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LAKE REGION MEDICAL GROUP, P.A. PENSION PLAN 401k Plan overview

Plan NameLAKE REGION MEDICAL GROUP, P.A. PENSION PLAN
Plan identification number 006

LAKE REGION MEDICAL GROUP, P.A. PENSION 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).
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
  • Plan covered by PBGC that was terminated and closed out for PBGC purposes - Before the end of the plan year (or a prior plan year), (1) the plan terminated in a standard (or distress) termination and completed the distribution of plan assets in satisfaction of all benefit liabilities (or all ERISA Title IV benefits for distress termination); or (2) a trustee was appointed for a terminated plan pursuant to ERISA section 4042.
  • 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

LAKE REGION MEDICAL GROUP, P.A. has sponsored the creation of one or more 401k plans.

Company Name:LAKE REGION MEDICAL GROUP, P.A.
Employer identification number (EIN):272451481
NAIC Classification:621112
NAIC Description:Offices of Physicians, Mental Health Specialists

Form 5500 Filing Information

Submission information for form 5500 for 401k plan LAKE REGION MEDICAL GROUP, P.A. PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0062019-10-01LUCAS B. DRAXTEN2020-11-12 LUCAS B. DRAXTEN2020-11-12
0062018-10-01LUCAS B. DRAXTEN2020-07-06 LUCAS B. DRAXTEN2020-07-06
0062017-10-01LUKE DRAXTEN2019-04-24 LUKE DRAXTEN2019-04-24
0062016-10-01LUKE DRAXTEN2018-04-27 LUKE DRAXTEN2018-04-27
0062015-10-01JON GALE2017-06-22 JON GALE2017-06-22
0062014-10-01JON GALE2016-07-05 JON GALE2016-07-05
0062013-10-01TIMOTHY BERGIN2015-05-18 TIMOTHY BERGIN2015-05-18
0062012-10-01TIMOTHY BERGIN2014-07-08 TIMOTHY BERGIN2014-07-08
0062011-10-01TIMOTHY BERGIN CPA2013-07-11 TIMOTHY BERGIN CPA2013-07-11
0062010-10-01TIMOTHY BERGIN CPA2012-05-10 TIMOTHY BERGIN CPA2012-05-10
0062010-05-01JAY ROSS2011-04-21 JAY ROSS2011-04-21

