401k Plan data: BUY-RITE DRUGS, INC. PENSION PLAN plan

BUY-RITE DRUGS, INC. PENSION PLAN 401k Plan overview

Plan Name	BUY-RITE DRUGS, INC. PENSION PLAN
Plan identification number	001

BUY-RITE DRUGS, INC. PENSION PLAN Benefits

401k Plan Type

Defined Benefit Pension

Plan Features/Benefits

Benefits are primarily pay related
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).
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

BUY-RITE DRUGS, INC. has sponsored the creation of one or more 401k plans.

Company Name: BUY-RITE DRUGS, INC.

Employer identification number (EIN): 630792453

NAIC Classification: 446110
NAIC Description: Pharmacies and Drug Stores

Additional information about BUY-RITE DRUGS, INC.

Jurisdiction of Incorporation: Alabama Secretary of State

Incorporation Date: 1980-07-02

Company Identification Number: 061-894

More information about BUY-RITE DRUGS, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BUY-RITE DRUGS, INC. PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
001 2020-01-01
001 2020-01-01
001 2019-01-01
001 2018-01-01
001 2017-01-01
001 2016-01-01
001 2015-01-01
001 2014-01-01
001 2013-01-01 MICHAEL STRICKLAND 2014-10-13

Plan Statistics for BUY-RITE DRUGS, INC. PENSION PLAN

401k plan membership statisitcs for BUY-RITE DRUGS, INC. PENSION PLAN

Measure Date Value
2018: BUY-RITE DRUGS, INC. PENSION PLAN 2018 401k membership
Market value of plan assets 2018-12-31 282,350
Acturial value of plan assets 2018-12-31 282,350
Funding target for retired participants and beneficiaries receiving payment 2018-12-31 0
Number of terminated vested participants 2018-12-31 1
Fundng target for terminated vested participants 2018-12-31 15,606
Active participant vested funding target 2018-12-31 411,026
Number of active participants 2018-12-31 10
Total funding liabilities for active participants 2018-12-31 563,615
Total participant count 2018-12-31 11
Total funding target for all participants 2018-12-31 579,221
Balance at beginning of prior year after applicable adjustments 2018-12-31 0
Prefunding balance at beginning of prior year after applicable adjustments 2018-12-31 0
Amount remaining of carryover balance 2018-12-31 0
Amount remaining of prefunding balance 2018-12-31 0
Present value of excess contributions 2018-12-31 0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2018-12-31 0
Balance of carryovers at beginning of current year 2018-12-31 0
Balance of prefunding at beginning of current year 2018-12-31 0
Total employer contributions 2018-12-31 0
Total employee contributions 2018-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2018-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2018-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2018-12-31 0
Unpaid minimum required contributions for all prior years 2018-12-31 305,550
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2018-12-31 0
Remaining amount of unpaid minimum required contributions 2018-12-31 305,550
Minimum required contributions for current year target normal cost 2018-12-31 0
Net shortfall amortization installment of oustanding balance 2018-12-31 296,871
Waiver amortization installment 2018-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2018-12-31 54,019
Additional cash requirement 2018-12-31 54,019
Contributions allocatedtoward minimum required contributions for current year 2018-12-31 0
Unpaid minimum required contributions for current year 2018-12-31 54,019
Unpaid minimum required contributions for all years 2018-12-31 359,569
2017: BUY-RITE DRUGS, INC. PENSION PLAN 2017 401k membership
Market value of plan assets 2017-12-31 269,480
Acturial value of plan assets 2017-12-31 269,480
Funding target for retired participants and beneficiaries receiving payment 2017-12-31 0
Number of terminated vested participants 2017-12-31 1
Fundng target for terminated vested participants 2017-12-31 14,267
Active participant vested funding target 2017-12-31 251,644
Number of active participants 2017-12-31 8
Total funding liabilities for active participants 2017-12-31 449,600
Total participant count 2017-12-31 9
Total funding target for all participants 2017-12-31 463,867
Balance at beginning of prior year after applicable adjustments 2017-12-31 0
Prefunding balance at beginning of prior year after applicable adjustments 2017-12-31 0
