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GEM STATE DERMATOLOGY CASH BALANCE PLAN 401k Plan overview

Plan NameGEM STATE DERMATOLOGY CASH BALANCE PLAN
Plan identification number 002

GEM STATE DERMATOLOGY 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

GEM STATE DERMATOLOGY has sponsored the creation of one or more 401k plans.

Company Name:GEM STATE DERMATOLOGY
Employer identification number (EIN):710932918
NAIC Classification:621399
NAIC Description:Offices of All Other Miscellaneous Health Practitioners

Form 5500 Filing Information

Submission information for form 5500 for 401k plan GEM STATE DERMATOLOGY CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022020-01-01
0022019-01-01
0022018-01-01STEVEN MINGS
0022017-01-01STEVEN MINGS
0022016-01-01STEVEN MINGS
0022015-01-01STEVEN MINGS

Plan Statistics for GEM STATE DERMATOLOGY CASH BALANCE PLAN

401k plan membership statisitcs for GEM STATE DERMATOLOGY CASH BALANCE PLAN

Measure Date Value
2020: GEM STATE DERMATOLOGY CASH BALANCE PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-0113
Total number of active participants reported on line 7a of the Form 55002020-01-010
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-010
Total of all active and inactive participants2020-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: GEM STATE DERMATOLOGY CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-30824,699
Acturial value of plan assets2019-12-30824,699
Funding target for retired participants and beneficiaries receiving payment2019-12-300
Number of terminated vested participants2019-12-302
Fundng target for terminated vested participants2019-12-301,735
Active participant vested funding target2019-12-30754,234
Number of active participants2019-12-3011
Total funding liabilities for active participants2019-12-30755,047
Total participant count2019-12-3013
Total funding target for all participants2019-12-30756,782
Balance at beginning of prior year after applicable adjustments2019-12-300
Prefunding balance at beginning of prior year after applicable adjustments2019-12-300
Carryover balanced portion elected for use to offset prior years funding requirement2019-12-300
Prefunding balanced used to offset prior years funding requirement2019-12-300
Amount remaining of carryover balance2019-12-300
Amount remaining of prefunding balance2019-12-300
Present value of excess contributions2019-12-3058,673
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-3058,673
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-300
Reductions in caryover balances due to elections or deemed elections2019-12-300
Reductions in prefunding balances due to elections or deemed elections2019-12-300
Balance of carryovers at beginning of current year2019-12-300
Balance of prefunding at beginning of current year2019-12-300
Total employer contributions2019-12-30143,230
Total employee contributions2019-12-300
Contributions allocated toward unpaid minimum require contributions from prior years2019-12-300
Contributions made to avoid restrictions adjusted to valuation date2019-12-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-12-30140,558
Liquidity shortfalls end of Q12019-12-300
Liquidity shortfalls end of Q22019-12-300
Liquidity shortfalls end of Q32019-12-300
Liquidity shortfalls end of Q42019-12-300
Unpaid minimum required contributions for all prior years2019-12-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-12-300
Remaining amount of unpaid minimum required contributions2019-12-300
Minimum required contributions for current year target normal cost2019-12-30172,629
Net shortfall amortization installment of oustanding balance2019-12-300
Waiver amortization installment2019-12-300
Total funding amount beforereflecting carryover/prefunding balances2019-12-30104,712
Carryover balance elected to use to offset funding requirement2019-12-300
Prefunding balance elected to use to offset funding requirement2019-12-300
Additional cash requirement2019-12-30104,712
Contributions allocatedtoward minimum required contributions for current year2019-12-30140,558
Unpaid minimum required contributions for current year2019-12-300
Unpaid minimum required contributions for all years2019-12-300
Total participants, beginning-of-year2019-01-0115
Total number of active participants reported on line 7a of the Form 55002019-01-0111
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-012
Total of all active and inactive participants2019-01-0113
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-0113
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: GEM STATE DERMATOLOGY CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-31501,535
Acturial value of plan assets2018-12-31501,535
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-312
Fundng target for terminated vested participants2018-12-314,213
Active participant vested funding target2018-12-31526,633
