31No
Has the plan failed to provide any benefit when due under the plan2014-12-31No
Contributions received in cash from employer2014-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2014-12-31$770,277
Asset. Corporate debt instrument debt (other) at end of year2014-12-31$99,571
Asset. Corporate debt instrument debt (other) at beginning of year2014-12-31$0
Assets. Corporate common stocks other than exployer securities at end of year2014-12-31$3,313,399
Assets. Corporate common stocks other than exployer securities at beginning of year2014-12-31$3,646,392
Did the plan have assets held for investment2014-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2014-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2014-12-31No
Opinion of an independent qualified public accountant for this plan2014-12-31Unqualified
Accountancy firm name2014-12-31CROWE HORWATH LLP
Accountancy firm EIN2014-12-31350921680
2013 : LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2013 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2013-12-31$768,690
Total unrealized appreciation/depreciation of assets2013-12-31$768,690
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-31$33,025
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-31$24,200
Total income from all sources (including contributions)2013-12-31$905,084
Total loss/gain on sale of assets2013-12-31$0
Total of all expenses incurred2013-12-31$883,157
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2013-12-31$846,357
Total contributions o plan (from employers,participants, others, non cash contrinutions)2013-12-31$0
Value of total assets at end of year2013-12-31$5,743,955
Value of total assets at beginning of year2013-12-31$5,713,203
Total of administrative expenses incurred including professional, contract, advisory and management fees2013-12-31$36,800
Total interest from all sources2013-12-31$22,584
Total dividends received (eg from common stock, registered investment company shares)2013-12-31$113,810
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2013-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2013-12-31$113,810
Administrative expenses professional fees incurred2013-12-31$36,800
Was this plan covered by a fidelity bond2013-12-31Yes
Value of fidelity bond cover2013-12-31$5,000,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2013-12-31$0
Were there any nonexempt tranactions with any party-in-interest2013-12-31No
Assets. Other investments not covered elsewhere at end of year2013-12-31$0
Assets. Other investments not covered elsewhere at beginning of year2013-12-31$27,219
Value of other receiveables (less allowance for doubtful accounts) at end of year2013-12-31$6,850
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2013-12-31$6,956
Other income not declared elsewhere2013-12-31$0
Liabilities. Value of operating payables at end of year2013-12-31$33,025
Liabilities. Value of operating payables at beginning of year2013-12-31$24,200
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Value of net income/loss2013-12-31$21,927
Value of net assets at end of year (total assets less liabilities)2013-12-31$5,710,930
Value of net assets at beginning of year (total assets less liabilities)2013-12-31$5,689,003
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2013-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2013-12-31No
Were any leases to which the plan was party in default or uncollectible2013-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2013-12-31$571,365
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2013-12-31$680,880
Income. Interest from US Government securities2013-12-31$22,584
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2013-12-31$87,625
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2013-12-31$129,013
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2013-12-31$129,013
Asset value of US Government securities at end of year2013-12-31$1,431,723
Asset value of US Government securities at beginning of year2013-12-31$1,566,178
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2013-12-31Yes
Was there a failure to transmit to the plan any participant contributions2013-12-31No
Has the plan failed to provide any benefit when due under the plan2013-12-31No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2013-12-31$846,357
Assets. Corporate common stocks other than exployer securities at end of year2013-12-31$3,646,392
Assets. Corporate common stocks other than exployer securities at beginning of year2013-12-31$3,302,957
Did the plan have assets held for investment2013-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2013-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2013-12-31No
Opinion of an independent qualified public accountant for this plan2013-12-31Unqualified
Accountancy firm name2013-12-31CROWE HORWATH LLP
Accountancy firm EIN2013-12-31350921680
2012 : LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2012 401k financial data
Unrealized appreciation/depreciation of real estate assets2012-12-31$0
Unrealized appreciation/depreciation of other (non real estate) assets2012-12-31$333,230
Total unrealized appreciation/depreciation of assets2012-12-31$333,230
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$24,200
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$17,425
Total income from all sources (including contributions)2012-12-31$479,903
Total loss/gain on sale of assets2012-12-31$0
Total of all expenses incurred2012-12-31$558,156
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2012-12-31$523,867
Total contributions o plan (from employers,participants, others, non cash contrinutions)2012-12-31$0
