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EYE SPECIALISTS OF WESTCHESTER, P.C. CASH BALANCE PLAN 401k Plan overview

Plan NameEYE SPECIALISTS OF WESTCHESTER, P.C. CASH BALANCE PLAN
Plan identification number 002

EYE SPECIALISTS OF WESTCHESTER, P.C. 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).

401k Sponsoring company profile

EYE SPECIALISTS OF WESTCHESTER, P.C. has sponsored the creation of one or more 401k plans.

Company Name:EYE SPECIALISTS OF WESTCHESTER, P.C.
Employer identification number (EIN):132949505
NAIC Classification:621320
NAIC Description:Offices of Optometrists

Additional information about EYE SPECIALISTS OF WESTCHESTER, P.C.

Jurisdiction of Incorporation: New York Department of State
Incorporation Date: 1978-08-25
Company Identification Number: 462985
Legal Registered Office Address: 150 MOTOR PKY SUITE 401
Westchester
HAUPPAUGE
United States of America (USA)
11788

More information about EYE SPECIALISTS OF WESTCHESTER, P.C.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan EYE SPECIALISTS OF WESTCHESTER, P.C. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-07-01BRADLEY SCHARF2023-12-23 BRADLEY SCHARF2023-12-23
0022021-07-01BRADLEY SCHARF2023-01-22 BRADLEY SCHARF2023-01-22
0022020-07-01BRADLEY SCHARF2021-08-14 BRADLEY SCHARF2021-08-14
0022019-07-01BRADLEY SCHARF2020-09-15
0022018-07-01BRADLEY SCHARF2020-03-02
0022017-07-01BRADLEY SCHARF2018-12-18 BRADLEY SCHARF2018-12-18
0022016-07-01BRADLEY SCHARF2018-01-22
0022015-07-01BRADLEY SCHARF2016-12-04 BRADLEY SCHARF2016-12-04
0022014-07-01BRADLEY SCHARF2015-12-12 BRADLEY SCHARF2015-12-12
0022013-07-01BRADLEY SCHARF2014-12-20 BRADLEY SCHARF2014-12-20
0022012-07-01BRADLEY SCHARF2013-10-06
0022011-07-01BRADLEY SCHARF2012-08-19
0022010-07-01BRADLEY SCHARF2011-08-16

Plan Statistics for EYE SPECIALISTS OF WESTCHESTER, P.C. CASH BALANCE PLAN

401k plan membership statisitcs for EYE SPECIALISTS OF WESTCHESTER, P.C. CASH BALANCE PLAN

