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MEDICAL ARTS RADIOLOGICAL GROUP, P.C. CASH BALANCE PLAN 401k Plan overview

Plan NameMEDICAL ARTS RADIOLOGICAL GROUP, P.C. CASH BALANCE PLAN
Plan identification number 003

MEDICAL ARTS RADIOLOGICAL GROUP, P.C. CASH BALANCE 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).
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

MEDICAL ARTS RADIOLOGICAL GROUP, P.C. has sponsored the creation of one or more 401k plans.

Company Name:MEDICAL ARTS RADIOLOGICAL GROUP, P.C.
Employer identification number (EIN):112223066
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Additional information about MEDICAL ARTS RADIOLOGICAL GROUP, P.C.

Jurisdiction of Incorporation: New York Department of State
Incorporation Date: 1970-11-25
Company Identification Number: 298869
Legal Registered Office Address: C/O PURE MAMMOGRAPHY
570 SMITH HAVEN MALL
LAKE GROVE
United States of America (USA)
11755

More information about MEDICAL ARTS RADIOLOGICAL GROUP, P.C.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MEDICAL ARTS RADIOLOGICAL GROUP, P.C. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032021-01-01PRADEEP ALBERT2022-01-26
0032020-01-01PRADEEP ALBERT2021-10-12
0032019-01-01PRADEEP ALBERT2020-08-31
0032018-01-01PRADEEP ALBERT2019-10-03
0032017-01-01PRADEEP ALBERT
0032016-01-01PRADEEP ALBERT

Plan Statistics for MEDICAL ARTS RADIOLOGICAL GROUP, P.C. CASH BALANCE PLAN

401k plan membership statisitcs for MEDICAL ARTS RADIOLOGICAL GROUP, P.C. CASH BALANCE PLAN

Measure Date Value
2020: MEDICAL ARTS RADIOLOGICAL GROUP, P.C. CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-09-251,121,979
Acturial value of plan assets2020-09-251,121,979
Funding target for retired participants and beneficiaries receiving payment2020-09-250
Number of terminated vested participants2020-09-2541
Fundng target for terminated vested participants2020-09-25149,611
Active participant vested funding target2020-09-25560,707
Number of active participants2020-09-2522
Total funding liabilities for active participants2020-09-25565,435
Total participant count2020-09-2563
Total funding target for all participants2020-09-25715,046
Balance at beginning of prior year after applicable adjustments2020-09-250
Prefunding balance at beginning of prior year after applicable adjustments2020-09-250
Carryover balanced portion elected for use to offset prior years funding requirement2020-09-250
Prefunding balanced used to offset prior years funding requirement2020-09-250
Amount remaining of carryover balance2020-09-250
Amount remaining of prefunding balance2020-09-250
Present value of excess contributions2020-09-250
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-09-250
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-09-250
Reductions in caryover balances due to elections or deemed elections2020-09-250
Reductions in prefunding balances due to elections or deemed elections2020-09-250
Balance of carryovers at beginning of current year2020-09-250
Balance of prefunding at beginning of current year2020-09-250
Total employer contributions2020-09-250
Total employee contributions2020-09-250
Contributions allocated toward unpaid minimum require contributions from prior years2020-09-250
Contributions made to avoid restrictions adjusted to valuation date2020-09-250
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-09-250
Unpaid minimum required contributions for all prior years2020-09-250
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-09-250
Remaining amount of unpaid minimum required contributions2020-09-250
Minimum required contributions for current year target normal cost2020-09-25251,824
Net shortfall amortization installment of oustanding balance2020-09-250
Waiver amortization installment2020-09-250
Total funding amount beforereflecting carryover/prefunding balances2020-09-250
Carryover balance elected to use to offset funding requirement2020-09-250
Prefunding balance elected to use to offset funding requirement2020-09-250
Additional cash requirement2020-09-250
Contributions allocatedtoward minimum required contributions for current year2020-09-250
Unpaid minimum required contributions for current year2020-09-250
Unpaid minimum required contributions for all years2020-09-250
2019: MEDICAL ARTS RADIOLOGICAL GROUP, P.C. CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-311,121,979
Acturial value of plan assets2019-12-311,121,979
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-3153
Fundng target for terminated vested participants2019-12-31153,918
Active participant vested funding target2019-12-31548,707
Number of active participants2019-12-3119
Total funding liabilities for active participants2019-12-31552,522
Total participant count2019-12-3172
Total funding target for all participants2019-12-31706,440
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-310
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 balance2019-12-310
Present value of excess contributions2019-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-310
Reductions in caryover balances due to elections or deemed elections2019-12-310
Reductions in prefunding balances due to elections or deemed elections2019-12-310
Balance of carryovers at beginning of current year2019-12-310
Balance of prefunding at beginning of current year2019-12-310
Total employer contributions2019-12-310
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 date2019-12-310
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 cost2019-12-310
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-310
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-310
Contributions allocatedtoward minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: MEDICAL ARTS RADIOLOGICAL GROUP, P.C. CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-311,109,376
Acturial value of plan assets2018-12-311,109,376
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-3192
Fundng target for terminated vested participants2018-12-31158,674
Active participant vested funding target2018-12-31503,460
Number of active participants2018-12-3110
Total funding liabilities for active participants2018-12-31503,460
Total participant count2018-12-31102
Total funding target for all participants2018-12-31662,134
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 contributions2018-12-31483,551
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-31483,551
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 contributions2018-12-310
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 date2018-12-310
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 cost2018-12-3167,619
Net shortfall amortization installment of oustanding balance2018-12-310
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-310
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-310
Contributions allocatedtoward minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: MEDICAL ARTS RADIOLOGICAL GROUP, P.C. CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-12-31622,015
Acturial value of plan assets2017-12-31622,015
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-3114
Fundng target for terminated vested participants2017-12-3124,241
Active participant vested funding target2017-12-31517,357
Number of active participants2017-12-3169
Total funding liabilities for active participants2017-12-31520,401
Total participant count2017-12-3183
Total funding target for all participants2017-12-31544,642
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 contributions2017-12-31120,713
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-31120,713
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 contributions2017-12-31502,432
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 date2017-12-31483,551
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 cost2017-12-3171,103
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-310
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-310
Contributions allocatedtoward minimum required contributions for current year2017-12-31483,551
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
Total participants, beginning-of-year2017-01-0169
Total number of active participants reported on line 7a of the Form 55002017-01-0169
Number of retired or separated participants receiving benefits2017-01-010
Number of other retired or separated participants entitled to future benefits2017-01-0114
Total of all active and inactive participants2017-01-0183
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-0183
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-013
2016: MEDICAL ARTS RADIOLOGICAL GROUP, P.C. CASH BALANCE PLAN 2016 401k membership
Market value of plan assets2016-12-310
Acturial value of plan assets2016-12-310
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-3110
Fundng target for terminated vested participants2016-12-310
Active participant vested funding target2016-12-310
Number of active participants2016-12-3159
Total funding liabilities for active participants2016-12-310
Total participant count2016-12-3169
Total funding target for all participants2016-12-310
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 contributions2016-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-310
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 contributions2016-12-31630,000
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 date2016-12-31604,941
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 cost2016-12-31484,228
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-31484,228
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-31484,228
Contributions allocatedtoward minimum required contributions for current year2016-12-31604,941
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310
Total participants, beginning-of-year2016-01-0168
Total number of active participants reported on line 7a of the Form 55002016-01-0159
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-0110
Total of all active and inactive participants2016-01-0169
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-0169
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-018