Value of total assets at end of year2012-12-31$5,713,203
Value of total assets at beginning of year2012-12-31$5,784,681
Total of administrative expenses incurred including professional, contract, advisory and management fees2012-12-31$34,289
Total interest from all sources2012-12-31$24,459
Total dividends received (eg from common stock, registered investment company shares)2012-12-31$119,059
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2012-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2012-12-31$119,059
Assets. Real estate other than employer real property at end of year2012-12-31$0
Assets. Real estate other than employer real property at beginning of year2012-12-31$0
Administrative expenses professional fees incurred2012-12-31$34,289
Assets. Corporate prefeered stocks other than exployer securities at end of year2012-12-31$0
Assets. Corporate prefeered stocks other than exployer securities at beginning of year2012-12-31$0
Was this plan covered by a fidelity bond2012-12-31Yes
Value of fidelity bond cover2012-12-31$5,000,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-31$0
Were there any nonexempt tranactions with any party-in-interest2012-12-31No
Contributions received from participants2012-12-31$0
Participant contributions at end of year2012-12-31$0
Participant contributions at beginning of year2012-12-31$0
Participant contributions at end of year2012-12-31$0
Participant contributions at beginning of year2012-12-31$0
Assets. Other investments not covered elsewhere at end of year2012-12-31$27,219
Assets. Other investments not covered elsewhere at beginning of year2012-12-31$24,602
Income. Received or receivable in cash from other sources (including rollovers)2012-12-31$0
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2012-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at end of year2012-12-31$6,956
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2012-12-31$8,707
Assets. Loans (other than to participants) at end of year2012-12-31$0
Assets. Loans (other than to participants) at beginning of year2012-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2012-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2012-12-31$0
Other income not declared elsewhere2012-12-31$3,155
Administrative expenses (other) incurred2012-12-31$0
Liabilities. Value of operating payables at end of year2012-12-31$24,200
Liabilities. Value of operating payables at beginning of year2012-12-31$17,425
Total non interest bearing cash at end of year2012-12-31$0
Total non interest bearing cash at beginning of year2012-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Income. Non cash contributions2012-12-31$0
Value of net income/loss2012-12-31$-78,253
Value of net assets at end of year (total assets less liabilities)2012-12-31$5,689,003
Value of net assets at beginning of year (total assets less liabilities)2012-12-31$5,767,256
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2012-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2012-12-31No
Were any leases to which the plan was party in default or uncollectible2012-12-31No
Assets. partnership/joint venture interests at end of year2012-12-31$0
Assets. partnership/joint venture interests at beginning of year2012-12-31$0
Investment advisory and management fees2012-12-31$0
Value of interest in registered invesment companies (eg mutual funds) at end of year2012-12-31$680,880
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2012-12-31$554,372
Value of interest in pooled separate accounts at end of year2012-12-31$0
Value of interest in pooled separate accounts at beginning of year2012-12-31$0
Interest on participant loans2012-12-31$0
Income. Interest from loans (other than to participants)2012-12-31$0
Interest earned on other investments2012-12-31$0
Income. Interest from US Government securities2012-12-31$24,459
Income. Interest from corporate debt instruments2012-12-31$0
Value of interest in master investment trust accounts at end of year2012-12-31$0
Value of interest in master investment trust accounts at beginning of year2012-12-31$0
Value of interest in common/collective trusts at end of year2012-12-31$0
Value of interest in common/collective trusts at beginning of year2012-12-31$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2012-12-31$129,013
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2012-12-31$82,195
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2012-12-31$82,195
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2012-12-31$0
Assets. Value of investments in 103.12 investment entities at end of year2012-12-31$0
Assets. Value of investments in 103.12 investment entities at beginning of year2012-12-31$0
Expenses. Payments to insurance carriers foe the provision of benefits2012-12-31$0
Asset value of US Government securities at end of year2012-12-31$1,566,178
Asset value of US Government securities at beginning of year2012-12-31$1,279,463
Net investment gain/loss from registered investment companies (e.g. mutual funds)2012-12-31$0
Net investment gain/loss from pooled separate accounts2012-12-31$0
Net investment gain or loss from common/collective trusts2012-12-31$0
Net gain/loss from 103.12 investment entities2012-12-31$0
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2012-12-31Yes
Was there a failure to transmit to the plan any participant contributions2012-12-31No
Has the plan failed to provide any benefit when due under the plan2012-12-31No
Assets. Invements in employer securities at end of year2012-12-31$0
Assets. Invements in employer securities at beginning of year2012-12-31$0
Assets. Value of employer real property at end of year2012-12-31$0
Assets. Value of employer real property at beginning of year2012-12-31$0
