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JOHNSON CITY EYE CLINIC, P.C. CASH BALANCE PENSION PLAN 401k Plan overview

Plan NameJOHNSON CITY EYE CLINIC, P.C. CASH BALANCE PENSION PLAN
Plan identification number 002

JOHNSON CITY EYE CLINIC, P.C. CASH BALANCE PENSION PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • 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).

401k Sponsoring company profile

JOHNSON CITY EYE CLINIC, PC has sponsored the creation of one or more 401k plans.

Company Name:JOHNSON CITY EYE CLINIC, PC
Employer identification number (EIN):621137305
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan JOHNSON CITY EYE CLINIC, P.C. CASH BALANCE PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022020-07-01
0022019-07-01TRAVIS DINGUS2021-02-17
0022018-07-01
0022017-07-01
0022016-07-01
0022016-01-01

Plan Statistics for JOHNSON CITY EYE CLINIC, P.C. CASH BALANCE PENSION PLAN

401k plan membership statisitcs for JOHNSON CITY EYE CLINIC, P.C. CASH BALANCE PENSION PLAN

Measure Date Value
2020: JOHNSON CITY EYE CLINIC, P.C. CASH BALANCE PENSION PLAN 2020 401k membership
Market value of plan assets2020-06-301,225,790
Acturial value of plan assets2020-06-301,225,790
Funding target for retired participants and beneficiaries receiving payment2020-06-300
Number of terminated vested participants2020-06-3026
Fundng target for terminated vested participants2020-06-3027,736
Active participant vested funding target2020-06-301,032,777
Number of active participants2020-06-30109
Total funding liabilities for active participants2020-06-301,032,777
Total participant count2020-06-30135
Total funding target for all participants2020-06-301,060,513
Balance at beginning of prior year after applicable adjustments2020-06-300
Prefunding balance at beginning of prior year after applicable adjustments2020-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2020-06-300
Prefunding balanced used to offset prior years funding requirement2020-06-300
Amount remaining of carryover balance2020-06-300
Amount remaining of prefunding balance2020-06-300
Present value of excess contributions2020-06-30208,793
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-06-30220,652
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-06-300
Reductions in caryover balances due to elections or deemed elections2020-06-300
Reductions in prefunding balances due to elections or deemed elections2020-06-300
Balance of carryovers at beginning of current year2020-06-300
Balance of prefunding at beginning of current year2020-06-300
Total employer contributions2020-06-30168,367
Total employee contributions2020-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2020-06-300
Contributions made to avoid restrictions adjusted to valuation date2020-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-06-30166,842
Unpaid minimum required contributions for all prior years2020-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-06-300
Remaining amount of unpaid minimum required contributions2020-06-300
Minimum required contributions for current year target normal cost2020-06-300
Net shortfall amortization installment of oustanding balance2020-06-300
Waiver amortization installment2020-06-300
Total funding amount beforereflecting carryover/prefunding balances2020-06-300
Carryover balance elected to use to offset funding requirement2020-06-300
Prefunding balance elected to use to offset funding requirement2020-06-300
Additional cash requirement2020-06-300
Contributions allocatedtoward minimum required contributions for current year2020-06-30166,842
Unpaid minimum required contributions for current year2020-06-300
Unpaid minimum required contributions for all years2020-06-300
2019: JOHNSON CITY EYE CLINIC, P.C. CASH BALANCE PENSION PLAN 2019 401k membership
Total participants, beginning-of-year2019-07-01125
Total number of active participants reported on line 7a of the Form 55002019-07-010
Number of retired or separated participants receiving benefits2019-07-010
Number of other retired or separated participants entitled to future benefits2019-07-011
Total of all active and inactive participants2019-07-011
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-07-010
Total participants2019-07-011
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-07-010
Market value of plan assets2019-06-30741,795
Acturial value of plan assets2019-06-30741,795
Funding target for retired participants and beneficiaries receiving payment2019-06-300
Number of terminated vested participants2019-06-3025
Fundng target for terminated vested participants2019-06-3017,203
Active participant vested funding target2019-06-30530,808
Number of active participants2019-06-3087
Total funding liabilities for active participants2019-06-30531,618
Total participant count2019-06-30112
Total funding target for all participants2019-06-30548,821
Balance at beginning of prior year after applicable adjustments2019-06-300
Prefunding balance at beginning of prior year after applicable adjustments2019-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2019-06-300
Prefunding balanced used to offset prior years funding requirement2019-06-300
Amount remaining of carryover balance2019-06-300
Amount remaining of prefunding balance2019-06-300
Present value of excess contributions2019-06-30208,632
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-06-30220,983
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-06-300
Reductions in caryover balances due to elections or deemed elections2019-06-300
