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AGHA MEDICAL INC. DEFINED BENEFIT PLAN 401k Plan overview

Plan NameAGHA MEDICAL INC. DEFINED BENEFIT PLAN
Plan identification number 001

AGHA MEDICAL INC. DEFINED BENEFIT PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • 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

AGHA MEDICAL INC. has sponsored the creation of one or more 401k plans.

Company Name:AGHA MEDICAL INC.
Employer identification number (EIN):300046596
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan AGHA MEDICAL INC. DEFINED BENEFIT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012020-01-01
0012019-01-01
0012018-01-01
0012017-01-01
0012016-01-01
0012015-01-01
0012014-01-01AHMAD KASEM AGHA2015-10-14 AHMAD KASEM AGHA2015-10-14
0012013-01-01AHMAD KASEM AGHA2014-10-13 AHMAD KASEM AGHA2014-10-13
0012012-01-01AHMAD AGHA2013-10-11 AHMAD AGHA2013-10-11
0012010-01-01AHMAD AGHA AHMAD AGHA2011-10-13

Plan Statistics for AGHA MEDICAL INC. DEFINED BENEFIT PLAN

401k plan membership statisitcs for AGHA MEDICAL INC. DEFINED BENEFIT PLAN

Measure Date Value
2019: AGHA MEDICAL INC. DEFINED BENEFIT PLAN 2019 401k membership
Market value of plan assets2019-12-312,733,044
Acturial value of plan assets2019-12-312,733,044
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-313
Fundng target for terminated vested participants2019-12-317,760
Active participant vested funding target2019-12-312,779,477
Number of active participants2019-12-3115
Total funding liabilities for active participants2019-12-312,792,346
Total participant count2019-12-3118
Total funding target for all participants2019-12-312,800,106
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 contributions2019-12-31114,658
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-31114,658
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-31114,658
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 year2019-12-31114,658
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
Liquidity shortfalls end of Q12019-12-310
Liquidity shortfalls end of Q22019-12-310
Liquidity shortfalls end of Q32019-12-310
Liquidity shortfalls end of Q42019-12-310
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 cost2019-12-3158,666
Net shortfall amortization installment of oustanding balance2019-12-31181,720
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-3187,243
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-3187,243
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: AGHA MEDICAL INC. DEFINED BENEFIT PLAN 2018 401k membership
Market value of plan assets2018-12-312,280,442
Acturial value of plan assets2018-12-312,280,442
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-313
Fundng target for terminated vested participants2018-12-317,377
Active participant vested funding target2018-12-312,350,774
Number of active participants2018-12-3113
Total funding liabilities for active participants2018-12-312,360,824
Total participant count2018-12-3116
Total funding target for all participants2018-12-312,368,201
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 contributions2018-12-31120,871
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-31120,871
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 contributions2018-12-31470,000
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 date2018-12-31452,535
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 cost2018-12-31323,550
Net shortfall amortization installment of oustanding balance2018-12-3187,759
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31337,877
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-31337,877
Contributions allocatedtoward minimum required contributions for current year2018-12-31452,535
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: AGHA MEDICAL INC. DEFINED BENEFIT PLAN 2017 401k membership
Market value of plan assets2017-12-312,211,076
Acturial value of plan assets2017-12-312,211,076
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-312
Fundng target for terminated vested participants2017-12-313,226
Active participant vested funding target2017-12-311,659,246
Number of active participants2017-12-318
Total funding liabilities for active participants2017-12-311,682,394
Total participant count2017-12-3110
Total funding target for all participants2017-12-311,685,620
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 contributions2017-12-31340,134
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-31340,134
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 contributions2017-12-31126,000
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 date2017-12-31120,871
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 cost2017-12-31328,735
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 year2017-12-31120,871
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: AGHA MEDICAL INC. DEFINED BENEFIT PLAN 2016 401k membership
Market value of plan assets2016-12-311,504,214
Acturial value of plan assets2016-12-311,504,214
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-311
Fundng target for terminated vested participants2016-12-31537
Active participant vested funding target2016-12-311,251,096
Number of active participants2016-12-3111
Total funding liabilities for active participants2016-12-311,272,136
Total participant count2016-12-3112
Total funding target for all participants2016-12-311,272,673
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 contributions2016-12-31323,907
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-31323,907
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 contributions2016-12-31400,000
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 date2016-12-31383,462
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 cost2016-12-31274,869
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 balances2016-12-3143,328
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-3143,328
Contributions allocatedtoward minimum required contributions for current year2016-12-31383,462
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310
2010: AGHA MEDICAL INC. DEFINED BENEFIT PLAN 2010 401k membership
Total participants, beginning-of-year2010-01-013
Total number of active participants reported on line 7a of the Form 55002010-01-013
Number of retired or separated participants receiving benefits2010-01-010
Number of other retired or separated participants entitled to future benefits2010-01-010
Total of all active and inactive participants2010-01-013
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-010
Total participants2010-01-013
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-010

Financial Data on AGHA MEDICAL INC. DEFINED BENEFIT PLAN

Measure Date Value
2011 : AGHA MEDICAL INC. DEFINED BENEFIT PLAN 2011 401k financial data
Total plan liabilities at beginning of year2011-12-31$0
Total income from all sources2011-12-31$251,673
Expenses. Total of all expenses incurred2011-12-31$0
Total plan assets at end of year2011-12-31$504,926
Total plan assets at beginning of year2011-12-31$253,253
Other income received2011-12-31$-17,234
Net income (gross income less expenses)2011-12-31$251,673
Net plan assets at end of year (total assets less liabilities)2011-12-31$504,926
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$253,253
Total contributions received or receivable from employer(s)2011-12-31$268,907
2010 : AGHA MEDICAL INC. DEFINED BENEFIT PLAN 2010 401k financial data
Transfers to/from the plan2010-12-31$0
Total plan liabilities at end of year2010-12-31$0
Total plan liabilities at beginning of year2010-12-31$0
Total income from all sources2010-12-31$157,992
Expenses. Total of all expenses incurred2010-12-31$0
Benefits paid (including direct rollovers)2010-12-31$0
Total plan assets at end of year2010-12-31$253,253
Total plan assets at beginning of year2010-12-31$95,261
Total contributions received or receivable from participants2010-12-31$0
Expenses. Other expenses not covered elsewhere2010-12-31$0
Contributions received from other sources (not participants or employers)2010-12-31$0
Other income received2010-12-31$-29,244
Noncash contributions received2010-12-31$0
Net income (gross income less expenses)2010-12-31$157,992
Net plan assets at end of year (total assets less liabilities)2010-12-31$253,253
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$95,261
Total contributions received or receivable from employer(s)2010-12-31$187,236
Value of certain deemed distributions of participant loans2010-12-31$0
Value of corrective distributions2010-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-31$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0

Form 5500 Responses for AGHA MEDICAL INC. DEFINED BENEFIT PLAN

2010: AGHA MEDICAL INC. DEFINED BENEFIT PLAN 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedYes
2010-01-01This submission is the final filingNo
2010-01-01This return/report is a short plan year return/report (less than 12 months)No
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – InsuranceYes
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement – InsuranceYes
2010-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PACIFIC LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 67466 )
Policy contract numberVF51950340
Policy instance 1
Insurance contract or identification numberVF51950340
Number of Individuals Covered2
Insurance policy start date2010-01-01
Insurance policy end date2010-12-31
Total amount of commissions paid to insurance brokerUSD $66,202
Total amount of fees paid to insurance companyUSD $0
Commission paid to Insurance BrokerUSD $49,225
Insurance broker organization code?3
Insurance broker nameSHARIF A. SHARIF

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