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SUFFOLK COUNTY MEDICAL SOCIETY, INC & SUFFOLK ACADEMY OF MEDICINE, INC. RETIREMENT PLAN 401k Plan overview

Plan NameSUFFOLK COUNTY MEDICAL SOCIETY, INC & SUFFOLK ACADEMY OF MEDICINE, INC. RETIREMENT PLAN
Plan identification number 001

SUFFOLK COUNTY MEDICAL SOCIETY, INC & SUFFOLK ACADEMY OF MEDICINE, INC. RETIREMENT 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).
  • Plan covered by PBGC that was terminated and closed out for PBGC purposes - Before the end of the plan year (or a prior plan year), (1) the plan terminated in a standard (or distress) termination and completed the distribution of plan assets in satisfaction of all benefit liabilities (or all ERISA Title IV benefits for distress termination); or (2) a trustee was appointed for a terminated plan pursuant to ERISA section 4042.
  • Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).
  • 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

SUFFOLK COUNTY MEDICAL SOCIETY, INC & SUFFOLK ACADEMY OF MEDICINE, INC has sponsored the creation of one or more 401k plans.

Company Name:SUFFOLK COUNTY MEDICAL SOCIETY, INC & SUFFOLK ACADEMY OF MEDICINE, INC
Employer identification number (EIN):111627264
NAIC Classification:813000
NAIC Description: Religious, Grantmaking, Civic, Professional, and Similar Organizations

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SUFFOLK COUNTY MEDICAL SOCIETY, INC & SUFFOLK ACADEMY OF MEDICINE, INC. RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012016-01-01AARON KUMAR2017-05-11
0012015-01-01STUART FRIEDMAN2016-09-13
0012014-01-01STUART FRIEDMAN2015-09-25
0012013-01-01STUART FRIEDMAN2014-09-22
0012012-01-01STUART FRIEDMAN2013-09-27 STUART FRIEDMAN2013-09-27
0012011-01-01STUART FRIEDMAN2012-09-24
0012010-01-01STUART FRIEDMAN2011-10-13

Plan Statistics for SUFFOLK COUNTY MEDICAL SOCIETY, INC & SUFFOLK ACADEMY OF MEDICINE, INC. RETIREMENT PLAN

401k plan membership statisitcs for SUFFOLK COUNTY MEDICAL SOCIETY, INC & SUFFOLK ACADEMY OF MEDICINE, INC. RETIREMENT PLAN

Measure Date Value
2016: SUFFOLK COUNTY MEDICAL SOCIETY, INC & SUFFOLK ACADEMY OF MEDICINE, INC. RETIREMENT PLAN 2016 401k membership
Market value of plan assets2016-12-31162,503
Acturial value of plan assets2016-12-31162,503
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 target2016-12-31196,341
Number of active participants2016-12-314
Total funding liabilities for active participants2016-12-31196,341
Total participant count2016-12-314
Total funding target for all participants2016-12-31196,341
Balance at beginning of prior year after applicable adjustments2016-12-319
Prefunding balance at beginning of prior year after applicable adjustments2016-12-311,169
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 balance2016-12-319
Amount remaining of prefunding balance2016-12-311,169
Present value of excess contributions2016-12-315
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-315
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2016-12-315
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 year2016-12-319
Balance of prefunding at beginning of current year2016-12-311,136
Total employer contributions2016-12-3165,600
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 date2016-12-3162,747
Liquidity shortfalls end of Q12016-12-310
Liquidity shortfalls end of Q22016-12-310
Liquidity shortfalls end of Q32016-12-310
Liquidity shortfalls end of Q42016-12-310
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 cost2016-12-310
Net shortfall amortization installment of oustanding balance2016-12-3135,033
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-319,182
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-319,182
Contributions allocatedtoward minimum required contributions for current year2016-12-3162,747
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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