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PASSAGE HEALTHCARE 401(K) PLAN 401k Plan overview

Plan NamePASSAGE HEALTHCARE 401(K) PLAN
Plan identification number 001

PASSAGE HEALTHCARE 401(K) 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.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • 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

PASSAGE HEALTHCARE, LLC has sponsored the creation of one or more 401k plans.

Company Name:PASSAGE HEALTHCARE, LLC
Employer identification number (EIN):660833572
NAIC Classification:623000
NAIC Description: Nursing and Residential Care Facilities

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PASSAGE HEALTHCARE 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012016-01-01FRANCHESCA MARTIN
0012015-01-01LARRY COTTLE

Plan Statistics for PASSAGE HEALTHCARE 401(K) PLAN

401k plan membership statisitcs for PASSAGE HEALTHCARE 401(K) PLAN

Measure Date Value
2016: PASSAGE HEALTHCARE 401(K) PLAN 2016 401k membership
Total participants, beginning-of-year2016-01-01412
Total number of active participants reported on line 7a of the Form 55002016-01-01384
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-01108
Total of all active and inactive participants2016-01-01492
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-01492
Number of participants with account balances2016-01-01270
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-0110
2015: PASSAGE HEALTHCARE 401(K) PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-01205
Total number of active participants reported on line 7a of the Form 55002015-01-01436
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-0137
Total of all active and inactive participants2015-01-01473
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-01473
Number of participants with account balances2015-01-01210
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-010

Financial Data on PASSAGE HEALTHCARE 401(K) PLAN

Measure Date Value
2016 : PASSAGE HEALTHCARE 401(K) PLAN 2016 401k financial data
Total unrealized appreciation/depreciation of assets2016-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$0
Total income from all sources (including contributions)2016-12-31$496,187
Total loss/gain on sale of assets2016-12-31$0
Total of all expenses incurred2016-12-31$57,632
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2016-12-31$44,549
Value of total corrective distributions2016-12-31$11,008
Total contributions o plan (from employers,participants, others, non cash contrinutions)2016-12-31$400,811
Value of total assets at end of year2016-12-31$2,103,423
Value of total assets at beginning of year2016-12-31$1,664,868
Total of administrative expenses incurred including professional, contract, advisory and management fees2016-12-31$2,075
Total interest from all sources2016-12-31$76
Total dividends received (eg from common stock, registered investment company shares)2016-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2016-12-31No
Was this plan covered by a fidelity bond2016-12-31Yes
Value of fidelity bond cover2016-12-31$500,000
If this is an individual account plan, was there a blackout period2016-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2016-12-31$0
Were there any nonexempt tranactions with any party-in-interest2016-12-31No
Contributions received from participants2016-12-31$304,736
Participant contributions at end of year2016-12-31$25,577
Participant contributions at beginning of year2016-12-31$15,271
Income. Received or receivable in cash from other sources (including rollovers)2016-12-31$6,086
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Value of net income/loss2016-12-31$438,555
Value of net assets at end of year (total assets less liabilities)2016-12-31$2,103,423
Value of net assets at beginning of year (total assets less liabilities)2016-12-31$1,664,868
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2016-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2016-12-31No
Were any leases to which the plan was party in default or uncollectible2016-12-31No
Value of interest in pooled separate accounts at end of year2016-12-31$1,974,742
Value of interest in pooled separate accounts at beginning of year2016-12-31$1,578,526
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2016-12-31$76
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2016-12-31$62,893
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2016-12-31$53,370
Net investment gain/loss from pooled separate accounts2016-12-31$95,300
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2016-12-31No
Was there a failure to transmit to the plan any participant contributions2016-12-31Yes
Has the plan failed to provide any benefit when due under the plan2016-12-31No
Contributions received in cash from employer2016-12-31$89,989
Employer contributions (assets) at end of year2016-12-31$40,211
Employer contributions (assets) at beginning of year2016-12-31$17,701
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2016-12-31$44,549
Contract administrator fees2016-12-31$2,075
Did the plan have assets held for investment2016-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2016-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2016-12-31Yes
Opinion of an independent qualified public accountant for this plan2016-12-31Disclaimer
Accountancy firm name2016-12-31PADDEN, GUERRINI & ASSOCIATES, P.C.
Accountancy firm EIN2016-12-31232290841
2015 : PASSAGE HEALTHCARE 401(K) PLAN 2015 401k financial data
Total unrealized appreciation/depreciation of assets2015-12-31$0
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$382,303
Total loss/gain on sale of assets2015-12-31$0
Total of all expenses incurred2015-12-31$414,603
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2015-12-31$412,326
Total contributions o plan (from employers,participants, others, non cash contrinutions)2015-12-31$431,731
Value of total assets at end of year2015-12-31$1,664,868
Value of total assets at beginning of year2015-12-31$1,697,168
Total of administrative expenses incurred including professional, contract, advisory and management fees2015-12-31$2,277
Total interest from all sources2015-12-31$29
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
Was this plan covered by a fidelity bond2015-12-31Yes
Value of fidelity bond cover2015-12-31$170,000
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$260,883
Participant contributions at end of year2015-12-31$15,271
Participant contributions at beginning of year2015-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2015-12-31$94,503
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-31No
Value of net income/loss2015-12-31$-32,300
Value of net assets at end of year (total assets less liabilities)2015-12-31$1,664,868
Value of net assets at beginning of year (total assets less liabilities)2015-12-31$1,697,168
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 pooled separate accounts at end of year2015-12-31$1,578,526
Value of interest in pooled separate accounts at beginning of year2015-12-31$1,626,107
Interest earned on other investments2015-12-31$18
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2015-12-31$11
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2015-12-31$53,370
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2015-12-31$59,505
Net investment gain/loss from pooled separate accounts2015-12-31$-49,457
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$76,345
Employer contributions (assets) at end of year2015-12-31$17,701
Employer contributions (assets) at beginning of year2015-12-31$11,556
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2015-12-31$412,326
Contract administrator fees2015-12-31$2,277
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
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2015-12-31Yes
Opinion of an independent qualified public accountant for this plan2015-12-31Disclaimer
Accountancy firm name2015-12-31PADDEN, GUERRINI & ASSOCIATES, P.C.
Accountancy firm EIN2015-12-31232290841

Form 5500 Responses for PASSAGE HEALTHCARE 401(K) PLAN

2016: PASSAGE HEALTHCARE 401(K) PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Submission has been amendedNo
2016-01-01This submission is the final filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – InsuranceYes
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement – InsuranceYes
2016-01-01Plan benefit arrangement - TrustYes
2015: PASSAGE HEALTHCARE 401(K) PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingNo
2015-01-01This return/report is a short plan year return/report (less than 12 months)No
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – InsuranceYes
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement – InsuranceYes
2015-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )
Policy contract numberGH4702
Policy instance 1
Insurance contract or identification numberGH4702
Number of Individuals Covered189
Insurance policy start date2015-01-01
Insurance policy end date2015-12-31
Total amount of commissions paid to insurance brokerUSD $9,111
Total amount of fees paid to insurance companyUSD $891
Are there contracts with allocated funds for individual policies?No
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 planNo
Contracts With Unallocated Funds Deposit Administration0
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?Yes
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
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 BrokerUSD $9,111
Insurance broker organization code?7
Amount paid for insurance broker fees891
Additional information about fees paid to insurance brokerTPA PARTNERSHIP PROGRAM
Insurance broker namePA RETIREMENT SOLUTIONS, INC.

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