Plan Statistics for LAKE REGION MEDICAL GROUP, P.A. PENSION PLAN

401k plan membership statisitcs for LAKE REGION MEDICAL GROUP, P.A. PENSION PLAN

Measure Date Value
2020: LAKE REGION MEDICAL GROUP, P.A. PENSION PLAN 2020 401k membership
Market value of plan assets2020-09-309,872,426
Acturial value of plan assets2020-09-309,872,426
Funding target for retired participants and beneficiaries receiving payment2020-09-300
Number of terminated vested participants2020-09-3012
Fundng target for terminated vested participants2020-09-301,189,812
Active participant vested funding target2020-09-307,210,263
Number of active participants2020-09-3049
Total funding liabilities for active participants2020-09-307,210,263
Total participant count2020-09-3061
Total funding target for all participants2020-09-308,400,075
Balance at beginning of prior year after applicable adjustments2020-09-300
Prefunding balance at beginning of prior year after applicable adjustments2020-09-300
Carryover balanced portion elected for use to offset prior years funding requirement2020-09-300
Prefunding balanced used to offset prior years funding requirement2020-09-300
Amount remaining of carryover balance2020-09-300
Amount remaining of prefunding balance2020-09-300
Present value of excess contributions2020-09-301,169,183
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-09-301,234,190
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-09-300
Reductions in caryover balances due to elections or deemed elections2020-09-300
Reductions in prefunding balances due to elections or deemed elections2020-09-300
Balance of carryovers at beginning of current year2020-09-300
Balance of prefunding at beginning of current year2020-09-300
Total employer contributions2020-09-3032,000
Total employee contributions2020-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2020-09-300
Contributions made to avoid restrictions adjusted to valuation date2020-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-09-3030,405
Unpaid minimum required contributions for all prior years2020-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-09-300
Remaining amount of unpaid minimum required contributions2020-09-300
Minimum required contributions for current year target normal cost2020-09-300
Net shortfall amortization installment of oustanding balance2020-09-300
Waiver amortization installment2020-09-300
Total funding amount beforereflecting carryover/prefunding balances2020-09-300
Carryover balance elected to use to offset funding requirement2020-09-300
Prefunding balance elected to use to offset funding requirement2020-09-300
Additional cash requirement2020-09-300
Contributions allocatedtoward minimum required contributions for current year2020-09-3030,405
Unpaid minimum required contributions for current year2020-09-300
Unpaid minimum required contributions for all years2020-09-300
2019: LAKE REGION MEDICAL GROUP, P.A. PENSION PLAN 2019 401k membership
Market value of plan assets2019-09-3011,159,351
Acturial value of plan assets2019-09-3011,159,351
Funding target for retired participants and beneficiaries receiving payment2019-09-300
Number of terminated vested participants2019-09-306
Fundng target for terminated vested participants2019-09-30734,854
Active participant vested funding target2019-09-308,785,513
Number of active participants2019-09-3051
Total funding liabilities for active participants2019-09-308,785,513
Total participant count2019-09-3057
Total funding target for all participants2019-09-309,520,367
Balance at beginning of prior year after applicable adjustments2019-09-300
Prefunding balance at beginning of prior year after applicable adjustments2019-09-300
Carryover balanced portion elected for use to offset prior years funding requirement2019-09-300
Prefunding balanced used to offset prior years funding requirement2019-09-300
Amount remaining of carryover balance2019-09-300
Amount remaining of prefunding balance2019-09-300
Present value of excess contributions2019-09-301,648,000
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-09-301,742,430
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-09-300
Reductions in caryover balances due to elections or deemed elections2019-09-300
Reductions in prefunding balances due to elections or deemed elections2019-09-300
Balance of carryovers at beginning of current year2019-09-300
Balance of prefunding at beginning of current year2019-09-300
Total employer contributions2019-09-301,216,966
Total employee contributions2019-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2019-09-300
Contributions made to avoid restrictions adjusted to valuation date2019-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-09-301,169,183
Unpaid minimum required contributions for all prior years2019-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-09-300
Remaining amount of unpaid minimum required contributions2019-09-300
Minimum required contributions for current year target normal cost2019-09-301,447,178
Net shortfall amortization installment of oustanding balance2019-09-300
Waiver amortization installment2019-09-300
Total funding amount beforereflecting carryover/prefunding balances2019-09-300
Carryover balance elected to use to offset funding requirement2019-09-300
Prefunding balance elected to use to offset funding requirement2019-09-300
Additional cash requirement2019-09-300
Contributions allocatedtoward minimum required contributions for current year2019-09-301,169,183
Unpaid minimum required contributions for current year2019-09-300
Unpaid minimum required contributions for all years2019-09-300
2018: LAKE REGION MEDICAL GROUP, P.A. PENSION PLAN 2018 401k membership
Market value of plan assets2018-09-3010,043,351
Acturial value of plan assets2018-09-3010,043,351
Funding target for retired participants and beneficiaries receiving payment2018-09-300
Number of terminated vested participants2018-09-303
Fundng target for terminated vested participants2018-09-30516,318
Active participant vested funding target2018-09-307,923,096
Number of active participants2018-09-3054
Total funding liabilities for active participants2018-09-307,923,096
Total participant count2018-09-3057
Total funding target for all participants2018-09-308,439,414
Balance at beginning of prior year after applicable adjustments2018-09-300
Prefunding balance at beginning of prior year after applicable adjustments2018-09-300
Carryover balanced portion elected for use to offset prior years funding requirement2018-09-300
Prefunding balanced used to offset prior years funding requirement2018-09-300
Amount remaining of carryover balance2018-09-300
Amount remaining of prefunding balance2018-09-300
Present value of excess contributions2018-09-301,454,546
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-09-301,540,655
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-09-300
Reductions in caryover balances due to elections or deemed elections2018-09-300
Reductions in prefunding balances due to elections or deemed elections2018-09-300
Balance of carryovers at beginning of current year2018-09-300
Balance of prefunding at beginning of current year2018-09-300
Total employer contributions2018-09-301,734,303
Total employee contributions2018-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2018-09-300
Contributions made to avoid restrictions adjusted to valuation date2018-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-09-301,648,000
Unpaid minimum required contributions for all prior years2018-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-09-300
Remaining amount of unpaid minimum required contributions2018-09-300
Minimum required contributions for current year target normal cost2018-09-301,459,237
Net shortfall amortization installment of oustanding balance2018-09-300
Waiver amortization installment2018-09-300
Total funding amount beforereflecting carryover/prefunding balances2018-09-300
Carryover balance elected to use to offset funding requirement2018-09-300
Prefunding balance elected to use to offset funding requirement2018-09-300
Additional cash requirement2018-09-300
Contributions allocatedtoward minimum required contributions for current year2018-09-301,648,000
Unpaid minimum required contributions for current year2018-09-300
Unpaid minimum required contributions for all years2018-09-300
2017: LAKE REGION MEDICAL GROUP, P.A. PENSION PLAN 2017 401k membership
Market value of plan assets2017-09-308,263,073
Acturial value of plan assets2017-09-308,263,073
Funding target for retired participants and beneficiaries receiving payment2017-09-300
Number of terminated vested participants2017-09-305
Fundng target for terminated vested participants2017-09-30474,437
Active participant vested funding target2017-09-306,547,681
Number of active participants2017-09-3049
Total funding liabilities for active participants2017-09-306,547,681
Total participant count2017-09-3054
Total funding target for all participants2017-09-307,022,118
Balance at beginning of prior year after applicable adjustments2017-09-300
Prefunding balance at beginning of prior year after applicable adjustments2017-09-300
Carryover balanced portion elected for use to offset prior years funding requirement2017-09-300
Prefunding balanced used to offset prior years funding requirement2017-09-300
Amount remaining of carryover balance2017-09-300
Amount remaining of prefunding balance2017-09-300
Present value of excess contributions2017-09-30957,225
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-09-301,015,329
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-09-300
Reductions in caryover balances due to elections or deemed elections2017-09-300
Reductions in prefunding balances due to elections or deemed elections2017-09-300
Balance of carryovers at beginning of current year2017-09-300
Balance of prefunding at beginning of current year2017-09-300
Total employer contributions2017-09-300
Total employee contributions2017-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2017-09-300
Contributions made to avoid restrictions adjusted to valuation date2017-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-09-301,647,654
Unpaid minimum required contributions for all prior years2017-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-09-300
Remaining amount of unpaid minimum required contributions2017-09-300
Minimum required contributions for current year target normal cost2017-09-301,434,063
Net shortfall amortization installment of oustanding balance2017-09-300
Waiver amortization installment2017-09-300
Total funding amount beforereflecting carryover/prefunding balances2017-09-30193,108
Carryover balance elected to use to offset funding requirement2017-09-300
Prefunding balance elected to use to offset funding requirement2017-09-300
Additional cash requirement2017-09-30193,108
Contributions allocatedtoward minimum required contributions for current year2017-09-301,647,654
Unpaid minimum required contributions for current year2017-09-300
Unpaid minimum required contributions for all years2017-09-300

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