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MICHAEL A. BAIN INC CASH BALANCE PENSION PLAN 401k Plan overview

Plan NameMICHAEL A. BAIN INC CASH BALANCE PENSION PLAN
Plan identification number 002

MICHAEL A. BAIN INC CASH BALANCE PENSION PLAN Benefits

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

401k Sponsoring company profile

MICHAEL A. BAIN MD, INC has sponsored the creation of one or more 401k plans.

Company Name:MICHAEL A. BAIN MD, INC
Employer identification number (EIN):203256251
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MICHAEL A. BAIN INC CASH BALANCE PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01STEIDLE PENSION SOLUTIONS2024-09-23
0022022-01-01KEITH STEIDLE2023-08-21
0022021-01-01KEITH STEIDLE2022-09-26
0022020-01-01
0022019-01-01MICHAEL BAIN2020-10-06 MICHAEL BAIN2020-10-06
0022018-01-01
0022017-01-01
0022016-01-01MICHAEL BAIN2017-09-29 MICHAEL BAIN2017-08-04
0022015-01-01MICHAEL BAIN2016-06-22

Plan Statistics for MICHAEL A. BAIN INC CASH BALANCE PENSION PLAN

401k plan membership statisitcs for MICHAEL A. BAIN INC CASH BALANCE PENSION PLAN

Measure Date Value
2022: MICHAEL A. BAIN INC CASH BALANCE PENSION PLAN 2022 401k membership
Market value of plan assets2022-12-31627,070
Acturial value of plan assets2022-12-31627,070
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-312
Fundng target for terminated vested participants2022-12-31364,438
Active participant vested funding target2022-12-31528,539
Number of active participants2022-12-314
Total funding liabilities for active participants2022-12-31528,539
Total participant count2022-12-316
Total funding target for all participants2022-12-31892,977
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 contributions2022-12-31130,373
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 date2022-12-31127,163
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 cost2022-12-31101,954
Net shortfall amortization installment of oustanding balance2022-12-31265,907
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-31126,527
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-31126,527
Contributions allocatedtoward minimum required contributions for current year2022-12-31127,163
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: MICHAEL A. BAIN INC CASH BALANCE PENSION PLAN 2021 401k membership
Market value of plan assets2021-12-31897,265
Acturial value of plan assets2021-12-31897,265
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-311
Fundng target for terminated vested participants2021-12-3147,736
Active participant vested funding target2021-12-31691,155
Number of active participants2021-12-313
Total funding liabilities for active participants2021-12-31691,155
Total participant count2021-12-314
Total funding target for all participants2021-12-31738,891
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 contributions2021-12-311,192
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-311,192
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
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 date2021-12-310
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 cost2021-12-3197,918
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 year2021-12-310
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: MICHAEL A. BAIN INC CASH BALANCE PENSION PLAN 2020 401k membership
Market value of plan assets2020-12-31659,941
Acturial value of plan assets2020-12-31659,941
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 target2020-12-31589,652
Number of active participants2020-12-312
Total funding liabilities for active participants2020-12-31589,652
Total participant count2020-12-312
Total funding target for all participants2020-12-31589,652
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 contributions2020-12-3140,089
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-3140,089
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 contributions2020-12-3133,000
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 date2020-12-3132,534
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 cost2020-12-31101,631
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-3131,342
Additional cash requirement2020-12-3131,342
Contributions allocatedtoward minimum required contributions for current year2020-12-3132,534
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: MICHAEL A. BAIN INC CASH BALANCE PENSION PLAN 2019 401k membership
Market value of plan assets2019-12-31659,918
Acturial value of plan assets2019-12-31659,918
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-310
Fundng target for terminated vested participants2019-12-310
Active participant vested funding target2019-12-31465,537
Number of active participants2019-12-313
Total funding liabilities for active participants2019-12-31465,537
Total participant count2019-12-313
Total funding target for all participants2019-12-31465,537
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 contributions2019-12-31712
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-31712
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 contributions2019-12-3140,000
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 date2019-12-3140,089
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 cost2019-12-31102,867
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 year2019-12-3140,089
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: MICHAEL A. BAIN INC CASH BALANCE PENSION PLAN 2018 401k membership
Market value of plan assets2018-12-31305,748
Acturial value of plan assets2018-12-31305,748
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-310
Fundng target for terminated vested participants2018-12-310
Active participant vested funding target2018-12-31332,419
Number of active participants2018-12-313
Total funding liabilities for active participants2018-12-31332,419
Total participant count2018-12-313
Total funding target for all participants2018-12-31332,419
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 contributions2018-12-3137,694
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-3137,694
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-3137,694
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 year2018-12-3137,694
Total employer contributions2018-12-31107,900
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 date2018-12-31105,491
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 cost2018-12-31100,425
Net shortfall amortization installment of oustanding balance2018-12-3126,671
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31104,779
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-31104,779
Contributions allocatedtoward minimum required contributions for current year2018-12-31105,491
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: MICHAEL A. BAIN INC CASH BALANCE PENSION PLAN 2017 401k membership
Market value of plan assets2017-12-31266,336
Acturial value of plan assets2017-12-31266,336
Number of terminated vested participants2017-12-310
Fundng target for terminated vested participants2017-12-310
Active participant vested funding target2017-12-31209,538
Number of active participants2017-12-312
Total funding liabilities for active participants2017-12-31209,538
Total participant count2017-12-312
Total funding target for all participants2017-12-31209,538
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 contributions2017-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-310
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 contributions2017-12-3179,087
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 date2017-12-3178,242
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 cost2017-12-3197,346
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-3140,548
Additional cash requirement2017-12-3140,548
Contributions allocatedtoward minimum required contributions for current year2017-12-3178,242
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: MICHAEL A. BAIN INC CASH BALANCE PENSION PLAN 2016 401k membership
Market value of plan assets2016-12-31126,043
Acturial value of plan assets2016-12-31126,043
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 target2016-12-31100,600
Number of active participants2016-12-313
Total funding liabilities for active participants2016-12-31100,600
Total participant count2016-12-313
Total funding target for all participants2016-12-31100,600
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 contributions2016-12-3112,561
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-3112,561
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 contributions2016-12-3173,794
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 date2016-12-3172,050
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 cost2016-12-3195,809
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-3170,366
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-3170,366
Contributions allocatedtoward minimum required contributions for current year2016-12-3172,050
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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