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THE PALMIERO GROUP RETIREMENT PLAN 401k Plan overview

Plan NameTHE PALMIERO GROUP RETIREMENT PLAN
Plan identification number 001

THE PALMIERO GROUP RETIREMENT PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

THE PALMIERO GROUP LLC has sponsored the creation of one or more 401k plans.

Company Name:THE PALMIERO GROUP LLC
Employer identification number (EIN):202330580
NAIC Classification:621399
NAIC Description:Offices of All Other Miscellaneous Health Practitioners

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE PALMIERO GROUP RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01MICHAEL PULEO2023-10-10
0012021-01-01MICHAEL PULEO2023-02-14
0012020-01-01MICHAEL PULEO2021-10-11
0012019-01-01MICHAEL PULEO2020-10-13
0012018-01-01MICHAEL PULEO2019-10-10
0012017-01-01MICHAEL PULEO2018-10-13
0012016-01-01MICHAEL PULEO2017-10-03
0012015-01-01MICHAEL PULEO2016-10-08

Plan Statistics for THE PALMIERO GROUP RETIREMENT PLAN

401k plan membership statisitcs for THE PALMIERO GROUP RETIREMENT PLAN

Measure Date Value
2022: THE PALMIERO GROUP RETIREMENT PLAN 2022 401k membership
Market value of plan assets2022-12-313,706,292
Acturial value of plan assets2022-12-313,706,292
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-317
Fundng target for terminated vested participants2022-12-3124,122
Active participant vested funding target2022-12-312,292,609
Number of active participants2022-12-3119
Total funding liabilities for active participants2022-12-312,292,609
Total participant count2022-12-3126
Total funding target for all participants2022-12-312,316,731
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 contributions2022-12-31681,134
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31681,134
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 contributions2022-12-311,105,140
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 date2022-12-311,067,067
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 cost2022-12-31380,765
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
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 year2022-12-311,067,067
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: THE PALMIERO GROUP RETIREMENT PLAN 2021 401k membership
Market value of plan assets2021-12-313,508,542
Acturial value of plan assets2021-12-313,508,542
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-316
Fundng target for terminated vested participants2021-12-3116,306
Active participant vested funding target2021-12-311,818,020
Number of active participants2021-12-3121
Total funding liabilities for active participants2021-12-311,818,020
Total participant count2021-12-3127
Total funding target for all participants2021-12-311,834,326
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 contributions2021-12-311,017,288
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-311,017,288
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 contributions2021-12-31705,467
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 date2021-12-31681,134
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 cost2021-12-31318,314
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-310
Additional cash requirement2021-12-310
Contributions allocatedtoward minimum required contributions for current year2021-12-31681,134
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: THE PALMIERO GROUP RETIREMENT PLAN 2020 401k membership
Market value of plan assets2020-12-312,196,107
Acturial value of plan assets2020-12-312,196,107
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-316
Fundng target for terminated vested participants2020-12-3129,179
Active participant vested funding target2020-12-311,396,838
Number of active participants2020-12-3116
Total funding liabilities for active participants2020-12-311,396,838
Total participant count2020-12-3122
Total funding target for all participants2020-12-311,426,017
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 contributions2020-12-31667,680
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-31667,680
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 contributions2020-12-311,053,140
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 date2020-12-311,017,288
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 cost2020-12-31282,699
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-310
Additional cash requirement2020-12-310
Contributions allocatedtoward minimum required contributions for current year2020-12-311,017,288
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: THE PALMIERO GROUP RETIREMENT PLAN 2019 401k membership
Market value of plan assets2019-12-311,268,344
Acturial value of plan assets2019-12-311,268,344
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-313
Fundng target for terminated vested participants2019-12-316,438
Active participant vested funding target2019-12-311,081,734
Number of active participants2019-12-3120
Total funding liabilities for active participants2019-12-311,081,734
Total participant count2019-12-3123
Total funding target for all participants2019-12-311,088,172
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 contributions2019-12-31259,020
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-31259,020
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 contributions2019-12-31780,140
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 date2019-12-31756,269
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 cost2019-12-31268,761
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-3188,589
Additional cash requirement2019-12-3188,589
Contributions allocatedtoward minimum required contributions for current year2019-12-31756,269
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: THE PALMIERO GROUP RETIREMENT PLAN 2018 401k membership
Market value of plan assets2018-12-31735,889
Acturial value of plan assets2018-12-31735,889
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-311
Fundng target for terminated vested participants2018-12-311,935
Active participant vested funding target2018-12-31710,965
Number of active participants2018-12-3121
Total funding liabilities for active participants2018-12-31710,965
Total participant count2018-12-3122
Total funding target for all participants2018-12-31712,900
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 contributions2018-12-31182,869
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-31182,869
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-310
Total employer contributions2018-12-31485,591
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 date2018-12-31468,777
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 cost2018-12-31232,746
Net shortfall amortization installment of oustanding balance2018-12-310
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31209,757
Additional cash requirement2018-12-31209,757
Contributions allocatedtoward minimum required contributions for current year2018-12-31468,777
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: THE PALMIERO GROUP RETIREMENT PLAN 2017 401k membership
Market value of plan assets2017-12-31492,021
Acturial value of plan assets2017-12-31492,021
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-311
Fundng target for terminated vested participants2017-12-311,117
Active participant vested funding target2017-12-310
Number of active participants2017-12-3120
Total funding liabilities for active participants2017-12-31420,002
Total participant count2017-12-3121
Total funding target for all participants2017-12-31421,119
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 contributions2017-12-31112,471
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-31112,471
Balance of carryovers at beginning of current year2017-12-310
Balance of prefunding at beginning of current year2017-12-310
Total employer contributions2017-12-31329,834
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 date2017-12-31313,100
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 cost2017-12-31201,133
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31130,231
Additional cash requirement2017-12-31130,231
Contributions allocatedtoward minimum required contributions for current year2017-12-31313,100
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: THE PALMIERO GROUP RETIREMENT PLAN 2016 401k membership
Market value of plan assets2016-12-31194,155
Acturial value of plan assets2016-12-31194,155
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 participants2016-12-3115
Total funding liabilities for active participants2016-12-31204,617
Total participant count2016-12-3115
Total funding target for all participants2016-12-31204,617
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 contributions2016-12-3163,112
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-3163,112
Balance of carryovers at beginning of current year2016-12-310
Balance of prefunding at beginning of current year2016-12-310
Total employer contributions2016-12-31310,002
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 date2016-12-31292,478
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 cost2016-12-31177,664
Net shortfall amortization installment of oustanding balance2016-12-3110,462
Waiver amortization installment2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-31180,007
Additional cash requirement2016-12-31180,007
Contributions allocatedtoward minimum required contributions for current year2016-12-31292,478
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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