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FIRST CHOICE MEDICAL, PLLC 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameFIRST CHOICE MEDICAL, PLLC 401(K) PROFIT SHARING PLAN
Plan identification number 001

FIRST CHOICE MEDICAL, PLLC 401(K) PROFIT SHARING PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • 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

FIRST CHOICE MEDICAL has sponsored the creation of one or more 401k plans.

Company Name:FIRST CHOICE MEDICAL
Employer identification number (EIN):364478963
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FIRST CHOICE MEDICAL, PLLC 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012017-01-01LISA COHEN
0012016-01-01LISA COHEN
0012015-01-01LISA COHEN

Plan Statistics for FIRST CHOICE MEDICAL, PLLC 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for FIRST CHOICE MEDICAL, PLLC 401(K) PROFIT SHARING PLAN

Measure Date Value
2017: FIRST CHOICE MEDICAL, PLLC 401(K) PROFIT SHARING PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-0130
Total number of active participants reported on line 7a of the Form 55002017-01-0117
Number of retired or separated participants receiving benefits2017-01-010
Number of other retired or separated participants entitled to future benefits2017-01-0113
Total of all active and inactive participants2017-01-0130
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-0130
Number of participants with account balances2017-01-0126
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-010
2016: FIRST CHOICE MEDICAL, PLLC 401(K) PROFIT SHARING PLAN 2016 401k membership
Total participants, beginning-of-year2016-01-0135
Total number of active participants reported on line 7a of the Form 55002016-01-0123
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-0112
Total of all active and inactive participants2016-01-0135
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-0135
Number of participants with account balances2016-01-0127
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-010
2015: FIRST CHOICE MEDICAL, PLLC 401(K) PROFIT SHARING PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-0156
Total number of active participants reported on line 7a of the Form 55002015-01-0116
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-0119
Total of all active and inactive participants2015-01-0135
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-0135
Number of participants with account balances2015-01-0128
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-010

Financial Data on FIRST CHOICE MEDICAL, PLLC 401(K) PROFIT SHARING PLAN

Measure Date Value
2017 : FIRST CHOICE MEDICAL, PLLC 401(K) PROFIT SHARING PLAN 2017 401k financial data
Transfers to/from the plan2017-12-31$0
Total plan liabilities at end of year2017-12-31$0
Total plan liabilities at beginning of year2017-12-31$0
Total income from all sources2017-12-31$423,393
Expenses. Total of all expenses incurred2017-12-31$195,308
Benefits paid (including direct rollovers)2017-12-31$195,308
Total plan assets at end of year2017-12-31$2,194,658
Total plan assets at beginning of year2017-12-31$1,966,573
Value of fidelity bond covering the plan2017-12-31$230,000
Total contributions received or receivable from participants2017-12-31$88,788
Expenses. Other expenses not covered elsewhere2017-12-31$0
Contributions received from other sources (not participants or employers)2017-12-31$0
Other income received2017-12-31$334,605
Noncash contributions received2017-12-31$0
Net income (gross income less expenses)2017-12-31$228,085
Net plan assets at end of year (total assets less liabilities)2017-12-31$2,194,658
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$1,966,573
Assets. Value of participant loans2017-12-31$0
Total contributions received or receivable from employer(s)2017-12-31$0
Value of certain deemed distributions of participant loans2017-12-31$0
Value of corrective distributions2017-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$0
2016 : FIRST CHOICE MEDICAL, PLLC 401(K) PROFIT SHARING PLAN 2016 401k financial data
Transfers to/from the plan2016-12-31$0
Total plan liabilities at end of year2016-12-31$0
Total plan liabilities at beginning of year2016-12-31$0
Total income from all sources2016-12-31$264,116
Expenses. Total of all expenses incurred2016-12-31$309,344
Benefits paid (including direct rollovers)2016-12-31$309,319
Total plan assets at end of year2016-12-31$1,966,573
Total plan assets at beginning of year2016-12-31$2,011,801
Value of fidelity bond covering the plan2016-12-31$230,000
Total contributions received or receivable from participants2016-12-31$115,885
Expenses. Other expenses not covered elsewhere2016-12-31$0
Contributions received from other sources (not participants or employers)2016-12-31$0
Other income received2016-12-31$148,231
Noncash contributions received2016-12-31$0
Net income (gross income less expenses)2016-12-31$-45,228
Net plan assets at end of year (total assets less liabilities)2016-12-31$1,966,573
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$2,011,801
Assets. Value of participant loans2016-12-31$12,798
Total contributions received or receivable from employer(s)2016-12-31$0
Value of certain deemed distributions of participant loans2016-12-31$0
Value of corrective distributions2016-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2016-12-31$25
2015 : FIRST CHOICE MEDICAL, PLLC 401(K) PROFIT SHARING PLAN 2015 401k financial data
Transfers to/from the plan2015-12-31$0
Total plan liabilities at end of year2015-12-31$0
Total plan liabilities at beginning of year2015-12-31$0
Total income from all sources2015-12-31$330,315
Expenses. Total of all expenses incurred2015-12-31$270,836
Benefits paid (including direct rollovers)2015-12-31$242,428
Total plan assets at end of year2015-12-31$2,011,801
Total plan assets at beginning of year2015-12-31$1,952,322
Value of fidelity bond covering the plan2015-12-31$230,000
Total contributions received or receivable from participants2015-12-31$72,562
Expenses. Other expenses not covered elsewhere2015-12-31$0
Contributions received from other sources (not participants or employers)2015-12-31$192,611
Other income received2015-12-31$38,646
Noncash contributions received2015-12-31$0
Net income (gross income less expenses)2015-12-31$59,479
Net plan assets at end of year (total assets less liabilities)2015-12-31$2,011,801
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$1,952,322
Assets. Value of participant loans2015-12-31$33,130
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022015-12-31$0
Total contributions received or receivable from employer(s)2015-12-31$26,496
Value of certain deemed distributions of participant loans2015-12-31$0
Value of corrective distributions2015-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2015-12-31$28,408

Form 5500 Responses for FIRST CHOICE MEDICAL, PLLC 401(K) PROFIT SHARING PLAN

2017: FIRST CHOICE MEDICAL, PLLC 401(K) PROFIT SHARING PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedNo
2017-01-01This submission is the final filingNo
2017-01-01This return/report is a short plan year return/report (less than 12 months)No
2017-01-01Plan is a collectively bargained planNo
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: FIRST CHOICE MEDICAL, PLLC 401(K) PROFIT SHARING PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Submission has been amendedNo
2016-01-01This submission is the final filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes
2015: FIRST CHOICE MEDICAL, PLLC 401(K) PROFIT SHARING PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingNo
2015-01-01This return/report is a short plan year return/report (less than 12 months)No
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes

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