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LASER & SKIN SURGERY CENTER OF RICHMOND, PC CASH BALANCE PLAN 401k Plan overview

Plan NameLASER & SKIN SURGERY CENTER OF RICHMOND, PC CASH BALANCE PLAN
Plan identification number 002

LASER & SKIN SURGERY CENTER OF RICHMOND, PC CASH BALANCE 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).

401k Sponsoring company profile

LASER & SKIN SURGERY CENTER OF RICHMOND, PC has sponsored the creation of one or more 401k plans.

Company Name:LASER & SKIN SURGERY CENTER OF RICHMOND, PC
Employer identification number (EIN):261855348
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan LASER & SKIN SURGERY CENTER OF RICHMOND, PC CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022017-01-01

Plan Statistics for LASER & SKIN SURGERY CENTER OF RICHMOND, PC CASH BALANCE PLAN

401k plan membership statisitcs for LASER & SKIN SURGERY CENTER OF RICHMOND, PC CASH BALANCE PLAN

Measure Date Value
2017: LASER & SKIN SURGERY CENTER OF RICHMOND, PC CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-12-311,052,030
Acturial value of plan assets2017-12-311,052,030
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-310
Fundng target for terminated vested participants2017-12-310
Active participant vested funding target2017-12-311,087,537
Number of active participants2017-12-316
Total funding liabilities for active participants2017-12-311,087,537
Total participant count2017-12-316
Total funding target for all participants2017-12-311,087,537
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 contributions2017-12-3127,831
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3127,831
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 contributions2017-12-31139,741
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 date2017-12-31138,383
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 cost2017-12-31114,909
Net shortfall amortization installment of oustanding balance2017-12-3135,507
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31120,740
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-31120,740
Contributions allocatedtoward minimum required contributions for current year2017-12-31138,383
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310

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