Measure Date Value
2023: EYE SPECIALISTS OF WESTCHESTER, P.C. CASH BALANCE PLAN 2023 401k membership
Market value of plan assets2023-06-302,970,062
Acturial value of plan assets2023-06-302,970,062
Funding target for retired participants and beneficiaries receiving payment2023-06-300
Number of terminated vested participants2023-06-3010
Fundng target for terminated vested participants2023-06-3037,541
Active participant vested funding target2023-06-302,744,663
Number of active participants2023-06-304
Total funding liabilities for active participants2023-06-302,744,663
Total participant count2023-06-3014
Total funding target for all participants2023-06-302,782,204
Balance at beginning of prior year after applicable adjustments2023-06-300
Prefunding balance at beginning of prior year after applicable adjustments2023-06-30581,023
Carryover balanced portion elected for use to offset prior years funding requirement2023-06-300
Prefunding balanced used to offset prior years funding requirement2023-06-300
Amount remaining of carryover balance2023-06-300
Amount remaining of prefunding balance2023-06-30581,023
Present value of excess contributions2023-06-30145,978
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2023-06-30145,978
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2023-06-300
Reductions in caryover balances due to elections or deemed elections2023-06-300
Reductions in prefunding balances due to elections or deemed elections2023-06-300
Balance of carryovers at beginning of current year2023-06-300
Balance of prefunding at beginning of current year2023-06-30516,123
Total employer contributions2023-06-300
Total employee contributions2023-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2023-06-300
Contributions made to avoid restrictions adjusted to valuation date2023-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2023-06-300
Unpaid minimum required contributions for all prior years2023-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2023-06-300
Remaining amount of unpaid minimum required contributions2023-06-300
Minimum required contributions for current year target normal cost2023-06-30191,263
Net shortfall amortization installment of oustanding balance2023-06-30328,265
Total funding amount beforereflecting carryover/prefunding balances2023-06-30221,598
Carryover balance elected to use to offset funding requirement2023-06-300
Prefunding balance elected to use to offset funding requirement2023-06-30221,598
Additional cash requirement2023-06-300
Contributions allocatedtoward minimum required contributions for current year2023-06-300
Unpaid minimum required contributions for current year2023-06-300
Unpaid minimum required contributions for all years2023-06-300
2022: EYE SPECIALISTS OF WESTCHESTER, P.C. CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-06-303,185,215
Acturial value of plan assets2022-06-303,185,215
Funding target for retired participants and beneficiaries receiving payment2022-06-300
Number of terminated vested participants2022-06-305
Fundng target for terminated vested participants2022-06-3022,374
Active participant vested funding target2022-06-302,424,518
Number of active participants2022-06-309
Total funding liabilities for active participants2022-06-302,424,518
Total participant count2022-06-3014
Total funding target for all participants2022-06-302,446,892
Balance at beginning of prior year after applicable adjustments2022-06-300
Prefunding balance at beginning of prior year after applicable adjustments2022-06-30512,637
Carryover balanced portion elected for use to offset prior years funding requirement2022-06-300
Prefunding balanced used to offset prior years funding requirement2022-06-300
Amount remaining of carryover balance2022-06-300
Amount remaining of prefunding balance2022-06-30512,637
Present value of excess contributions2022-06-3021,689
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-06-3022,826
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-06-300
Reductions in caryover balances due to elections or deemed elections2022-06-300
Reductions in prefunding balances due to elections or deemed elections2022-06-300
Balance of carryovers at beginning of current year2022-06-300
Balance of prefunding at beginning of current year2022-06-30581,023
Total employer contributions2022-06-30180,000
Total employee contributions2022-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2022-06-300
Contributions made to avoid restrictions adjusted to valuation date2022-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-06-30178,010
Unpaid minimum required contributions for all prior years2022-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-06-300
Remaining amount of unpaid minimum required contributions2022-06-300
Minimum required contributions for current year target normal cost2022-06-30189,332
Net shortfall amortization installment of oustanding balance2022-06-300
Total funding amount beforereflecting carryover/prefunding balances2022-06-3032,032
Carryover balance elected to use to offset funding requirement2022-06-300
Prefunding balance elected to use to offset funding requirement2022-06-300
Additional cash requirement2022-06-3032,032
Contributions allocatedtoward minimum required contributions for current year2022-06-30178,010
Unpaid minimum required contributions for current year2022-06-300
Unpaid minimum required contributions for all years2022-06-300
2021: EYE SPECIALISTS OF WESTCHESTER, P.C. CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-06-302,628,540
Acturial value of plan assets2021-06-302,628,540
Funding target for retired participants and beneficiaries receiving payment2021-06-300
Number of terminated vested participants2021-06-304
Fundng target for terminated vested participants2021-06-3034,601
Active participant vested funding target2021-06-302,147,090
Number of active participants2021-06-3014
Total funding liabilities for active participants2021-06-302,147,090
Total participant count2021-06-3018
Total funding target for all participants2021-06-302,181,691
Balance at beginning of prior year after applicable adjustments2021-06-300
Prefunding balance at beginning of prior year after applicable adjustments2021-06-30482,982
Carryover balanced portion elected for use to offset prior years funding requirement2021-06-300
Prefunding balanced used to offset prior years funding requirement2021-06-300
Amount remaining of carryover balance2021-06-300
Amount remaining of prefunding balance2021-06-30482,982
