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BARFIELD FENCE & FABRICATION CASH BALANCE PLAN 401k Plan overview

Plan NameBARFIELD FENCE & FABRICATION CASH BALANCE PLAN
Plan identification number 002

BARFIELD FENCE & FABRICATION CASH BALANCE PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • 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).
  • 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

BARFIELD FENCE & FABRICATION INC has sponsored the creation of one or more 401k plans.

Company Name:BARFIELD FENCE & FABRICATION INC
Employer identification number (EIN):593532819
NAIC Classification:423300

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BARFIELD FENCE & FABRICATION CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01
0022023-01-01
0022022-01-01
0022022-01-01
0022021-01-01
0022020-01-01
0022020-01-01

Plan Statistics for BARFIELD FENCE & FABRICATION CASH BALANCE PLAN

401k plan membership statisitcs for BARFIELD FENCE & FABRICATION CASH BALANCE PLAN

Measure Date Value
2023: BARFIELD FENCE & FABRICATION CASH BALANCE PLAN 2023 401k membership
Market value of plan assets2023-07-11596,851
Acturial value of plan assets2023-07-11596,851
Funding target for retired participants and beneficiaries receiving payment2023-07-110
Number of terminated vested participants2023-07-113
Fundng target for terminated vested participants2023-07-114,847
Active participant vested funding target2023-07-11571,840
Number of active participants2023-07-1128
Total funding liabilities for active participants2023-07-11575,150
Total participant count2023-07-1131
Total funding target for all participants2023-07-11579,997
Balance at beginning of prior year after applicable adjustments2023-07-110
Prefunding balance at beginning of prior year after applicable adjustments2023-07-110
Carryover balanced portion elected for use to offset prior years funding requirement2023-07-110
Prefunding balanced used to offset prior years funding requirement2023-07-110
Amount remaining of carryover balance2023-07-110
Amount remaining of prefunding balance2023-07-110
Present value of excess contributions2023-07-113,407
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2023-07-113,407
Reductions in caryover balances due to elections or deemed elections2023-07-110
Reductions in prefunding balances due to elections or deemed elections2023-07-110
Balance of carryovers at beginning of current year2023-07-110
Balance of prefunding at beginning of current year2023-07-110
Contributions allocated toward unpaid minimum require contributions from prior years2023-07-110
Contributions made to avoid restrictions adjusted to valuation date2023-07-110
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2023-07-110
Unpaid minimum required contributions for all prior years2023-07-110
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2023-07-110
Remaining amount of unpaid minimum required contributions2023-07-110
Minimum required contributions for current year target normal cost2023-07-110
Net shortfall amortization installment of oustanding balance2023-07-110
Waiver amortization installment2023-07-110
Total funding amount beforereflecting carryover/prefunding balances2023-07-110
Carryover balance elected to use to offset funding requirement2023-07-110
Prefunding balance elected to use to offset funding requirement2023-07-110
Additional cash requirement2023-07-110
Contributions allocatedtoward minimum required contributions for current year2023-07-110
Unpaid minimum required contributions for current year2023-07-110
Unpaid minimum required contributions for all years2023-07-110
Market value of plan assets2023-01-31596,851
Acturial value of plan assets2023-01-31596,851
Funding target for retired participants and beneficiaries receiving payment2023-01-310
Number of terminated vested participants2023-01-313
Fundng target for terminated vested participants2023-01-314,847
Active participant vested funding target2023-01-31571,840
Number of active participants2023-01-3128
Total funding liabilities for active participants2023-01-31575,150
Total participant count2023-01-3131
Total funding target for all participants2023-01-31579,997
Balance at beginning of prior year after applicable adjustments2023-01-310
Prefunding balance at beginning of prior year after applicable adjustments2023-01-310
Carryover balanced portion elected for use to offset prior years funding requirement2023-01-310
Prefunding balanced used to offset prior years funding requirement2023-01-310
Amount remaining of carryover balance2023-01-310
Amount remaining of prefunding balance2023-01-310
Present value of excess contributions2023-01-313,407
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2023-01-313,407
Reductions in caryover balances due to elections or deemed elections2023-01-310
Reductions in prefunding balances due to elections or deemed elections2023-01-310
Balance of carryovers at beginning of current year2023-01-310
Balance of prefunding at beginning of current year2023-01-310
Contributions allocated toward unpaid minimum require contributions from prior years2023-01-310
Contributions made to avoid restrictions adjusted to valuation date2023-01-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2023-01-310
Unpaid minimum required contributions for all prior years2023-01-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2023-01-310
Remaining amount of unpaid minimum required contributions2023-01-310
Minimum required contributions for current year target normal cost2023-01-310
Net shortfall amortization installment of oustanding balance2023-01-310
Waiver amortization installment2023-01-310
Total funding amount beforereflecting carryover/prefunding balances2023-01-310
Carryover balance elected to use to offset funding requirement2023-01-310
Prefunding balance elected to use to offset funding requirement2023-01-310
Additional cash requirement2023-01-310
Contributions allocatedtoward minimum required contributions for current year2023-01-310
Unpaid minimum required contributions for current year2023-01-310
Unpaid minimum required contributions for all years2023-01-310
2022: BARFIELD FENCE & FABRICATION CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-31434,372
Acturial value of plan assets2022-12-31434,372
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-313
Fundng target for terminated vested participants2022-12-313,175
Active participant vested funding target2022-12-31377,737
Number of active participants2022-12-3124
Total funding liabilities for active participants2022-12-31378,682
Total participant count2022-12-3127
Total funding target for all participants2022-12-31381,857
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 contributions2022-12-31114,958
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31114,958
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 contributions2022-12-31138,680
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 date2022-12-31137,119
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 cost2022-12-31186,227
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-31133,712
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-31133,712
Contributions allocatedtoward minimum required contributions for current year2022-12-31137,119
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: BARFIELD FENCE & FABRICATION CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-31239,375
Acturial value of plan assets2021-12-31239,375
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-310
Fundng target for terminated vested participants2021-12-310
Active participant vested funding target2021-12-310
Number of active participants2021-12-3127
Total funding liabilities for active participants2021-12-31178,686
Total participant count2021-12-3127
Total funding target for all participants2021-12-31178,686
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 contributions2021-12-3155,713
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-3155,713
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 contributions2021-12-31240,000
Total employee contributions2021-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2021-12-310
Contributions made to avoid restrictions adjusted to valuation date2021-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-12-31232,851
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 cost2021-12-31178,582
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-31117,893
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-31117,893
Contributions allocatedtoward minimum required contributions for current year2021-12-31232,851
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: BARFIELD FENCE & FABRICATION CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-310
Acturial value of plan assets2020-12-310
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-310
Fundng target for terminated vested participants2020-12-310
Active participant vested funding target2020-12-310
Number of active participants2020-12-3127
Total funding liabilities for active participants2020-12-310
Total participant count2020-12-3127
Total funding target for all participants2020-12-310
Amount remaining of carryover balance2020-12-310
Amount remaining of prefunding balance2020-12-310
Total available prior years excess cotributions available 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 contributions2020-12-31232,870
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 date2020-12-31224,929
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 cost2020-12-31169,216
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-31169,216
Additional cash requirement2020-12-31169,216
Contributions allocatedtoward minimum required contributions for current year2020-12-31224,929
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310

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