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GARDEN STATE GASTROENTEROLOGY, P.C. CASH BALANCE PLAN 401k Plan overview

Plan NameGARDEN STATE GASTROENTEROLOGY, P.C. CASH BALANCE PLAN
Plan identification number 002

GARDEN STATE GASTROENTEROLOGY, P.C. 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).
  • 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

GARDEN STATE GASTROENTEROLOGY, P.C. . has sponsored the creation of one or more 401k plans.

Company Name:GARDEN STATE GASTROENTEROLOGY, P.C. .
Employer identification number (EIN):331081346
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan GARDEN STATE GASTROENTEROLOGY, P.C. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01DR. SANJEEV NAYYAR2024-09-25
0022022-01-01DR. SANJEEV NAYYAR2023-09-19
0022021-01-01DR. SANJEEV NAYYAR2022-08-26
0022020-01-01
0022019-01-01
0022018-01-01

Plan Statistics for GARDEN STATE GASTROENTEROLOGY, P.C. CASH BALANCE PLAN

401k plan membership statisitcs for GARDEN STATE GASTROENTEROLOGY, P.C. CASH BALANCE PLAN

Measure Date Value
2022: GARDEN STATE GASTROENTEROLOGY, P.C. CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-31314,666
Acturial value of plan assets2022-12-31314,666
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-312
Fundng target for terminated vested participants2022-12-31559
Active participant vested funding target2022-12-31305,101
Number of active participants2022-12-318
Total funding liabilities for active participants2022-12-31305,615
Total participant count2022-12-3110
Total funding target for all participants2022-12-31306,174
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-311,385
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 balance2022-12-311,385
Present value of excess contributions2022-12-315,232
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-315,513
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-315,513
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 year2022-12-317,018
Total employer contributions2022-12-3173,488
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 date2022-12-3167,599
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 cost2022-12-3170,398
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-3168,924
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-311,325
Additional cash requirement2022-12-3167,599
Contributions allocatedtoward minimum required contributions for current year2022-12-3167,599
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: GARDEN STATE GASTROENTEROLOGY, P.C. CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-31224,718
Acturial value of plan assets2021-12-31224,718
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-312
Fundng target for terminated vested participants2021-12-31507
Active participant vested funding target2021-12-31215,735
Number of active participants2021-12-318
Total funding liabilities for active participants2021-12-31215,735
Total participant count2021-12-3110
Total funding target for all participants2021-12-31216,242
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-311,093
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 balance2021-12-311,093
Present value of excess contributions2021-12-31133
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-31140
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-31140
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 year2021-12-311,385
Total employer contributions2021-12-3174,344
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 date2021-12-3166,048
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 cost2021-12-3167,907
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-3160,816
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-3160,816
Contributions allocatedtoward minimum required contributions for current year2021-12-3166,048
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: GARDEN STATE GASTROENTEROLOGY, P.C. CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-31138,264
Acturial value of plan assets2020-12-31138,264
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-311
Fundng target for terminated vested participants2020-12-31235
Active participant vested funding target2020-12-31619
Number of active participants2020-12-318
Total funding liabilities for active participants2020-12-31139,827
Total participant count2020-12-319
Total funding target for all participants2020-12-31140,062
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-31658
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 balance2020-12-31658
Present value of excess contributions2020-12-31376
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-31396
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-31396
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 year2020-12-311,093
Total employer contributions2020-12-3172,654
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 date2020-12-3165,297
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 cost2020-12-3164,673
Net shortfall amortization installment of oustanding balance2020-12-312,891
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-3165,164
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-3165,164
Contributions allocatedtoward minimum required contributions for current year2020-12-3165,297
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
Total participants, beginning-of-year2020-01-019
Total number of active participants reported on line 7a of the Form 55002020-01-017
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-012
Total of all active and inactive participants2020-01-019
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-019
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: GARDEN STATE GASTROENTEROLOGY, P.C. CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-3166,662
Acturial value of plan assets2019-12-3166,662
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-311
Fundng target for terminated vested participants2019-12-31219
Active participant vested funding target2019-12-310
Number of active participants2019-12-319
Total funding liabilities for active participants2019-12-3166,966
Total participant count2019-12-3110
Total funding target for all participants2019-12-3167,185
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 contributions2019-12-31624
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-31658
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-31658
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 year2019-12-31658
Total employer contributions2019-12-3169,789
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 date2019-12-3164,345
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 cost2019-12-3163,777
Net shortfall amortization installment of oustanding balance2019-12-311,181
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-3163,969
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-3163,969
Contributions allocatedtoward minimum required contributions for current year2019-12-3164,345
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
Total participants, beginning-of-year2019-01-019
Total number of active participants reported on line 7a of the Form 55002019-01-018
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 participants2019-01-019
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-019
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: GARDEN STATE GASTROENTEROLOGY, P.C. 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 participants2018-12-316
Total funding liabilities for active participants2018-12-310
Total participant count2018-12-316
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 contributions2018-12-3169,000
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 date2018-12-3163,174
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 cost2018-12-3162,550
Net shortfall amortization installment of oustanding balance2018-12-310
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-3162,550
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-3162,550
Contributions allocatedtoward minimum required contributions for current year2018-12-3163,174
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
Total participants, beginning-of-year2018-01-015
Total number of active participants reported on line 7a of the Form 55002018-01-016
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-011
Total of all active and inactive participants2018-01-017
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-017
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010

