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PALM BEACH ORTHOPAEDIC INSTITUTE, P.A. CASH BALANCE PLAN 401k Plan overview

Plan NamePALM BEACH ORTHOPAEDIC INSTITUTE, P.A. CASH BALANCE PLAN
Plan identification number 002

PALM BEACH ORTHOPAEDIC INSTITUTE, P.A. 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

PALM BEACH ORTHOPAEDIC INSTITUTE, P.A. has sponsored the creation of one or more 401k plans.

Company Name:PALM BEACH ORTHOPAEDIC INSTITUTE, P.A.
Employer identification number (EIN):650327403
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Additional information about PALM BEACH ORTHOPAEDIC INSTITUTE, P.A.

Jurisdiction of Incorporation: Florida Department of State Division of Corporations
Incorporation Date: 1992-04-29
Company Identification Number: V32353
Legal Registered Office Address: 4215 Burns Road

PALM BEACH GARDENS

33410

More information about PALM BEACH ORTHOPAEDIC INSTITUTE, P.A.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PALM BEACH ORTHOPAEDIC INSTITUTE, P.A. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01
0022022-01-01
0022021-01-01
0022020-01-01
0022019-01-01
0022018-01-01
0022017-01-01
0022016-01-01

Plan Statistics for PALM BEACH ORTHOPAEDIC INSTITUTE, P.A. CASH BALANCE PLAN

401k plan membership statisitcs for PALM BEACH ORTHOPAEDIC INSTITUTE, P.A. CASH BALANCE PLAN

Measure Date Value
2022: PALM BEACH ORTHOPAEDIC INSTITUTE, P.A. CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-315,122,008
Acturial value of plan assets2022-12-315,122,008
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-3110
Fundng target for terminated vested participants2022-12-3127,938
Active participant vested funding target2022-12-315,924,666
Number of active participants2022-12-3153
Total funding liabilities for active participants2022-12-315,924,666
Total participant count2022-12-3163
Total funding target for all participants2022-12-315,952,604
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 contributions2022-12-31672,304
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31672,304
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 contributions2022-12-311,030,000
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 date2022-12-311,044,276
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 cost2022-12-31966,696
Net shortfall amortization installment of oustanding balance2022-12-31830,596
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-311,043,453
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-311,043,453
Contributions allocatedtoward minimum required contributions for current year2022-12-311,044,276
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: PALM BEACH ORTHOPAEDIC INSTITUTE, P.A. CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-315,454,938
Acturial value of plan assets2021-12-315,454,938
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-3139
Fundng target for terminated vested participants2021-12-3157,892
Active participant vested funding target2021-12-314,622,487
Number of active participants2021-12-3159
Total funding liabilities for active participants2021-12-314,622,487
Total participant count2021-12-3198
Total funding target for all participants2021-12-314,680,379
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 contributions2021-12-31546,636
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-31546,636
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 contributions2021-12-31828,171
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 date2021-12-31849,283
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 cost2021-12-31951,538
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-31176,979
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-31176,979
Contributions allocatedtoward minimum required contributions for current year2021-12-31849,283
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: PALM BEACH ORTHOPAEDIC INSTITUTE, P.A. CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-314,199,063
Acturial value of plan assets2020-12-314,199,063
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-3129
Fundng target for terminated vested participants2020-12-3136,928
Active participant vested funding target2020-12-313,518,822
Number of active participants2020-12-3160
Total funding liabilities for active participants2020-12-313,518,822
Total participant count2020-12-3189
Total funding target for all participants2020-12-313,555,750
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 contributions2020-12-31305,321
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-31305,321
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 contributions2020-12-31844,000
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 date2020-12-31866,397
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 cost2020-12-31963,074
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-31319,761
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-31319,761
Contributions allocatedtoward minimum required contributions for current year2020-12-31866,397
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: PALM BEACH ORTHOPAEDIC INSTITUTE, P.A. CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-313,777,114
Acturial value of plan assets2019-12-313,777,114
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-3127
Fundng target for terminated vested participants2019-12-3124,888
Active participant vested funding target2019-12-313,443,549
Number of active participants2019-12-3170
Total funding liabilities for active participants2019-12-313,443,549
Total participant count2019-12-3197
Total funding target for all participants2019-12-313,468,437
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 contributions2019-12-3129,932
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-3129,932
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 contributions2019-12-311,196,585
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 date2019-12-311,223,573
Liquidity shortfalls end of Q12019-12-310
Liquidity shortfalls end of Q22019-12-310
Liquidity shortfalls end of Q32019-12-310
Liquidity shortfalls end of Q42019-12-310
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 cost2019-12-311,226,929
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31918,252
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-31918,252
Contributions allocatedtoward minimum required contributions for current year2019-12-311,223,573
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: PALM BEACH ORTHOPAEDIC INSTITUTE, P.A. CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-312,118,324
Acturial value of plan assets2018-12-312,118,324
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-3122
Fundng target for terminated vested participants2018-12-3115,495
Active participant vested funding target2018-12-312,242,611
Number of active participants2018-12-3169
Total funding liabilities for active participants2018-12-312,242,611
Total participant count2018-12-3191
Total funding target for all participants2018-12-312,258,106
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 contributions2018-12-31286,364
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-31286,364
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 contributions2018-12-311,012,495
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 date2018-12-311,038,138
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 cost2018-12-31985,387
Net shortfall amortization installment of oustanding balance2018-12-31139,782
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-311,008,206
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-311,008,206
Contributions allocatedtoward minimum required contributions for current year2018-12-311,038,138
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: PALM BEACH ORTHOPAEDIC INSTITUTE, P.A. CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-12-311,264,558
Acturial value of plan assets2017-12-311,264,558
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-3112
Fundng target for terminated vested participants2017-12-317,887
Active participant vested funding target2017-12-311,074,405
Number of active participants2017-12-3168
Total funding liabilities for active participants2017-12-311,074,405
Total participant count2017-12-3180
Total funding target for all participants2017-12-311,082,292
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 contributions2017-12-3181,034
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3181,034
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 contributions2017-12-311,104,295
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 date2017-12-311,130,721
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 cost2017-12-311,026,623
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31844,357
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-31844,357
Contributions allocatedtoward minimum required contributions for current year2017-12-311,130,721
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: PALM BEACH ORTHOPAEDIC INSTITUTE, P.A. CASH BALANCE PLAN 2016 401k membership
Market value of plan assets2016-12-310
Acturial value of plan assets2016-12-310
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 participants2016-12-3173
Total funding liabilities for active participants2016-12-310
Total participant count2016-12-3173
Total funding target for all participants2016-12-310
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 contributions2016-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-310
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 contributions2016-12-311,104,778
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 date2016-12-311,090,875
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 cost2016-12-311,009,841
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-311,009,841
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-311,009,841
Contributions allocatedtoward minimum required contributions for current year2016-12-311,090,875
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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