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LIGON & LIGON, INC. RETIREMENT INCOME PLAN 401k Plan overview

Plan NameLIGON & LIGON, INC. RETIREMENT INCOME PLAN
Plan identification number 001

LIGON & LIGON, INC. RETIREMENT INCOME 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).
  • 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

LIGON & LIGON, INC. has sponsored the creation of one or more 401k plans.

Company Name:LIGON & LIGON, INC.
Employer identification number (EIN):520566894
NAIC Classification:237100

Form 5500 Filing Information

Submission information for form 5500 for 401k plan LIGON & LIGON, INC. RETIREMENT INCOME PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012021-12-01EVELYN SERPE2023-09-13 EVELYN SERPE2023-09-13
0012020-12-01EVELYN SERPE2022-09-15 EVELYN SERPE2022-09-15
0012019-12-01PETER LIGON2021-09-10 PETER LIGON2021-09-10
0012018-12-01PETER LIGON2020-09-14 PETER LIGON2020-09-14
0012017-12-01PETER LIGON2019-09-12 PETER LIGON2019-09-12
0012016-12-01PETER LIGON2018-09-13 PETER LIGON2018-09-13
0012015-12-01PETER LIGON2017-09-15 PETER LIGON2017-09-15
0012014-12-01PETER LIGON2016-09-14 PETER LIGON2016-09-14
0012013-12-01PETER LIGON2015-09-15 PETER LIGON2015-09-15
0012012-12-01PETER LIGON2014-09-13 PETER LIGON2014-09-13
0012011-12-01PETER LIGON2013-09-13 PETER LIGON2013-09-13
0012009-12-01PETER LIGON
0012009-12-01 PETER LIGON2011-09-21

