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PREMIER MEDICAL CARE, P.C. CASH BALANCE PENSION PLAN 401k Plan overview

Plan NamePREMIER MEDICAL CARE, P.C. CASH BALANCE PENSION PLAN
Plan identification number 002

PREMIER MEDICAL CARE, P.C. CASH BALANCE PENSION 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).
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).

401k Sponsoring company profile

PREMIER MEDICAL CARE, P.C. has sponsored the creation of one or more 401k plans.

Company Name:PREMIER MEDICAL CARE, P.C.
Employer identification number (EIN):383250232
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PREMIER MEDICAL CARE, P.C. CASH BALANCE PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022017-01-01JOHN BRACK2017-05-30
0022016-01-01JOHN BRACK2017-05-30
0022015-01-01JOHN BRACK2016-10-06
0022014-01-01JOHN BRACK2015-06-15
0022013-01-01JOHN BRACK2014-07-23
0022012-01-01JOHN BRACK2013-07-19
0022011-01-01JOHN BRACK2012-10-09
0022010-01-01JOHN BRACK2011-08-24

Plan Statistics for PREMIER MEDICAL CARE, P.C. CASH BALANCE PENSION PLAN

401k plan membership statisitcs for PREMIER MEDICAL CARE, P.C. CASH BALANCE PENSION PLAN

Measure Date Value
2016: PREMIER MEDICAL CARE, P.C. CASH BALANCE PENSION PLAN 2016 401k membership
Market value of plan assets2016-12-313,643,064
Acturial value of plan assets2016-12-313,643,064
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-314
Fundng target for terminated vested participants2016-12-31428,997
Active participant vested funding target2016-12-312,091,327
Number of active participants2016-12-3128
Total funding liabilities for active participants2016-12-312,091,327
Total participant count2016-12-3132
Total funding target for all participants2016-12-312,520,324
Balance at beginning of prior year after applicable adjustments2016-12-310
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 balance2016-12-310
Amount remaining of prefunding balance2016-12-310
Present value of excess contributions2016-12-311,167,844
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-311,243,170
Balance of carryovers at beginning of current year2016-12-310
Balance of prefunding at beginning of current year2016-12-310
Total employer contributions2016-12-3179,000
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 date2016-12-3173,628
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 cost2016-12-310
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-310
Additional cash requirement2016-12-310
Contributions allocatedtoward minimum required contributions for current year2016-12-3173,628
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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