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NORTHLAND FASTENING SYSTEMS, INC. CASH BALANCE PLAN 401k Plan overview

Plan NameNORTHLAND FASTENING SYSTEMS, INC. CASH BALANCE PLAN
Plan identification number 002

NORTHLAND FASTENING SYSTEMS, INC. CASH BALANCE PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Cash balance or similar plan - Plan has a "cash balance" formula. For this purpose, a "cash balance" formula is a benefit formula in a defined benefit plan by whatever name (for example, personal account plan, pension equity plan, life cycle plan, cash account plan, etc.) that rather than, or in addition to, expressing the accrued benefit as a life annuity commencing at normal retirement age, defines benefits for each employee in terms more common to a defined contribution plan such as a single sum distribution amount (for example, 10 percent of final average pay times years of service, or the amount of the employee's hypothetical account balance).
  • Plan covering Self-Employed individuals.
  • 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

NORTHLAND FASTENING SYSTEMS, INC has sponsored the creation of one or more 401k plans.

Company Name:NORTHLAND FASTENING SYSTEMS, INC
Employer identification number (EIN):411592951
NAIC Classification:332300

Form 5500 Filing Information

Submission information for form 5500 for 401k plan NORTHLAND FASTENING SYSTEMS, INC. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01JASON GODBOUT2023-08-17 JASON GODBOUT2023-08-17
0022021-01-01
0022020-01-01
0022018-01-01JASON GODBOUT2019-05-16 JASON GODBOUT2019-05-16
0022018-01-01JASON GODBOUT2020-03-17 JASON GODBOUT2020-03-17
0022017-01-01KENNETH GODBOUT2018-09-21 JASON GODBOUT2018-09-21
0022016-01-01KENNETH GODBOUT2017-08-16
0022015-01-01KENNETH GODBOUT2016-08-19
0022014-01-01KENNETH GODBOUT2015-08-06 NORTHLAND FASTENING SYSTEMS,INC2015-08-06

Plan Statistics for NORTHLAND FASTENING SYSTEMS, INC. CASH BALANCE PLAN

401k plan membership statisitcs for NORTHLAND FASTENING SYSTEMS, INC. CASH BALANCE PLAN

