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PALM BEACH SPORTSMEDICINE AND ORTHOPEADIC CENTER P.A. PROFIT SHARING PLAN 401k Plan overview

Plan NamePALM BEACH SPORTSMEDICINE AND ORTHOPEADIC CENTER P.A. PROFIT SHARING PLAN
Plan identification number 001

PALM BEACH SPORTSMEDICINE AND ORTHOPEADIC CENTER P.A. PROFIT SHARING 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.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • 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.
  • Prototype plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion or notification letter; and under which a seperate funding medium (for example, a seperate trust or custodial account) is established for the use of each adopting employer.

401k Sponsoring company profile

PALM BEACH SPORTSMEDICINE AND ORTHOPEADIC CENTER P.A. has sponsored the creation of one or more 401k plans.

Company Name:PALM BEACH SPORTSMEDICINE AND ORTHOPEADIC CENTER P.A.
Employer identification number (EIN):592686544
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PALM BEACH SPORTSMEDICINE AND ORTHOPEADIC CENTER P.A. PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01TERRI YUNGHANS2024-09-26
0012022-01-01GARY N. ACKERMAN2023-09-13
0012021-01-01GARY ACKERMAN2022-10-14
0012020-01-01GARY ACKERMAN2021-09-02
0012019-01-01
0012018-01-01
0012017-01-01EVERETT STONE2018-10-14
0012016-01-01EVERETT STONE2018-01-10
0012015-01-01EVERETT STONE2016-10-17
0012014-01-01EVERETT STONE2015-10-15
0012013-01-01EVERETT STONE2014-10-15
0012012-01-01EVERETT STONE2013-10-15
0012011-01-01EVERETT STONE
0012009-01-01EVERETT STONE

Plan Statistics for PALM BEACH SPORTSMEDICINE AND ORTHOPEADIC CENTER P.A. PROFIT SHARING PLAN

401k plan membership statisitcs for PALM BEACH SPORTSMEDICINE AND ORTHOPEADIC CENTER P.A. PROFIT SHARING PLAN

Measure Date Value
2011: PALM BEACH SPORTSMEDICINE AND ORTHOPEADIC CENTER P.A. PROFIT SHARING PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-018
Total number of active participants reported on line 7a of the Form 55002011-01-0111
Total of all active and inactive participants2011-01-0111
Total participants2011-01-0111
Number of participants with account balances2011-01-0111
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-010
2009: PALM BEACH SPORTSMEDICINE AND ORTHOPEADIC CENTER P.A. PROFIT SHARING PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-018
Total number of active participants reported on line 7a of the Form 55002009-01-018
Total of all active and inactive participants2009-01-018
Total participants2009-01-018
Number of participants with account balances2009-01-018

Financial Data on PALM BEACH SPORTSMEDICINE AND ORTHOPEADIC CENTER P.A. PROFIT SHARING PLAN

Measure Date Value
2011 : PALM BEACH SPORTSMEDICINE AND ORTHOPEADIC CENTER P.A. PROFIT SHARING PLAN 2011 401k financial data
Total plan liabilities at beginning of year2011-12-31$0
Total income from all sources2011-12-31$67,655
Total plan assets at end of year2011-12-31$1,077,343
Total plan assets at beginning of year2011-12-31$1,009,688
Value of fidelity bond covering the plan2011-12-31$75,000
Total contributions received or receivable from participants2011-12-31$60,026
Other income received2011-12-31$-29,918
Net income (gross income less expenses)2011-12-31$67,655
Net plan assets at end of year (total assets less liabilities)2011-12-31$1,077,343
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$1,009,688
Total contributions received or receivable from employer(s)2011-12-31$37,547
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
2010 : PALM BEACH SPORTSMEDICINE AND ORTHOPEADIC CENTER P.A. PROFIT SHARING PLAN 2010 401k financial data
Total income from all sources2010-12-31$28,343
Total plan assets at end of year2010-12-31$1,009,688
Total plan assets at beginning of year2010-12-31$981,345
Value of fidelity bond covering the plan2010-12-31$75,000
Total contributions received or receivable from participants2010-12-31$79,232
Other income received2010-12-31$-60,919
Net income (gross income less expenses)2010-12-31$28,343
Net plan assets at end of year (total assets less liabilities)2010-12-31$1,009,688
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$981,345
Total contributions received or receivable from employer(s)2010-12-31$10,030
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
2009 : PALM BEACH SPORTSMEDICINE AND ORTHOPEADIC CENTER P.A. PROFIT SHARING PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for PALM BEACH SPORTSMEDICINE AND ORTHOPEADIC CENTER P.A. PROFIT SHARING PLAN

2011: PALM BEACH SPORTSMEDICINE AND ORTHOPEADIC CENTER P.A. PROFIT SHARING PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedYes
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – InsuranceYes
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement – InsuranceYes
2011-01-01Plan benefit arrangement - TrustYes
2009: PALM BEACH SPORTSMEDICINE AND ORTHOPEADIC CENTER P.A. PROFIT SHARING PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – InsuranceYes
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement – InsuranceYes
2009-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA (National Association of Insurance Commissioners NAIC id number: 78778 )
Policy contract number606118
Policy instance 1
Insurance contract or identification number606118
Insurance policy start date2011-01-01
Insurance policy end date2011-12-31
Health Insurance Welfare BenefitYes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA (National Association of Insurance Commissioners NAIC id number: 78778 )
Policy contract number
Policy instance 1
Number of Individuals Covered8
Insurance policy start date2010-01-01
Insurance policy end date2010-12-31
Total amount of commissions paid to insurance brokerUSD $150
Total amount of fees paid to insurance companyUSD $0
Health Insurance Welfare BenefitYes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No

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