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CANDELA SYSTEMS CORP. CASH BALANCE PENSION PLAN 401k Plan overview

Plan NameCANDELA SYSTEMS CORP. CASH BALANCE PENSION PLAN
Plan identification number 002

CANDELA SYSTEMS CORP. CASH BALANCE PENSION 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).
  • 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).
  • Profit-sharing
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • 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

CANDELA SYSTEMS CORP. has sponsored the creation of one or more 401k plans.

Company Name:CANDELA SYSTEMS CORP.
Employer identification number (EIN):133785885
NAIC Classification:238210
NAIC Description:Electrical Contractors and Other Wiring Installation Contractors

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CANDELA SYSTEMS CORP. CASH BALANCE PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022020-01-01MAUREEN JACOBSON2021-10-07
0022019-01-01MAUREEN JACOBSON2020-10-12 JAMES BERNARDO2020-10-12
0022018-01-01MAUREEN JACOBSON2019-10-15 JAMES BERNARDO2019-10-15
0022017-01-01MAUREEN JACOBSON2018-10-12 JAMES S BERNARDO2018-10-12
0022016-01-01MAUREEN JACOBSON2017-10-11
0022015-01-01JAMES BERNARDO2016-10-11 JAMES BERNARDO2016-10-11
0022014-01-01JAMES BERNARDO2015-10-15 JAMES BERNARDO2015-10-15
0022013-01-01JAMES BERNARDO2014-10-06 JAMES BERNARDO2014-10-06
0022011-01-01JAMES BERNARDO2012-10-12
0022010-01-01JAMES BERNARDO2011-10-26

Plan Statistics for CANDELA SYSTEMS CORP. CASH BALANCE PENSION PLAN

401k plan membership statisitcs for CANDELA SYSTEMS CORP. CASH BALANCE PENSION PLAN

Measure Date Value
2020: CANDELA SYSTEMS CORP. CASH BALANCE PENSION PLAN 2020 401k membership
Market value of plan assets2020-12-3183,015
Acturial value of plan assets2020-12-3183,015
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-314
Fundng target for terminated vested participants2020-12-313,650
Active participant vested funding target2020-12-3135,697
Number of active participants2020-12-314
Total funding liabilities for active participants2020-12-3135,697
Total participant count2020-12-318
Total funding target for all participants2020-12-3139,347
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 contributions2020-12-310
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 year2020-12-310
Total employer contributions2020-12-310
Total employee contributions2020-12-310
Unpaid minimum required contributions for all prior years2020-12-310
Remaining amount of unpaid minimum required contributions2020-12-310
Minimum required contributions for current year target normal cost2020-12-310
Net shortfall amortization installment of oustanding balance2020-12-310
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
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: CANDELA SYSTEMS CORP. CASH BALANCE PENSION PLAN 2019 401k membership
Market value of plan assets2019-12-31168,535
Acturial value of plan assets2019-12-31168,535
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-314
Fundng target for terminated vested participants2019-12-313,954
Active participant vested funding target2019-12-3190,548
Number of active participants2019-12-314
Total funding liabilities for active participants2019-12-3190,548
Total participant count2019-12-318
Total funding target for all participants2019-12-3194,502
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 contributions2019-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-310
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 contributions2019-12-310
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 cost2019-12-310
Net shortfall amortization installment of oustanding balance2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-310
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-310
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: CANDELA SYSTEMS CORP. CASH BALANCE PENSION PLAN 2018 401k membership
Market value of plan assets2018-12-31146,822
Acturial value of plan assets2018-12-31146,822
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-316
Fundng target for terminated vested participants2018-12-315,579
Active participant vested funding target2018-12-3177,039
Number of active participants2018-12-314
Total funding liabilities for active participants2018-12-3177,039
Total participant count2018-12-3110
Total funding target for all participants2018-12-3182,618
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 contributions2018-12-3124,964
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-3127,698
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 year2018-12-310
Total employer contributions2018-12-310
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 date2018-12-310
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 cost2018-12-310
Net shortfall amortization installment of oustanding balance2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-310
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-310
Contributions allocatedtoward minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: CANDELA SYSTEMS CORP. CASH BALANCE PENSION PLAN 2017 401k membership
Market value of plan assets2017-12-31121,274
Acturial value of plan assets2017-12-31121,274
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-316
Fundng target for terminated vested participants2017-12-315,145
Active participant vested funding target2017-12-3171,327
Number of active participants2017-12-314
Total funding liabilities for active participants2017-12-3171,327
Total participant count2017-12-3110
Total funding target for all participants2017-12-3176,472
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-310
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 balance2017-12-310
Present value of excess contributions2017-12-318,107
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-318,592
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 year2017-12-310
Total employer contributions2017-12-3125,548
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 date2017-12-3124,964
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 cost2017-12-310
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-310
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-310
Contributions allocatedtoward minimum required contributions for current year2017-12-3124,964
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: CANDELA SYSTEMS CORP. CASH BALANCE PENSION PLAN 2016 401k membership
Market value of plan assets2016-12-3196,252
Acturial value of plan assets2016-12-3196,252
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-316
Fundng target for terminated vested participants2016-12-312,794
Active participant vested funding target2016-12-3169,225
Number of active participants2016-12-314
Total funding liabilities for active participants2016-12-3169,225
Total participant count2016-12-3110
Total funding target for all participants2016-12-3172,019
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-310
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 balance2016-12-310
Present value of excess contributions2016-12-318,059
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-318,556
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 year2016-12-310
Total employer contributions2016-12-318,491
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 date2016-12-318,107
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 cost2016-12-310
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-310
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-310
Contributions allocatedtoward minimum required contributions for current year2016-12-318,107
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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