401k Plan data: KANSAS MEDICAL CLINIC, P.A. 401(K) PROFIT SHARING PLAN plan

KANSAS MEDICAL CLINIC, P.A. 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan Name	KANSAS MEDICAL CLINIC, P.A. 401(K) PROFIT SHARING PLAN
Plan identification number	001

KANSAS MEDICAL CLINIC, P.A. 401(K) PROFIT SHARING PLAN Benefits

401k Plan Type

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

401k Sponsoring company profile

KANSAS MEDICAL CLINIC, P.A. has sponsored the creation of one or more 401k plans.

Company Name: KANSAS MEDICAL CLINIC, P.A.

Employer identification number (EIN): 481203592

NAIC Classification: 621111
NAIC Description: Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan KANSAS MEDICAL CLINIC, P.A. 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
001 2023-01-01 SHEKHAR K. CHALLA, M.D. 2024-10-14
001 2022-01-01 SHEKHAR K. CHALLA, M.D. 2023-10-02
001 2021-01-01
001 2020-01-01
001 2019-01-01
001 2018-01-01
001 2017-01-01
001 2017-01-01
001 2016-01-01
001 2015-01-01
001 2014-01-01 SHEKHAR K. CHALLA, M.D. 2015-10-15
001 2013-01-01 SHEKHAR K. CHALLA, M.D. 2014-11-18
001 2012-01-01 SHEKHAR K. CHALLA, M.D. 2013-10-09
001 2011-01-01 SHEKHAR K. CHALLA, M.D. 2012-10-15
001 2010-01-01 SHEKHAR K. CHALLA, M.D. 2011-10-11

Plan Statistics for KANSAS MEDICAL CLINIC, P.A. 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for KANSAS MEDICAL CLINIC, P.A. 401(K) PROFIT SHARING PLAN

Measure Date Value
2023: KANSAS MEDICAL CLINIC, P.A. 401(K) PROFIT SHARING PLAN 2023 401k membership
Total participants, beginning-of-year 2023-01-01 134
Total number of active participants reported on line 7a of the Form 5500 2023-01-01 89
Number of retired or separated participants receiving benefits 2023-01-01 0
Number of other retired or separated participants entitled to future benefits 2023-01-01 57
Total of all active and inactive participants 2023-01-01 146
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2023-01-01 0
Total participants 2023-01-01 146
Number of participants with account balances 2023-01-01 146
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2023-01-01 7
2022: KANSAS MEDICAL CLINIC, P.A. 401(K) PROFIT SHARING PLAN 2022 401k membership
Total participants, beginning-of-year 2022-01-01 138
Total number of active participants reported on line 7a of the Form 5500 2022-01-01 79
Number of retired or separated participants receiving benefits 2022-01-01 0
Number of other retired or separated participants entitled to future benefits 2022-01-01 55
Total of all active and inactive participants 2022-01-01 134
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2022-01-01 0
Total participants 2022-01-01 134
Number of participants with account balances 2022-01-01 134
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2022-01-01 18

Measure	Date	Value
2023: KANSAS MEDICAL CLINIC, P.A. 401(K) PROFIT SHARING PLAN 2023 401k membership
Total participants, beginning-of-year	2023-01-01	134
Total number of active participants reported on line 7a of the Form 5500	2023-01-01	89
Number of retired or separated participants receiving benefits	2023-01-01	0
Number of other retired or separated participants entitled to future benefits	2023-01-01	57
Total of all active and inactive participants	2023-01-01	146
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2023-01-01	0
Total participants	2023-01-01	146
Number of participants with account balances	2023-01-01	146
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2023-01-01	7
2022: KANSAS MEDICAL CLINIC, P.A. 401(K) PROFIT SHARING PLAN 2022 401k membership
Total participants, beginning-of-year	2022-01-01	138
Total number of active participants reported on line 7a of the Form 5500	2022-01-01	79
Number of retired or separated participants receiving benefits	2022-01-01	0
Number of other retired or separated participants entitled to future benefits	2022-01-01	55
Total of all active and inactive participants	2022-01-01	134
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2022-01-01	0
Total participants	2022-01-01	134
Number of participants with account balances	2022-01-01	134
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2022-01-01	18

