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THE MEDICAL INSTITUTE, LLC RETIREMENT PLAN 401k Plan overview

Plan NameTHE MEDICAL INSTITUTE, LLC RETIREMENT PLAN
Plan identification number 001

THE MEDICAL INSTITUTE, LLC RETIREMENT PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • 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

THE MEDICAL INSTITUTE, LLC has sponsored the creation of one or more 401k plans.

Company Name:THE MEDICAL INSTITUTE, LLC
Employer identification number (EIN):473769465
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE MEDICAL INSTITUTE, LLC RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012015-07-01

Plan Statistics for THE MEDICAL INSTITUTE, LLC RETIREMENT PLAN

401k plan membership statisitcs for THE MEDICAL INSTITUTE, LLC RETIREMENT PLAN

Measure Date Value
2015: THE MEDICAL INSTITUTE, LLC RETIREMENT PLAN 2015 401k membership
Total participants, beginning-of-year2015-07-01158
Total number of active participants reported on line 7a of the Form 55002015-07-01105
Number of retired or separated participants receiving benefits2015-07-010
Number of other retired or separated participants entitled to future benefits2015-07-0128
Total of all active and inactive participants2015-07-01133
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-07-010
Total participants2015-07-01133
Number of participants with account balances2015-07-01105
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-07-0129

Financial Data on THE MEDICAL INSTITUTE, LLC RETIREMENT PLAN

Measure Date Value
2015 : THE MEDICAL INSTITUTE, LLC RETIREMENT PLAN 2015 401k financial data
Total unrealized appreciation/depreciation of assets2015-12-31$0
Total transfer of assets to this plan2015-12-31$1,042,794
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-12-31$0
Total income from all sources (including contributions)2015-12-31$200,036
Total loss/gain on sale of assets2015-12-31$0
Total of all expenses incurred2015-12-31$277,294
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2015-12-31$243,743
Value of total corrective distributions2015-12-31$20,626
Total contributions o plan (from employers,participants, others, non cash contrinutions)2015-12-31$192,505
Value of total assets at end of year2015-12-31$965,536
Value of total assets at beginning of year2015-12-31$0
Total of administrative expenses incurred including professional, contract, advisory and management fees2015-12-31$12,925
Total interest from all sources2015-12-31$1,168
Total dividends received (eg from common stock, registered investment company shares)2015-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2015-12-31No
Administrative expenses professional fees incurred2015-12-31$12,925
Was this plan covered by a fidelity bond2015-12-31Yes
Value of fidelity bond cover2015-12-31$100,000
If this is an individual account plan, was there a blackout period2015-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2015-12-31$0
Were there any nonexempt tranactions with any party-in-interest2015-12-31No
Contributions received from participants2015-12-31$112,624
Participant contributions at end of year2015-12-31$39,776
Participant contributions at beginning of year2015-12-31$0
Participant contributions at end of year2015-12-31$11,331
Participant contributions at beginning of year2015-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2015-12-31$676
Value of other receiveables (less allowance for doubtful accounts) at end of year2015-12-31$438
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2015-12-31$0
Other income not declared elsewhere2015-12-31$869
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-31No
Value of net income/loss2015-12-31$-77,258
Value of net assets at end of year (total assets less liabilities)2015-12-31$965,536
Value of net assets at beginning of year (total assets less liabilities)2015-12-31$0
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2015-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2015-12-31No
Were any leases to which the plan was party in default or uncollectible2015-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2015-12-31$899,356
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2015-12-31$0
Income. Interest from loans (other than to participants)2015-12-31$1,168
Net investment gain/loss from registered investment companies (e.g. mutual funds)2015-12-31$5,494
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2015-12-31No
Was there a failure to transmit to the plan any participant contributions2015-12-31Yes
Has the plan failed to provide any benefit when due under the plan2015-12-31No
Contributions received in cash from employer2015-12-31$79,205
Employer contributions (assets) at end of year2015-12-31$14,635
Employer contributions (assets) at beginning of year2015-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2015-12-31$243,743
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32015-12-31No
Did the plan have assets held for investment2015-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2015-12-31No

Form 5500 Responses for THE MEDICAL INSTITUTE, LLC RETIREMENT PLAN

2015: THE MEDICAL INSTITUTE, LLC RETIREMENT PLAN 2015 form 5500 responses
2015-07-01Type of plan entitySingle employer plan
2015-07-01First time form 5500 has been submittedYes
2015-07-01Submission has been amendedNo
2015-07-01This submission is the final filingNo
2015-07-01This return/report is a short plan year return/report (less than 12 months)Yes
2015-07-01Plan is a collectively bargained planNo
2015-07-01Plan funding arrangement – TrustYes
2015-07-01Plan benefit arrangement - TrustYes

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