Carryover balanced portion elected for use to offset prior years funding requirement 2017-12-31 0
Prefunding balanced used to offset prior years funding requirement 2017-12-31 0
Amount remaining of carryover balance 2017-12-31 0
Amount remaining of prefunding balance 2017-12-31 0
Present value of excess contributions 2017-12-31 0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2017-12-31 0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2017-12-31 0
Reductions in caryover balances due to elections or deemed elections 2017-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2017-12-31 0
Balance of carryovers at beginning of current year 2017-12-31 0
Balance of prefunding at beginning of current year 2017-12-31 0
Total employer contributions 2017-12-31 0
Total employee contributions 2017-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2017-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2017-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2017-12-31 0
Unpaid minimum required contributions for all prior years 2017-12-31 163,756
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2017-12-31 0
Remaining amount of unpaid minimum required contributions 2017-12-31 163,756
Minimum required contributions for current year target normal cost 2017-12-31 108,364
Net shortfall amortization installment of oustanding balance 2017-12-31 194,387
Total funding amount beforereflecting carryover/prefunding balances 2017-12-31 141,794
Additional cash requirement 2017-12-31 141,794
Contributions allocatedtoward minimum required contributions for current year 2017-12-31 0
Unpaid minimum required contributions for current year 2017-12-31 141,794
Unpaid minimum required contributions for all years 2017-12-31 305,550
2016: BUY-RITE DRUGS, INC. PENSION PLAN 2016 401k membership
Market value of plan assets 2016-12-31 253,363
Acturial value of plan assets 2016-12-31 253,363
Funding target for retired participants and beneficiaries receiving payment 2016-12-31 0
Number of terminated vested participants 2016-12-31 1
Fundng target for terminated vested participants 2016-12-31 11,326
Active participant vested funding target 2016-12-31 125,580
Number of active participants 2016-12-31 4
Total funding liabilities for active participants 2016-12-31 319,709
Total participant count 2016-12-31 5
Total funding target for all participants 2016-12-31 331,035
Balance at beginning of prior year after applicable adjustments 2016-12-31 0
Prefunding balance at beginning of prior year after applicable adjustments 2016-12-31 0
Carryover balanced portion elected for use to offset prior years funding requirement 2016-12-31 0
Prefunding balanced used to offset prior years funding requirement 2016-12-31 0
Amount remaining of carryover balance 2016-12-31 0
Amount remaining of prefunding balance 2016-12-31 0
Present value of excess contributions 2016-12-31 0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2016-12-31 0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2016-12-31 0
Reductions in caryover balances due to elections or deemed elections 2016-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2016-12-31 0
Balance of carryovers at beginning of current year 2016-12-31 0
Balance of prefunding at beginning of current year 2016-12-31 0
Total employer contributions 2016-12-31 0
Total employee contributions 2016-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2016-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2016-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2016-12-31 0
Unpaid minimum required contributions for all prior years 2016-12-31 70,051
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2016-12-31 0
Remaining amount of unpaid minimum required contributions 2016-12-31 70,051
Minimum required contributions for current year target normal cost 2016-12-31 80,872
Net shortfall amortization installment of oustanding balance 2016-12-31 77,672
Total funding amount beforereflecting carryover/prefunding balances 2016-12-31 93,705
Additional cash requirement 2016-12-31 93,705
Contributions allocatedtoward minimum required contributions for current year 2016-12-31 0
Unpaid minimum required contributions for current year 2016-12-31 93,705
Unpaid minimum required contributions for all years 2016-12-31 163,756