Financial Data on KANSAS MEDICAL CLINIC, P.A. 401(K) PROFIT SHARING PLAN

Measure	Date	Value
2023 : KANSAS MEDICAL CLINIC, P.A. 401(K) PROFIT SHARING PLAN 2023 401k financial data
Total unrealized appreciation/depreciation of assets	2023-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2023-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2023-12-31	$0
Total income from all sources (including contributions)	2023-12-31	$2,710,539
Total loss/gain on sale of assets	2023-12-31	$0
Total of all expenses incurred	2023-12-31	$113,412
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2023-12-31	$99,506
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2023-12-31	$959,072
Value of total assets at end of year	2023-12-31	$14,502,733
Value of total assets at beginning of year	2023-12-31	$11,905,606
Total of administrative expenses incurred including professional, contract, advisory and management fees	2023-12-31	$13,906
Total interest from all sources	2023-12-31	$708
Total dividends received (eg from common stock, registered investment company shares)	2023-12-31	$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2023-12-31	No
Was this plan covered by a fidelity bond	2023-12-31	Yes
Value of fidelity bond cover	2023-12-31	$1,000,000
If this is an individual account plan, was there a blackout period	2023-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2023-12-31	No
Contributions received from participants	2023-12-31	$522,391
Participant contributions at end of year	2023-12-31	$17,904
Participant contributions at beginning of year	2023-12-31	$9,471
Participant contributions at end of year	2023-12-31	$-10
Participant contributions at beginning of year	2023-12-31	$-10
Income. Received or receivable in cash from other sources (including rollovers)	2023-12-31	$126,365
Value of other receiveables (less allowance for doubtful accounts) at end of year	2023-12-31	$44
Value of other receiveables (less allowance for doubtful accounts) at beginning of year	2023-12-31	$0
Administrative expenses (other) incurred	2023-12-31	$13,906
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2023-12-31	No
Value of net income/loss	2023-12-31	$2,597,127
Value of net assets at end of year (total assets less liabilities)	2023-12-31	$14,502,733
Value of net assets at beginning of year (total assets less liabilities)	2023-12-31	$11,905,606
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2023-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2023-12-31	No
Were any leases to which the plan was party in default or uncollectible	2023-12-31	No
Value of interest in pooled separate accounts at end of year	2023-12-31	$13,301,881
Value of interest in pooled separate accounts at beginning of year	2023-12-31	$10,964,747
Interest on participant loans	2023-12-31	$708
Value of funds held in insurance company general accounts (unallocated contracts) at end of year	2023-12-31	$872,599
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year	2023-12-31	$669,997
Net investment gain/loss from pooled separate accounts	2023-12-31	$1,750,759
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2023-12-31	No
Was there a failure to transmit to the plan any participant contributions	2023-12-31	No
Has the plan failed to provide any benefit when due under the plan	2023-12-31	No
Contributions received in cash from employer	2023-12-31	$310,316
Employer contributions (assets) at end of year	2023-12-31	$310,315
Employer contributions (assets) at beginning of year	2023-12-31	$261,401
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2023-12-31	$99,506
Did the plan have assets held for investment	2023-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2023-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2023-12-31	No
Opinion of an independent qualified public accountant for this plan	2023-12-31	Unqualified
Accountancy firm name	2023-12-31	PICKETT, CHANEY & MCMULLEN LLP
Accountancy firm EIN	2023-12-31	481246310
2022 : KANSAS MEDICAL CLINIC, P.A. 401(K) PROFIT SHARING PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets	2022-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2022-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2022-12-31	$0
Total income from all sources (including contributions)	2022-12-31	$-1,943,493
Total loss/gain on sale of assets	2022-12-31	$0
Total of all expenses incurred	2022-12-31	$486,252
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2022-12-31	$471,913
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2022-12-31	$674,516
Value of total assets at end of year	2022-12-31	$11,905,606
Value of total assets at beginning of year	2022-12-31	$14,335,351
Total of administrative expenses incurred including professional, contract, advisory and management fees	2022-12-31	$14,339
Total interest from all sources	2022-12-31	$652
Total dividends received (eg from common stock, registered investment company shares)	2022-12-31	$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2022-12-31	No
Was this plan covered by a fidelity bond	2022-12-31	Yes
Value of fidelity bond cover	2022-12-31	$1,000,000
If this is an individual account plan, was there a blackout period	2022-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2022-12-31	No
Contributions received from participants	2022-12-31	$406,110
Participant contributions at end of year	2022-12-31	$9,471
Participant contributions at beginning of year	2022-12-31	$13,748
Participant contributions at end of year	2022-12-31	$-10
Participant contributions at beginning of year	2022-12-31	$9
Income. Received or receivable in cash from other sources (including rollovers)	2022-12-31	$1,711
Administrative expenses (other) incurred	2022-12-31	$14,339
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2022-12-31	No
Value of net income/loss	2022-12-31	$-2,429,745
Value of net assets at end of year (total assets less liabilities)	2022-12-31	$11,905,606
Value of net assets at beginning of year (total assets less liabilities)	2022-12-31	$14,335,351
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2022-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2022-12-31	No
Were any leases to which the plan was party in default or uncollectible	2022-12-31	No
Value of interest in pooled separate accounts at end of year	2022-12-31	$10,964,747
Value of interest in pooled separate accounts at beginning of year	2022-12-31	$13,085,406
Interest on participant loans	2022-12-31	$595
Interest earned on other investments	2022-12-31	$57
Value of funds held in insurance company general accounts (unallocated contracts) at end of year	2022-12-31	$669,997
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year	2022-12-31	$845,976
Net investment gain/loss from pooled separate accounts	2022-12-31	$-2,618,661
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2022-12-31	No
Was there a failure to transmit to the plan any participant contributions	2022-12-31	Yes
Has the plan failed to provide any benefit when due under the plan	2022-12-31	No
Contributions received in cash from employer	2022-12-31	$266,695
Employer contributions (assets) at end of year	2022-12-31	$261,401
Employer contributions (assets) at beginning of year	2022-12-31	$390,212
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2022-12-31	$471,913
Did the plan have assets held for investment	2022-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2022-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2022-12-31	No
Opinion of an independent qualified public accountant for this plan	2022-12-31	Unqualified
Accountancy firm name	2022-12-31	PICKETT, CHANEY & MCMULLEN LLP
Accountancy firm EIN	2022-12-31	481246310

