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THE ORTHOPAEDIC CENTER OF CENTRAL VIRGINIA, INC. CASH BALANCE PENSION PLAN 401k Plan overview

Plan NameTHE ORTHOPAEDIC CENTER OF CENTRAL VIRGINIA, INC. CASH BALANCE PENSION PLAN
Plan identification number 006

THE ORTHOPAEDIC CENTER OF CENTRAL VIRGINIA, INC. CASH BALANCE PENSION 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).
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
  • Plan covered by PBGC that was terminated and closed out for PBGC purposes - Before the end of the plan year (or a prior plan year), (1) the plan terminated in a standard (or distress) termination and completed the distribution of plan assets in satisfaction of all benefit liabilities (or all ERISA Title IV benefits for distress termination); or (2) a trustee was appointed for a terminated plan pursuant to ERISA section 4042.
  • 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).

401k Sponsoring company profile

THE ORTHOPAEDIC CENTER OF CENTRAL VIRGINIA, INC. has sponsored the creation of one or more 401k plans.

Company Name:THE ORTHOPAEDIC CENTER OF CENTRAL VIRGINIA, INC.
Employer identification number (EIN):202159335
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE ORTHOPAEDIC CENTER OF CENTRAL VIRGINIA, INC. CASH BALANCE PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0062018-01-01DREW KIERNAN2018-03-21
0062017-01-01DREW KIERNAN2018-03-20
0062016-01-01DREW KIERNAN2017-10-05
0062015-01-01DREW KIERNAN2016-09-14
0062014-01-01DREW KIERNAN2015-06-11
0062013-01-01DREW KIERNAN2014-09-30
0062012-01-01DREW KIERNAN2013-08-19
0062011-01-01DREW KIERNAN2012-10-09

Plan Statistics for THE ORTHOPAEDIC CENTER OF CENTRAL VIRGINIA, INC. CASH BALANCE PENSION PLAN

401k plan membership statisitcs for THE ORTHOPAEDIC CENTER OF CENTRAL VIRGINIA, INC. CASH BALANCE PENSION PLAN

Measure Date Value
2016: THE ORTHOPAEDIC CENTER OF CENTRAL VIRGINIA, INC. CASH BALANCE PENSION PLAN 2016 401k membership
Market value of plan assets2016-12-315,638,887
Acturial value of plan assets2016-12-315,638,887
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-3110
Fundng target for terminated vested participants2016-12-3156,368
Active participant vested funding target2016-12-315,449,274
Number of active participants2016-12-3150
Total funding liabilities for active participants2016-12-315,449,274
Total participant count2016-12-3160
Total funding target for all participants2016-12-315,505,642
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 contributions2016-12-31254,921
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-31254,921
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 contributions2016-12-311,076,151
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 date2016-12-311,034,389
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 cost2016-12-31673,159
Net shortfall amortization installment of oustanding balance2016-12-310
Waiver amortization installment2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-31539,914
Additional cash requirement2016-12-31539,914
Contributions allocatedtoward minimum required contributions for current year2016-12-311,034,389
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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