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PREMIER MEDICAL CLINICS, PC CASH BALANCE PLAN 401k Plan overview

Plan NamePREMIER MEDICAL CLINICS, PC CASH BALANCE PLAN
Plan identification number 002

PREMIER MEDICAL CLINICS, PC CASH BALANCE PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • 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).
  • Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).
  • 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

PREMIER MEDICAL CLINICS, PC has sponsored the creation of one or more 401k plans.

Company Name:PREMIER MEDICAL CLINICS, PC
Employer identification number (EIN):263672009
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PREMIER MEDICAL CLINICS, PC CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022021-01-01MOHAMADALI AMLANI2021-12-29
0022020-01-01MOHAMADALI AMLANI2021-10-12
0022019-01-01MOHAMADALI AMLANI2020-10-13
0022018-01-01MOHAMADALI AMLANI2019-10-09
0022017-01-01MOHAMADALI AMLANI2018-10-12
0022016-01-01MOHAMADALI AMLANI2017-10-16
0022015-01-01MOHAMADALI AMLANI2016-10-14

Plan Statistics for PREMIER MEDICAL CLINICS, PC CASH BALANCE PLAN

401k plan membership statisitcs for PREMIER MEDICAL CLINICS, PC CASH BALANCE PLAN

Measure Date Value
2021: PREMIER MEDICAL CLINICS, PC CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-08-242,801,887
Acturial value of plan assets2021-08-242,801,887
Funding target for retired participants and beneficiaries receiving payment2021-08-240
Number of terminated vested participants2021-08-2440
Fundng target for terminated vested participants2021-08-24232,196
Active participant vested funding target2021-08-242,514,469
Number of active participants2021-08-2454
Total funding liabilities for active participants2021-08-242,514,469
Total participant count2021-08-2494
Total funding target for all participants2021-08-242,746,665
Balance at beginning of prior year after applicable adjustments2021-08-240
Prefunding balance at beginning of prior year after applicable adjustments2021-08-240
Carryover balanced portion elected for use to offset prior years funding requirement2021-08-240
Prefunding balanced used to offset prior years funding requirement2021-08-240
Amount remaining of carryover balance2021-08-240
Amount remaining of prefunding balance2021-08-240
Present value of excess contributions2021-08-240
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-08-240
Reductions in caryover balances due to elections or deemed elections2021-08-240
Reductions in prefunding balances due to elections or deemed elections2021-08-240
Balance of carryovers at beginning of current year2021-08-240
Balance of prefunding at beginning of current year2021-08-240
Total employer contributions2021-08-240
Total employee contributions2021-08-240
Contributions allocated toward unpaid minimum require contributions from prior years2021-08-240
Contributions made to avoid restrictions adjusted to valuation date2021-08-240
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-08-240
Unpaid minimum required contributions for all prior years2021-08-240
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-08-240
Remaining amount of unpaid minimum required contributions2021-08-240
Minimum required contributions for current year target normal cost2021-08-240
Net shortfall amortization installment of oustanding balance2021-08-240
Waiver amortization installment2021-08-240
Total funding amount beforereflecting carryover/prefunding balances2021-08-240
Additional cash requirement2021-08-240
Contributions allocatedtoward minimum required contributions for current year2021-08-240
Unpaid minimum required contributions for current year2021-08-240
Unpaid minimum required contributions for all years2021-08-240
2020: PREMIER MEDICAL CLINICS, PC CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-312,799,461
Acturial value of plan assets2020-12-312,799,461
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-3140
Fundng target for terminated vested participants2020-12-31232,480
Active participant vested funding target2020-12-312,523,628
Number of active participants2020-12-3154
Total funding liabilities for active participants2020-12-312,523,628
Total participant count2020-12-3194
Total funding target for all participants2020-12-312,756,108
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 contributions2020-12-3112,945
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-3112,945
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 contributions2020-12-310
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 date2020-12-310
Liquidity shortfalls end of Q12020-12-310
Liquidity shortfalls end of Q22020-12-310
Liquidity shortfalls end of Q32020-12-310
Liquidity shortfalls end of Q42020-12-310
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 cost2020-12-310
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
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 year2020-12-310
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: PREMIER MEDICAL CLINICS, PC CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-312,280,046
Acturial value of plan assets2019-12-312,280,046
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-3138
Fundng target for terminated vested participants2019-12-31213,589
Active participant vested funding target2019-12-312,113,977
Number of active participants2019-12-3158
Total funding liabilities for active participants2019-12-312,113,977
Total participant count2019-12-3196
Total funding target for all participants2019-12-312,327,566
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 contributions2019-12-312,079
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-312,079
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 contributions2019-12-31537,133
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 date2019-12-31499,451
Liquidity shortfalls end of Q12019-12-310
Liquidity shortfalls end of Q22019-12-310
Liquidity shortfalls end of Q32019-12-310
Liquidity shortfalls end of Q42019-12-310
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 cost2019-12-31474,919
Net shortfall amortization installment of oustanding balance2019-12-3147,520
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31486,506
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-31486,506
Contributions allocatedtoward minimum required contributions for current year2019-12-31499,451
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: PREMIER MEDICAL CLINICS, PC CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-311,534,806
Acturial value of plan assets2018-12-311,534,806
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-3134
Fundng target for terminated vested participants2018-12-31195,201
Active participant vested funding target2018-12-311,538,826
Number of active participants2018-12-3155
Total funding liabilities for active participants2018-12-311,538,826
Total participant count2018-12-3189
Total funding target for all participants2018-12-311,734,027
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 contributions2018-12-3159,834
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-3159,834
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 contributions2018-12-31540,000
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 date2018-12-31522,147
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 cost2018-12-31487,545
Net shortfall amortization installment of oustanding balance2018-12-31199,221
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31520,068
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-31520,068
Contributions allocatedtoward minimum required contributions for current year2018-12-31522,147
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: PREMIER MEDICAL CLINICS, PC CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-12-311,107,645
Acturial value of plan assets2017-12-311,107,645
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-3125
Fundng target for terminated vested participants2017-12-3114,538
Active participant vested funding target2017-12-311,045,565
Number of active participants2017-12-3154
Total funding liabilities for active participants2017-12-311,045,565
Total participant count2017-12-3179
Total funding target for all participants2017-12-311,060,103
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 contributions2017-12-3160,211
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3160,211
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 contributions2017-12-31540,000
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 date2017-12-31520,029
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 cost2017-12-31507,737
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31460,195
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-31460,195
Contributions allocatedtoward minimum required contributions for current year2017-12-31520,029
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: PREMIER MEDICAL CLINICS, PC CASH BALANCE PLAN 2016 401k membership
Market value of plan assets2016-12-31523,411
Acturial value of plan assets2016-12-31523,411
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-3114
Fundng target for terminated vested participants2016-12-316,508
Active participant vested funding target2016-12-31497,364
Number of active participants2016-12-3162
Total funding liabilities for active participants2016-12-31497,364
Total participant count2016-12-3176
Total funding target for all participants2016-12-31503,872
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 contributions2016-12-3194,093
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-3194,093
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 contributions2016-12-31547,000
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 date2016-12-31526,192
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 cost2016-12-31485,520
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-31465,981
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-31465,981
Contributions allocatedtoward minimum required contributions for current year2016-12-31526,192
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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