Plan Statistics for LIGON & LIGON, INC. RETIREMENT INCOME PLAN

401k plan membership statisitcs for LIGON & LIGON, INC. RETIREMENT INCOME PLAN

Measure Date Value
2022: LIGON & LIGON, INC. RETIREMENT INCOME PLAN 2022 401k membership
Market value of plan assets2022-11-308,537,473
Acturial value of plan assets2022-11-308,128,231
Funding target for retired participants and beneficiaries receiving payment2022-11-303,671,129
Number of terminated vested participants2022-11-3024
Fundng target for terminated vested participants2022-11-30799,282
Active participant vested funding target2022-11-302,026,947
Number of active participants2022-11-3051
Total funding liabilities for active participants2022-11-302,041,156
Total participant count2022-11-30101
Total funding target for all participants2022-11-306,511,567
Balance at beginning of prior year after applicable adjustments2022-11-300
Prefunding balance at beginning of prior year after applicable adjustments2022-11-3033,307
Carryover balanced portion elected for use to offset prior years funding requirement2022-11-300
Prefunding balanced used to offset prior years funding requirement2022-11-300
Amount remaining of carryover balance2022-11-300
Amount remaining of prefunding balance2022-11-3033,307
Present value of excess contributions2022-11-30596,562
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-11-30631,163
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-11-30631,163
Balance of carryovers at beginning of current year2022-11-300
Balance of prefunding at beginning of current year2022-11-30668,447
Total employer contributions2022-11-30640,000
Total employee contributions2022-11-300
Contributions allocated toward unpaid minimum require contributions from prior years2022-11-300
Contributions made to avoid restrictions adjusted to valuation date2022-11-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-11-30584,442
Unpaid minimum required contributions for all prior years2022-11-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-11-300
Remaining amount of unpaid minimum required contributions2022-11-300
Minimum required contributions for current year target normal cost2022-11-30308,669
Net shortfall amortization installment of oustanding balance2022-11-300
Waiver amortization installment2022-11-300
Total funding amount beforereflecting carryover/prefunding balances2022-11-300
Carryover balance elected to use to offset funding requirement2022-11-300
Prefunding balance elected to use to offset funding requirement2022-11-300
Additional cash requirement2022-11-300
Contributions allocatedtoward minimum required contributions for current year2022-11-30584,442
Unpaid minimum required contributions for current year2022-11-300
Unpaid minimum required contributions for all years2022-11-300
2021: LIGON & LIGON, INC. RETIREMENT INCOME PLAN 2021 401k membership
Market value of plan assets2021-11-307,539,555
Acturial value of plan assets2021-11-307,154,488
Funding target for retired participants and beneficiaries receiving payment2021-11-302,113,062
Number of terminated vested participants2021-11-3025
Fundng target for terminated vested participants2021-11-301,027,839
Active participant vested funding target2021-11-303,106,852
Number of active participants2021-11-3055
Total funding liabilities for active participants2021-11-303,122,459
Total participant count2021-11-30104
Total funding target for all participants2021-11-306,263,360
Prefunding balance at beginning of prior year after applicable adjustments2021-11-3029,271
Prefunding balanced used to offset prior years funding requirement2021-11-300
Amount remaining of carryover balance2021-11-300
Amount remaining of prefunding balance2021-11-3029,271
Present value of excess contributions2021-11-30593,424
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-11-30626,656
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-11-300
Reductions in caryover balances due to elections or deemed elections2021-11-300
Reductions in prefunding balances due to elections or deemed elections2021-11-300
Balance of carryovers at beginning of current year2021-11-300
Balance of prefunding at beginning of current year2021-11-3033,307
Total employer contributions2021-11-30655,000
Total employee contributions2021-11-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-11-30596,562
Unpaid minimum required contributions for all prior years2021-11-300
Remaining amount of unpaid minimum required contributions2021-11-300
Minimum required contributions for current year target normal cost2021-11-30337,245
Net shortfall amortization installment of oustanding balance2021-11-300
Waiver amortization installment2021-11-300
Total funding amount beforereflecting carryover/prefunding balances2021-11-300
Carryover balance elected to use to offset funding requirement2021-11-300
Prefunding balance elected to use to offset funding requirement2021-11-300
Additional cash requirement2021-11-300
Contributions allocatedtoward minimum required contributions for current year2021-11-30596,562
Unpaid minimum required contributions for current year2021-11-300
Unpaid minimum required contributions for all years2021-11-300
2020: LIGON & LIGON, INC. RETIREMENT INCOME PLAN 2020 401k membership
Market value of plan assets2020-11-306,398,978
Acturial value of plan assets2020-11-306,316,506
Funding target for retired participants and beneficiaries receiving payment2020-11-302,058,490
Number of terminated vested participants2020-11-3025
Fundng target for terminated vested participants2020-11-30729,605
Active participant vested funding target2020-11-303,065,767
Number of active participants2020-11-3059
Total funding liabilities for active participants2020-11-303,078,255
Total participant count2020-11-30106
Total funding target for all participants2020-11-305,866,350
Balance at beginning of prior year after applicable adjustments2020-11-300
Prefunding balance at beginning of prior year after applicable adjustments2020-11-3026,283
Carryover balanced portion elected for use to offset prior years funding requirement2020-11-300
Prefunding balanced used to offset prior years funding requirement2020-11-300
Amount remaining of carryover balance2020-11-300
Amount remaining of prefunding balance2020-11-3026,283
Present value of excess contributions2020-11-30549,756
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-11-30581,422
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-11-300
Reductions in caryover balances due to elections or deemed elections2020-11-300
Reductions in prefunding balances due to elections or deemed elections2020-11-300
Balance of carryovers at beginning of current year2020-11-300
Balance of prefunding at beginning of current year2020-11-3029,271
Total employer contributions2020-11-30650,000
Total employee contributions2020-11-300
Contributions allocated toward unpaid minimum require contributions from prior years2020-11-300
Contributions made to avoid restrictions adjusted to valuation date2020-11-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-11-30593,424
Unpaid minimum required contributions for all prior years2020-11-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-11-300
Remaining amount of unpaid minimum required contributions2020-11-300
Minimum required contributions for current year target normal cost2020-11-30409,578
Net shortfall amortization installment of oustanding balance2020-11-300
Waiver amortization installment2020-11-300
Total funding amount beforereflecting carryover/prefunding balances2020-11-300
Carryover balance elected to use to offset funding requirement2020-11-300
Prefunding balance elected to use to offset funding requirement2020-11-300
Additional cash requirement2020-11-300
Contributions allocatedtoward minimum required contributions for current year2020-11-30593,424
Unpaid minimum required contributions for current year2020-11-300
Unpaid minimum required contributions for all years2020-11-300
2019: LIGON & LIGON, INC. RETIREMENT INCOME PLAN 2019 401k membership
Market value of plan assets2019-11-305,534,254
Acturial value of plan assets2019-11-305,592,510
Funding target for retired participants and beneficiaries receiving payment2019-11-302,043,296
Number of terminated vested participants2019-11-3021
Fundng target for terminated vested participants2019-11-30649,139
Active participant vested funding target2019-11-302,478,484
Number of active participants2019-11-3055
Total funding liabilities for active participants2019-11-302,485,869