Number of active participants2018-12-3113
Total funding liabilities for active participants2018-12-31528,145
Total participant count2018-12-3115
Total funding target for all participants2018-12-31532,358
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 contributions2018-12-3145,132
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-3145,132
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 contributions2018-12-31229,522
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 date2018-12-31226,682
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 cost2018-12-31162,977
Net shortfall amortization installment of oustanding balance2018-12-3130,823
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31168,009
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-31168,009
Contributions allocatedtoward minimum required contributions for current year2018-12-31226,682
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
Total participants, beginning-of-year2018-01-0115
Total number of active participants reported on line 7a of the Form 55002018-01-0113
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-012
Total of all active and inactive participants2018-01-0115
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-0115
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010
2017: GEM STATE DERMATOLOGY CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-12-31368,707
Acturial value of plan assets2017-12-31368,707
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-310
Fundng target for terminated vested participants2017-12-310
Active participant vested funding target2017-12-31323,265
Number of active participants2017-12-3115
Total funding liabilities for active participants2017-12-31323,265
Total participant count2017-12-3115
Total funding target for all participants2017-12-31323,265
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 contributions2017-12-3127,927
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3127,927
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 contributions2017-12-31163,873
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 date2017-12-31164,189
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 cost2017-12-31164,499
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31119,057
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-31119,057
Contributions allocatedtoward minimum required contributions for current year2017-12-31164,189
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
Total participants, beginning-of-year2017-01-0112
Total number of active participants reported on line 7a of the Form 55002017-01-0115
Number of retired or separated participants receiving benefits2017-01-010
Number of other retired or separated participants entitled to future benefits2017-01-010
Total of all active and inactive participants2017-01-0115
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-0115
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-011
2016: GEM STATE DERMATOLOGY CASH BALANCE PLAN 2016 401k membership
Market value of plan assets2016-12-31168,634
Acturial value of plan assets2016-12-31168,634
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 participants2016-12-3112
Total funding liabilities for active participants2016-12-31160,812
Total participant count2016-12-3112
Total funding target for all participants2016-12-31160,812
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 contributions2016-12-3125,013
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-3125,013
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 contributions2016-12-31167,732
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 date2016-12-31174,937
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 cost2016-12-31154,832
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 balances2016-12-31147,010
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-31147,010
Contributions allocatedtoward minimum required contributions for current year2016-12-31174,937
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310
Total participants, beginning-of-year2016-01-0111
Total number of active participants reported on line 7a of the Form 55002016-01-0112
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-010
Total of all active and inactive participants2016-01-0112
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-0112
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-010
2015: GEM STATE DERMATOLOGY CASH BALANCE PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-0111
Total number of active participants reported on line 7a of the Form 55002015-01-0111
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-010
Total of all active and inactive participants2015-01-0111
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-0111
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-010

