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BARBOUR ORTHOPAEDICS & SPORTS MEDICINE, P.C. 401(K) PLAN 401k Plan overview

Plan NameBARBOUR ORTHOPAEDICS & SPORTS MEDICINE, P.C. 401(K) PLAN
Plan identification number 003

BARBOUR ORTHOPAEDICS & SPORTS MEDICINE, P.C. 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • 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
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • 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.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • 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

BARBOUR ORTHOPAEDICS & SPORTS MEDICINE, P.C. has sponsored the creation of one or more 401k plans.

Company Name:BARBOUR ORTHOPAEDICS & SPORTS MEDICINE, P.C.
Employer identification number (EIN):264429937
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BARBOUR ORTHOPAEDICS & SPORTS MEDICINE, P.C. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032023-01-01LORI RIORDAN2024-09-05
0032022-01-01GAVIN GOODLIFE2023-10-24 GAVIN GOODLIFE2023-10-24
0032021-01-01JOSEPH SCHAEFER2022-03-15
0032020-01-01JOSEPH SCHAEFER2021-07-22
0032019-01-01
0032018-01-01
0032017-01-01
0032017-01-01

Plan Statistics for BARBOUR ORTHOPAEDICS & SPORTS MEDICINE, P.C. 401(K) PLAN

401k plan membership statisitcs for BARBOUR ORTHOPAEDICS & SPORTS MEDICINE, P.C. 401(K) PLAN

Measure Date Value
2022: BARBOUR ORTHOPAEDICS & SPORTS MEDICINE, P.C. 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01154
Total number of active participants reported on line 7a of the Form 55002022-01-01158
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-0110
Total of all active and inactive participants2022-01-01168
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01168
Number of participants with account balances2022-01-0187
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-0116

Financial Data on BARBOUR ORTHOPAEDICS & SPORTS MEDICINE, P.C. 401(K) PLAN

Measure Date Value
2022 : BARBOUR ORTHOPAEDICS & SPORTS MEDICINE, P.C. 401(K) PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total income from all sources (including contributions)2022-12-31$23,852
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$230,420
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$202,727
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$663,064
Value of total assets at end of year2022-12-31$3,205,212
Value of total assets at beginning of year2022-12-31$3,411,780
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$27,693
Total interest from all sources2022-12-31$447
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$1,343
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2022-12-31$1,343
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$500,000
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$409,747
Participant contributions at end of year2022-12-31$6,011
Participant contributions at beginning of year2022-12-31$10,346
Participant contributions at end of year2022-12-31$10,050
Participant contributions at beginning of year2022-12-31$16,716
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$17,263
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-206,568
Value of net assets at end of year (total assets less liabilities)2022-12-31$3,205,212
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$3,411,780
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-12-31$208,345
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$180,870
Value of interest in pooled separate accounts at end of year2022-12-31$115,359
Value of interest in pooled separate accounts at beginning of year2022-12-31$78,730
Interest on participant loans2022-12-31$447
Value of interest in common/collective trusts at end of year2022-12-31$2,855,647
Value of interest in common/collective trusts at beginning of year2022-12-31$3,118,139
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-30,407
Net investment gain/loss from pooled separate accounts2022-12-31$-34,760
Net investment gain or loss from common/collective trusts2022-12-31$-575,835
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31Yes
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$236,054
Employer contributions (assets) at end of year2022-12-31$9,800
Employer contributions (assets) at beginning of year2022-12-31$6,979
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$202,727
Contract administrator fees2022-12-31$27,693
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31WINDHAM BRANNON, LLC
Accountancy firm EIN2022-12-31581763439

Form 5500 Responses for BARBOUR ORTHOPAEDICS & SPORTS MEDICINE, P.C. 401(K) PLAN

2022: BARBOUR ORTHOPAEDICS & SPORTS MEDICINE, P.C. 401(K) PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number820036
Policy instance 1
Insurance contract or identification number820036
Number of Individuals Covered168
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $489
Total amount of fees paid to insurance companyUSD $0
Are there contracts with allocated funds for individual policies?0
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?No
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $489
Amount paid for insurance broker fees0
Insurance broker organization code?3
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number467968
Policy instance 2
Insurance contract or identification number467968
Number of Individuals Covered168
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Are there contracts with allocated funds for individual policies?0
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No

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