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DRS. HILL & THOMAS CASH BALANCE PLAN 401k Plan overview

Plan NameDRS. HILL & THOMAS CASH BALANCE PLAN
Plan identification number 046

DRS. HILL & THOMAS 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).
  • 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).

401k Sponsoring company profile

DRS. HILL & THOMAS COMPANY has sponsored the creation of one or more 401k plans.

Company Name:DRS. HILL & THOMAS COMPANY
Employer identification number (EIN):340926955
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan DRS. HILL & THOMAS CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0462024-01-01JEFFREY KAMPMAN2024-02-14
0462023-01-01JEFFREY KAMPMAN2024-02-14
0462022-01-01JEFFREY KAMPMAN2023-04-05

Plan Statistics for DRS. HILL & THOMAS CASH BALANCE PLAN

401k plan membership statisitcs for DRS. HILL & THOMAS CASH BALANCE PLAN

Measure Date Value
2022: DRS. HILL & THOMAS CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-310
Acturial value of plan assets2022-12-310
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 target2022-12-310
Number of active participants2022-12-317
Total funding liabilities for active participants2022-12-310
Total participant count2022-12-317
Total funding target for all participants2022-12-310
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-310
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 balance2022-12-310
Present value of excess contributions2022-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-310
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 year2022-12-310
Total employer contributions2022-12-31443,500
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 date2022-12-31452,145
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 cost2022-12-31375,608
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-31375,608
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-31375,608
Contributions allocatedtoward minimum required contributions for current year2022-12-31452,145
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310

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