Financial Data on GARDEN STATE GASTROENTEROLOGY, P.C. CASH BALANCE PLAN

Measure Date Value
2020 : GARDEN STATE GASTROENTEROLOGY, P.C. CASH BALANCE 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$87,346
Expenses. Total of all expenses incurred2020-12-31$580
Benefits paid (including direct rollovers)2020-12-31$0
Total plan assets at end of year2020-12-31$227,032
Total plan assets at beginning of year2020-12-31$140,266
Value of fidelity bond covering the plan2020-12-31$250,000
Total contributions received or receivable from participants2020-12-31$0
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$14,692
Noncash contributions received2020-12-31$0
Net income (gross income less expenses)2020-12-31$86,766
Net plan assets at end of year (total assets less liabilities)2020-12-31$227,032
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$140,266
Total contributions received or receivable from employer(s)2020-12-31$72,654
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$580
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
2019 : GARDEN STATE GASTROENTEROLOGY, P.C. CASH BALANCE 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$71,357
Expenses. Total of all expenses incurred2019-12-31$91
Benefits paid (including direct rollovers)2019-12-31$0
Total plan assets at end of year2019-12-31$140,266
Total plan assets at beginning of year2019-12-31$69,000
Total contributions received or receivable from participants2019-12-31$0
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$1,568
Noncash contributions received2019-12-31$0
Net income (gross income less expenses)2019-12-31$71,266
Net plan assets at end of year (total assets less liabilities)2019-12-31$140,266
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$69,000
Total contributions received or receivable from employer(s)2019-12-31$69,789
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$91
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
2018 : GARDEN STATE GASTROENTEROLOGY, P.C. CASH BALANCE 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$69,000
Expenses. Total of all expenses incurred2018-12-31$0
Benefits paid (including direct rollovers)2018-12-31$0
Total plan assets at end of year2018-12-31$69,000
Total plan assets at beginning of year2018-12-31$0
Total contributions received or receivable from participants2018-12-31$0
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$0
Noncash contributions received2018-12-31$0
Net income (gross income less expenses)2018-12-31$69,000
Net plan assets at end of year (total assets less liabilities)2018-12-31$69,000
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$0
Total contributions received or receivable from employer(s)2018-12-31$69,000
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$0

Form 5500 Responses for GARDEN STATE GASTROENTEROLOGY, P.C. CASH BALANCE PLAN

2020: GARDEN STATE GASTROENTEROLOGY, P.C. CASH BALANCE 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: GARDEN STATE GASTROENTEROLOGY, P.C. CASH BALANCE 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: GARDEN STATE GASTROENTEROLOGY, P.C. CASH BALANCE PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01First time form 5500 has been submittedYes
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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