Contributions received in cash from employer2012-12-31$0
Employer contributions (assets) at end of year2012-12-31$0
Employer contributions (assets) at beginning of year2012-12-31$500,000
Income. Dividends from preferred stock2012-12-31$0
Income. Dividends from common stock2012-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2012-12-31$523,867
Asset. Corporate debt instrument preferred debt at end of year2012-12-31$0
Asset. Corporate debt instrument preferred debt at beginning of year2012-12-31$0
Asset. Corporate debt instrument debt (other) at end of year2012-12-31$0
Asset. Corporate debt instrument debt (other) at beginning of year2012-12-31$0
Contract administrator fees2012-12-31$0
Assets. Corporate common stocks other than exployer securities at end of year2012-12-31$3,302,957
Assets. Corporate common stocks other than exployer securities at beginning of year2012-12-31$3,335,342
Liabilities. Value of benefit claims payable at end of year2012-12-31$0
Liabilities. Value of benefit claims payable at beginning of year2012-12-31$0
Assets. Value of buildings and other operty used in plan operation at end of year2012-12-31$0
Assets. Value of buildings and other operty used in plan operation at beginning of year2012-12-31$0
Did the plan have assets held for investment2012-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2012-12-31No
Aggregate proceeds on sale of assets2012-12-31$0
Aggregate carrying amount (costs) on sale of assets2012-12-31$0
Liabilities. Value of acquisition indebtedness at end of year2012-12-31$0
Liabilities. Value of acquisition indebtedness at beginning of year2012-12-31$0
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2012-12-31No
Opinion of an independent qualified public accountant for this plan2012-12-31Unqualified
Accountancy firm name2012-12-31PLANTE & MORAN, PLLC
Accountancy firm EIN2012-12-31381357951
2011 : LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2011 401k financial data
Unrealized appreciation/depreciation of real estate assets2011-12-31$0
Unrealized appreciation/depreciation of other (non real estate) assets2011-12-31$-1,798
Total unrealized appreciation/depreciation of assets2011-12-31$-1,798
Total transfer of assets to this plan2011-12-31$0
Total transfer of assets from this plan2011-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$17,425
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$21,475
Expenses. Interest paid2011-12-31$0
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022011-12-31$0
Total income from all sources (including contributions)2011-12-31$645,724
Total loss/gain on sale of assets2011-12-31$1,335
Total of all expenses incurred2011-12-31$639,277
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2011-12-31$600,081
Expenses. Certain deemed distributions of participant loans2011-12-31$0
Value of total corrective distributions2011-12-31$0
Total contributions o plan (from employers,participants, others, non cash contrinutions)2011-12-31$500,000
Value of total assets at end of year2011-12-31$5,784,681
Value of total assets at beginning of year2011-12-31$5,782,284
Total of administrative expenses incurred including professional, contract, advisory and management fees2011-12-31$39,196
Total interest from all sources2011-12-31$29,768
Total dividends received (eg from common stock, registered investment company shares)2011-12-31$113,063
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2011-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2011-12-31$19,725
Administrative expenses professional fees incurred2011-12-31$39,196
Was this plan covered by a fidelity bond2011-12-31Yes
Value of fidelity bond cover2011-12-31$5,000,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
Were there any nonexempt tranactions with any party-in-interest2011-12-31No
Contributions received from participants2011-12-31$0
Assets. Other investments not covered elsewhere at end of year2011-12-31$24,602
Assets. Other investments not covered elsewhere at beginning of year2011-12-31$24,812
Income. Received or receivable in cash from other sources (including rollovers)2011-12-31$0
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2011-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at end of year2011-12-31$8,707
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2011-12-31$12,228
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2011-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2011-12-31$0
Other income not declared elsewhere2011-12-31$3,356
Administrative expenses (other) incurred2011-12-31$0
Liabilities. Value of operating payables at end of year2011-12-31$17,425
Liabilities. Value of operating payables at beginning of year2011-12-31$21,475
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Income. Non cash contributions2011-12-31$0
Value of net income/loss2011-12-31$6,447
Value of net assets at end of year (total assets less liabilities)2011-12-31$5,767,256
Value of net assets at beginning of year (total assets less liabilities)2011-12-31$5,760,809
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2011-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2011-12-31No
Were any leases to which the plan was party in default or uncollectible2011-12-31No
Investment advisory and management fees2011-12-31$0
Value of interest in registered invesment companies (eg mutual funds) at end of year2011-12-31$554,372
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2011-12-31$456,298
Interest on participant loans2011-12-31$0
Income. Interest from loans (other than to participants)2011-12-31$0
Interest earned on other investments2011-12-31$0