Measure Date Value
2022: NORTHLAND FASTENING SYSTEMS, INC. CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-31817,703
Acturial value of plan assets2022-12-31817,703
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-314
Fundng target for terminated vested participants2022-12-313,399
Active participant vested funding target2022-12-31559,307
Number of active participants2022-12-316
Total funding liabilities for active participants2022-12-31559,307
Total participant count2022-12-3110
Total funding target for all participants2022-12-31562,706
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2022-12-310
Prefunding balanced used to offset prior years funding requirement2022-12-310
Amount remaining of carryover balance2022-12-310
Amount remaining of prefunding balance2022-12-310
Present value of excess contributions2022-12-31130,000
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31130,000
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-310
Reductions in caryover balances due to elections or deemed elections2022-12-310
Reductions in prefunding balances due to elections or deemed elections2022-12-310
Balance of carryovers at beginning of current year2022-12-310
Balance of prefunding at beginning of current year2022-12-310
Total employer contributions2022-12-31350,000
Total employee contributions2022-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2022-12-310
Contributions made to avoid restrictions adjusted to valuation date2022-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-12-31350,096
Unpaid minimum required contributions for all prior years2022-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-12-310
Remaining amount of unpaid minimum required contributions2022-12-310
Minimum required contributions for current year target normal cost2022-12-31120,484
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-310
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-310
Contributions allocatedtoward minimum required contributions for current year2022-12-31350,096
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: NORTHLAND FASTENING SYSTEMS, INC. CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-31862,981
Acturial value of plan assets2021-12-31862,981
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-312
Fundng target for terminated vested participants2021-12-313,057
Active participant vested funding target2021-12-31368,773
Number of active participants2021-12-315
Total funding liabilities for active participants2021-12-31368,773
Total participant count2021-12-317
Total funding target for all participants2021-12-31371,830
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2021-12-310
Prefunding balanced used to offset prior years funding requirement2021-12-310
Amount remaining of carryover balance2021-12-310
Amount remaining of prefunding balance2021-12-310
Present value of excess contributions2021-12-31130,164
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-31137,714
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-310
Reductions in caryover balances due to elections or deemed elections2021-12-310
Reductions in prefunding balances due to elections or deemed elections2021-12-310
Balance of carryovers at beginning of current year2021-12-310
Balance of prefunding at beginning of current year2021-12-310
Total employer contributions2021-12-31130,000
Total employee contributions2021-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2021-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-12-31130,000
Unpaid minimum required contributions for all prior years2021-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-12-310
Remaining amount of unpaid minimum required contributions2021-12-310
Minimum required contributions for current year target normal cost2021-12-31100,066
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-310
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-310
Contributions allocatedtoward minimum required contributions for current year2021-12-31130,000
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: NORTHLAND FASTENING SYSTEMS, INC. CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-31664,976
Acturial value of plan assets2020-12-31664,976
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-312
Fundng target for terminated vested participants2020-12-312,647
Active participant vested funding target2020-12-31248,573
Number of active participants2020-12-316
Total funding liabilities for active participants2020-12-31248,573
Total participant count2020-12-318
Total funding target for all participants2020-12-31251,220
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2020-12-310
Prefunding balanced used to offset prior years funding requirement2020-12-310
Amount remaining of carryover balance2020-12-310
Amount remaining of prefunding balance2020-12-310
Present value of excess contributions2020-12-31110,018
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-31116,740
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-310
Reductions in caryover balances due to elections or deemed elections2020-12-310
Reductions in prefunding balances due to elections or deemed elections2020-12-310
Balance of carryovers at beginning of current year2020-12-310
Balance of prefunding at beginning of current year2020-12-310
Total employer contributions2020-12-31130,000
Total employee contributions2020-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2020-12-310
Contributions made to avoid restrictions adjusted to valuation date2020-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-12-31130,164
Unpaid minimum required contributions for all prior years2020-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-12-310
Remaining amount of unpaid minimum required contributions2020-12-310
Minimum required contributions for current year target normal cost2020-12-3184,130
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-310
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-310
Contributions allocatedtoward minimum required contributions for current year2020-12-31130,164
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: NORTHLAND FASTENING SYSTEMS, INC. CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-31472,149
Acturial value of plan assets2019-12-31472,149
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-312
Fundng target for terminated vested participants2019-12-312,827
Active participant vested funding target2019-12-31172,521
Number of active participants2019-12-315
Total funding liabilities for active participants2019-12-31172,521
Total participant count2019-12-317
Total funding target for all participants2019-12-31175,348
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2019-12-310
Prefunding balanced used to offset prior years funding requirement2019-12-310
Amount remaining of carryover balance2019-12-310
Amount remaining of prefunding balance2019-12-310
Present value of excess contributions2019-12-31175,373
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-31175,373
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-310
Reductions in caryover balances due to elections or deemed elections2019-12-310
Reductions in prefunding balances due to elections or deemed elections2019-12-310
Balance of carryovers at beginning of current year2019-12-310
Balance of prefunding at beginning of current year2019-12-310
Total employer contributions2019-12-31110,000
Total employee contributions2019-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2019-12-310
Contributions made to avoid restrictions adjusted to valuation date2019-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-12-31110,018
Unpaid minimum required contributions for all prior years2019-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-12-310
Remaining amount of unpaid minimum required contributions2019-12-310
Minimum required contributions for current year target normal cost2019-12-3175,549
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-310
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-310
Contributions allocatedtoward minimum required contributions for current year2019-12-31110,018
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: NORTHLAND FASTENING SYSTEMS, INC. CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-31230,648
Acturial value of plan assets2018-12-31230,648
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-312
Fundng target for terminated vested participants2018-12-313,356
Active participant vested funding target2018-12-31114,894
Number of active participants2018-12-315
Total funding liabilities for active participants2018-12-31114,894
Total participant count2018-12-317
Total funding target for all participants2018-12-31118,250
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-310
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 balance2018-12-310
Present value of excess contributions2018-12-31131,799
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-31131,799
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-310
Reductions in caryover balances due to elections or deemed elections2018-12-310
Reductions in prefunding balances due to elections or deemed elections2018-12-310
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-310
Total employer contributions2018-12-31150,000
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 date2018-12-31150,527
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 cost2018-12-3185,073
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 year2018-12-31150,527
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: NORTHLAND FASTENING SYSTEMS, INC. CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-12-31733,029
Acturial value of plan assets2017-12-31733,029
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-312
Fundng target for terminated vested participants2017-12-31503,356
Active participant vested funding target2017-12-3176,142
Number of active participants2017-12-316
Total funding liabilities for active participants2017-12-3176,679
Total participant count2017-12-318
Total funding target for all participants2017-12-31580,035
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-310
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 balance2017-12-310
Present value of excess contributions2017-12-31107,819
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-31107,819
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 year2017-12-310
Total employer contributions2017-12-31131,004
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 date2017-12-31131,799
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 cost2017-12-31127,379
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 year2017-12-31131,799
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: NORTHLAND FASTENING SYSTEMS, INC. CASH BALANCE PLAN 2016 401k membership
Market value of plan assets2016-12-31455,773
Acturial value of plan assets2016-12-31455,773
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-311
Fundng target for terminated vested participants2016-12-31664
Active participant vested funding target2016-12-31364,405
Number of active participants2016-12-316
Total funding liabilities for active participants2016-12-31364,405
Total participant count2016-12-317
Total funding target for all participants2016-12-31365,069
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-310
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 balance2016-12-310
Present value of excess contributions2016-12-3172,751
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-3172,751
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2016-12-310
Reductions in caryover balances due to elections or deemed elections2016-12-310
Reductions in prefunding balances due to elections or deemed elections2016-12-310
Balance of carryovers at beginning of current year2016-12-310
Balance of prefunding at beginning of current year2016-12-310
Total employer contributions2016-12-31193,366
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 date2016-12-31194,251
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 cost2016-12-31177,040
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-3186,432
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-3186,432
Contributions allocatedtoward minimum required contributions for current year2016-12-31194,251
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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