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EYE PHYSICIANS OF SUSSEX COUNTY CASH BALANCE PLAN 401k Plan overview

Plan NameEYE PHYSICIANS OF SUSSEX COUNTY CASH BALANCE PLAN
Plan identification number 002

EYE PHYSICIANS OF SUSSEX COUNTY CASH BALANCE PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily flat dollar (includes dollars per year of service)
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

EYE PHYSICIANS OF SUSSEX COUNTY has sponsored the creation of one or more 401k plans.

Company Name:EYE PHYSICIANS OF SUSSEX COUNTY
Employer identification number (EIN):222172159
NAIC Classification:621320
NAIC Description:Offices of Optometrists

Form 5500 Filing Information

Submission information for form 5500 for 401k plan EYE PHYSICIANS OF SUSSEX COUNTY CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022024-01-01JEAN VANSYCKLE2024-12-05
0022023-01-01JEAN VANSYCKLE2024-06-05
0022022-01-01JEAN VANSYCKLE2023-09-25
0022021-01-01JEAN VANSYCKLE2022-09-20
0022020-01-01

Financial Data on EYE PHYSICIANS OF SUSSEX COUNTY CASH BALANCE PLAN

Measure Date Value
2024 : EYE PHYSICIANS OF SUSSEX COUNTY CASH BALANCE PLAN 2024 401k financial data
Total transfers to/from plan in this plan year2024-12-050
Total liabilities as of the end of the plan year2024-12-050
Total liabilities as of the beginning of the plan year2024-12-050
Total expenses incurred by plan in this plan year2024-12-051721991
Net assets as of the end of the plan year2024-12-050
Total assets as of the beginning of the plan year2024-12-051707117
Participant contributions to plan in this plan year2024-12-050
Other expenses paid from plan in this plan year2024-12-050
Other contributions to plan in this plan year2024-12-050
Other income to plan in this plan year2024-12-0514874
Plan net income in this plan year2024-12-05-1707117
Net assets as of the end of the plan year2024-12-050
Net assets as of the beginning of the plan year2024-12-051707117
Employer contributions to plan in this plan year2024-12-050
Expensese paid to adminstrative service provicers from plan in this plan year2024-12-05595
Total transfers to/from plan in this plan year2024-06-050
Total liabilities as of the end of the plan year2024-06-050
Total liabilities as of the beginning of the plan year2024-06-050
Total expenses incurred by plan in this plan year2024-06-052763
Net assets as of the end of the plan year2024-06-051707117
Total assets as of the beginning of the plan year2024-06-051493478
Participant contributions to plan in this plan year2024-06-050
Other expenses paid from plan in this plan year2024-06-050
Other contributions to plan in this plan year2024-06-050
Other income to plan in this plan year2024-06-0582898
Plan net income in this plan year2024-06-05213639
Net assets as of the end of the plan year2024-06-051707117
Net assets as of the beginning of the plan year2024-06-051493478
Employer contributions to plan in this plan year2024-06-05133504
Expensese paid to adminstrative service provicers from plan in this plan year2024-06-052763
2020 : EYE PHYSICIANS OF SUSSEX COUNTY CASH BALANCE PLAN 2020 401k financial data
Transfers to/from the plan2020-12-31$0
Total plan liabilities at end of year2020-12-31$0
Total plan liabilities at beginning of year2020-12-31$0
Total income from all sources2020-12-31$517,538
Expenses. Total of all expenses incurred2020-12-31$0
Benefits paid (including direct rollovers)2020-12-31$0
Total plan assets at end of year2020-12-31$517,538
Total plan assets at beginning of year2020-12-31$0
Total contributions received or receivable from participants2020-12-31$0
Expenses. Other expenses not covered elsewhere2020-12-31$0
Contributions received from other sources (not participants or employers)2020-12-31$0
Other income received2020-12-31$0
Noncash contributions received2020-12-31$0
Net income (gross income less expenses)2020-12-31$517,538
Net plan assets at end of year (total assets less liabilities)2020-12-31$517,538
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$0
Total contributions received or receivable from employer(s)2020-12-31$517,538
Value of certain deemed distributions of participant loans2020-12-31$0
Value of corrective distributions2020-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0

Form 5500 Responses for EYE PHYSICIANS OF SUSSEX COUNTY CASH BALANCE PLAN

2020: EYE PHYSICIANS OF SUSSEX COUNTY CASH BALANCE PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01First time form 5500 has been submittedYes
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingNo
2020-01-01This return/report is a short plan year return/report (less than 12 months)No
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes

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