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GARDEN CITY DERMATOLOGY PC DEFINED BENEFIT PLAN 401k Plan overview

Plan NameGARDEN CITY DERMATOLOGY PC DEFINED BENEFIT PLAN
Plan identification number 001

GARDEN CITY DERMATOLOGY PC DEFINED BENEFIT PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • 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

GARDEN CITY DERMATOLOGY PC has sponsored the creation of one or more 401k plans.

Company Name:GARDEN CITY DERMATOLOGY PC
Employer identification number (EIN):113149701
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan GARDEN CITY DERMATOLOGY PC DEFINED BENEFIT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01
0012022-01-01
0012021-01-01
0012020-01-01
0012019-01-01
0012018-01-01
0012017-01-01
0012016-01-01
0012015-01-01
0012014-01-01

Plan Statistics for GARDEN CITY DERMATOLOGY PC DEFINED BENEFIT PLAN

401k plan membership statisitcs for GARDEN CITY DERMATOLOGY PC DEFINED BENEFIT PLAN

Measure Date Value
2022: GARDEN CITY DERMATOLOGY PC DEFINED BENEFIT PLAN 2022 401k membership
Market value of plan assets2022-12-312,701,973
Acturial value of plan assets2022-12-312,701,973
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-3118
Fundng target for terminated vested participants2022-12-3142,020
Active participant vested funding target2022-12-312,043,879
Number of active participants2022-12-3112
Total funding liabilities for active participants2022-12-312,068,006
Total participant count2022-12-3130
Total funding target for all participants2022-12-312,110,026
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 contributions2022-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-310
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 contributions2022-12-31944,017
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 date2022-12-31910,383
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 cost2022-12-31205,181
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Waived amount of outstanding balance2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-310
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-310
Contributions allocatedtoward minimum required contributions for current year2022-12-31910,383
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: GARDEN CITY DERMATOLOGY PC DEFINED BENEFIT PLAN 2021 401k membership
Market value of plan assets2021-12-313,125,594
Acturial value of plan assets2021-12-313,125,594
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-3111
Fundng target for terminated vested participants2021-12-3132,892
Active participant vested funding target2021-12-311,789,388
Number of active participants2021-12-3117
Total funding liabilities for active participants2021-12-311,814,204
Total participant count2021-12-3128
Total funding target for all participants2021-12-311,847,096
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 contributions2021-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-310
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 contributions2021-12-31142,349
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 date2021-12-31137,923
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 cost2021-12-31209,704
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Waived amount of outstanding balance2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-310
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-310
Contributions allocatedtoward minimum required contributions for current year2021-12-31137,923
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: GARDEN CITY DERMATOLOGY PC DEFINED BENEFIT PLAN 2020 401k membership
Market value of plan assets2020-12-312,438,221
Acturial value of plan assets2020-12-312,438,221
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-316
Fundng target for terminated vested participants2020-12-314,871
Active participant vested funding target2020-12-311,488,659
Number of active participants2020-12-3121
Total funding liabilities for active participants2020-12-311,488,659
Total participant count2020-12-3127
Total funding target for all participants2020-12-311,493,530
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-310
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 balance2020-12-310
Present value of excess contributions2020-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-310
Total available prior years excess cotributions added 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 contributions2020-12-31279,902
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 date2020-12-31270,469
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 cost2020-12-31218,005
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Waived amount of outstanding balance2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-310
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-310
Contributions allocatedtoward minimum required contributions for current year2020-12-31270,469
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: GARDEN CITY DERMATOLOGY PC DEFINED BENEFIT PLAN 2019 401k membership
Market value of plan assets2019-12-311,939,724
Acturial value of plan assets2019-12-311,939,724
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-316
Fundng target for terminated vested participants2019-12-3121,462
Active participant vested funding target2019-12-311,200,239
Number of active participants2019-12-3121
Total funding liabilities for active participants2019-12-311,212,215
Total participant count2019-12-3127
Total funding target for all participants2019-12-311,233,677
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 contributions2019-12-31257,170
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 date2019-12-31248,174
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 cost2019-12-31219,830
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Waived amount of outstanding balance2019-12-310
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 year2019-12-31248,174
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: GARDEN CITY DERMATOLOGY PC DEFINED BENEFIT PLAN 2018 401k membership
Market value of plan assets2018-12-311,248,274
Acturial value of plan assets2018-12-311,248,274
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-315
Fundng target for terminated vested participants2018-12-3116,669
Active participant vested funding target2018-12-31932,381
Number of active participants2018-12-3121
Total funding liabilities for active participants2018-12-31936,936
Total participant count2018-12-3126
Total funding target for all participants2018-12-31953,605
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 contributions2018-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-310
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 contributions2018-12-31473,599
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 date2018-12-31455,337
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 cost2018-12-31206,156
Net shortfall amortization installment of oustanding balance2018-12-310
Waiver amortization installment2018-12-310
Waived amount of outstanding balance2018-12-310
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 year2018-12-31455,337
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: GARDEN CITY DERMATOLOGY PC DEFINED BENEFIT PLAN 2017 401k membership
Market value of plan assets2017-12-311,041,948
Acturial value of plan assets2017-12-311,041,948
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-314
Fundng target for terminated vested participants2017-12-3113,085
Active participant vested funding target2017-12-31677,104
Number of active participants2017-12-3120
Total funding liabilities for active participants2017-12-31685,533
Total participant count2017-12-3124
Total funding target for all participants2017-12-31698,618
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 contributions2017-12-31310,347
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-31310,393
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 contributions2017-12-31311,633
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 date2017-12-31299,863
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 cost2017-12-31206,065
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Waived amount of outstanding balance2017-12-310
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 year2017-12-31299,863
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: GARDEN CITY DERMATOLOGY PC DEFINED BENEFIT PLAN 2016 401k membership
Market value of plan assets2016-12-31633,772
Acturial value of plan assets2016-12-31633,772
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-311
Fundng target for terminated vested participants2016-12-311,001
Active participant vested funding target2016-12-310
Number of active participants2016-12-3118
Total funding liabilities for active participants2016-12-31450,064
Total participant count2016-12-3119
Total funding target for all participants2016-12-31451,065
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 contributions2016-12-31175,622
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-31175,649
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 contributions2016-12-31351,286
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 date2016-12-31338,439
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 cost2016-12-31210,800
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 balances2016-12-3128,092
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-3128,092
Contributions allocatedtoward minimum required contributions for current year2016-12-31338,439
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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