Present value of excess contributions2021-06-3029,274
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-06-3030,846
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-06-300
Reductions in caryover balances due to elections or deemed elections2021-06-300
Reductions in prefunding balances due to elections or deemed elections2021-06-300
Balance of carryovers at beginning of current year2021-06-300
Balance of prefunding at beginning of current year2021-06-30512,637
Total employer contributions2021-06-30216,806
Total employee contributions2021-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2021-06-300
Contributions made to avoid restrictions adjusted to valuation date2021-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-06-30212,969
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-06-300
Remaining amount of unpaid minimum required contributions2021-06-300
Minimum required contributions for current year target normal cost2021-06-30191,280
Net shortfall amortization installment of oustanding balance2021-06-300
Total funding amount beforereflecting carryover/prefunding balances2021-06-30191,280
Carryover balance elected to use to offset funding requirement2021-06-300
Prefunding balance elected to use to offset funding requirement2021-06-300
Additional cash requirement2021-06-30191,280
Contributions allocatedtoward minimum required contributions for current year2021-06-30212,969
Unpaid minimum required contributions for current year2021-06-300
Unpaid minimum required contributions for all years2021-06-300
2020: EYE SPECIALISTS OF WESTCHESTER, P.C. CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-06-302,259,483
Acturial value of plan assets2020-06-302,259,483
Funding target for retired participants and beneficiaries receiving payment2020-06-300
Number of terminated vested participants2020-06-301
Fundng target for terminated vested participants2020-06-30882
Active participant vested funding target2020-06-301,860,552
Number of active participants2020-06-3012
Total funding liabilities for active participants2020-06-301,860,552
Total participant count2020-06-3013
Total funding target for all participants2020-06-301,861,434
Balance at beginning of prior year after applicable adjustments2020-06-300
Prefunding balance at beginning of prior year after applicable adjustments2020-06-30445,104
Carryover balanced portion elected for use to offset prior years funding requirement2020-06-300
Prefunding balanced used to offset prior years funding requirement2020-06-300
Amount remaining of carryover balance2020-06-300
Amount remaining of prefunding balance2020-06-30445,104
Present value of excess contributions2020-06-3033,486
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-06-3035,341
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-06-300
Reductions in caryover balances due to elections or deemed elections2020-06-300
Reductions in prefunding balances due to elections or deemed elections2020-06-300
Balance of carryovers at beginning of current year2020-06-300
Balance of prefunding at beginning of current year2020-06-30482,982
Total employer contributions2020-06-30444,626
Total employee contributions2020-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2020-06-300
Contributions made to avoid restrictions adjusted to valuation date2020-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-06-30217,609
Unpaid minimum required contributions for all prior years2020-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-06-300
Remaining amount of unpaid minimum required contributions2020-06-300
Minimum required contributions for current year target normal cost2020-06-30188,335
Net shortfall amortization installment of oustanding balance2020-06-300
Total funding amount beforereflecting carryover/prefunding balances2020-06-30188,335
Carryover balance elected to use to offset funding requirement2020-06-300
Prefunding balance elected to use to offset funding requirement2020-06-300
Additional cash requirement2020-06-30188,335
Contributions allocatedtoward minimum required contributions for current year2020-06-30217,609
Unpaid minimum required contributions for current year2020-06-300
Unpaid minimum required contributions for all years2020-06-300
2019: EYE SPECIALISTS OF WESTCHESTER, P.C. CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-06-301,874,764
Acturial value of plan assets2019-06-301,874,764
Funding target for retired participants and beneficiaries receiving payment2019-06-300
Number of terminated vested participants2019-06-301
Fundng target for terminated vested participants2019-06-305,393
Active participant vested funding target2019-06-301,558,067
Number of active participants2019-06-3013
Total funding liabilities for active participants2019-06-301,558,067
Total participant count2019-06-3014
Total funding target for all participants2019-06-301,563,460
Balance at beginning of prior year after applicable adjustments2019-06-300
Prefunding balance at beginning of prior year after applicable adjustments2019-06-30429,637
Carryover balanced portion elected for use to offset prior years funding requirement2019-06-300
Prefunding balanced used to offset prior years funding requirement2019-06-300
Amount remaining of carryover balance2019-06-300
Amount remaining of prefunding balance2019-06-30429,637
Present value of excess contributions2019-06-3037,581
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-06-3039,734
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-06-300
Reductions in caryover balances due to elections or deemed elections2019-06-300
Reductions in prefunding balances due to elections or deemed elections2019-06-300
Balance of carryovers at beginning of current year2019-06-300
Balance of prefunding at beginning of current year2019-06-30445,104
Total employer contributions2019-06-30220,158
Total employee contributions2019-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2019-06-300
Contributions made to avoid restrictions adjusted to valuation date2019-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-06-30216,644
Liquidity shortfalls end of Q12019-06-300
Liquidity shortfalls end of Q22019-06-300
Liquidity shortfalls end of Q32019-06-300
Liquidity shortfalls end of Q42019-06-300
Unpaid minimum required contributions for all prior years2019-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-06-300
Remaining amount of unpaid minimum required contributions2019-06-300
