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SOUTH SHORE SURGICENTER LLC DEFINED BENEFIT PENSION PLAN 401k Plan overview

Plan NameSOUTH SHORE SURGICENTER LLC DEFINED BENEFIT PENSION PLAN
Plan identification number 002

SOUTH SHORE SURGICENTER LLC DEFINED BENEFIT PENSION 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).
  • Floor-offset plan - Plan benefits are subject to offset for retirement benefits provided by an employer-sponsored defined contribution plan.
  • 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).
  • Plan covering Self-Employed individuals.
  • 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

SOUTH SHORE SURGICENTER LLC has sponsored the creation of one or more 401k plans.

Company Name:SOUTH SHORE SURGICENTER LLC
Employer identification number (EIN):760584375
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SOUTH SHORE SURGICENTER LLC DEFINED BENEFIT PENSION 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
0022015-01-01
0022015-01-01
0022014-01-01CHARLES POLSEN2015-10-08
0022013-01-01CHARLES POLSEN2014-10-13
0022012-01-01CHARLES G. POLSEN2013-09-10
0022011-01-01CHARLES G. POLSEN2012-06-18
0022010-01-01CHARLES G. POLSEN, M.D.2011-08-18

Plan Statistics for SOUTH SHORE SURGICENTER LLC DEFINED BENEFIT PENSION PLAN

401k plan membership statisitcs for SOUTH SHORE SURGICENTER LLC DEFINED BENEFIT PENSION PLAN

