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PLASTIC SURGERY OF SHORT HILLS, PC CASH BALANCE PLAN 401k Plan overview

Plan NamePLASTIC SURGERY OF SHORT HILLS, PC CASH BALANCE PLAN
Plan identification number 002

PLASTIC SURGERY OF SHORT HILLS, PC CASH BALANCE PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • 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).
  • Plan covering Self-Employed individuals.
  • 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

PLASTIC SURGERY OF SHORT HILLS, PC has sponsored the creation of one or more 401k plans.

Company Name:PLASTIC SURGERY OF SHORT HILLS, PC
Employer identification number (EIN):272693448
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PLASTIC SURGERY OF SHORT HILLS, PC CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01ALEXANDER OVCHINSKY, MD2024-05-10
0022022-01-01ALEXANDER OVCHINSKY, MD2023-03-24
0022021-01-01ALEXANDER OVCHINSKY2022-03-15
0022020-01-01ALEXANDER OVCHINSKY2021-04-29
0022019-01-01ALEXANDER OVCHINSKY2020-05-21

Plan Statistics for PLASTIC SURGERY OF SHORT HILLS, PC CASH BALANCE PLAN

401k plan membership statisitcs for PLASTIC SURGERY OF SHORT HILLS, PC CASH BALANCE PLAN

Measure Date Value
2022: PLASTIC SURGERY OF SHORT HILLS, PC CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-311,087,030
Acturial value of plan assets2022-12-311,087,030
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-311
Fundng target for terminated vested participants2022-12-312,364
Active participant vested funding target2022-12-31449,902
Number of active participants2022-12-315
Total funding liabilities for active participants2022-12-31525,050
Total participant count2022-12-316
Total funding target for all participants2022-12-31527,414
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-31186,895
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 balance2022-12-31186,895
Present value of excess contributions2022-12-31196,398
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31205,825
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-31205,825
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 year2022-12-31424,118
Total employer contributions2022-12-31280,000
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 date2022-12-31277,443
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 cost2022-12-31190,055
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-3154,557
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-3154,557
Contributions allocatedtoward minimum required contributions for current year2022-12-31277,443
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: PLASTIC SURGERY OF SHORT HILLS, PC CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-31604,913
Acturial value of plan assets2021-12-31604,913
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-310
Fundng target for terminated vested participants2021-12-310
Active participant vested funding target2021-12-310
Number of active participants2021-12-314
Total funding liabilities for active participants2021-12-31382,772
Total participant count2021-12-314
Total funding target for all participants2021-12-31382,772
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-317,600
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 balance2021-12-317,600
Present value of excess contributions2021-12-31168,925
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-31177,743
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-31177,743
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 year2021-12-31186,895
Total employer contributions2021-12-31350,000
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 date2021-12-31339,411
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 cost2021-12-31178,259
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-31143,013
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-31143,013
Contributions allocatedtoward minimum required contributions for current year2021-12-31339,411
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: PLASTIC SURGERY OF SHORT HILLS, PC CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-31181,654
Acturial value of plan assets2020-12-31181,654
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 target2020-12-310
Number of active participants2020-12-314
Total funding liabilities for active participants2020-12-31173,878
Total participant count2020-12-314
Total funding target for all participants2020-12-31173,878
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 contributions2020-12-3113,429
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-3114,149
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-3114,149
Reductions in caryover balances due to elections or deemed elections2020-12-310
Reductions in prefunding balances due to elections or deemed elections2020-12-316,549
Balance of carryovers at beginning of current year2020-12-310
Balance of prefunding at beginning of current year2020-12-317,600
Total employer contributions2020-12-31350,000
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 date2020-12-31340,362
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 cost2020-12-31171,613
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-31171,437
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-31171,437
Contributions allocatedtoward minimum required contributions for current year2020-12-31340,362
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: PLASTIC SURGERY OF SHORT HILLS, PC CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-310
Acturial value of plan assets2019-12-310
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 target2019-12-310
Number of active participants2019-12-314
Total funding liabilities for active participants2019-12-310
Total participant count2019-12-314
Total funding target for all participants2019-12-310
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 contributions2019-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-310
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 contributions2019-12-31182,880
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 date2019-12-31172,530
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 cost2019-12-31159,101
Net shortfall amortization installment of oustanding balance2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31159,101
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-31159,101
Contributions allocatedtoward minimum required contributions for current year2019-12-31172,530
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310

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