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WESLEY CHAPEL MEDICAL RETIREMENT PLAN 401k Plan overview

Plan NameWESLEY CHAPEL MEDICAL RETIREMENT PLAN
Plan identification number 002

WESLEY CHAPEL MEDICAL RETIREMENT 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.
  • Code section 401(h) arrangement - Plan contains separate accounts under Code section 401(h) to provide employee health benefits.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

WESLEY CHAPEL MEDICAL CARE has sponsored the creation of one or more 401k plans.

Company Name:WESLEY CHAPEL MEDICAL CARE
Employer identification number (EIN):800270806
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan WESLEY CHAPEL MEDICAL RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-12-31
0022021-12-31

Plan Statistics for WESLEY CHAPEL MEDICAL RETIREMENT PLAN

401k plan membership statisitcs for WESLEY CHAPEL MEDICAL RETIREMENT PLAN

Measure Date Value
2023: WESLEY CHAPEL MEDICAL RETIREMENT PLAN 2023 401k membership
Market value of plan assets2023-12-30262,969
Acturial value of plan assets2023-12-30262,969
Funding target for retired participants and beneficiaries receiving payment2023-12-300
Number of terminated vested participants2023-12-300
Fundng target for terminated vested participants2023-12-300
Active participant vested funding target2023-12-300
Number of active participants2023-12-3010
Total funding liabilities for active participants2023-12-30353,044
Total participant count2023-12-3010
Total funding target for all participants2023-12-30353,044
Balance at beginning of prior year after applicable adjustments2023-12-300
Prefunding balance at beginning of prior year after applicable adjustments2023-12-300
Carryover balanced portion elected for use to offset prior years funding requirement2023-12-300
Prefunding balanced used to offset prior years funding requirement2023-12-300
Amount remaining of carryover balance2023-12-300
Amount remaining of prefunding balance2023-12-300
Present value of excess contributions2023-12-30999
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2023-12-30999
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2023-12-300
Reductions in caryover balances due to elections or deemed elections2023-12-300
Reductions in prefunding balances due to elections or deemed elections2023-12-300
Balance of carryovers at beginning of current year2023-12-300
Balance of prefunding at beginning of current year2023-12-300
Total employer contributions2023-12-30238,666
Total employee contributions2023-12-300
Contributions allocated toward unpaid minimum require contributions from prior years2023-12-300
Contributions made to avoid restrictions adjusted to valuation date2023-12-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2023-12-30232,901
Unpaid minimum required contributions for all prior years2023-12-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2023-12-300
Remaining amount of unpaid minimum required contributions2023-12-300
Minimum required contributions for current year target normal cost2023-12-30224,483
Net shortfall amortization installment of oustanding balance2023-12-3090,075
Waiver amortization installment2023-12-300
Total funding amount beforereflecting carryover/prefunding balances2023-12-30232,807
Additional cash requirement2023-12-30232,807
Contributions allocatedtoward minimum required contributions for current year2023-12-30232,901
Unpaid minimum required contributions for current year2023-12-300
Unpaid minimum required contributions for all years2023-12-300
2022: WESLEY CHAPEL MEDICAL RETIREMENT PLAN 2022 401k membership
Market value of plan assets2022-12-3019,023
Acturial value of plan assets2022-12-3019,023
Funding target for retired participants and beneficiaries receiving payment2022-12-300
Number of terminated vested participants2022-12-300
Fundng target for terminated vested participants2022-12-300
Active participant vested funding target2022-12-300
Number of active participants2022-12-3010
Total funding liabilities for active participants2022-12-30120,085
Total participant count2022-12-3010
Total funding target for all participants2022-12-30120,085
Balance at beginning of prior year after applicable adjustments2022-12-300
Prefunding balance at beginning of prior year after applicable adjustments2022-12-300
Carryover balanced portion elected for use to offset prior years funding requirement2022-12-300
Prefunding balanced used to offset prior years funding requirement2022-12-300
Amount remaining of carryover balance2022-12-300
Amount remaining of prefunding balance2022-12-300
Present value of excess contributions2022-12-302,545
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-302,545
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-300
Reductions in caryover balances due to elections or deemed elections2022-12-300
Reductions in prefunding balances due to elections or deemed elections2022-12-300
Balance of carryovers at beginning of current year2022-12-300
Balance of prefunding at beginning of current year2022-12-300
Total employer contributions2022-12-30216,000
Total employee contributions2022-12-300
Contributions allocated toward unpaid minimum require contributions from prior years2022-12-300
Contributions made to avoid restrictions adjusted to valuation date2022-12-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-12-30213,807
Unpaid minimum required contributions for all prior years2022-12-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-12-300
Remaining amount of unpaid minimum required contributions2022-12-300
Minimum required contributions for current year target normal cost2022-12-30194,024
Net shortfall amortization installment of oustanding balance2022-12-30101,062
Waiver amortization installment2022-12-300
Total funding amount beforereflecting carryover/prefunding balances2022-12-30212,808
Additional cash requirement2022-12-30212,808
Contributions allocatedtoward minimum required contributions for current year2022-12-30213,807
Unpaid minimum required contributions for current year2022-12-300
Unpaid minimum required contributions for all years2022-12-300

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