Total participant count2019-11-3099
Total funding target for all participants2019-11-305,178,304
Balance at beginning of prior year after applicable adjustments2019-11-300
Prefunding balance at beginning of prior year after applicable adjustments2019-11-30287,901
Carryover balanced portion elected for use to offset prior years funding requirement2019-11-300
Prefunding balanced used to offset prior years funding requirement2019-11-30261,930
Amount remaining of carryover balance2019-11-300
Amount remaining of prefunding balance2019-11-3025,971
Present value of excess contributions2019-11-30612,884
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-11-30636,909
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-11-300
Reductions in caryover balances due to elections or deemed elections2019-11-300
Reductions in prefunding balances due to elections or deemed elections2019-11-300
Balance of carryovers at beginning of current year2019-11-300
Balance of prefunding at beginning of current year2019-11-3026,283
Total employer contributions2019-11-30600,000
Contributions allocated toward unpaid minimum require contributions from prior years2019-11-300
Contributions made to avoid restrictions adjusted to valuation date2019-11-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-11-30549,756
Liquidity shortfalls end of Q12019-11-300
Liquidity shortfalls end of Q22019-11-300
Liquidity shortfalls end of Q32019-11-300
Liquidity shortfalls end of Q42019-11-300
Unpaid minimum required contributions for all prior years2019-11-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-11-300
Remaining amount of unpaid minimum required contributions2019-11-300
Minimum required contributions for current year target normal cost2019-11-30381,130
Net shortfall amortization installment of oustanding balance2019-11-300
Waiver amortization installment2019-11-300
Total funding amount beforereflecting carryover/prefunding balances2019-11-300
Carryover balance elected to use to offset funding requirement2019-11-300
Prefunding balance elected to use to offset funding requirement2019-11-300
Additional cash requirement2019-11-300
Contributions allocatedtoward minimum required contributions for current year2019-11-30549,756
Unpaid minimum required contributions for current year2019-11-300
Unpaid minimum required contributions for all years2019-11-300
2018: LIGON & LIGON, INC. RETIREMENT INCOME PLAN 2018 401k membership
Market value of plan assets2018-11-305,004,618
Acturial value of plan assets2018-11-304,809,310
Funding target for retired participants and beneficiaries receiving payment2018-11-301,979,642
Number of terminated vested participants2018-11-3019
Fundng target for terminated vested participants2018-11-30384,235
Active participant vested funding target2018-11-302,364,378
Number of active participants2018-11-3055
Total funding liabilities for active participants2018-11-302,375,336
Total participant count2018-11-3097
Total funding target for all participants2018-11-304,739,213
Balance at beginning of prior year after applicable adjustments2018-11-300
Prefunding balance at beginning of prior year after applicable adjustments2018-11-30418,608
Carryover balanced portion elected for use to offset prior years funding requirement2018-11-300
Prefunding balanced used to offset prior years funding requirement2018-11-30166,836
Amount remaining of carryover balance2018-11-300
Amount remaining of prefunding balance2018-11-30251,772
Present value of excess contributions2018-11-3030,369
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-11-3034,727
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-11-300
Reductions in caryover balances due to elections or deemed elections2018-11-300
Reductions in prefunding balances due to elections or deemed elections2018-11-300
Balance of carryovers at beginning of current year2018-11-300
Balance of prefunding at beginning of current year2018-11-30287,901
Total employer contributions2018-11-30800,000
Contributions allocated toward unpaid minimum require contributions from prior years2018-11-300
Contributions made to avoid restrictions adjusted to valuation date2018-11-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-11-30727,827
Unpaid minimum required contributions for all prior years2018-11-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-11-300
Remaining amount of unpaid minimum required contributions2018-11-300
Minimum required contributions for current year target normal cost2018-11-30360,691
Net shortfall amortization installment of oustanding balance2018-11-30217,804
Waiver amortization installment2018-11-300
Total funding amount beforereflecting carryover/prefunding balances2018-11-30376,873
Prefunding balance elected to use to offset funding requirement2018-11-30261,930
Additional cash requirement2018-11-30114,943
Contributions allocatedtoward minimum required contributions for current year2018-11-30727,827
Unpaid minimum required contributions for current year2018-11-300
Unpaid minimum required contributions for all years2018-11-300
2017: LIGON & LIGON, INC. RETIREMENT INCOME PLAN 2017 401k membership
Market value of plan assets2017-11-304,538,906
Acturial value of plan assets2017-11-304,696,511
Funding target for retired participants and beneficiaries receiving payment2017-11-301,731,749
Number of terminated vested participants2017-11-3019
Fundng target for terminated vested participants2017-11-30348,152
Active participant vested funding target2017-11-302,198,901
Number of active participants2017-11-3055
Total funding liabilities for active participants2017-11-302,211,906
Total participant count2017-11-3097
Total funding target for all participants2017-11-304,291,807
Balance at beginning of prior year after applicable adjustments2017-11-300
Prefunding balance at beginning of prior year after applicable adjustments2017-11-30536,805
Carryover balanced portion elected for use to offset prior years funding requirement2017-11-300
Prefunding balanced used to offset prior years funding requirement2017-11-30138,813
Amount remaining of carryover balance2017-11-300
Amount remaining of prefunding balance2017-11-30397,992
Present value of excess contributions2017-11-30146,829
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-11-30154,495
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-11-300
Reductions in caryover balances due to elections or deemed elections2017-11-300
Reductions in prefunding balances due to elections or deemed elections2017-11-300
Balance of carryovers at beginning of current year2017-11-300
Balance of prefunding at beginning of current year2017-11-30418,608
Total employer contributions2017-11-30150,000
Total employee contributions2017-11-300
Contributions allocated toward unpaid minimum require contributions from prior years2017-11-300
Contributions made to avoid restrictions adjusted to valuation date2017-11-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-11-30135,649
Unpaid minimum required contributions for all prior years2017-11-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-11-300
Remaining amount of unpaid minimum required contributions2017-11-300
Minimum required contributions for current year target normal cost2017-11-30245,154
Net shortfall amortization installment of oustanding balance2017-11-3013,904
Waiver amortization installment2017-11-300
Total funding amount beforereflecting carryover/prefunding balances2017-11-30272,116
Carryover balance elected to use to offset funding requirement2017-11-300
Prefunding balance elected to use to offset funding requirement2017-11-30166,836
Additional cash requirement2017-11-30105,280
Contributions allocatedtoward minimum required contributions for current year2017-11-30135,649
Unpaid minimum required contributions for current year2017-11-300
Unpaid minimum required contributions for all years2017-11-300
2009: LIGON & LIGON, INC. RETIREMENT INCOME PLAN 2009 401k membership
Total participants, beginning-of-year2009-12-0182
Total number of active participants reported on line 7a of the Form 55002009-12-0142
Number of retired or separated participants receiving benefits2009-12-0130
Number of other retired or separated participants entitled to future benefits2009-12-0113
Total of all active and inactive participants2009-12-0185
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-12-010
Total participants2009-12-0185
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-12-012

