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DR. RICHARD S. HERMAN DEFINED BENEFIT PENSION PLAN 401k Plan overview

Plan NameDR. RICHARD S. HERMAN DEFINED BENEFIT PENSION PLAN
Plan identification number 001

DR. RICHARD S. HERMAN DEFINED BENEFIT PENSION PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • 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

DR. RICHARD S. HERMAN has sponsored the creation of one or more 401k plans.

Company Name:DR. RICHARD S. HERMAN
Employer identification number (EIN):352403727
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan DR. RICHARD S. HERMAN DEFINED BENEFIT PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012020-01-01
0012011-01-01SCOTT BOULAY2012-09-17
0012010-01-01SCOTT BOULAY2012-01-24

Plan Statistics for DR. RICHARD S. HERMAN DEFINED BENEFIT PENSION PLAN

401k plan membership statisitcs for DR. RICHARD S. HERMAN DEFINED BENEFIT PENSION PLAN

Measure Date Value
2020: DR. RICHARD S. HERMAN DEFINED BENEFIT PENSION PLAN 2020 401k membership
Market value of plan assets2020-12-311,758,098
Acturial value of plan assets2020-12-311,758,098
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 target2020-12-311,477,844
Number of active participants2020-12-311
Total funding liabilities for active participants2020-12-311,477,844
Total participant count2020-12-311
Total funding target for all participants2020-12-311,477,844
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-3148,990
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 balance2020-12-3148,990
Present value of excess contributions2020-12-311,916
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-311,988
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-311,988
Balance of carryovers at beginning of current year2020-12-310
Balance of prefunding at beginning of current year2020-12-3161,106
Total employer contributions2020-12-3148,000
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 date2020-12-3146,866
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 cost2020-12-3197,365
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 year2020-12-3146,866
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310

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