Financial Data on GEM STATE DERMATOLOGY CASH BALANCE PLAN

Measure Date Value
2020 : GEM STATE DERMATOLOGY CASH BALANCE PLAN 2020 401k financial data
Total income from all sources2020-04-30$-27,377
Expenses. Total of all expenses incurred2020-04-30$940,552
Benefits paid (including direct rollovers)2020-04-30$939,256
Total plan assets at end of year2020-04-30$0
Total plan assets at beginning of year2020-04-30$967,929
Value of fidelity bond covering the plan2020-04-30$200,000
Other income received2020-04-30$-27,377
Net income (gross income less expenses)2020-04-30$-967,929
Net plan assets at end of year (total assets less liabilities)2020-04-30$0
Net plan assets at beginning of year (total assets less liabilities)2020-04-30$967,929
Expenses. Administrative service providers (salaries,fees and commissions)2020-04-30$1,296
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-04-30$0
2019 : GEM STATE DERMATOLOGY CASH BALANCE PLAN 2019 401k financial data
Total income from all sources2019-12-31$253,406
Expenses. Total of all expenses incurred2019-12-31$16,534
Benefits paid (including direct rollovers)2019-12-31$10,626
Total plan assets at end of year2019-12-31$967,929
Total plan assets at beginning of year2019-12-31$731,057
Value of fidelity bond covering the plan2019-12-31$200,000
Other income received2019-12-31$110,176
Net income (gross income less expenses)2019-12-31$236,872
Net plan assets at end of year (total assets less liabilities)2019-12-31$967,929
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$731,057
Total contributions received or receivable from employer(s)2019-12-31$143,230
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$5,908
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
2018 : GEM STATE DERMATOLOGY CASH BALANCE PLAN 2018 401k financial data
Total income from all sources2018-12-31$201,780
Expenses. Total of all expenses incurred2018-12-31$3,740
Total plan assets at end of year2018-12-31$731,057
Total plan assets at beginning of year2018-12-31$533,017
Value of fidelity bond covering the plan2018-12-31$200,000
Other income received2018-12-31$-27,742
Net income (gross income less expenses)2018-12-31$198,040
Net plan assets at end of year (total assets less liabilities)2018-12-31$731,057
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$533,017
Total contributions received or receivable from employer(s)2018-12-31$229,522
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$3,740
2017 : GEM STATE DERMATOLOGY CASH BALANCE PLAN 2017 401k financial data
Total income from all sources2017-12-31$191,374
Expenses. Total of all expenses incurred2017-12-31$2,137
Total plan assets at end of year2017-12-31$533,017
Total plan assets at beginning of year2017-12-31$343,780
Value of fidelity bond covering the plan2017-12-31$200,000
Other income received2017-12-31$27,501
Net income (gross income less expenses)2017-12-31$189,237
Net plan assets at end of year (total assets less liabilities)2017-12-31$533,017
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$343,780
Total contributions received or receivable from employer(s)2017-12-31$163,873
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$2,137
2016 : GEM STATE DERMATOLOGY CASH BALANCE PLAN 2016 401k financial data
Total income from all sources2016-12-31$178,214
Expenses. Total of all expenses incurred2016-12-31$1,958
Total plan assets at end of year2016-12-31$343,780
Total plan assets at beginning of year2016-12-31$167,524
Value of fidelity bond covering the plan2016-12-31$200,000
Other income received2016-12-31$10,482
Net income (gross income less expenses)2016-12-31$176,256
Net plan assets at end of year (total assets less liabilities)2016-12-31$343,780
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$167,524
Total contributions received or receivable from employer(s)2016-12-31$167,732
Expenses. Administrative service providers (salaries,fees and commissions)2016-12-31$1,958
2015 : GEM STATE DERMATOLOGY CASH BALANCE PLAN 2015 401k financial data
Total income from all sources2015-12-31$168,437
Expenses. Total of all expenses incurred2015-12-31$913
Total plan assets at end of year2015-12-31$167,524
Total plan assets at beginning of year2015-12-31$0
Value of fidelity bond covering the plan2015-12-31$200,000
Other income received2015-12-31$-709
Net income (gross income less expenses)2015-12-31$167,524
Net plan assets at end of year (total assets less liabilities)2015-12-31$167,524
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$0
Total contributions received or receivable from employer(s)2015-12-31$169,146
Expenses. Administrative service providers (salaries,fees and commissions)2015-12-31$913

Form 5500 Responses for GEM STATE DERMATOLOGY CASH BALANCE PLAN

2020: GEM STATE DERMATOLOGY CASH BALANCE PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingYes
2020-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: GEM STATE DERMATOLOGY CASH BALANCE PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: GEM STATE DERMATOLOGY CASH BALANCE PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedNo
2018-01-01This submission is the final filingNo
2018-01-01This return/report is a short plan year return/report (less than 12 months)No
2018-01-01Plan is a collectively bargained planNo
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: GEM STATE DERMATOLOGY CASH BALANCE PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedNo
2017-01-01This submission is the final filingNo
2017-01-01This return/report is a short plan year return/report (less than 12 months)No
2017-01-01Plan is a collectively bargained planNo
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: GEM STATE DERMATOLOGY CASH BALANCE 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 – TrustYes
2016-01-01Plan benefit arrangement - TrustYes
2015: GEM STATE DERMATOLOGY CASH BALANCE PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01First time form 5500 has been submittedYes
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 – TrustYes
2015-01-01Plan benefit arrangement - TrustYes

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