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DIGESTIVE DISEASE CONSULTANTS OF MEDINA, INC. CASH BALANCE PLAN 401k Plan overview

Plan NameDIGESTIVE DISEASE CONSULTANTS OF MEDINA, INC. CASH BALANCE PLAN
Plan identification number 003

DIGESTIVE DISEASE CONSULTANTS OF MEDINA, INC. 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 covered by PBGC that was terminated and closed out for PBGC purposes - Before the end of the plan year (or a prior plan year), (1) the plan terminated in a standard (or distress) termination and completed the distribution of plan assets in satisfaction of all benefit liabilities (or all ERISA Title IV benefits for distress termination); or (2) a trustee was appointed for a terminated plan pursuant to ERISA section 4042.
  • 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

DIGESTIVE DISEASE CONSULTANTS OF MEDINA, INC. has sponsored the creation of one or more 401k plans.

Company Name:DIGESTIVE DISEASE CONSULTANTS OF MEDINA, INC.
Employer identification number (EIN):341634391
NAIC Classification:621491
NAIC Description:HMO Medical Centers

Additional information about DIGESTIVE DISEASE CONSULTANTS OF MEDINA, INC.

Jurisdiction of Incorporation: Ohio Secretary of State Business Services Division
Incorporation Date: 1990-01-16
Company Identification Number: 764675
Legal Registered Office Address: 1299 INDUSTRIAL PARKWAY NORTH
SUITE 110
BRUNSWICK
United States of America (USA)
44212

More information about DIGESTIVE DISEASE CONSULTANTS OF MEDINA, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan DIGESTIVE DISEASE CONSULTANTS OF MEDINA, INC. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032022-01-01
0032021-01-01
0032020-01-01
0032019-01-01
0032018-01-01
0032017-01-01BIPIN SHARMA2018-09-27
0032016-01-01BIPIN SHARMA2017-10-02
0032015-01-01BIPIN SHARMA2016-10-04
0032014-01-01BIPIN SHARMA2015-09-28
0032013-01-01BIPIN SHARMA2014-09-23
0032012-01-01BIPIN SHARMA2013-09-11
0032011-01-01BIPIN SHARMA2012-09-18
0032010-01-01BIPIN SHARMA2011-10-10

Plan Statistics for DIGESTIVE DISEASE CONSULTANTS OF MEDINA, INC. CASH BALANCE PLAN

401k plan membership statisitcs for DIGESTIVE DISEASE CONSULTANTS OF MEDINA, INC. CASH BALANCE PLAN

