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ROYAL PALM SPECIALTY PHARMACY LLC CASH BALANCE PLAN 401k Plan overview

Plan NameROYAL PALM SPECIALTY PHARMACY LLC CASH BALANCE PLAN
Plan identification number 002

ROYAL PALM SPECIALTY PHARMACY 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).
  • 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).
  • Plan covering Self-Employed individuals.

401k Sponsoring company profile

ROYAL PALM SPECIALTY PHARMACY, LLC has sponsored the creation of one or more 401k plans.

Company Name:ROYAL PALM SPECIALTY PHARMACY, LLC
Employer identification number (EIN):274537023
NAIC Classification:446110
NAIC Description:Pharmacies and Drug Stores

Additional information about ROYAL PALM SPECIALTY PHARMACY, LLC

Jurisdiction of Incorporation: State of Delaware Division of Corporations
Incorporation Date:
Company Identification Number: 4920726

More information about ROYAL PALM SPECIALTY PHARMACY, LLC

Form 5500 Filing Information

Submission information for form 5500 for 401k plan ROYAL PALM SPECIALTY PHARMACY LLC CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022019-01-01MARK RUBIN2020-10-06
0022014-01-01MARK RUBIN2015-10-11
0022013-01-01MARK RUBIN2014-10-13
0022012-01-01MARK RUBIN2013-10-12

Plan Statistics for ROYAL PALM SPECIALTY PHARMACY LLC CASH BALANCE PLAN

401k plan membership statisitcs for ROYAL PALM SPECIALTY PHARMACY LLC CASH BALANCE PLAN

Measure Date Value
2019: ROYAL PALM SPECIALTY PHARMACY LLC CASH BALANCE PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-016
Total number of active participants reported on line 7a of the Form 55002019-01-010
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 participants2019-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010

Financial Data on ROYAL PALM SPECIALTY PHARMACY LLC CASH BALANCE PLAN

Measure Date Value
2019 : ROYAL PALM SPECIALTY PHARMACY LLC CASH BALANCE PLAN 2019 401k financial data
Total income from all sources2019-12-16$-29,945
Expenses. Total of all expenses incurred2019-12-16$695,765
Benefits paid (including direct rollovers)2019-12-16$639,467
Total plan assets at end of year2019-12-16$0
Total plan assets at beginning of year2019-12-16$725,710
Value of fidelity bond covering the plan2019-12-16$500,000
Total contributions received or receivable from participants2019-12-16$0
Contributions received from other sources (not participants or employers)2019-12-16$0
Other income received2019-12-16$-29,945
Noncash contributions received2019-12-16$0
Net income (gross income less expenses)2019-12-16$-725,710
Net plan assets at end of year (total assets less liabilities)2019-12-16$0
Net plan assets at beginning of year (total assets less liabilities)2019-12-16$725,710
Assets. Value of participant loans2019-12-16$0
Assets. Value of assets in partnership/joint-venture interests2019-12-16$0
Assets. Value of real-estate (other than employer real property)2019-12-16$0
Total contributions received or receivable from employer(s)2019-12-16$0
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-16$56,298
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-16$286,286

Form 5500 Responses for ROYAL PALM SPECIALTY PHARMACY LLC CASH BALANCE PLAN

2019: ROYAL PALM SPECIALTY PHARMACY LLC CASH BALANCE PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingYes
2019-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes

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