Measure	Date	Value
2018: BUY-RITE DRUGS, INC. PENSION PLAN 2018 401k membership
Market value of plan assets	2018-12-31	282,350
Acturial value of plan assets	2018-12-31	282,350
Funding target for retired participants and beneficiaries receiving payment	2018-12-31	0
Number of terminated vested participants	2018-12-31	1
Fundng target for terminated vested participants	2018-12-31	15,606
Active participant vested funding target	2018-12-31	411,026
Number of active participants	2018-12-31	10
Total funding liabilities for active participants	2018-12-31	563,615
Total participant count	2018-12-31	11
Total funding target for all participants	2018-12-31	579,221
Balance at beginning of prior year after applicable adjustments	2018-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2018-12-31	0
Amount remaining of carryover balance	2018-12-31	0
Amount remaining of prefunding balance	2018-12-31	0
Present value of excess contributions	2018-12-31	0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2018-12-31	0
Balance of carryovers at beginning of current year	2018-12-31	0
Balance of prefunding at beginning of current year	2018-12-31	0
Total employer contributions	2018-12-31	0
Total employee contributions	2018-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2018-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2018-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2018-12-31	0
Unpaid minimum required contributions for all prior years	2018-12-31	305,550
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2018-12-31	0
Remaining amount of unpaid minimum required contributions	2018-12-31	305,550
Minimum required contributions for current year target normal cost	2018-12-31	0
Net shortfall amortization installment of oustanding balance	2018-12-31	296,871
Waiver amortization installment	2018-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2018-12-31	54,019
Additional cash requirement	2018-12-31	54,019
Contributions allocatedtoward minimum required contributions for current year	2018-12-31	0
Unpaid minimum required contributions for current year	2018-12-31	54,019
Unpaid minimum required contributions for all years	2018-12-31	359,569
2017: BUY-RITE DRUGS, INC. PENSION PLAN 2017 401k membership
Market value of plan assets	2017-12-31	269,480
Acturial value of plan assets	2017-12-31	269,480
Funding target for retired participants and beneficiaries receiving payment	2017-12-31	0
Number of terminated vested participants	2017-12-31	1
Fundng target for terminated vested participants	2017-12-31	14,267
Active participant vested funding target	2017-12-31	251,644
Number of active participants	2017-12-31	8
Total funding liabilities for active participants	2017-12-31	449,600
Total participant count	2017-12-31	9
Total funding target for all participants	2017-12-31	463,867
Balance at beginning of prior year after applicable adjustments	2017-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2017-12-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2017-12-31	0
Prefunding balanced used to offset prior years funding requirement	2017-12-31	0
Amount remaining of carryover balance	2017-12-31	0
Amount remaining of prefunding balance	2017-12-31	0
Present value of excess contributions	2017-12-31	0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2017-12-31	0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2017-12-31	0
Reductions in caryover balances due to elections or deemed elections	2017-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2017-12-31	0
Balance of carryovers at beginning of current year	2017-12-31	0
Balance of prefunding at beginning of current year	2017-12-31	0
Total employer contributions	2017-12-31	0
Total employee contributions	2017-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2017-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2017-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2017-12-31	0
Unpaid minimum required contributions for all prior years	2017-12-31	163,756
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2017-12-31	0
Remaining amount of unpaid minimum required contributions	2017-12-31	163,756
Minimum required contributions for current year target normal cost	2017-12-31	108,364
Net shortfall amortization installment of oustanding balance	2017-12-31	194,387
Total funding amount beforereflecting carryover/prefunding balances	2017-12-31	141,794
Additional cash requirement	2017-12-31	141,794
Contributions allocatedtoward minimum required contributions for current year	2017-12-31	0
Unpaid minimum required contributions for current year	2017-12-31	141,794
Unpaid minimum required contributions for all years	2017-12-31	305,550
2016: BUY-RITE DRUGS, INC. PENSION PLAN 2016 401k membership
Market value of plan assets	2016-12-31	253,363
Acturial value of plan assets	2016-12-31	253,363
Funding target for retired participants and beneficiaries receiving payment	2016-12-31	0
Number of terminated vested participants	2016-12-31	1
Fundng target for terminated vested participants	2016-12-31	11,326
Active participant vested funding target	2016-12-31	125,580
Number of active participants	2016-12-31	4
Total funding liabilities for active participants	2016-12-31	319,709
Total participant count	2016-12-31	5
Total funding target for all participants	2016-12-31	331,035
Balance at beginning of prior year after applicable adjustments	2016-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2016-12-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2016-12-31	0
Prefunding balanced used to offset prior years funding requirement	2016-12-31	0
Amount remaining of carryover balance	2016-12-31	0
Amount remaining of prefunding balance	2016-12-31	0
Present value of excess contributions	2016-12-31	0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2016-12-31	0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2016-12-31	0
Reductions in caryover balances due to elections or deemed elections	2016-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2016-12-31	0
Balance of carryovers at beginning of current year	2016-12-31	0
Balance of prefunding at beginning of current year	2016-12-31	0
Total employer contributions	2016-12-31	0
Total employee contributions	2016-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2016-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2016-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2016-12-31	0
Unpaid minimum required contributions for all prior years	2016-12-31	70,051
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2016-12-31	0
Remaining amount of unpaid minimum required contributions	2016-12-31	70,051
Minimum required contributions for current year target normal cost	2016-12-31	80,872
Net shortfall amortization installment of oustanding balance	2016-12-31	77,672
Total funding amount beforereflecting carryover/prefunding balances	2016-12-31	93,705
Additional cash requirement	2016-12-31	93,705
Contributions allocatedtoward minimum required contributions for current year	2016-12-31	0
Unpaid minimum required contributions for current year	2016-12-31	93,705
Unpaid minimum required contributions for all years	2016-12-31	163,756

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Company Name:	BUY-RITE DRUGS, INC.
Employer identification number (EIN):	630792453
NAIC Classification:	446110
NAIC Description:	Pharmacies and Drug Stores

Jurisdiction of Incorporation:	Alabama Secretary of State
Incorporation Date:	1980-07-02
Company Identification Number:	061-894

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed
001	2020-01-01
001	2020-01-01
001	2019-01-01
001	2018-01-01
001	2017-01-01
001	2016-01-01
001	2015-01-01
001	2014-01-01
001	2013-01-01	MICHAEL STRICKLAND	2014-10-13