Income. Interest from US Government securities2011-12-31$29,768
Income. Interest from corporate debt instruments2011-12-31$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2011-12-31$82,195
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2011-12-31$106,757
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2011-12-31$106,757
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2011-12-31$0
Expenses. Payments to insurance carriers foe the provision of benefits2011-12-31$0
Asset value of US Government securities at end of year2011-12-31$1,279,463
Asset value of US Government securities at beginning of year2011-12-31$1,584,554
Net investment gain/loss from registered investment companies (e.g. mutual funds)2011-12-31$0
Net investment gain/loss from pooled separate accounts2011-12-31$0
Net investment gain or loss from common/collective trusts2011-12-31$0
Net gain/loss from 103.12 investment entities2011-12-31$0
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2011-12-31Yes
Was there a failure to transmit to the plan any participant contributions2011-12-31No
Has the plan failed to provide any benefit when due under the plan2011-12-31No
Assets. Invements in employer securities at end of year2011-12-31$0
Assets. Invements in employer securities at beginning of year2011-12-31$0
Assets. Value of employer real property at end of year2011-12-31$0
Assets. Value of employer real property at beginning of year2011-12-31$0
Contributions received in cash from employer2011-12-31$500,000
Employer contributions (assets) at end of year2011-12-31$500,000
Employer contributions (assets) at beginning of year2011-12-31$0
Income. Dividends from preferred stock2011-12-31$0
Income. Dividends from common stock2011-12-31$93,338
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2011-12-31$600,081
Contract administrator fees2011-12-31$0
Assets. Corporate common stocks other than exployer securities at end of year2011-12-31$3,335,342
Assets. Corporate common stocks other than exployer securities at beginning of year2011-12-31$3,597,635
Liabilities. Value of benefit claims payable at end of year2011-12-31$0
Liabilities. Value of benefit claims payable at beginning of year2011-12-31$0
Assets. Value of buildings and other operty used in plan operation at end of year2011-12-31$0
Assets. Value of buildings and other operty used in plan operation at beginning of year2011-12-31$0
Did the plan have assets held for investment2011-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2011-12-31No
Aggregate proceeds on sale of assets2011-12-31$296,335
Aggregate carrying amount (costs) on sale of assets2011-12-31$295,000
Liabilities. Value of acquisition indebtedness at end of year2011-12-31$0
Liabilities. Value of acquisition indebtedness at beginning of year2011-12-31$0
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2011-12-31No
Opinion of an independent qualified public accountant for this plan2011-12-31Unqualified
Accountancy firm name2011-12-31PLANTE & MORAN, PLLC
Accountancy firm EIN2011-12-31381357951
2010 : LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2010 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2010-12-31$472,855
Total unrealized appreciation/depreciation of assets2010-12-31$472,855
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$21,475
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$17,110
Total income from all sources (including contributions)2010-12-31$588,842
Total loss/gain on sale of assets2010-12-31$-276
Total of all expenses incurred2010-12-31$470,858
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2010-12-31$441,583
Total contributions o plan (from employers,participants, others, non cash contrinutions)2010-12-31$0
Value of total assets at end of year2010-12-31$5,782,284
Value of total assets at beginning of year2010-12-31$5,659,935
Total of administrative expenses incurred including professional, contract, advisory and management fees2010-12-31$29,275
Total interest from all sources2010-12-31$40,043
Total dividends received (eg from common stock, registered investment company shares)2010-12-31$73,784
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2010-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2010-12-31$0
Assets. Real estate other than employer real property at end of year2010-12-31$0
Assets. Real estate other than employer real property at beginning of year2010-12-31$0
Administrative expenses professional fees incurred2010-12-31$29,275
Assets. Corporate prefeered stocks other than exployer securities at end of year2010-12-31$0
Assets. Corporate prefeered stocks other than exployer securities at beginning of year2010-12-31$0
Was this plan covered by a fidelity bond2010-12-31Yes
Value of fidelity bond cover2010-12-31$600,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
Were there any nonexempt tranactions with any party-in-interest2010-12-31No
Participant contributions at end of year2010-12-31$0
Participant contributions at beginning of year2010-12-31$0
Participant contributions at end of year2010-12-31$0
Participant contributions at beginning of year2010-12-31$0
Assets. Other investments not covered elsewhere at end of year2010-12-31$24,812
Assets. Other investments not covered elsewhere at beginning of year2010-12-31$25,239
Value of other receiveables (less allowance for doubtful accounts) at end of year2010-12-31$12,228
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2010-12-31$13,775
Assets. Loans (other than to participants) at end of year2010-12-31$0
Assets. Loans (other than to participants) at beginning of year2010-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2010-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2010-12-31$0
