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PAUL J. LOVERME, MD, PA PROFIT-SHARING PLAN 401k Plan overview

Plan NamePAUL J. LOVERME, MD, PA PROFIT-SHARING PLAN
Plan identification number 001

PAUL J. LOVERME, MD, PA PROFIT-SHARING PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • 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

PAUL J. LOVERME, MD, PA has sponsored the creation of one or more 401k plans.

Company Name:PAUL J. LOVERME, MD, PA
Employer identification number (EIN):223112458
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PAUL J. LOVERME, MD, PA PROFIT-SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01PAUL J. LOVERME, MD, FACS2024-10-08
0012022-01-01PAUL J. LOVERME, MD, FACS2023-08-21
0012021-01-01PAUL J. LOVERME, MD, FACS2022-07-19
0012020-01-01
0012019-01-01
0012018-01-01
0012017-01-01PAUL J. LOVERME, MD, FACS2018-06-05
0012016-01-01PAUL J. LOVERME, MD, FACS2017-05-30
0012015-01-01
0012014-01-01
0012013-01-01PAUL LOVERME2014-09-04 PAUL LOVERME2014-09-04
0012012-01-01PAUL LOVERME2013-07-30 PAUL LOVERME2013-07-30
0012011-01-01PAUL LOVERME2012-04-02 PAUL LOVERME2012-04-02
0012010-01-01PAUL LOVERME2011-03-23 PAUL LOVERME2011-03-23

Plan Statistics for PAUL J. LOVERME, MD, PA PROFIT-SHARING PLAN

401k plan membership statisitcs for PAUL J. LOVERME, MD, PA PROFIT-SHARING PLAN

Measure Date Value
2020: PAUL J. LOVERME, MD, PA PROFIT-SHARING PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-015
Total number of active participants reported on line 7a of the Form 55002020-01-016
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-010
Total of all active and inactive participants2020-01-016
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-016
Number of participants with account balances2020-01-016
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: PAUL J. LOVERME, MD, PA PROFIT-SHARING PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-015
Total number of active participants reported on line 7a of the Form 55002019-01-014
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-011
Total of all active and inactive participants2019-01-015
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-015
Number of participants with account balances2019-01-014
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: PAUL J. LOVERME, MD, PA PROFIT-SHARING PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-014
Total number of active participants reported on line 7a of the Form 55002018-01-015
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-010
Total of all active and inactive participants2018-01-015
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-015
Number of participants with account balances2018-01-015
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010

Financial Data on PAUL J. LOVERME, MD, PA PROFIT-SHARING PLAN

Measure Date Value
2020 : PAUL J. LOVERME, MD, PA PROFIT-SHARING PLAN 2020 401k financial data
Transfers to/from the plan2020-12-31$0
Total plan liabilities at end of year2020-12-31$0
Total plan liabilities at beginning of year2020-12-31$0
Total income from all sources2020-12-31$434,299
Expenses. Total of all expenses incurred2020-12-31$36,717
Benefits paid (including direct rollovers)2020-12-31$109
Total plan assets at end of year2020-12-31$4,276,849
Total plan assets at beginning of year2020-12-31$3,879,267
Value of fidelity bond covering the plan2020-12-31$350,000
Total contributions received or receivable from participants2020-12-31$51,029
Expenses. Other expenses not covered elsewhere2020-12-31$0
Contributions received from other sources (not participants or employers)2020-12-31$0
Other income received2020-12-31$326,505
Noncash contributions received2020-12-31$0
Net income (gross income less expenses)2020-12-31$397,582
Net plan assets at end of year (total assets less liabilities)2020-12-31$4,276,849
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$3,879,267
Assets. Value of participant loans2020-12-31$10,387
Total contributions received or receivable from employer(s)2020-12-31$56,765
Value of certain deemed distributions of participant loans2020-12-31$0
Value of corrective distributions2020-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$36,608
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
2019 : PAUL J. LOVERME, MD, PA PROFIT-SHARING PLAN 2019 401k financial data
Transfers to/from the plan2019-12-31$0
Total plan liabilities at end of year2019-12-31$0
Total plan liabilities at beginning of year2019-12-31$0
Total income from all sources2019-12-31$706,761
Expenses. Total of all expenses incurred2019-12-31$36,112
Benefits paid (including direct rollovers)2019-12-31$1,744
Total plan assets at end of year2019-12-31$3,879,267
Total plan assets at beginning of year2019-12-31$3,208,618
Value of fidelity bond covering the plan2019-12-31$350,000
Total contributions received or receivable from participants2019-12-31$55,576
Expenses. Other expenses not covered elsewhere2019-12-31$0
Contributions received from other sources (not participants or employers)2019-12-31$0
Other income received2019-12-31$638,373
Noncash contributions received2019-12-31$0
Net income (gross income less expenses)2019-12-31$670,649
Net plan assets at end of year (total assets less liabilities)2019-12-31$3,879,267
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$3,208,618
Assets. Value of participant loans2019-12-31$12,289
Total contributions received or receivable from employer(s)2019-12-31$12,812
Value of certain deemed distributions of participant loans2019-12-31$0
Value of corrective distributions2019-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$34,368
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
2018 : PAUL J. LOVERME, MD, PA PROFIT-SHARING PLAN 2018 401k financial data
Transfers to/from the plan2018-12-31$0
Total plan liabilities at end of year2018-12-31$0
Total plan liabilities at beginning of year2018-12-31$0
Total income from all sources2018-12-31$-96,303
Expenses. Total of all expenses incurred2018-12-31$32,821
Benefits paid (including direct rollovers)2018-12-31$0
Total plan assets at end of year2018-12-31$3,208,618
Total plan assets at beginning of year2018-12-31$3,337,742
Value of fidelity bond covering the plan2018-12-31$155,000
Total contributions received or receivable from participants2018-12-31$55,669
Expenses. Other expenses not covered elsewhere2018-12-31$0
Contributions received from other sources (not participants or employers)2018-12-31$0
Other income received2018-12-31$-166,820
Noncash contributions received2018-12-31$0
Net income (gross income less expenses)2018-12-31$-129,124
Net plan assets at end of year (total assets less liabilities)2018-12-31$3,208,618
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$3,337,742
Assets. Value of participant loans2018-12-31$28,077
Total contributions received or receivable from employer(s)2018-12-31$14,848
Value of certain deemed distributions of participant loans2018-12-31$0
Value of corrective distributions2018-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$32,821

Form 5500 Responses for PAUL J. LOVERME, MD, PA PROFIT-SHARING PLAN

2020: PAUL J. LOVERME, MD, PA PROFIT-SHARING PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingNo
2020-01-01This return/report is a short plan year return/report (less than 12 months)No
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: PAUL J. LOVERME, MD, PA PROFIT-SHARING PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: PAUL J. LOVERME, MD, PA PROFIT-SHARING PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedNo
2018-01-01This submission is the final filingNo
2018-01-01This return/report is a short plan year return/report (less than 12 months)No
2018-01-01Plan is a collectively bargained planNo
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes

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