PREMIER MEDICAL CARE DEFINED BENEFIT PLAN 401k Plan overview

PREMIER MEDICAL CARE DEFINED BENEFIT PLAN Benefits

401k Sponsoring company profile

Company Name:	PREMIER MEDICAL CARE OF THE PALM BEACHES, PA
Employer identification number (EIN):	352346748
NAIC Classification:	621111
NAIC Description:	Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed	Name of Company Sponsor	Date Sponsor Signed
002	2022-01-01	MICHAEL D. MILSTEIN	2023-07-20
002	2021-01-01	MICHAEL D. MILSTEIN	2022-08-15
002	2020-01-01	MICHAEL D. MILSTEIN	2021-10-07
002	2019-01-01
002	2018-01-01

Plan Statistics for PREMIER MEDICAL CARE DEFINED BENEFIT PLAN

Measure	Date	Value
2022: PREMIER MEDICAL CARE DEFINED BENEFIT PLAN 2022 401k membership
Market value of plan assets	2022-12-31	1,006,105
Acturial value of plan assets	2022-12-31	1,006,105
Funding target for retired participants and beneficiaries receiving payment	2022-12-31	0
Number of terminated vested participants	2022-12-31	0
Fundng target for terminated vested participants	2022-12-31	0
Active participant vested funding target	2022-12-31	1,106,247
Number of active participants	2022-12-31	5
Total funding liabilities for active participants	2022-12-31	1,106,247
Total participant count	2022-12-31	5
Total funding target for all participants	2022-12-31	1,106,247
Balance at beginning of prior year after applicable adjustments	2022-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2022-12-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2022-12-31	0
Prefunding balanced used to offset prior years funding requirement	2022-12-31	0
Amount remaining of carryover balance	2022-12-31	0
Amount remaining of prefunding balance	2022-12-31	0
Present value of excess contributions	2022-12-31	56,363
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2022-12-31	56,363
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2022-12-31	0
Reductions in caryover balances due to elections or deemed elections	2022-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2022-12-31	0
Balance of carryovers at beginning of current year	2022-12-31	0
Balance of prefunding at beginning of current year	2022-12-31	0
Total employer contributions	2022-12-31	324,853
Total employee contributions	2022-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2022-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2022-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2022-12-31	325,050
Unpaid minimum required contributions for all prior years	2022-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2022-12-31	0
Remaining amount of unpaid minimum required contributions	2022-12-31	0
Minimum required contributions for current year target normal cost	2022-12-31	225,572
Net shortfall amortization installment of oustanding balance	2022-12-31	100,142
Waiver amortization installment	2022-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2022-12-31	234,826
Carryover balance elected to use to offset funding requirement	2022-12-31	0
Prefunding balance elected to use to offset funding requirement	2022-12-31	0
Additional cash requirement	2022-12-31	234,826
Contributions allocatedtoward minimum required contributions for current year	2022-12-31	325,050
Unpaid minimum required contributions for current year	2022-12-31	0
Unpaid minimum required contributions for all years	2022-12-31	0
2021: PREMIER MEDICAL CARE DEFINED BENEFIT PLAN 2021 401k membership
Market value of plan assets	2021-12-31	884,193
Acturial value of plan assets	2021-12-31	884,193
Funding target for retired participants and beneficiaries receiving payment	2021-12-31	0
Number of terminated vested participants	2021-12-31	0
Fundng target for terminated vested participants	2021-12-31	0
Active participant vested funding target	2021-12-31	818,345
Number of active participants	2021-12-31	5
Total funding liabilities for active participants	2021-12-31	818,345
Total participant count	2021-12-31	5
Total funding target for all participants	2021-12-31	818,345
Balance at beginning of prior year after applicable adjustments	2021-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2021-12-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2021-12-31	0
Prefunding balanced used to offset prior years funding requirement	2021-12-31	0
Amount remaining of carryover balance	2021-12-31	0
Amount remaining of prefunding balance	2021-12-31	0
Present value of excess contributions	2021-12-31	55,642
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2021-12-31	55,642
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2021-12-31	0
Reductions in caryover balances due to elections or deemed elections	2021-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2021-12-31	0
Balance of carryovers at beginning of current year	2021-12-31	0
Balance of prefunding at beginning of current year	2021-12-31	0
Total employer contributions	2021-12-31	225,924
Total employee contributions	2021-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2021-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2021-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2021-12-31	227,656
Unpaid minimum required contributions for all prior years	2021-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2021-12-31	0
Remaining amount of unpaid minimum required contributions	2021-12-31	0
Minimum required contributions for current year target normal cost	2021-12-31	237,141
Net shortfall amortization installment of oustanding balance	2021-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2021-12-31	171,293
Carryover balance elected to use to offset funding requirement	2021-12-31	0
Prefunding balance elected to use to offset funding requirement	2021-12-31	0
Additional cash requirement	2021-12-31	171,293
Contributions allocatedtoward minimum required contributions for current year	2021-12-31	227,656
Unpaid minimum required contributions for current year	2021-12-31	0
Unpaid minimum required contributions for all years	2021-12-31	0
2020: PREMIER MEDICAL CARE DEFINED BENEFIT PLAN 2020 401k membership
Market value of plan assets	2020-12-31	562,913
Acturial value of plan assets	2020-12-31	562,913
Funding target for retired participants and beneficiaries receiving payment	2020-12-31	0
Number of terminated vested participants	2020-12-31	0
Fundng target for terminated vested participants	2020-12-31	0
Active participant vested funding target	2020-12-31	516,719
Number of active participants	2020-12-31	5
Total funding liabilities for active participants	2020-12-31	516,719
