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NEUROSURGICAL ASSOCIATES OF NEW JERSEY, P.C. CASH BALANCE PLAN 401k Plan overview

Plan NameNEUROSURGICAL ASSOCIATES OF NEW JERSEY, P.C. CASH BALANCE PLAN
Plan identification number 002

NEUROSURGICAL ASSOCIATES OF NEW JERSEY, 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).
  • 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

NEUROSURGICAL ASSOCIATES OF NJ PC has sponsored the creation of one or more 401k plans.

Company Name:NEUROSURGICAL ASSOCIATES OF NJ PC
Employer identification number (EIN):223020570
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan NEUROSURGICAL ASSOCIATES OF NEW JERSEY, P.C. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01SCOTT GALLETTI2023-10-16
0022021-01-01SCOTT GALLETTI2022-09-16
0022020-01-01SCOTT GALLETTI2021-10-13
0022019-01-01SCOTT GALLETTI2020-10-13

Plan Statistics for NEUROSURGICAL ASSOCIATES OF NEW JERSEY, P.C. CASH BALANCE PLAN

401k plan membership statisitcs for NEUROSURGICAL ASSOCIATES OF NEW JERSEY, P.C. CASH BALANCE PLAN

Measure Date Value
2022: NEUROSURGICAL ASSOCIATES OF NEW JERSEY, P.C. CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-313,644,442
Acturial value of plan assets2022-12-313,644,442
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-318
Fundng target for terminated vested participants2022-12-3149,960
Active participant vested funding target2022-12-313,403,899
Number of active participants2022-12-3198
Total funding liabilities for active participants2022-12-313,411,810
Total participant count2022-12-31106
Total funding target for all participants2022-12-313,461,770
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2022-12-310
Prefunding balanced used to offset prior years funding requirement2022-12-310
Amount remaining of carryover balance2022-12-310
Amount remaining of prefunding balance2022-12-310
Present value of excess contributions2022-12-31750,354
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31750,354
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 year2022-12-310
Total employer contributions2022-12-311,504,153
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 date2022-12-311,485,054
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 cost2022-12-311,105,693
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-31923,021
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-31923,021
Contributions allocatedtoward minimum required contributions for current year2022-12-311,485,054
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: NEUROSURGICAL ASSOCIATES OF NEW JERSEY, P.C. CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-312,688,881
Acturial value of plan assets2021-12-312,688,881
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-318
Fundng target for terminated vested participants2021-12-3121,876
Active participant vested funding target2021-12-312,136,582
Number of active participants2021-12-3189
Total funding liabilities for active participants2021-12-312,160,742
Total participant count2021-12-3197
Total funding target for all participants2021-12-312,182,618
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-310
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 balance2021-12-310
Present value of excess contributions2021-12-31484,675
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-31484,675
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 year2021-12-310
Total employer contributions2021-12-311,309,749
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 date2021-12-311,293,007
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 cost2021-12-311,048,916
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-31542,653
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-31542,653
Contributions allocatedtoward minimum required contributions for current year2021-12-311,293,007
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: NEUROSURGICAL ASSOCIATES OF NEW JERSEY, P.C. CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-311,339,185
Acturial value of plan assets2020-12-311,339,185
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-313
Fundng target for terminated vested participants2020-12-313,094
Active participant vested funding target2020-12-31943,150
Number of active participants2020-12-3181
Total funding liabilities for active participants2020-12-311,063,799
Total participant count2020-12-3184
Total funding target for all participants2020-12-311,066,893
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 contributions2020-12-31269,403
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-31269,403
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 contributions2020-12-311,267,457
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 date2020-12-311,262,955
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 cost2020-12-311,050,572
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-31778,280
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-31778,280
Contributions allocatedtoward minimum required contributions for current year2020-12-311,262,955
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: NEUROSURGICAL ASSOCIATES OF NEW JERSEY, P.C. CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-310
Acturial value of plan assets2019-12-310
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-310
Fundng target for terminated vested participants2019-12-310
Active participant vested funding target2019-12-310
Number of active participants2019-12-3178
Total funding liabilities for active participants2019-12-310
Total participant count2019-12-3178
Total funding target for all participants2019-12-310
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 contributions2019-12-311,265,702
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 date2019-12-311,253,142
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 cost2019-12-31983,739
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31983,739
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-31983,739
Contributions allocatedtoward minimum required contributions for current year2019-12-311,253,142
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310

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