Financial Data on LIGON & LIGON, INC. RETIREMENT INCOME PLAN

Measure Date Value
2011 : LIGON & LIGON, INC. RETIREMENT INCOME PLAN 2011 401k financial data
Total income from all sources2011-11-30$743,943
Expenses. Total of all expenses incurred2011-11-30$257,495
Benefits paid (including direct rollovers)2011-11-30$219,737
Total plan assets at end of year2011-11-30$2,696,863
Total plan assets at beginning of year2011-11-30$2,210,415
Value of fidelity bond covering the plan2011-11-30$500,000
Expenses. Other expenses not covered elsewhere2011-11-30$37,758
Other income received2011-11-30$397,943
Net income (gross income less expenses)2011-11-30$486,448
Net plan assets at end of year (total assets less liabilities)2011-11-30$2,696,863
Net plan assets at beginning of year (total assets less liabilities)2011-11-30$2,210,415
Total contributions received or receivable from employer(s)2011-11-30$346,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-11-30$0
2010 : LIGON & LIGON, INC. RETIREMENT INCOME PLAN 2010 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-11-30$0

Form 5500 Responses for LIGON & LIGON, INC. RETIREMENT INCOME PLAN

2009: LIGON & LIGON, INC. RETIREMENT INCOME PLAN 2009 form 5500 responses
2009-12-01Type of plan entitySingle employer plan
2009-12-01Submission has been amendedYes
2009-12-01This submission is the final filingNo
2009-12-01This return/report is a short plan year return/report (less than 12 months)No
2009-12-01Plan is a collectively bargained planNo
2009-12-01Plan funding arrangement – General assets of the sponsorYes
2009-12-01Plan benefit arrangement – InsuranceYes

Insurance Providers Used on plan

PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 93629 )
Policy contract numberIN-15283
Policy instance 1
Insurance contract or identification numberIN-15283
Number of Individuals Covered82
Insurance policy start date2010-12-01
Insurance policy end date2011-11-30
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Contracts With Unallocated Funds Deposit Administration1
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No

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