Total participant count	2020-12-31	5
Total funding target for all participants	2020-12-31	516,719
Balance at beginning of prior year after applicable adjustments	2020-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2020-12-31	0
Amount remaining of carryover balance	2020-12-31	0
Amount remaining of prefunding balance	2020-12-31	0
Present value of excess contributions	2020-12-31	1,863
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2020-12-31	1,863
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2020-12-31	0
Balance of carryovers at beginning of current year	2020-12-31	0
Balance of prefunding at beginning of current year	2020-12-31	0
Total employer contributions	2020-12-31	272,997
Total employee contributions	2020-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2020-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2020-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2020-12-31	273,324
Unpaid minimum required contributions for all prior years	2020-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2020-12-31	0
Remaining amount of unpaid minimum required contributions	2020-12-31	0
Minimum required contributions for current year target normal cost	2020-12-31	263,876
Net shortfall amortization installment of oustanding balance	2020-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2020-12-31	217,682
Additional cash requirement	2020-12-31	217,682
Contributions allocatedtoward minimum required contributions for current year	2020-12-31	273,324
Unpaid minimum required contributions for current year	2020-12-31	0
Unpaid minimum required contributions for all years	2020-12-31	0
2019: PREMIER MEDICAL CARE DEFINED BENEFIT PLAN 2019 401k membership
Market value of plan assets	2019-12-31	244,446
Acturial value of plan assets	2019-12-31	244,446
Funding target for retired participants and beneficiaries receiving payment	2019-12-31	0
Number of terminated vested participants	2019-12-31	0
Fundng target for terminated vested participants	2019-12-31	0
Active participant vested funding target	2019-12-31	246,550
Number of active participants	2019-12-31	5
Total funding liabilities for active participants	2019-12-31	246,550
Total participant count	2019-12-31	5
Total funding target for all participants	2019-12-31	246,550
Balance at beginning of prior year after applicable adjustments	2019-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2019-12-31	0
Amount remaining of carryover balance	2019-12-31	0
Amount remaining of prefunding balance	2019-12-31	0
Present value of excess contributions	2019-12-31	11,467
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2019-12-31	11,467
Balance of carryovers at beginning of current year	2019-12-31	0
Balance of prefunding at beginning of current year	2019-12-31	0
Total employer contributions	2019-12-31	259,124
Total employee contributions	2019-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2019-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2019-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2019-12-31	260,426
Unpaid minimum required contributions for all prior years	2019-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2019-12-31	0
Remaining amount of unpaid minimum required contributions	2019-12-31	0
Minimum required contributions for current year target normal cost	2019-12-31	258,221
Net shortfall amortization installment of oustanding balance	2019-12-31	2,104
Waiver amortization installment	2019-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2019-12-31	258,563
Additional cash requirement	2019-12-31	258,563
Contributions allocatedtoward minimum required contributions for current year	2019-12-31	260,426
Unpaid minimum required contributions for current year	2019-12-31	0
Unpaid minimum required contributions for all years	2019-12-31	0
2018: PREMIER MEDICAL CARE DEFINED BENEFIT PLAN 2018 401k membership
Market value of plan assets	2018-12-31	0
Acturial value of plan assets	2018-12-31	0
Funding target for retired participants and beneficiaries receiving payment	2018-12-31	0
Number of terminated vested participants	2018-12-31	0
Fundng target for terminated vested participants	2018-12-31	0
Active participant vested funding target	2018-12-31	0
Number of active participants	2018-12-31	5
Total funding liabilities for active participants	2018-12-31	0
Total participant count	2018-12-31	5
Total funding target for all participants	2018-12-31	0
Balance at beginning of prior year after applicable adjustments	2018-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2018-12-31	0
Carryover balanced portion elected for use to offset prior years funding requirement	2018-12-31	0
Prefunding balanced used to offset prior years funding requirement	2018-12-31	0
Amount remaining of carryover balance	2018-12-31	0
Amount remaining of prefunding balance	2018-12-31	0
Present value of excess contributions	2018-12-31	0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2018-12-31	0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2018-12-31	0
Reductions in caryover balances due to elections or deemed elections	2018-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2018-12-31	0
Balance of carryovers at beginning of current year	2018-12-31	0
Balance of prefunding at beginning of current year	2018-12-31	0
Total employer contributions	2018-12-31	224,558
Total employee contributions	2018-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2018-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2018-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2018-12-31	230,006
Unpaid minimum required contributions for all prior years	2018-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2018-12-31	0
Remaining amount of unpaid minimum required contributions	2018-12-31	0
Minimum required contributions for current year target normal cost	2018-12-31	218,539
Net shortfall amortization installment of oustanding balance	2018-12-31	0
Waiver amortization installment	2018-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2018-12-31	218,539
Carryover balance elected to use to offset funding requirement	2018-12-31	0
Prefunding balance elected to use to offset funding requirement	2018-12-31	0
Additional cash requirement	2018-12-31	218,539
Contributions allocatedtoward minimum required contributions for current year	2018-12-31	230,006
Unpaid minimum required contributions for current year	2018-12-31	0
Unpaid minimum required contributions for all years	2018-12-31	0

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