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KENNEDY ACCESS GROUP, INC. PENSION PLAN 401k Plan overview

Plan NameKENNEDY ACCESS GROUP, INC. PENSION PLAN
Plan identification number 001

KENNEDY ACCESS GROUP, INC. PENSION PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Floor-offset plan - Plan benefits are subject to offset for retirement benefits provided by an employer-sponsored defined contribution plan.
  • 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.
  • Life insurance

401k Sponsoring company profile

KENNEDY ACCESS GROUP INC has sponsored the creation of one or more 401k plans.

Company Name:KENNEDY ACCESS GROUP INC
Employer identification number (EIN):812826459
NAIC Classification:541600

Form 5500 Filing Information

Submission information for form 5500 for 401k plan KENNEDY ACCESS GROUP, INC. PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01BUMSUNG CHUNG2023-10-09 BUMSUNG CHUNG2023-10-09
0012021-01-01BUMSUNG CHUNG2022-10-13 BUMSUNG CHUNG2022-10-13
0012020-01-01BUMSUNG CHUNG2021-07-22 BUMSUNG CHUNG2021-07-22
0012019-01-01BUMSUNG CHUNG2020-07-28 BUMSUNG CHUNG2020-07-28

Plan Statistics for KENNEDY ACCESS GROUP, INC. PENSION PLAN

401k plan membership statisitcs for KENNEDY ACCESS GROUP, INC. PENSION PLAN

Measure Date Value
2022: KENNEDY ACCESS GROUP, INC. PENSION PLAN 2022 401k membership
Market value of plan assets2022-12-31635,208
Acturial value of plan assets2022-12-31635,208
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-310
Fundng target for terminated vested participants2022-12-310
Active participant vested funding target2022-12-31270,093
Number of active participants2022-12-316
Total funding liabilities for active participants2022-12-31274,597
Total participant count2022-12-316
Total funding target for all participants2022-12-31274,597
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-31274,314
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 balance2022-12-31274,314
Present value of excess contributions2022-12-31186,974
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31186,974
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-31186,974
Reductions in caryover balances due to elections or deemed elections2022-12-310
Reductions in prefunding balances due to elections or deemed elections2022-12-31125,000
Balance of carryovers at beginning of current year2022-12-310
Balance of prefunding at beginning of current year2022-12-31384,842
Total employer contributions2022-12-31212,843
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 date2022-12-31210,497
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 cost2022-12-31124,602
Net shortfall amortization installment of oustanding balance2022-12-3146,783
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-31128,925
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-31128,925
Contributions allocatedtoward minimum required contributions for current year2022-12-31210,497
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: KENNEDY ACCESS GROUP, INC. PENSION PLAN 2021 401k membership
Market value of plan assets2021-12-31528,378
Acturial value of plan assets2021-12-31528,378
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 target2021-12-31178,698
Number of active participants2021-12-318
Total funding liabilities for active participants2021-12-31178,698
Total participant count2021-12-318
Total funding target for all participants2021-12-31178,698
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-31190,506
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 balance2021-12-31190,506
Present value of excess contributions2021-12-3173,216
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-3173,216
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-3173,216
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 year2021-12-31274,314
Total employer contributions2021-12-31190,001
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 date2021-12-31188,140
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 cost2021-12-3159,799
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-311,166
Additional cash requirement2021-12-311,166
Contributions allocatedtoward minimum required contributions for current year2021-12-31188,140
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: KENNEDY ACCESS GROUP, INC. PENSION PLAN 2020 401k membership
Market value of plan assets2020-12-31333,977
Acturial value of plan assets2020-12-31333,977
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 target2020-12-31100,113
Number of active participants2020-12-316
Total funding liabilities for active participants2020-12-31125,141
Total participant count2020-12-316
Total funding target for all participants2020-12-31125,141
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-3125,753
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 balance2020-12-3125,753
Present value of excess contributions2020-12-31160,720
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-31160,720
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-31160,720
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 year2020-12-31190,506
Total employer contributions2020-12-31107,285
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 date2020-12-31106,363
Liquidity shortfalls end of Q12020-12-310
Liquidity shortfalls end of Q22020-12-310
Liquidity shortfalls end of Q32020-12-310
Liquidity shortfalls end of Q42020-12-310
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 cost2020-12-3139,532
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-3133,147
Additional cash requirement2020-12-3133,147
Contributions allocatedtoward minimum required contributions for current year2020-12-31106,363
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: KENNEDY ACCESS GROUP, INC. PENSION PLAN 2019 401k membership
Market value of plan assets2019-12-31121,394
Acturial value of plan assets2019-12-31121,394
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-311
Fundng target for terminated vested participants2019-12-311,931
Active participant vested funding target2019-12-3163,595
Number of active participants2019-12-316
Total funding liabilities for active participants2019-12-31111,088
Total participant count2019-12-317
Total funding target for all participants2019-12-31113,019
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-3147,986
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 balance2019-12-3147,986
Present value of excess contributions2019-12-315,411
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-315,411
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-315,411
Reductions in caryover balances due to elections or deemed elections2019-12-310
Reductions in prefunding balances due to elections or deemed elections2019-12-3130,000
Balance of carryovers at beginning of current year2019-12-310
Balance of prefunding at beginning of current year2019-12-3125,753
Total employer contributions2019-12-31195,000
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 date2019-12-31193,060
Liquidity shortfalls end of Q12019-12-310
Liquidity shortfalls end of Q22019-12-310
Liquidity shortfalls end of Q32019-12-310
Liquidity shortfalls end of Q42019-12-310
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 cost2019-12-3127,935
Net shortfall amortization installment of oustanding balance2019-12-3119,004
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-3132,340
Additional cash requirement2019-12-3132,340
Contributions allocatedtoward minimum required contributions for current year2019-12-31193,060
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310

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