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STEVEN PHILLIPS, M. D. , P. C. DEFINED BENEFIT PLAN 401k Plan overview

Plan NameSTEVEN PHILLIPS, M. D. , P. C. DEFINED BENEFIT PLAN
Plan identification number 003

STEVEN PHILLIPS, M. D. , P. C. 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

STEVEN PHILLIPS M.D., P.C. has sponsored the creation of one or more 401k plans.

Company Name:STEVEN PHILLIPS M.D., P.C.
Employer identification number (EIN):200119118
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan STEVEN PHILLIPS, M. D. , P. C. DEFINED BENEFIT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032022-01-01
0032021-01-01
0032020-01-01
0032019-01-01

Plan Statistics for STEVEN PHILLIPS, M. D. , P. C. DEFINED BENEFIT PLAN

401k plan membership statisitcs for STEVEN PHILLIPS, M. D. , P. C. DEFINED BENEFIT PLAN

Measure Date Value
2022: STEVEN PHILLIPS, M. D. , P. C. DEFINED BENEFIT PLAN 2022 401k membership
Market value of plan assets2022-12-31652,991
Acturial value of plan assets2022-12-31652,991
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 target2022-12-311,593,821
Number of active participants2022-12-312
Total funding liabilities for active participants2022-12-311,595,094
Total participant count2022-12-312
Total funding target for all participants2022-12-311,595,094
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 contributions2022-12-3133,691
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-3133,691
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 contributions2022-12-31400,000
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 date2022-12-31383,543
Liquidity shortfalls end of Q12022-12-310
Liquidity shortfalls end of Q22022-12-310
Liquidity shortfalls end of Q32022-12-310
Liquidity shortfalls end of Q42022-12-310
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 cost2022-12-310
Net shortfall amortization installment of oustanding balance2022-12-31942,103
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-3188,454
Additional cash requirement2022-12-3188,454
Contributions allocatedtoward minimum required contributions for current year2022-12-31383,543
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: STEVEN PHILLIPS, M. D. , P. C. DEFINED BENEFIT PLAN 2021 401k membership
Market value of plan assets2021-12-31932,381
Acturial value of plan assets2021-12-31932,381
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 target2021-12-311,258,827
Number of active participants2021-12-312
Total funding liabilities for active participants2021-12-311,260,295
Total participant count2021-12-312
Total funding target for all participants2021-12-311,260,295
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 contributions2021-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-310
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 contributions2021-12-31282,832
Total employee contributions2021-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2021-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-12-31275,769
Liquidity shortfalls end of Q12021-12-310
Liquidity shortfalls end of Q22021-12-310
Liquidity shortfalls end of Q32021-12-310
Liquidity shortfalls end of Q42021-12-310
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 cost2021-12-31211,503
Net shortfall amortization installment of oustanding balance2021-12-31327,914
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-31242,078
Additional cash requirement2021-12-31242,078
Contributions allocatedtoward minimum required contributions for current year2021-12-31275,769
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: STEVEN PHILLIPS, M. D. , P. C. DEFINED BENEFIT PLAN 2020 401k membership
Market value of plan assets2020-12-31707,293
Acturial value of plan assets2020-12-31707,293
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 target2020-12-31985,547
Number of active participants2020-12-312
Total funding liabilities for active participants2020-12-31986,791
Total participant count2020-12-312
Total funding target for all participants2020-12-31986,791
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 contributions2020-12-3159,186
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-3159,186
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 contributions2020-12-31270,000
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 date2020-12-31250,849
Liquidity shortfalls end of Q12020-12-310
Liquidity shortfalls end of Q22020-12-310
Liquidity shortfalls end of Q32020-12-310
Liquidity shortfalls end of Q42020-12-310
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 cost2020-12-31198,191
Net shortfall amortization installment of oustanding balance2020-12-31279,498
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-31250,849
Additional cash requirement2020-12-31250,849
Contributions allocatedtoward minimum required contributions for current year2020-12-31250,849
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: STEVEN PHILLIPS, M. D. , P. C. DEFINED BENEFIT PLAN 2019 401k membership
Market value of plan assets2019-12-31525,873
Acturial value of plan assets2019-12-31525,873
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 target2019-12-31738,835
Number of active participants2019-12-312
Total funding liabilities for active participants2019-12-31738,835
Total participant count2019-12-312
Total funding target for all participants2019-12-31738,835
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 contributions2019-12-3156,891
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-3156,891
Balance of carryovers at beginning of current year2019-12-310
Balance of prefunding at beginning of current year2019-12-310
Total employer contributions2019-12-31293,567
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 date2019-12-31282,538
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 cost2019-12-31186,744
Net shortfall amortization installment of oustanding balance2019-12-31212,962
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31223,352
Additional cash requirement2019-12-31223,352
Contributions allocatedtoward minimum required contributions for current year2019-12-31282,538
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310

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