Form 5500 Responses for KANSAS MEDICAL CLINIC, P.A. 401(K) PROFIT SHARING PLAN

2023: KANSAS MEDICAL CLINIC, P.A. 401(K) PROFIT SHARING PLAN 2023 form 5500 responses
2023-01-01	Type of plan entity	Single employer plan
2023-01-01	Submission has been amended	No
2023-01-01	This submission is the final filing	No
2023-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2023-01-01	Plan is a collectively bargained plan	No
2023-01-01	Plan funding arrangement – Insurance	Yes
2023-01-01	Plan funding arrangement – Trust	Yes
2023-01-01	Plan benefit arrangement – Insurance	Yes
2023-01-01	Plan benefit arrangement - Trust	Yes
2022: KANSAS MEDICAL CLINIC, P.A. 401(K) PROFIT SHARING PLAN 2022 form 5500 responses
2022-01-01	Type of plan entity	Single employer plan
2022-01-01	Submission has been amended	No
2022-01-01	This submission is the final filing	No
2022-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2022-01-01	Plan is a collectively bargained plan	No
2022-01-01	Plan funding arrangement – Insurance	Yes
2022-01-01	Plan funding arrangement – Trust	Yes
2022-01-01	Plan benefit arrangement – Insurance	Yes
2022-01-01	Plan benefit arrangement - Trust	Yes

