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SPECTRUM CARE MANAGEMENT AND COUNSELING LLC CASH BALANCE PLAN 401k Plan overview

Plan NameSPECTRUM CARE MANAGEMENT AND COUNSELING LLC CASH BALANCE PLAN
Plan identification number 002

SPECTRUM CARE MANAGEMENT AND COUNSELING LLC 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).
  • 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

SPECTRUM CARE MANAGEMENT AND COUNSELING, LLC has sponsored the creation of one or more 401k plans.

Company Name:SPECTRUM CARE MANAGEMENT AND COUNSELING, LLC
Employer identification number (EIN):273211702
NAIC Classification:624100
NAIC Description: Individual and Family Services

Additional information about SPECTRUM CARE MANAGEMENT AND COUNSELING, LLC

Jurisdiction of Incorporation: New Jersey Division of Revenue and Enterprise Services
Incorporation Date:
Company Identification Number: 0400363628

More information about SPECTRUM CARE MANAGEMENT AND COUNSELING, LLC

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SPECTRUM CARE MANAGEMENT AND COUNSELING LLC CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01BENNI VERSACI2024-09-09
0022022-01-01BENNI VERSACI2023-07-25
0022021-01-01BENNI VERSACI2022-08-03
0022020-01-01BENNI VERSACI2021-07-05
0022019-01-01BENNI VERSACI2020-09-21
0022018-01-01BENNI VERSACI2019-06-12

Plan Statistics for SPECTRUM CARE MANAGEMENT AND COUNSELING LLC CASH BALANCE PLAN

401k plan membership statisitcs for SPECTRUM CARE MANAGEMENT AND COUNSELING LLC CASH BALANCE PLAN

Measure Date Value
2022: SPECTRUM CARE MANAGEMENT AND COUNSELING LLC CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-311,023,341
Acturial value of plan assets2022-12-311,023,341
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-310
Fundng target for terminated vested participants2022-12-310
Active participant vested funding target2022-12-31598,059
Number of active participants2022-12-3126
Total funding liabilities for active participants2022-12-31606,830
Total participant count2022-12-3126
Total funding target for all participants2022-12-31606,830
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-31206,049
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 balance2022-12-31206,049
Present value of excess contributions2022-12-31126,334
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31132,562
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-31132,562
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 year2022-12-31360,123
Total employer contributions2022-12-31625,000
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 date2022-12-31592,135
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 cost2022-12-31139,450
Net shortfall amortization installment of oustanding balance2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-3183,062
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-3183,062
Contributions allocatedtoward minimum required contributions for current year2022-12-31592,135
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: SPECTRUM CARE MANAGEMENT AND COUNSELING LLC CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-31684,130
Acturial value of plan assets2021-12-31684,130
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 target2021-12-31437,339
Number of active participants2021-12-3124
Total funding liabilities for active participants2021-12-31448,135
Total participant count2021-12-3124
Total funding target for all participants2021-12-31448,135
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-316,005
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 balance2021-12-316,005
Present value of excess contributions2021-12-31189,238
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-31199,268
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-31199,268
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 year2021-12-31206,049
Total employer contributions2021-12-31250,000
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 date2021-12-31239,944
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 cost2021-12-31143,556
Net shortfall amortization installment of oustanding balance2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-31113,610
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-31113,610
Contributions allocatedtoward minimum required contributions for current year2021-12-31239,944
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: SPECTRUM CARE MANAGEMENT AND COUNSELING LLC CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-31324,184
Acturial value of plan assets2020-12-31324,184
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 participants2020-12-3110
Total funding liabilities for active participants2020-12-31287,911
Total participant count2020-12-3110
Total funding target for all participants2020-12-31287,911
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 contributions2020-12-315,698
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-316,005
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-316,005
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 year2020-12-316,005
Total employer contributions2020-12-31300,000
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 date2020-12-31280,778
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 cost2020-12-31121,808
Total funding amount beforereflecting carryover/prefunding balances2020-12-3191,540
Additional cash requirement2020-12-3191,540
Contributions allocatedtoward minimum required contributions for current year2020-12-31280,778
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: SPECTRUM CARE MANAGEMENT AND COUNSELING LLC CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-31158,585
Acturial value of plan assets2019-12-31158,585
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 participants2019-12-31151,924
Total participant count2019-12-314
Total funding target for all participants2019-12-31151,924
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-310
Amount remaining of carryover balance2019-12-310
Amount remaining of prefunding balance2019-12-310
Present value of excess contributions2019-12-319,447
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-319,970
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-319,970
Reductions in caryover balances due to elections or deemed elections2019-12-310
Reductions in prefunding balances due to elections or deemed elections2019-12-319,970
Balance of carryovers at beginning of current year2019-12-310
Balance of prefunding at beginning of current year2019-12-310
Total employer contributions2019-12-31155,044
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 date2019-12-31144,586
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 cost2019-12-31145,549
Total funding amount beforereflecting carryover/prefunding balances2019-12-31138,888
Additional cash requirement2019-12-31138,888
Contributions allocatedtoward minimum required contributions for current year2019-12-31144,586
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: SPECTRUM CARE MANAGEMENT AND COUNSELING LLC CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-310
Acturial value of plan assets2018-12-310
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 target2018-12-310
Number of active participants2018-12-312
Total funding liabilities for active participants2018-12-310
Total participant count2018-12-312
Total funding target for all participants2018-12-310
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 contributions2018-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-310
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 contributions2018-12-31159,415
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 date2018-12-31150,245
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 cost2018-12-31140,798
Net shortfall amortization installment of oustanding balance2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31140,798
Additional cash requirement2018-12-31140,798
Contributions allocatedtoward minimum required contributions for current year2018-12-31150,245
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310

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