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MICHAEL H. PARKER, MD, LLC CASH BALANCE PLAN 401k Plan overview

Plan NameMICHAEL H. PARKER, MD, LLC CASH BALANCE PLAN
Plan identification number 002

MICHAEL H. PARKER, MD, LLC 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).
  • Floor-offset plan - Plan benefits are subject to offset for retirement benefits provided by an employer-sponsored defined contribution plan.
  • 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

MICHAEL H. PARKER, MD, LLC has sponsored the creation of one or more 401k plans.

Company Name:MICHAEL H. PARKER, MD, LLC
Employer identification number (EIN):273802307

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MICHAEL H. PARKER, MD, LLC CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022020-01-01
0022019-01-01

Plan Statistics for MICHAEL H. PARKER, MD, LLC CASH BALANCE PLAN

401k plan membership statisitcs for MICHAEL H. PARKER, MD, LLC CASH BALANCE PLAN

Measure Date Value
2020: MICHAEL H. PARKER, MD, LLC CASH BALANCE PLAN 2020 401k membership
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 target2020-12-310
Number of active participants2020-12-311
Total funding liabilities for active participants2020-12-310
Total participant count2020-12-311
Total funding target for all participants2020-12-310
Total employer contributions2020-12-31130,000
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-12-31130,025
Minimum required contributions for current year target normal cost2020-12-31120,417
Total funding amount beforereflecting carryover/prefunding balances2020-12-31120,417
Additional cash requirement2020-12-31120,417
Contributions allocatedtoward minimum required contributions for current year2020-12-31130,025
Total participants, beginning-of-year2020-01-011
Total of all active and inactive participants2020-01-010
Total participants2020-01-010
2019: MICHAEL H. PARKER, MD, LLC CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-310
Acturial value of plan assets2019-12-310
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 target2019-12-310
Number of active participants2019-12-311
Total funding liabilities for active participants2019-12-310
Total participant count2019-12-311
Total funding target for all participants2019-12-310
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 contributions2019-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-310
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 contributions2019-12-31135,667
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 date2019-12-31132,354
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 cost2019-12-31132,331
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31132,331
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-31132,331
Contributions allocatedtoward minimum required contributions for current year2019-12-31132,354
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
Total participants, beginning-of-year2019-01-011
Total number of active participants reported on line 7a of the Form 55002019-01-011
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-010
Total of all active and inactive participants2019-01-011
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-011
Number of participants with account balances2019-01-011
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010

Financial Data on MICHAEL H. PARKER, MD, LLC CASH BALANCE PLAN

Measure Date Value
2020 : MICHAEL H. PARKER, MD, LLC CASH BALANCE PLAN 2020 401k financial data
Total income from all sources2020-12-31$121,625
Expenses. Total of all expenses incurred2020-12-31$257,289
Benefits paid (including direct rollovers)2020-12-31$257,289
Total plan assets at end of year2020-12-31$0
Total plan assets at beginning of year2020-12-31$135,664
Other income received2020-12-31$-8,375
Net income (gross income less expenses)2020-12-31$-135,664
Net plan assets at end of year (total assets less liabilities)2020-12-31$0
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$135,664
Total contributions received or receivable from employer(s)2020-12-31$130,000
2019 : MICHAEL H. PARKER, MD, LLC CASH BALANCE PLAN 2019 401k financial data
Total plan liabilities at end of year2019-12-31$0
Total plan liabilities at beginning of year2019-12-31$0
Total income from all sources2019-12-31$135,664
Expenses. Total of all expenses incurred2019-12-31$0
Total plan assets at end of year2019-12-31$135,664
Total plan assets at beginning of year2019-12-31$0
Net income (gross income less expenses)2019-12-31$135,664
Net plan assets at end of year (total assets less liabilities)2019-12-31$135,664
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$0
Total contributions received or receivable from employer(s)2019-12-31$135,664

Form 5500 Responses for MICHAEL H. PARKER, MD, LLC CASH BALANCE PLAN

2020: MICHAEL H. PARKER, MD, LLC CASH BALANCE PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01This submission is the final filingYes
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: MICHAEL H. PARKER, MD, LLC CASH BALANCE PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01First time form 5500 has been submittedYes
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes

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