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COASTAL HEARING CENTER, INC. CASH BALANCE PLAN 401k Plan overview

Plan NameCOASTAL HEARING CENTER, INC. CASH BALANCE PLAN
Plan identification number 002

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

401k Sponsoring company profile

COASTAL HEARING CENTER, INC. has sponsored the creation of one or more 401k plans.

Company Name:COASTAL HEARING CENTER, INC.
Employer identification number (EIN):463739932
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 COASTAL HEARING CENTER, INC. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022020-01-01RICHARD STEIGHNER2020-11-13
0022019-01-01RICHARD STEIGHNER2020-10-15
0022018-01-01RICHARD STEIGHNER2019-10-14
0022017-01-01RICHARD STEIGHNER2018-10-01
0022016-01-01RICHARD STEIGHNER2017-10-03
0022015-01-01RICHARD STEIGHNER2016-08-04

Plan Statistics for COASTAL HEARING CENTER, INC. CASH BALANCE PLAN

401k plan membership statisitcs for COASTAL HEARING CENTER, INC. CASH BALANCE PLAN

Measure Date Value
2019: COASTAL HEARING CENTER, INC. CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-31174,792
Acturial value of plan assets2019-12-31174,792
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-312
Fundng target for terminated vested participants2019-12-31169,246
Active participant vested funding target2019-12-310
Number of active participants2019-12-310
Total funding liabilities for active participants2019-12-310
Total participant count2019-12-312
Total funding target for all participants2019-12-31169,246
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 contributions2019-12-3121
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-3121
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 contributions2019-12-3139,000
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 date2019-12-3136,836
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 cost2019-12-3141,550
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-3136,004
Additional cash requirement2019-12-3136,004
Contributions allocatedtoward minimum required contributions for current year2019-12-3136,836
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: COASTAL HEARING CENTER, INC. CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-31107,833
Acturial value of plan assets2018-12-31107,833
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-311
Fundng target for terminated vested participants2018-12-311,919
Active participant vested funding target2018-12-31112,999
Number of active participants2018-12-312
Total funding liabilities for active participants2018-12-31112,999
Total participant count2018-12-313
Total funding target for all participants2018-12-31114,918
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 contributions2018-12-313,802
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-313,802
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 contributions2018-12-3153,309
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 date2018-12-3151,532
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 cost2018-12-3150,354
Net shortfall amortization installment of oustanding balance2018-12-317,085
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-3151,511
Additional cash requirement2018-12-3151,511
Contributions allocatedtoward minimum required contributions for current year2018-12-3151,532
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: COASTAL HEARING CENTER, INC. CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-12-31152,987
Acturial value of plan assets2017-12-31152,987
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-311
Fundng target for terminated vested participants2017-12-311,751
Active participant vested funding target2017-12-31147,565
Number of active participants2017-12-312
Total funding liabilities for active participants2017-12-31147,565
Total participant count2017-12-313
Total funding target for all participants2017-12-31149,316
Balance at beginning of prior year after applicable adjustments2017-12-310
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 balance2017-12-310
Amount remaining of prefunding balance2017-12-310
Present value of excess contributions2017-12-3162
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3162
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 elections2017-12-310
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 contributions2017-12-3145,000
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 date2017-12-3143,700
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 cost2017-12-3143,569
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-3139,898
Additional cash requirement2017-12-3139,898
Contributions allocatedtoward minimum required contributions for current year2017-12-3143,700
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: COASTAL HEARING CENTER, INC. CASH BALANCE PLAN 2016 401k membership
Market value of plan assets2016-12-3179,337
Acturial value of plan assets2016-12-3179,337
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-310
Fundng target for terminated vested participants2016-12-310
Active participant vested funding target2016-12-310
Number of active participants2016-12-312
Total funding liabilities for active participants2016-12-3176,907
Total participant count2016-12-312
Total funding target for all participants2016-12-3176,907
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 contributions2016-12-311,488
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-311,488
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 year2016-12-310
Balance of prefunding at beginning of current year2016-12-310
Total employer contributions2016-12-3163,104
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 date2016-12-3161,257
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 cost2016-12-3163,626
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-3161,195
Additional cash requirement2016-12-3161,195
Contributions allocatedtoward minimum required contributions for current year2016-12-3161,257
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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