Measure Date Value
2022: SOUTH SHORE SURGICENTER LLC DEFINED BENEFIT PENSION PLAN 2022 401k membership
Market value of plan assets2022-12-314,297,663
Acturial value of plan assets2022-12-314,297,663
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-3110
Fundng target for terminated vested participants2022-12-3166,812
Active participant vested funding target2022-12-313,603,637
Number of active participants2022-12-317
Total funding liabilities for active participants2022-12-313,603,637
Total participant count2022-12-3117
Total funding target for all participants2022-12-313,670,449
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-311,116,829
Carryover balanced portion elected for use to offset prior years funding requirement2022-12-310
Prefunding balanced used to offset prior years funding requirement2022-12-31234,334
Amount remaining of carryover balance2022-12-310
Amount remaining of prefunding balance2022-12-31882,495
Present value of excess contributions2022-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-310
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 year2022-12-31959,449
Total employer contributions2022-12-310
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 date2022-12-310
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 cost2022-12-31182,620
Net shortfall amortization installment of oustanding balance2022-12-31379,344
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-31217,676
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-31217,676
Additional cash requirement2022-12-310
Contributions allocatedtoward minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: SOUTH SHORE SURGICENTER LLC DEFINED BENEFIT PENSION PLAN 2021 401k membership
Market value of plan assets2021-12-314,291,404
Acturial value of plan assets2021-12-314,291,404
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-317
Fundng target for terminated vested participants2021-12-3148,832
Active participant vested funding target2021-12-313,157,441
Number of active participants2021-12-319
Total funding liabilities for active participants2021-12-313,157,441
Total participant count2021-12-3116
Total funding target for all participants2021-12-313,206,273
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-311,275,902
Carryover balanced portion elected for use to offset prior years funding requirement2021-12-310
Prefunding balanced used to offset prior years funding requirement2021-12-31240,939
Amount remaining of carryover balance2021-12-310
Amount remaining of prefunding balance2021-12-311,034,963
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 year2021-12-311,116,829
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 cost2021-12-31200,550
Net shortfall amortization installment of oustanding balance2021-12-3188,433
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-31236,550
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-31236,550
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: SOUTH SHORE SURGICENTER LLC DEFINED BENEFIT PENSION PLAN 2020 401k membership
Market value of plan assets2020-12-313,900,283
Acturial value of plan assets2020-12-313,900,283
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-316
Fundng target for terminated vested participants2020-12-3143,484
Active participant vested funding target2020-12-312,673,832
Number of active participants2020-12-3110
Total funding liabilities for active participants2020-12-312,674,225
Total participant count2020-12-3116
Total funding target for all participants2020-12-312,717,709
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-311,530,116
Carryover balanced portion elected for use to offset prior years funding requirement2020-12-310
Prefunding balanced used to offset prior years funding requirement2020-12-31311,955
Amount remaining of carryover balance2020-12-310
Amount remaining of prefunding balance2020-12-311,218,161
Present value of excess contributions2020-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-310
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 year2020-12-311,275,902
Total employer contributions2020-12-3145,558
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 date2020-12-3146,793
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 cost2020-12-31249,509
Net shortfall amortization installment of oustanding balance2020-12-31164,523
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-31292,086
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-31245,293
Additional cash requirement2020-12-3146,793
Contributions allocatedtoward minimum required contributions for current year2020-12-3146,793
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: SOUTH SHORE SURGICENTER LLC DEFINED BENEFIT PENSION PLAN 2019 401k membership
Market value of plan assets2019-12-313,613,636
Acturial value of plan assets2019-12-313,613,636
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-314
Fundng target for terminated vested participants2019-12-3121,188
Active participant vested funding target2019-12-312,334,292
Number of active participants2019-12-3111
Total funding liabilities for active participants2019-12-312,334,292
Total participant count2019-12-3115
Total funding target for all participants2019-12-312,355,480
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-311,226,171
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 balance2019-12-311,226,171
Present value of excess contributions2019-12-31356,295
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-31356,295
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-31356,295
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 year2019-12-311,530,116
Total employer contributions2019-12-310
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 date2019-12-310
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 cost2019-12-31244,701
Net shortfall amortization installment of oustanding balance2019-12-31354,892
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31309,628
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-31309,628
Additional cash requirement2019-12-310
Contributions allocatedtoward minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: SOUTH SHORE SURGICENTER LLC DEFINED BENEFIT PENSION PLAN 2018 401k membership
Market value of plan assets2018-12-312,854,918
Acturial value of plan assets2018-12-312,854,918
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-314
Fundng target for terminated vested participants2018-12-3117,755
Active participant vested funding target2018-12-311,932,651
Number of active participants2018-12-3110
Total funding liabilities for active participants2018-12-311,932,651
Total participant count2018-12-3114
Total funding target for all participants2018-12-311,950,406
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-311,187,080
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 balance2018-12-311,187,080
Present value of excess contributions2018-12-31182,995
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-31182,995
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-31182,995
Reductions in caryover balances due to elections or deemed elections2018-12-310
Reductions in prefunding balances due to elections or deemed elections2018-12-31203,853
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-311,226,171
Total employer contributions2018-12-31600,000
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 date2018-12-31589,247
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 cost2018-12-31219,248
Net shortfall amortization installment of oustanding balance2018-12-3151,790
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31232,952
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-31232,952
Contributions allocatedtoward minimum required contributions for current year2018-12-31589,247
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: SOUTH SHORE SURGICENTER LLC DEFINED BENEFIT PENSION PLAN 2017 401k membership
Market value of plan assets2017-12-312,542,314
Acturial value of plan assets2017-12-312,542,314
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-315
Fundng target for terminated vested participants2017-12-3120,077
Active participant vested funding target2017-12-311,536,562
Number of active participants2017-12-319
Total funding liabilities for active participants2017-12-311,536,562
Total participant count2017-12-3114
Total funding target for all participants2017-12-311,556,639
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-31493,328
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 balance2017-12-31493,328
Present value of excess contributions2017-12-31665,542
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-31665,542
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-12-31665,542
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 year2017-12-311,187,080
Total employer contributions2017-12-31430,000
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 date2017-12-31411,195
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 cost2017-12-31214,496
Net shortfall amortization installment of oustanding balance2017-12-3163,259
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-31228,200
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-31228,200
Contributions allocatedtoward minimum required contributions for current year2017-12-31411,195
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: SOUTH SHORE SURGICENTER LLC DEFINED BENEFIT PENSION PLAN 2016 401k membership
Market value of plan assets2016-12-311,543,137
Acturial value of plan assets2016-12-311,543,137
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-314
Fundng target for terminated vested participants2016-12-3112,972
Active participant vested funding target2016-12-311,227,851
Number of active participants2016-12-3110
Total funding liabilities for active participants2016-12-311,228,075
Total participant count2016-12-3114
Total funding target for all participants2016-12-311,241,047
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-31362,772
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 balance2016-12-31362,772
Present value of excess contributions2016-12-31184,790
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-31184,790
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2016-12-31184,790
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 year2016-12-31493,328
Total employer contributions2016-12-31884,104
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 date2016-12-31882,607
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 cost2016-12-31203,361
Net shortfall amortization installment of oustanding balance2016-12-3173,230
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-31217,065
Additional cash requirement2016-12-31217,065
Contributions allocatedtoward minimum required contributions for current year2016-12-31882,607
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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