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RICHARD W. BOYD, JR., DDS, MS CASH BALANCE PLAN 401k Plan overview

Plan NameRICHARD W. BOYD, JR., DDS, MS CASH BALANCE PLAN
Plan identification number 002

RICHARD W. BOYD, JR., DDS, MS 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).
  • Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).
  • 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

GARRETT-BOYD, D.D.S., M.S., INC. has sponsored the creation of one or more 401k plans.

Company Name:GARRETT-BOYD, D.D.S., M.S., INC.
Employer identification number (EIN):741919416
NAIC Classification:621210
NAIC Description:Offices of Dentists

Form 5500 Filing Information

Submission information for form 5500 for 401k plan RICHARD W. BOYD, JR., DDS, MS CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022021-07-01
0022020-07-01
0022019-07-01
0022018-07-01

Plan Statistics for RICHARD W. BOYD, JR., DDS, MS CASH BALANCE PLAN

401k plan membership statisitcs for RICHARD W. BOYD, JR., DDS, MS CASH BALANCE PLAN

Measure Date Value
2021: RICHARD W. BOYD, JR., DDS, MS CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-06-30577,968
Acturial value of plan assets2021-06-30577,968
Funding target for retired participants and beneficiaries receiving payment2021-06-300
Number of terminated vested participants2021-06-300
Fundng target for terminated vested participants2021-06-300
Active participant vested funding target2021-06-30532,391
Number of active participants2021-06-3012
Total funding liabilities for active participants2021-06-30552,821
Total participant count2021-06-3012
Total funding target for all participants2021-06-30552,821
Balance at beginning of prior year after applicable adjustments2021-06-300
Prefunding balance at beginning of prior year after applicable adjustments2021-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2021-06-300
Prefunding balanced used to offset prior years funding requirement2021-06-300
Amount remaining of carryover balance2021-06-300
Amount remaining of prefunding balance2021-06-300
Present value of excess contributions2021-06-301,813
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-06-301,813
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-06-300
Reductions in caryover balances due to elections or deemed elections2021-06-300
Reductions in prefunding balances due to elections or deemed elections2021-06-300
Balance of carryovers at beginning of current year2021-06-300
Balance of prefunding at beginning of current year2021-06-300
Total employer contributions2021-06-3085,000
Total employee contributions2021-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2021-06-300
Contributions made to avoid restrictions adjusted to valuation date2021-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-06-3082,731
Unpaid minimum required contributions for all prior years2021-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-06-300
Remaining amount of unpaid minimum required contributions2021-06-300
Minimum required contributions for current year target normal cost2021-06-300
Net shortfall amortization installment of oustanding balance2021-06-300
Waiver amortization installment2021-06-300
Total funding amount beforereflecting carryover/prefunding balances2021-06-300
Carryover balance elected to use to offset funding requirement2021-06-300
Prefunding balance elected to use to offset funding requirement2021-06-300
Additional cash requirement2021-06-300
Contributions allocatedtoward minimum required contributions for current year2021-06-3082,731
Unpaid minimum required contributions for current year2021-06-300
Unpaid minimum required contributions for all years2021-06-300
2020: RICHARD W. BOYD, JR., DDS, MS CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-06-30254,406
Acturial value of plan assets2020-06-30254,406
Funding target for retired participants and beneficiaries receiving payment2020-06-300
Number of terminated vested participants2020-06-300
Fundng target for terminated vested participants2020-06-300
Active participant vested funding target2020-06-300
Number of active participants2020-06-3014
Total funding liabilities for active participants2020-06-30272,895
Total participant count2020-06-3014
Total funding target for all participants2020-06-30272,895
Balance at beginning of prior year after applicable adjustments2020-06-300
Prefunding balance at beginning of prior year after applicable adjustments2020-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2020-06-300
Prefunding balanced used to offset prior years funding requirement2020-06-300
Amount remaining of carryover balance2020-06-300
Amount remaining of prefunding balance2020-06-300
Present value of excess contributions2020-06-3017,879
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-06-3017,879
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-06-300
Reductions in caryover balances due to elections or deemed elections2020-06-300
Reductions in prefunding balances due to elections or deemed elections2020-06-300
Balance of carryovers at beginning of current year2020-06-300
Balance of prefunding at beginning of current year2020-06-300
Total employer contributions2020-06-30274,000
Total employee contributions2020-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2020-06-300
Contributions made to avoid restrictions adjusted to valuation date2020-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-06-30272,822
Unpaid minimum required contributions for all prior years2020-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-06-300
Remaining amount of unpaid minimum required contributions2020-06-300
Minimum required contributions for current year target normal cost2020-06-30268,005
Net shortfall amortization installment of oustanding balance2020-06-3018,489
Waiver amortization installment2020-06-300
Total funding amount beforereflecting carryover/prefunding balances2020-06-30271,009
Carryover balance elected to use to offset funding requirement2020-06-300
Prefunding balance elected to use to offset funding requirement2020-06-300
Additional cash requirement2020-06-30271,009
Contributions allocatedtoward minimum required contributions for current year2020-06-30272,822
Unpaid minimum required contributions for current year2020-06-300
Unpaid minimum required contributions for all years2020-06-300
2019: RICHARD W. BOYD, JR., DDS, MS CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-06-300
Acturial value of plan assets2019-06-300
Funding target for retired participants and beneficiaries receiving payment2019-06-300
Number of terminated vested participants2019-06-300
Fundng target for terminated vested participants2019-06-300
Active participant vested funding target2019-06-300
Number of active participants2019-06-3011
Total funding liabilities for active participants2019-06-300
Total participant count2019-06-3011
Total funding target for all participants2019-06-300
Amount remaining of carryover balance2019-06-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-06-300
Reductions in caryover balances due to elections or deemed elections2019-06-300
Balance of carryovers at beginning of current year2019-06-300
Total employer contributions2019-06-30242,597
Total employee contributions2019-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2019-06-300
Contributions made to avoid restrictions adjusted to valuation date2019-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-06-30237,176
Unpaid minimum required contributions for all prior years2019-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-06-300
Remaining amount of unpaid minimum required contributions2019-06-300
Minimum required contributions for current year target normal cost2019-06-30219,297
Net shortfall amortization installment of oustanding balance2019-06-300
Waiver amortization installment2019-06-300
Total funding amount beforereflecting carryover/prefunding balances2019-06-30219,297
Additional cash requirement2019-06-30219,297
Contributions allocatedtoward minimum required contributions for current year2019-06-30237,176
Unpaid minimum required contributions for current year2019-06-300
Unpaid minimum required contributions for all years2019-06-300

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