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WILLIAM R. MAY, DDS, PC CASH BALANCE PLAN 401k Plan overview

Plan NameWILLIAM R. MAY, DDS, PC CASH BALANCE PLAN
Plan identification number 003

WILLIAM R. MAY, DDS, PC 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.

401k Sponsoring company profile

WILLIAM R. MAY, DDS, PC has sponsored the creation of one or more 401k plans.

Company Name:WILLIAM R. MAY, DDS, PC
Employer identification number (EIN):621808190
NAIC Classification:621210
NAIC Description:Offices of Dentists

Form 5500 Filing Information

Submission information for form 5500 for 401k plan WILLIAM R. MAY, DDS, PC CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032023-01-01WILLIAM R. MAY2023-08-31
0032022-01-01WILLIAM R. MAY2023-04-10
0032021-01-01WILLIAM R. MAY2022-03-17
0032020-01-01WILLIAM R. MAY2021-01-30
0032019-01-01WILLIAM R. MAY2020-02-13

Plan Statistics for WILLIAM R. MAY, DDS, PC CASH BALANCE PLAN

401k plan membership statisitcs for WILLIAM R. MAY, DDS, PC CASH BALANCE PLAN

Measure Date Value
2023: WILLIAM R. MAY, DDS, PC CASH BALANCE PLAN 2023 401k membership
Market value of plan assets2023-06-01713,440
Acturial value of plan assets2023-06-01713,440
Funding target for retired participants and beneficiaries receiving payment2023-06-010
Number of terminated vested participants2023-06-012
Fundng target for terminated vested participants2023-06-016,356
Active participant vested funding target2023-06-01691,780
Number of active participants2023-06-0111
Total funding liabilities for active participants2023-06-01691,780
Total participant count2023-06-0113
Total funding target for all participants2023-06-01698,136
Balance at beginning of prior year after applicable adjustments2023-06-010
Prefunding balance at beginning of prior year after applicable adjustments2023-06-010
Carryover balanced portion elected for use to offset prior years funding requirement2023-06-010
Prefunding balanced used to offset prior years funding requirement2023-06-010
Amount remaining of carryover balance2023-06-010
Amount remaining of prefunding balance2023-06-010
Present value of excess contributions2023-06-0182,794
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2023-06-0182,794
Reductions in caryover balances due to elections or deemed elections2023-06-010
Reductions in prefunding balances due to elections or deemed elections2023-06-010
Balance of carryovers at beginning of current year2023-06-010
Balance of prefunding at beginning of current year2023-06-010
Total employer contributions2023-06-010
Total employee contributions2023-06-010
Contributions allocated toward unpaid minimum require contributions from prior years2023-06-010
Contributions made to avoid restrictions adjusted to valuation date2023-06-010
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2023-06-010
Unpaid minimum required contributions for all prior years2023-06-010
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2023-06-010
Remaining amount of unpaid minimum required contributions2023-06-010
Minimum required contributions for current year target normal cost2023-06-010
Net shortfall amortization installment of oustanding balance2023-06-010
Waiver amortization installment2023-06-010
Total funding amount beforereflecting carryover/prefunding balances2023-06-010
Carryover balance elected to use to offset funding requirement2023-06-010
Prefunding balance elected to use to offset funding requirement2023-06-010
Additional cash requirement2023-06-010
Contributions allocatedtoward minimum required contributions for current year2023-06-010
Unpaid minimum required contributions for current year2023-06-010
Unpaid minimum required contributions for all years2023-06-010
2022: WILLIAM R. MAY, DDS, PC CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-31424,746
Acturial value of plan assets2022-12-31424,746
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-312
Fundng target for terminated vested participants2022-12-315,301
Active participant vested funding target2022-12-31492,111
Number of active participants2022-12-3110
Total funding liabilities for active participants2022-12-31495,997
Total participant count2022-12-3112
Total funding target for all participants2022-12-31501,298
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 contributions2022-12-3129,998
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-3129,998
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 contributions2022-12-31280,000
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 date2022-12-31282,891
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 cost2022-12-31193,023
Net shortfall amortization installment of oustanding balance2022-12-3176,552
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-31200,097
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-31200,097
Contributions allocatedtoward minimum required contributions for current year2022-12-31282,891
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: WILLIAM R. MAY, DDS, PC CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-31385,597
Acturial value of plan assets2021-12-31385,597
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-310
Fundng target for terminated vested participants2021-12-310
Active participant vested funding target2021-12-31323,005
Number of active participants2021-12-3113
Total funding liabilities for active participants2021-12-31325,283
Total participant count2021-12-3113
Total funding target for all participants2021-12-31325,283
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 contributions2021-12-3134,216
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-3134,216
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 contributions2021-12-31120,000
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 date2021-12-31122,978
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 cost2021-12-31153,294
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-3192,980
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-3192,980
Contributions allocatedtoward minimum required contributions for current year2021-12-31122,978
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: WILLIAM R. MAY, DDS, PC CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-31217,167
Acturial value of plan assets2020-12-31217,167
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-310
Fundng target for terminated vested participants2020-12-310
Active participant vested funding target2020-12-310
Number of active participants2020-12-3110
Total funding liabilities for active participants2020-12-31183,431
Total participant count2020-12-3110
Total funding target for all participants2020-12-31183,431
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2020-12-310
Prefunding balanced used to offset prior years funding requirement2020-12-310
Amount remaining of carryover balance2020-12-310
Amount remaining of prefunding balance2020-12-310
Present value of excess contributions2020-12-315,341
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-315,341
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-310
Reductions in caryover balances due to elections or deemed elections2020-12-310
Reductions in prefunding balances due to elections or deemed elections2020-12-310
Balance of carryovers at beginning of current year2020-12-310
Balance of prefunding at beginning of current year2020-12-310
Total employer contributions2020-12-31135,000
Total employee contributions2020-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2020-12-310
Contributions made to avoid restrictions adjusted to valuation date2020-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-12-31137,529
Unpaid minimum required contributions for all prior years2020-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-12-310
Remaining amount of unpaid minimum required contributions2020-12-310
Minimum required contributions for current year target normal cost2020-12-31137,050
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-31103,313
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-31103,313
Contributions allocatedtoward minimum required contributions for current year2020-12-31137,529
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: WILLIAM R. MAY, DDS, PC CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-310
Acturial value of plan assets2019-12-310
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-310
Fundng target for terminated vested participants2019-12-310
Active participant vested funding target2019-12-310
Number of active participants2019-12-319
Total funding liabilities for active participants2019-12-310
Total participant count2019-12-319
Total funding target for all participants2019-12-310
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 contributions2019-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-310
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 contributions2019-12-31182,412
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 date2019-12-31182,519
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 cost2019-12-31177,178
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31177,178
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-31177,178
Contributions allocatedtoward minimum required contributions for current year2019-12-31182,519
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310

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