Measure Date Value
2022: DIGESTIVE DISEASE CONSULTANTS OF MEDINA, INC. CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-318,418,261
Acturial value of plan assets2022-12-318,418,261
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-3112
Fundng target for terminated vested participants2022-12-3198,155
Active participant vested funding target2022-12-316,977,983
Number of active participants2022-12-3138
Total funding liabilities for active participants2022-12-316,984,856
Total participant count2022-12-3150
Total funding target for all participants2022-12-317,083,011
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 contributions2022-12-310
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 date2022-12-310
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 cost2022-12-31665,356
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-310
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-310
Contributions allocatedtoward minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: DIGESTIVE DISEASE CONSULTANTS OF MEDINA, INC. CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-319,292,002
Acturial value of plan assets2021-12-319,292,002
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-3112
Fundng target for terminated vested participants2021-12-3188,727
Active participant vested funding target2021-12-318,350,719
Number of active participants2021-12-3140
Total funding liabilities for active participants2021-12-318,352,914
Total participant count2021-12-3152
Total funding target for all participants2021-12-318,441,641
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-310
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 balance2021-12-310
Present value of excess contributions2021-12-31612,465
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-31644,742
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-310
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 year2021-12-310
Total employer contributions2021-12-310
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 date2021-12-310
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 cost2021-12-31673,350
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-310
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-310
Contributions allocatedtoward minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: DIGESTIVE DISEASE CONSULTANTS OF MEDINA, INC. CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-318,154,939
Acturial value of plan assets2020-12-318,154,939
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-3110
Fundng target for terminated vested participants2020-12-3180,513
Active participant vested funding target2020-12-317,059,649
Number of active participants2020-12-3138
Total funding liabilities for active participants2020-12-317,060,696
Total participant count2020-12-3148
Total funding target for all participants2020-12-317,141,209
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 contributions2020-12-31435,965
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-31459,289
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 contributions2020-12-31667,974
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 date2020-12-31612,465
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 cost2020-12-31623,107
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 year2020-12-31612,465
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: DIGESTIVE DISEASE CONSULTANTS OF MEDINA, INC. CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-316,626,705
Acturial value of plan assets2019-12-316,626,705
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-317
Fundng target for terminated vested participants2019-12-3143,791
Active participant vested funding target2019-12-316,152,867
Number of active participants2019-12-3139
Total funding liabilities for active participants2019-12-316,154,263
Total participant count2019-12-3146
Total funding target for all participants2019-12-316,198,054
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 contributions2019-12-31542,055
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-31571,705
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 contributions2019-12-31604,343
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 date2019-12-31553,806
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 cost2019-12-31546,492
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31117,841
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-31117,841
Contributions allocatedtoward minimum required contributions for current year2019-12-31553,806
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: DIGESTIVE DISEASE CONSULTANTS OF MEDINA, INC. CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-316,553,201
Acturial value of plan assets2018-12-316,553,201
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-315
Fundng target for terminated vested participants2018-12-3125,837
Active participant vested funding target2018-12-315,334,893
Number of active participants2018-12-3138
Total funding liabilities for active participants2018-12-315,339,966
Total participant count2018-12-3143
Total funding target for all participants2018-12-315,365,803
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 contributions2018-12-31528,569
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-31558,222
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 contributions2018-12-31591,527
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 date2018-12-31542,055
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 cost2018-12-31522,867
Net shortfall amortization installment of oustanding balance2018-12-310
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-310
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-310
Contributions allocatedtoward minimum required contributions for current year2018-12-31542,055
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: DIGESTIVE DISEASE CONSULTANTS OF MEDINA, INC. CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-12-315,346,002
Acturial value of plan assets2017-12-315,346,002
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-317
Fundng target for terminated vested participants2017-12-3165,709
Active participant vested funding target2017-12-314,484,468
Number of active participants2017-12-3138
Total funding liabilities for active participants2017-12-314,486,083
Total participant count2017-12-3145
Total funding target for all participants2017-12-314,551,792
Balance at beginning of prior year after applicable adjustments2017-12-31147,772
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 balance2017-12-31147,772
Amount remaining of prefunding balance2017-12-310
Present value of excess contributions2017-12-31408,335
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-31433,693
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 elections2017-12-31160,185
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 contributions2017-12-31579,184
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 date2017-12-31528,569
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 cost2017-12-31409,840
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-310
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-310
Contributions allocatedtoward minimum required contributions for current year2017-12-31528,569
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: DIGESTIVE DISEASE CONSULTANTS OF MEDINA, INC. CASH BALANCE PLAN 2016 401k membership
Market value of plan assets2016-12-314,578,063
Acturial value of plan assets2016-12-314,578,063
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-316
Fundng target for terminated vested participants2016-12-3120,099
Active participant vested funding target2016-12-313,827,083
Number of active participants2016-12-3137
Total funding liabilities for active participants2016-12-313,831,297
Total participant count2016-12-3143
Total funding target for all participants2016-12-313,851,396
Balance at beginning of prior year after applicable adjustments2016-12-31151,390
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 balance2016-12-31151,390
Amount remaining of prefunding balance2016-12-310
Present value of excess contributions2016-12-31385,652
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-31410,411
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 year2016-12-31147,772
Balance of prefunding at beginning of current year2016-12-310
Total employer contributions2016-12-31452,305
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 date2016-12-31408,335
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 cost2016-12-31375,245
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-310
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-310
Contributions allocatedtoward minimum required contributions for current year2016-12-31408,335
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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