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IRONWOOD ELECTRIC, INC. DEFINED BENEFIT PENSION PLAN 401k Plan overview

Plan NameIRONWOOD ELECTRIC, INC. DEFINED BENEFIT PENSION PLAN
Plan identification number 002

IRONWOOD ELECTRIC, INC. DEFINED BENEFIT PENSION PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily flat dollar (includes dollars per year of service)
  • 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).

401k Sponsoring company profile

IRONWOOD ELECTRIC LLC has sponsored the creation of one or more 401k plans.

Company Name:IRONWOOD ELECTRIC LLC
Employer identification number (EIN):593814401
NAIC Classification:541990
NAIC Description:All Other Professional, Scientific, and Technical Services

Form 5500 Filing Information

Submission information for form 5500 for 401k plan IRONWOOD ELECTRIC, INC. DEFINED BENEFIT PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022019-01-01
0022018-01-01
0022017-01-01MARK D. HOWMANN2018-06-18
0022016-01-01MARK D. HOWMANN2017-03-23
0022015-01-01MARK D. HOWMANN2016-08-29

Plan Statistics for IRONWOOD ELECTRIC, INC. DEFINED BENEFIT PENSION PLAN

401k plan membership statisitcs for IRONWOOD ELECTRIC, INC. DEFINED BENEFIT PENSION PLAN

Measure Date Value
2019: IRONWOOD ELECTRIC, INC. DEFINED BENEFIT PENSION PLAN 2019 401k membership
Market value of plan assets2019-11-301,955,028
Acturial value of plan assets2019-11-301,955,028
Funding target for retired participants and beneficiaries receiving payment2019-11-300
Number of terminated vested participants2019-11-3012
Fundng target for terminated vested participants2019-11-3016,970
Active participant vested funding target2019-11-301,847,807
Number of active participants2019-11-3039
Total funding liabilities for active participants2019-11-301,847,807
Total participant count2019-11-3051
Total funding target for all participants2019-11-301,864,777
Balance at beginning of prior year after applicable adjustments2019-11-300
Prefunding balance at beginning of prior year after applicable adjustments2019-11-300
Carryover balanced portion elected for use to offset prior years funding requirement2019-11-300
Prefunding balanced used to offset prior years funding requirement2019-11-300
Amount remaining of carryover balance2019-11-300
Amount remaining of prefunding balance2019-11-300
Present value of excess contributions2019-11-3012,055
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-11-3012,055
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 year2019-11-300
Total employer contributions2019-11-3023,737
Total employee contributions2019-11-300
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 date2019-11-3023,240
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 cost2019-11-300
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 year2019-11-3023,240
Unpaid minimum required contributions for current year2019-11-300
Unpaid minimum required contributions for all years2019-11-300
2018: IRONWOOD ELECTRIC, INC. DEFINED BENEFIT PENSION PLAN 2018 401k membership
Market value of plan assets2018-12-311,301,199
Acturial value of plan assets2018-12-311,301,199
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-3114
Fundng target for terminated vested participants2018-12-3114,970
Active participant vested funding target2018-12-311,330,646
Number of active participants2018-12-3139
Total funding liabilities for active participants2018-12-311,330,646
Total participant count2018-12-3153
Total funding target for all participants2018-12-311,345,616
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 contributions2018-12-31165,636
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-31165,636
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 contributions2018-12-31474,700
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 date2018-12-31468,478
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 cost2018-12-31450,715
Net shortfall amortization installment of oustanding balance2018-12-3144,417
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31457,966
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-31457,966
Contributions allocatedtoward minimum required contributions for current year2018-12-31468,478
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: IRONWOOD ELECTRIC, INC. DEFINED BENEFIT PENSION PLAN 2017 401k membership
Market value of plan assets2017-12-311,079,291
Acturial value of plan assets2017-12-311,079,291
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-318
Fundng target for terminated vested participants2017-12-314,266
Active participant vested funding target2017-12-31816,767
Number of active participants2017-12-3147
Total funding liabilities for active participants2017-12-31816,767
Total participant count2017-12-3155
Total funding target for all participants2017-12-31821,033
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 contributions2017-12-31185,059
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-31185,059
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 contributions2017-12-31324,934
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 date2017-12-31322,305
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 cost2017-12-31414,927
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31156,669
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-31156,669
Contributions allocatedtoward minimum required contributions for current year2017-12-31322,305
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: IRONWOOD ELECTRIC, INC. DEFINED BENEFIT PENSION PLAN 2016 401k membership
Market value of plan assets2016-12-31454,188
Acturial value of plan assets2016-12-31454,188
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-310
Fundng target for terminated vested participants2016-12-310
Active participant vested funding target2016-12-310
Number of active participants2016-12-3170
Total funding liabilities for active participants2016-12-31362,729
Total participant count2016-12-3170
Total funding target for all participants2016-12-31362,729
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 contributions2016-12-3193,592
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-3193,592
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 contributions2016-12-31470,000
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 date2016-12-31465,865
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 cost2016-12-31372,265
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-31280,806
Additional cash requirement2016-12-31280,806
Contributions allocatedtoward minimum required contributions for current year2016-12-31465,865
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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