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LIFETIME DENTAL CLINIC, INC. CASH BALANCE PLAN 401k Plan overview

Plan NameLIFETIME DENTAL CLINIC, INC. CASH BALANCE PLAN
Plan identification number 003

LIFETIME DENTAL CLINIC, INC. 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).
  • 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

LIFETIME DENTAL CLINIC, INC. has sponsored the creation of one or more 401k plans.

Company Name:LIFETIME DENTAL CLINIC, INC.
Employer identification number (EIN):813603289
NAIC Classification:621210
NAIC Description:Offices of Dentists

Form 5500 Filing Information

Submission information for form 5500 for 401k plan LIFETIME DENTAL CLINIC, INC. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032020-01-01D. LANCE JOHNSON, DDS2021-06-19
0032020-01-01D. LANCE JOHNSON, DDS2021-06-06
0032019-01-01D. LANCE JOHNSON, DDS2020-07-25
0032019-01-01D. LANCE JOHNSON, DDS2020-10-09
0032018-01-01D. LANCE JOHNSON, DDS2019-10-09

Plan Statistics for LIFETIME DENTAL CLINIC, INC. CASH BALANCE PLAN

401k plan membership statisitcs for LIFETIME DENTAL CLINIC, INC. CASH BALANCE PLAN

Measure Date Value
2020: LIFETIME DENTAL CLINIC, INC. CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-31402,028
Acturial value of plan assets2020-12-31402,028
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-314
Fundng target for terminated vested participants2020-12-315,138
Active participant vested funding target2020-12-31362,371
Number of active participants2020-12-3119
Total funding liabilities for active participants2020-12-31362,271
Total participant count2020-12-3123
Total funding target for all participants2020-12-31367,409
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-310
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 balance2020-12-310
Present value of excess contributions2020-12-31275
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-31290
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 year2020-12-310
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
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 cost2020-12-311,547
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-310
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: LIFETIME DENTAL CLINIC, INC. CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-31268,671
Acturial value of plan assets2019-12-31268,671
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-311
Fundng target for terminated vested participants2019-12-311,730
Active participant vested funding target2019-12-31271,788
Number of active participants2019-12-3128
Total funding liabilities for active participants2019-12-31273,916
Total participant count2019-12-3129
Total funding target for all participants2019-12-31275,646
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-310
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 balance2019-12-310
Present value of excess contributions2019-12-3124,693
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-3126,068
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 year2019-12-310
Total employer contributions2019-12-3196,952
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 date2019-12-3189,686
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 cost2019-12-3188,278
Net shortfall amortization installment of oustanding balance2019-12-316,975
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-3189,411
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-3189,411
Contributions allocatedtoward minimum required contributions for current year2019-12-3189,686
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: LIFETIME DENTAL CLINIC, INC. CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-31183,738
Acturial value of plan assets2018-12-31183,738
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-311
Fundng target for terminated vested participants2018-12-311,598
Active participant vested funding target2018-12-31166,037
Number of active participants2018-12-3118
Total funding liabilities for active participants2018-12-31167,461
Total participant count2018-12-3119
Total funding target for all participants2018-12-31169,059
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 contributions2018-12-3121,672
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-3121,672
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-310
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 contributions2018-12-3198,343
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 date2018-12-3192,435
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 cost2018-12-3182,421
Net shortfall amortization installment of oustanding balance2018-12-310
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-3167,742
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-3167,742
Contributions allocatedtoward minimum required contributions for current year2018-12-3192,435
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310

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