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ROBERT W. NESBITT, M.D., P.C., CASH BALANCE PLAN 401k Plan overview

Plan NameROBERT W. NESBITT, M.D., P.C., CASH BALANCE PLAN
Plan identification number 002

ROBERT W. NESBITT, M.D., P.C., CASH BALANCE PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • 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).

401k Sponsoring company profile

ROBERT W NESBITT, MD, PC has sponsored the creation of one or more 401k plans.

Company Name:ROBERT W NESBITT, MD, PC
Employer identification number (EIN):753052020
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan ROBERT W. NESBITT, M.D., P.C., CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022021-01-01DR. ROBERT NESBITT2022-10-17
0022020-01-01DR. ROBERT NESBITT2021-10-15
0022019-01-01ROBERT W. NESBITT, M.D.2020-10-11
0022018-01-01ROBERT W. NESBITT, M.D.2019-10-07
0022017-01-01ROBERT W. NESBITT, M.D.2018-09-28
0022016-01-01ROBERT W. NESBITT, M.D.2017-10-11
0022015-01-01ROBERT W. NESBITT, M.D.2016-09-27
0022014-01-01ROBERT W. NESBITT, MD2015-10-08
0022013-01-01ROBERT W. NESBITT, MD2014-10-07
0022012-01-01ROBERT W. NESBITT, MD2013-10-14
0022011-01-01ROBERT W. NESBITT, MD2012-10-09
0022010-01-01ROBERT W. NESBITT, M.D.2011-10-11

Plan Statistics for ROBERT W. NESBITT, M.D., P.C., CASH BALANCE PLAN

401k plan membership statisitcs for ROBERT W. NESBITT, M.D., P.C., CASH BALANCE PLAN

Measure Date Value
2021: ROBERT W. NESBITT, M.D., P.C., CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-311,140,754
Acturial value of plan assets2021-12-311,140,754
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-311
Fundng target for terminated vested participants2021-12-3169,275
Active participant vested funding target2021-12-311,029,799
Number of active participants2021-12-3113
Total funding liabilities for active participants2021-12-311,029,799
Total participant count2021-12-3114
Total funding target for all participants2021-12-311,099,074
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-315,706
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 balance2021-12-315,706
Present value of excess contributions2021-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-310
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 year2021-12-315,890
Total employer contributions2021-12-310
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 date2021-12-310
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 cost2021-12-315,348
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-310
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-310
Contributions allocatedtoward minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: ROBERT W. NESBITT, M.D., P.C., CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-311,109,481
Acturial value of plan assets2020-12-311,109,481
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-311
Fundng target for terminated vested participants2020-12-3166,316
Active participant vested funding target2020-12-311,008,767
Number of active participants2020-12-314
Total funding liabilities for active participants2020-12-311,008,767
Total participant count2020-12-315
Total funding target for all participants2020-12-311,075,083
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-315,020
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 balance2020-12-315,020
Present value of excess contributions2020-12-3111,547
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-3112,065
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 year2020-12-315,706
Total employer contributions2020-12-310
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 date2020-12-310
Liquidity shortfalls end of Q12020-12-310
Liquidity shortfalls end of Q22020-12-310
Liquidity shortfalls end of Q32020-12-310
Liquidity shortfalls end of Q42020-12-310
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 cost2020-12-318,144
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-310
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-310
Contributions allocatedtoward minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: ROBERT W. NESBITT, M.D., P.C., CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-31903,083
Acturial value of plan assets2019-12-31903,083
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-311
Fundng target for terminated vested participants2019-12-3162,793
Active participant vested funding target2019-12-31910,920
Number of active participants2019-12-313
Total funding liabilities for active participants2019-12-31910,920
Total participant count2019-12-314
Total funding target for all participants2019-12-31973,713
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-315,213
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 balance2019-12-315,213
Present value of excess contributions2019-12-311,209
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-311,262
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 year2019-12-315,020
Total employer contributions2019-12-31100,000
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 date2019-12-3189,880
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 cost2019-12-3163,752
Net shortfall amortization installment of oustanding balance2019-12-3175,650
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-3178,333
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-3178,333
Contributions allocatedtoward minimum required contributions for current year2019-12-3189,880
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: ROBERT W. NESBITT, M.D., P.C., CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-31865,375
Acturial value of plan assets2018-12-31865,375
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-311
Fundng target for terminated vested participants2018-12-3159,415
Active participant vested funding target2018-12-31809,567
Number of active participants2018-12-313
Total funding liabilities for active participants2018-12-31814,968
Total participant count2018-12-314
Total funding target for all participants2018-12-31874,383
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-314,844
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 balance2018-12-314,844
Present value of excess contributions2018-12-31420
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-31440
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 year2018-12-315,213
Total employer contributions2018-12-3175,000
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 date2018-12-3167,082
Liquidity shortfalls end of Q12018-12-310
Liquidity shortfalls end of Q22018-12-310
Liquidity shortfalls end of Q32018-12-310
Liquidity shortfalls end of Q42018-12-310
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 cost2018-12-3161,888
Net shortfall amortization installment of oustanding balance2018-12-3114,221
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-3165,873
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-3165,873
Contributions allocatedtoward minimum required contributions for current year2018-12-3167,082
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: ROBERT W. NESBITT, M.D., P.C., CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-12-31743,701
Acturial value of plan assets2017-12-31743,701
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-311
Fundng target for terminated vested participants2017-12-3157,347
Active participant vested funding target2017-12-31720,446
Number of active participants2017-12-313
Total funding liabilities for active participants2017-12-31720,446
Total participant count2017-12-314
Total funding target for all participants2017-12-31777,793
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-314,510
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 balance2017-12-314,510
Present value of excess contributions2017-12-3115,011
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3115,895
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 year2017-12-314,844
Total employer contributions2017-12-3175,000
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 date2017-12-3166,822
Liquidity shortfalls end of Q12017-12-310
Liquidity shortfalls end of Q22017-12-310
Liquidity shortfalls end of Q32017-12-310
Liquidity shortfalls end of Q42017-12-310
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 cost2017-12-3159,239
Net shortfall amortization installment of oustanding balance2017-12-3138,936
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-3166,402
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-3166,402
Contributions allocatedtoward minimum required contributions for current year2017-12-3166,822
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: ROBERT W. NESBITT, M.D., P.C., CASH BALANCE PLAN 2016 401k membership
Market value of plan assets2016-12-31626,792
Acturial value of plan assets2016-12-31626,792
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-311
Fundng target for terminated vested participants2016-12-3155,822
Active participant vested funding target2016-12-31590,408
Number of active participants2016-12-312
Total funding liabilities for active participants2016-12-31590,408
Total participant count2016-12-313
Total funding target for all participants2016-12-31646,230
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-314,524
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 balance2016-12-314,524
Present value of excess contributions2016-12-3114,394
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-3115,268
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 year2016-12-314,510
Total employer contributions2016-12-3180,000
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 date2016-12-3172,989
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 cost2016-12-3151,436
Net shortfall amortization installment of oustanding balance2016-12-3123,948
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-3157,978
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-3157,978
Contributions allocatedtoward minimum required contributions for current year2016-12-3172,989
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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