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PRIME MEDIC, P.A. CASH BALANCE PLAN 401k Plan overview

Plan NamePRIME MEDIC, P.A. CASH BALANCE PLAN
Plan identification number 002

PRIME MEDIC, P.A. CASH BALANCE PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • 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).
  • 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

PRIME MEDIC, P.A. has sponsored the creation of one or more 401k plans.

Company Name:PRIME MEDIC, P.A.
Employer identification number (EIN):760586988
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Additional information about PRIME MEDIC, P.A.

Jurisdiction of Incorporation: Texas Secretary of State
Incorporation Date: 1999-11-17
Company Identification Number: 0082067803
Legal Registered Office Address: 213 S COLLEGE AVE

CLEVELAND
United States of America (USA)
77327

More information about PRIME MEDIC, P.A.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PRIME MEDIC, P.A. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01SREENIVASULU CHERLO2024-09-27 SREENIVASULU CHERLO2024-09-27
0022022-01-01SREENIVASULU CHERLO2023-09-26 SREENIVASULU CHERLO2023-09-26
0022021-01-01SREENIVASULU CHERLO2022-09-19 SREENIVASULU CHERLO2022-09-19
0022020-01-01SREENIVASULU CHERLO2021-10-05 SREENIVASULU CHERLO2021-10-05
0022019-01-01SREENIVASULU CHERLO2020-09-21 SREENIVASULU CHERLO2020-09-21
0022018-01-01SREENIVASULU CHERLO2019-09-24 SREENIVASULU CHERLO2019-09-24
0022017-01-01SREENIVASULU CHERLO2018-10-10 SREENIVASULU CHERLO2018-10-10
0022016-01-01SREENIVASULU CHERLO2017-09-27 SREENIVASULU CHERLO2017-09-27
0022016-01-01SREENIVASULU CHERLO2017-11-07 SREENIVASULU CHERLO2017-11-07
0022015-01-01SREENIVASULU CHERLO2016-09-29 SREENIVASULU CHERLO2016-09-29

Plan Statistics for PRIME MEDIC, P.A. CASH BALANCE PLAN

401k plan membership statisitcs for PRIME MEDIC, P.A. CASH BALANCE PLAN

Measure Date Value
2022: PRIME MEDIC, P.A. CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-311,085,485
Acturial value of plan assets2022-12-311,085,485
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-314
Fundng target for terminated vested participants2022-12-3112,005
Active participant vested funding target2022-12-311,053,442
Number of active participants2022-12-3114
Total funding liabilities for active participants2022-12-311,053,754
Total participant count2022-12-3118
Total funding target for all participants2022-12-311,065,759
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 contributions2022-12-31139,105
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31139,105
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 contributions2022-12-31142,993
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 date2022-12-31138,077
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 cost2022-12-31131,341
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-31111,615
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-31111,615
Contributions allocatedtoward minimum required contributions for current year2022-12-31138,077
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: PRIME MEDIC, P.A. CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-311,090,951
Acturial value of plan assets2021-12-311,090,951
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-311
Fundng target for terminated vested participants2021-12-311,940
Active participant vested funding target2021-12-31869,198
Number of active participants2021-12-3116
Total funding liabilities for active participants2021-12-31869,198
Total participant count2021-12-3117
Total funding target for all participants2021-12-31871,138
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 contributions2021-12-31139,518
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-31139,518
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 contributions2021-12-31144,237
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 date2021-12-31139,105
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 cost2021-12-31129,200
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 year2021-12-31139,105
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: PRIME MEDIC, P.A. CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-31832,470
Acturial value of plan assets2020-12-31832,470
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-310
Fundng target for terminated vested participants2020-12-310
Active participant vested funding target2020-12-31693,055
Number of active participants2020-12-3115
Total funding liabilities for active participants2020-12-31693,055
Total participant count2020-12-3115
Total funding target for all participants2020-12-31693,055
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 contributions2020-12-3197,792
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-3197,792
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 contributions2020-12-31142,420
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 date2020-12-31139,518
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 cost2020-12-31124,726
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-310
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-310
Contributions allocatedtoward minimum required contributions for current year2020-12-31139,518
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: PRIME MEDIC, P.A. CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-31627,849
Acturial value of plan assets2019-12-31627,849
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 target2019-12-31541,663
Number of active participants2019-12-3113
Total funding liabilities for active participants2019-12-31541,663
Total participant count2019-12-3113
Total funding target for all participants2019-12-31541,663
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 contributions2019-12-3160,694
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-3160,694
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 contributions2019-12-31141,086
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 date2019-12-31136,028
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 cost2019-12-31124,422
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-3138,236
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-3138,236
Contributions allocatedtoward minimum required contributions for current year2019-12-31136,028
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: PRIME MEDIC, P.A. CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-31432,567
Acturial value of plan assets2018-12-31432,567
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-312
Fundng target for terminated vested participants2018-12-31738
Active participant vested funding target2018-12-31386,101
Number of active participants2018-12-3110
Total funding liabilities for active participants2018-12-31386,101
Total participant count2018-12-3112
Total funding target for all participants2018-12-31386,839
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 contributions2018-12-3196,765
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-3196,765
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 contributions2018-12-31139,789
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 date2018-12-31134,672
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 cost2018-12-31119,706
Net shortfall amortization installment of oustanding balance2018-12-310
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-3173,978
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-3173,978
Contributions allocatedtoward minimum required contributions for current year2018-12-31134,672
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: PRIME MEDIC, P.A. CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-12-31318,973
Acturial value of plan assets2017-12-31318,973
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-311
Fundng target for terminated vested participants2017-12-31218
Active participant vested funding target2017-12-31242,363
Number of active participants2017-12-3112
Total funding liabilities for active participants2017-12-31242,363
Total participant count2017-12-3113
Total funding target for all participants2017-12-31242,581
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 contributions2017-12-3158,860
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-3158,860
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 contributions2017-12-31141,906
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 date2017-12-31137,233
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 cost2017-12-31116,860
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-3140,468
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-3140,468
Contributions allocatedtoward minimum required contributions for current year2017-12-31137,233
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310
2016: PRIME MEDIC, P.A. CASH BALANCE PLAN 2016 401k membership
Market value of plan assets2016-12-31150,370
Acturial value of plan assets2016-12-31150,370
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-310
Fundng target for terminated vested participants2016-12-310
Active participant vested funding target2016-12-310
Number of active participants2016-12-319
Total funding liabilities for active participants2016-12-31114,148
Total participant count2016-12-319
Total funding target for all participants2016-12-31114,148
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 contributions2016-12-3131,079
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-3131,079
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 contributions2016-12-31138,468
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 date2016-12-31133,015
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 cost2016-12-31110,377
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 balances2016-12-3174,155
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-3174,155
Contributions allocatedtoward minimum required contributions for current year2016-12-31133,015
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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