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HEALTH COALITION, INC. CASH BALANCE PLAN 401k Plan overview

Plan NameHEALTH COALITION, INC. CASH BALANCE PLAN
Plan identification number 003

HEALTH COALITION, INC. CASH BALANCE 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).
  • Floor-offset plan - Plan benefits are subject to offset for retirement benefits provided by an employer-sponsored defined contribution plan.

401k Sponsoring company profile

HEALTH COALITION, INC. has sponsored the creation of one or more 401k plans.

Company Name:HEALTH COALITION, INC.
Employer identification number (EIN):650068208
NAIC Classification:424210
NAIC Description:Drugs and Druggists' Sundries Merchant Wholesalers

Additional information about HEALTH COALITION, INC.

Jurisdiction of Incorporation: Florida Department of State Division of Corporations
Incorporation Date: 1988-08-04
Company Identification Number: K30186
Legal Registered Office Address: 8320 NW 30TH TERRACE

DORAL

33122

More information about HEALTH COALITION, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan HEALTH COALITION, INC. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032023-01-01PATRICIA VARNEY2024-02-26
0032022-01-01PATRICIA VARNEY2023-08-18
0032021-01-01PATRICIA VARNEY2022-10-05
0032020-01-01PATRICIA VARNEY2021-08-18
0032019-01-01PATRICIA VARNEY2020-07-07

Plan Statistics for HEALTH COALITION, INC. CASH BALANCE PLAN

401k plan membership statisitcs for HEALTH COALITION, INC. CASH BALANCE PLAN

Measure Date Value
2022: HEALTH COALITION, INC. CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-311,918,949
Acturial value of plan assets2022-12-311,918,949
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-310
Fundng target for terminated vested participants2022-12-310
Active participant vested funding target2022-12-311,758,797
Number of active participants2022-12-3114
Total funding liabilities for active participants2022-12-311,758,797
Total participant count2022-12-3114
Total funding target for all participants2022-12-311,758,797
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 contributions2022-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-310
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 contributions2022-12-31498,864
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 date2022-12-31484,102
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 cost2022-12-31500,231
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-31340,079
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-31340,079
Contributions allocatedtoward minimum required contributions for current year2022-12-31484,102
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: HEALTH COALITION, INC. CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-312,239,055
Acturial value of plan assets2021-12-312,239,055
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-310
Fundng target for terminated vested participants2021-12-310
Active participant vested funding target2021-12-311,201,098
Number of active participants2021-12-3117
Total funding liabilities for active participants2021-12-311,201,098
Total participant count2021-12-3117
Total funding target for all participants2021-12-311,201,098
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 contributions2021-12-31904,825
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-31904,825
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 contributions2021-12-310
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 date2021-12-310
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 cost2021-12-31397,556
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-310
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-310
Contributions allocatedtoward minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: HEALTH COALITION, INC. CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-311,944,225
Acturial value of plan assets2020-12-311,944,225
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-311
Fundng target for terminated vested participants2020-12-31668,479
Active participant vested funding target2020-12-31776,835
Number of active participants2020-12-3114
Total funding liabilities for active participants2020-12-31776,835
Total participant count2020-12-3115
Total funding target for all participants2020-12-311,445,314
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 contributions2020-12-31416,555
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-31416,555
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 contributions2020-12-311,181,958
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 date2020-12-311,144,302
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 cost2020-12-31738,388
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-31239,477
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-31239,477
Contributions allocatedtoward minimum required contributions for current year2020-12-311,144,302
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: HEALTH COALITION, INC. CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-31964,498
Acturial value of plan assets2019-12-31964,498
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 participants2019-12-3114
Total funding liabilities for active participants2019-12-31682,795
Total participant count2019-12-3114
Total funding target for all participants2019-12-31682,795
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 contributions2019-12-31829,392
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-31829,392
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 contributions2019-12-31853,826
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 date2019-12-31850,256
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 cost2019-12-31715,404
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31433,701
Additional cash requirement2019-12-31433,701
Contributions allocatedtoward minimum required contributions for current year2019-12-31850,256
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310

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