Insurance Providers Used on plan

VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )

Policy contract number

818168

Policy instance

Insurance contract or identification number	818168
Number of Individuals Covered	130
Insurance policy start date	2023-01-01
Insurance policy end date	2023-12-31
Total amount of commissions paid to insurance broker	USD $31,559
Total amount of fees paid to insurance company	USD $0
Are there contracts with allocated funds for individual policies?	0
Are there contracts with allocated funds for group deferred annuity?	No
Are there contracts with allocated funds for types other than group deferred annuity or individual?	No
Contract purchased, in whole or in part, to distribute benefits from a terminating plan	No
Contracts With Unallocated Funds Deposit Administration	0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?	No
Are there contracts with unallocated funds for contracts of type guaranteed investment?	No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?	No
Health Insurance Welfare Benefit	No
Dental Insurance Welfare Benefit	No
Vision Insurance Welfare Benefit	No
Life Insurance Welfare Benefit	No
Temporary Disability Insurance Welfare Benefit	No
Long Term Disability Insurance Welfare Benefit	No
Unemployment Insurance Welfare Benefit	No
Were dividends or retroactive rate refunds paid in cash?	No
Were dividends or retroactive rate refunds paid as a credit?	No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No

VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )

Policy contract number

818168

Policy instance

Insurance contract or identification number	818168
Number of Individuals Covered	112
Insurance policy start date	2022-01-01
Insurance policy end date	2022-12-31
Total amount of commissions paid to insurance broker	USD $30,028
Total amount of fees paid to insurance company	USD $0
Are there contracts with allocated funds for individual policies?	0
Are there contracts with allocated funds for group deferred annuity?	No
Are there contracts with allocated funds for types other than group deferred annuity or individual?	No
Contract purchased, in whole or in part, to distribute benefits from a terminating plan	No
Contracts With Unallocated Funds Deposit Administration	0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?	No
Are there contracts with unallocated funds for contracts of type guaranteed investment?	No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?	No
Health Insurance Welfare Benefit	No
Dental Insurance Welfare Benefit	No
Vision Insurance Welfare Benefit	No
Life Insurance Welfare Benefit	No
Temporary Disability Insurance Welfare Benefit	No
Long Term Disability Insurance Welfare Benefit	No
Unemployment Insurance Welfare Benefit	No
Were dividends or retroactive rate refunds paid in cash?	No
Were dividends or retroactive rate refunds paid as a credit?	No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No
Commission paid to Insurance Broker	USD $30,028
Amount paid for insurance broker fees	0
Additional information about fees paid to insurance broker	NA
Insurance broker organization code?	3

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See full terms and conditions

Company Name:	KANSAS MEDICAL CLINIC, P.A.
Employer identification number (EIN):	481203592
NAIC Classification:	621111
NAIC Description:	Offices of Physicians (except Mental Health Specialists)

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed
001	2023-01-01	SHEKHAR K. CHALLA, M.D.	2024-10-14
001	2022-01-01	SHEKHAR K. CHALLA, M.D.	2023-10-02
001	2021-01-01
001	2020-01-01
001	2019-01-01
001	2018-01-01
001	2017-01-01
001	2017-01-01
001	2016-01-01
001	2015-01-01
001	2014-01-01	SHEKHAR K. CHALLA, M.D.	2015-10-15
001	2013-01-01	SHEKHAR K. CHALLA, M.D.	2014-11-18
001	2012-01-01	SHEKHAR K. CHALLA, M.D.	2013-10-09
001	2011-01-01	SHEKHAR K. CHALLA, M.D.	2012-10-15
001	2010-01-01	SHEKHAR K. CHALLA, M.D.	2011-10-11