Financial Data on MEDICAL ARTS RADIOLOGICAL GROUP, P.C. CASH BALANCE PLAN

Measure Date Value
2017 : MEDICAL ARTS RADIOLOGICAL GROUP, P.C. CASH BALANCE PLAN 2017 401k financial data
Transfers to/from the plan2017-12-31$0
Total plan liabilities at end of year2017-12-31$0
Total plan liabilities at beginning of year2017-12-31$0
Total income from all sources2017-12-31$494,447
Expenses. Total of all expenses incurred2017-12-31$0
Benefits paid (including direct rollovers)2017-12-31$0
Total plan assets at end of year2017-12-31$1,124,447
Total plan assets at beginning of year2017-12-31$630,000
Total contributions received or receivable from participants2017-12-31$0
Expenses. Other expenses not covered elsewhere2017-12-31$0
Contributions received from other sources (not participants or employers)2017-12-31$0
Other income received2017-12-31$-7,985
Noncash contributions received2017-12-31$0
Net income (gross income less expenses)2017-12-31$494,447
Net plan assets at end of year (total assets less liabilities)2017-12-31$1,124,447
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$630,000
Total contributions received or receivable from employer(s)2017-12-31$502,432
Value of certain deemed distributions of participant loans2017-12-31$0
Value of corrective distributions2017-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2017-12-31$0
2016 : MEDICAL ARTS RADIOLOGICAL GROUP, P.C. CASH BALANCE PLAN 2016 401k financial data
Transfers to/from the plan2016-12-31$0
Total plan liabilities at end of year2016-12-31$0
Total plan liabilities at beginning of year2016-12-31$0
Total income from all sources2016-12-31$630,000
Expenses. Total of all expenses incurred2016-12-31$0
Benefits paid (including direct rollovers)2016-12-31$0
Total plan assets at end of year2016-12-31$630,000
Total plan assets at beginning of year2016-12-31$0
Total contributions received or receivable from participants2016-12-31$0
Expenses. Other expenses not covered elsewhere2016-12-31$0
Contributions received from other sources (not participants or employers)2016-12-31$0
Other income received2016-12-31$0
Noncash contributions received2016-12-31$0
Net income (gross income less expenses)2016-12-31$630,000
Net plan assets at end of year (total assets less liabilities)2016-12-31$630,000
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$0
Total contributions received or receivable from employer(s)2016-12-31$630,000
Value of certain deemed distributions of participant loans2016-12-31$0
Value of corrective distributions2016-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2016-12-31$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2016-12-31$0

Form 5500 Responses for MEDICAL ARTS RADIOLOGICAL GROUP, P.C. CASH BALANCE PLAN

2017: MEDICAL ARTS RADIOLOGICAL GROUP, P.C. CASH BALANCE PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedNo
2017-01-01This submission is the final filingNo
2017-01-01This return/report is a short plan year return/report (less than 12 months)No
2017-01-01Plan is a collectively bargained planNo
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: MEDICAL ARTS RADIOLOGICAL GROUP, P.C. CASH BALANCE PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01First time form 5500 has been submittedYes
2016-01-01Submission has been amendedNo
2016-01-01This submission is the final filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes

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