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PHYSICAL THERAPY CENTER CASH BALANCE PLAN 401k Plan overview

Plan NamePHYSICAL THERAPY CENTER CASH BALANCE PLAN
Plan identification number 002

PHYSICAL THERAPY CENTER 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).
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

THREE RIVERS PHYSICAL THERAPY, INC. has sponsored the creation of one or more 401k plans.

Company Name:THREE RIVERS PHYSICAL THERAPY, INC.
Employer identification number (EIN):455169010
NAIC Classification:621340
NAIC Description:Offices of Physical, Occupational and Speech Therapists, and Audiologists

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PHYSICAL THERAPY CENTER CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01
0022022-01-01
0022021-01-01NORMAN FASSE2022-09-28

Plan Statistics for PHYSICAL THERAPY CENTER CASH BALANCE PLAN

401k plan membership statisitcs for PHYSICAL THERAPY CENTER CASH BALANCE PLAN

Measure Date Value
2022: PHYSICAL THERAPY CENTER CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-311,275,622
Acturial value of plan assets2022-12-311,275,622
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-3110
Fundng target for terminated vested participants2022-12-3121,543
Active participant vested funding target2022-12-311,177,351
Number of active participants2022-12-3110
Total funding liabilities for active participants2022-12-311,177,351
Total participant count2022-12-3120
Total funding target for all participants2022-12-311,198,894
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 contributions2022-12-31261,510
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31261,510
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 contributions2022-12-3193,500
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 date2022-12-3190,223
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 cost2022-12-31165,235
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-3188,507
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-3188,507
Contributions allocatedtoward minimum required contributions for current year2022-12-3190,223
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: PHYSICAL THERAPY CENTER CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-311,148,735
Acturial value of plan assets2021-12-311,148,735
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-315
Fundng target for terminated vested participants2021-12-319,541
Active participant vested funding target2021-12-31925,934
Number of active participants2021-12-3115
Total funding liabilities for active participants2021-12-31926,393
Total participant count2021-12-3120
Total funding target for all participants2021-12-31935,934
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 contributions2021-12-31148,806
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-31148,806
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 contributions2021-12-31270,000
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 date2021-12-31261,510
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 cost2021-12-31193,843
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 year2021-12-31261,510
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310

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