Minimum required contributions for current year target normal cost2019-06-30183,158
Net shortfall amortization installment of oustanding balance2019-06-300
Total funding amount beforereflecting carryover/prefunding balances2019-06-30183,158
Carryover balance elected to use to offset funding requirement2019-06-300
Prefunding balance elected to use to offset funding requirement2019-06-300
Additional cash requirement2019-06-30183,158
Contributions allocatedtoward minimum required contributions for current year2019-06-30216,644
Unpaid minimum required contributions for current year2019-06-300
Unpaid minimum required contributions for all years2019-06-300
2018: EYE SPECIALISTS OF WESTCHESTER, P.C. CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-06-301,593,136
Acturial value of plan assets2018-06-301,593,136
Funding target for retired participants and beneficiaries receiving payment2018-06-300
Number of terminated vested participants2018-06-300
Fundng target for terminated vested participants2018-06-300
Active participant vested funding target2018-06-301,277,591
Number of active participants2018-06-3013
Total funding liabilities for active participants2018-06-301,277,591
Total participant count2018-06-3013
Total funding target for all participants2018-06-301,277,591
Balance at beginning of prior year after applicable adjustments2018-06-300
Prefunding balance at beginning of prior year after applicable adjustments2018-06-30401,755
Carryover balanced portion elected for use to offset prior years funding requirement2018-06-300
Prefunding balanced used to offset prior years funding requirement2018-06-300
Amount remaining of carryover balance2018-06-300
Amount remaining of prefunding balance2018-06-30401,755
Present value of excess contributions2018-06-3042,294
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-06-3044,802
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-06-300
Reductions in caryover balances due to elections or deemed elections2018-06-300
Reductions in prefunding balances due to elections or deemed elections2018-06-300
Balance of carryovers at beginning of current year2018-06-300
Balance of prefunding at beginning of current year2018-06-30429,637
Total employer contributions2018-06-30218,673
Total employee contributions2018-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2018-06-300
Contributions made to avoid restrictions adjusted to valuation date2018-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-06-30215,065
Liquidity shortfalls end of Q12018-06-300
Liquidity shortfalls end of Q22018-06-300
Liquidity shortfalls end of Q32018-06-300
Liquidity shortfalls end of Q42018-06-300
Unpaid minimum required contributions for all prior years2018-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-06-300
Remaining amount of unpaid minimum required contributions2018-06-300
Minimum required contributions for current year target normal cost2018-06-30177,484
Net shortfall amortization installment of oustanding balance2018-06-300
Total funding amount beforereflecting carryover/prefunding balances2018-06-30177,484
Carryover balance elected to use to offset funding requirement2018-06-300
Prefunding balance elected to use to offset funding requirement2018-06-300
Additional cash requirement2018-06-30177,484
Contributions allocatedtoward minimum required contributions for current year2018-06-30215,065
Unpaid minimum required contributions for current year2018-06-300
Unpaid minimum required contributions for all years2018-06-300
2017: EYE SPECIALISTS OF WESTCHESTER, P.C. CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-06-301,283,859
Acturial value of plan assets2017-06-301,283,859
Funding target for retired participants and beneficiaries receiving payment2017-06-300
Number of terminated vested participants2017-06-303
Fundng target for terminated vested participants2017-06-303,266
Active participant vested funding target2017-06-301,015,325
Number of active participants2017-06-3013
Total funding liabilities for active participants2017-06-301,015,325
Total participant count2017-06-3016
Total funding target for all participants2017-06-301,018,591
Balance at beginning of prior year after applicable adjustments2017-06-300
Prefunding balance at beginning of prior year after applicable adjustments2017-06-30385,080
Carryover balanced portion elected for use to offset prior years funding requirement2017-06-300
Prefunding balanced used to offset prior years funding requirement2017-06-300
Amount remaining of carryover balance2017-06-300
Amount remaining of prefunding balance2017-06-30385,080
Present value of excess contributions2017-06-303,775
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-06-304,006
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-06-304,006
Reductions in caryover balances due to elections or deemed elections2017-06-300
Reductions in prefunding balances due to elections or deemed elections2017-06-300
Balance of carryovers at beginning of current year2017-06-300
Balance of prefunding at beginning of current year2017-06-30401,755
Total employer contributions2017-06-30218,127
Total employee contributions2017-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2017-06-300
Contributions made to avoid restrictions adjusted to valuation date2017-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-06-30212,854
Liquidity shortfalls end of Q12017-06-300
Liquidity shortfalls end of Q22017-06-300
Liquidity shortfalls end of Q32017-06-300
Liquidity shortfalls end of Q42017-06-300
Unpaid minimum required contributions for all prior years2017-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-06-300
Remaining amount of unpaid minimum required contributions2017-06-300
Minimum required contributions for current year target normal cost2017-06-30170,560
Net shortfall amortization installment of oustanding balance2017-06-300
Waiver amortization installment2017-06-300
Waived amount of outstanding balance2017-06-300
Total funding amount beforereflecting carryover/prefunding balances2017-06-30170,560
Carryover balance elected to use to offset funding requirement2017-06-300
Prefunding balance elected to use to offset funding requirement2017-06-300
Additional cash requirement2017-06-30170,560
Contributions allocatedtoward minimum required contributions for current year2017-06-30212,854
Unpaid minimum required contributions for current year2017-06-300
Unpaid minimum required contributions for all years2017-06-300

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