Other income not declared elsewhere2010-12-31$2,436
Liabilities. Value of operating payables at end of year2010-12-31$21,475
Liabilities. Value of operating payables at beginning of year2010-12-31$17,110
Total non interest bearing cash at end of year2010-12-31$0
Total non interest bearing cash at beginning of year2010-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Value of net income/loss2010-12-31$117,984
Value of net assets at end of year (total assets less liabilities)2010-12-31$5,760,809
Value of net assets at beginning of year (total assets less liabilities)2010-12-31$5,642,825
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2010-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2010-12-31No
Were any leases to which the plan was party in default or uncollectible2010-12-31No
Assets. partnership/joint venture interests at end of year2010-12-31$0
Assets. partnership/joint venture interests at beginning of year2010-12-31$0
Value of interest in registered invesment companies (eg mutual funds) at end of year2010-12-31$456,298
Income. Interest from US Government securities2010-12-31$17,984
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2010-12-31$106,757
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2010-12-31$29,718
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2010-12-31$29,718
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2010-12-31$22,059
Asset value of US Government securities at end of year2010-12-31$1,584,554
Asset value of US Government securities at beginning of year2010-12-31$1,765,454
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2010-12-31Yes
Was there a failure to transmit to the plan any participant contributions2010-12-31No
Has the plan failed to provide any benefit when due under the plan2010-12-31No
Assets. Invements in employer securities at end of year2010-12-31$0
Assets. Invements in employer securities at beginning of year2010-12-31$129,985
Assets. Value of employer real property at end of year2010-12-31$0
Assets. Value of employer real property at beginning of year2010-12-31$0
Employer contributions (assets) at end of year2010-12-31$0
Employer contributions (assets) at beginning of year2010-12-31$1,400,000
Income. Dividends from common stock2010-12-31$73,784
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2010-12-31$441,583
Asset. Corporate debt instrument preferred debt at end of year2010-12-31$0
Asset. Corporate debt instrument preferred debt at beginning of year2010-12-31$0
Asset. Corporate debt instrument debt (other) at end of year2010-12-31$0
Asset. Corporate debt instrument debt (other) at beginning of year2010-12-31$0
Assets. Corporate common stocks other than exployer securities at end of year2010-12-31$3,597,635
Assets. Corporate common stocks other than exployer securities at beginning of year2010-12-31$2,295,764
Liabilities. Value of benefit claims payable at end of year2010-12-31$0
Liabilities. Value of benefit claims payable at beginning of year2010-12-31$0
Assets. Value of buildings and other operty used in plan operation at end of year2010-12-31$0
Assets. Value of buildings and other operty used in plan operation at beginning of year2010-12-31$0
Did the plan have assets held for investment2010-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2010-12-31No
Aggregate proceeds on sale of assets2010-12-31$543,400
Aggregate carrying amount (costs) on sale of assets2010-12-31$543,676
Liabilities. Value of acquisition indebtedness at end of year2010-12-31$0
Liabilities. Value of acquisition indebtedness at beginning of year2010-12-31$0
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2010-12-31No
Opinion of an independent qualified public accountant for this plan2010-12-31Unqualified
Accountancy firm name2010-12-31PLANTE & MORAN, PLLC
Accountancy firm EIN2010-12-31381357951
2009 : LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for LORAIN NATIONAL BANK RETIREMENT PENSION PLAN

2015: LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingYes
2015-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes
2014: LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Submission has been amendedNo
2014-01-01This submission is the final filingNo
2014-01-01This return/report is a short plan year return/report (less than 12 months)No
2014-01-01Plan is a collectively bargained planNo
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement - TrustYes
2013: LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Submission has been amendedNo
2013-01-01This submission is the final filingNo
2013-01-01This return/report is a short plan year return/report (less than 12 months)No
2013-01-01Plan is a collectively bargained planNo
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement - TrustYes
2012: LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Submission has been amendedNo
2012-01-01This submission is the final filingNo
2012-01-01This return/report is a short plan year return/report (less than 12 months)No
2012-01-01Plan is a collectively bargained planNo
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement - TrustYes
2011: LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedYes
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes
2010: LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedNo
2010-01-01This submission is the final filingNo
2010-01-01This return/report is a short plan year return/report (less than 12 months)No
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement - TrustYes
2009: LORAIN NATIONAL BANK RETIREMENT PENSION PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

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