Reductions in prefunding balances due to elections or deemed elections2019-06-300
Balance of carryovers at beginning of current year2019-06-300
Balance of prefunding at beginning of current year2019-06-300
Total employer contributions2019-06-30477,345
Total employee contributions2019-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2019-06-300
Contributions made to avoid restrictions adjusted to valuation date2019-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-06-30461,639
Unpaid minimum required contributions for all prior years2019-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-06-300
Remaining amount of unpaid minimum required contributions2019-06-300
Minimum required contributions for current year target normal cost2019-06-30445,820
Net shortfall amortization installment of oustanding balance2019-06-300
Waiver amortization installment2019-06-300
Total funding amount beforereflecting carryover/prefunding balances2019-06-30252,846
Carryover balance elected to use to offset funding requirement2019-06-300
Prefunding balance elected to use to offset funding requirement2019-06-300
Additional cash requirement2019-06-30252,846
Contributions allocatedtoward minimum required contributions for current year2019-06-30461,639
Unpaid minimum required contributions for current year2019-06-300
Unpaid minimum required contributions for all years2019-06-300
2018: JOHNSON CITY EYE CLINIC, P.C. CASH BALANCE PENSION PLAN 2018 401k membership
Market value of plan assets2018-06-30343,509
Acturial value of plan assets2018-06-30343,509
Funding target for retired participants and beneficiaries receiving payment2018-06-300
Number of terminated vested participants2018-06-308
Fundng target for terminated vested participants2018-06-303,859
Active participant vested funding target2018-06-30302,252
Number of active participants2018-06-3098
Total funding liabilities for active participants2018-06-30302,928
Total participant count2018-06-30106
Total funding target for all participants2018-06-30306,787
Balance at beginning of prior year after applicable adjustments2018-06-300
Prefunding balance at beginning of prior year after applicable adjustments2018-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2018-06-300
Prefunding balanced used to offset prior years funding requirement2018-06-300
Amount remaining of carryover balance2018-06-300
Amount remaining of prefunding balance2018-06-300
Present value of excess contributions2018-06-3045,198
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-06-3048,050
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-06-300
Reductions in caryover balances due to elections or deemed elections2018-06-300
Reductions in prefunding balances due to elections or deemed elections2018-06-300
Balance of carryovers at beginning of current year2018-06-300
Balance of prefunding at beginning of current year2018-06-300
Total employer contributions2018-06-30396,128
Total employee contributions2018-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2018-06-300
Contributions made to avoid restrictions adjusted to valuation date2018-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-06-30372,450
Unpaid minimum required contributions for all prior years2018-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-06-300
Remaining amount of unpaid minimum required contributions2018-06-300
Minimum required contributions for current year target normal cost2018-06-30200,540
Net shortfall amortization installment of oustanding balance2018-06-300
Waiver amortization installment2018-06-300
Total funding amount beforereflecting carryover/prefunding balances2018-06-30163,818
Carryover balance elected to use to offset funding requirement2018-06-300
Prefunding balance elected to use to offset funding requirement2018-06-300
Additional cash requirement2018-06-30163,818
Contributions allocatedtoward minimum required contributions for current year2018-06-30372,450
Unpaid minimum required contributions for current year2018-06-300
Unpaid minimum required contributions for all years2018-06-300
2017: JOHNSON CITY EYE CLINIC, P.C. CASH BALANCE PENSION PLAN 2017 401k membership
Market value of plan assets2017-06-30123,439
Acturial value of plan assets2017-06-30123,439
Funding target for retired participants and beneficiaries receiving payment2017-06-300
Number of terminated vested participants2017-06-302
Fundng target for terminated vested participants2017-06-30673
Active participant vested funding target2017-06-3092,151
Number of active participants2017-06-30109
Total funding liabilities for active participants2017-06-3092,151
Total participant count2017-06-30111
Total funding target for all participants2017-06-3092,824
Balance at beginning of prior year after applicable adjustments2017-06-300
Prefunding balance at beginning of prior year after applicable adjustments2017-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2017-06-300
Prefunding balanced used to offset prior years funding requirement2017-06-300
Amount remaining of carryover balance2017-06-300
Amount remaining of prefunding balance2017-06-300
Present value of excess contributions2017-06-3030,615
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-06-3030,615
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-06-300
Reductions in caryover balances due to elections or deemed elections2017-06-300
Reductions in prefunding balances due to elections or deemed elections2017-06-300
Balance of carryovers at beginning of current year2017-06-300
Balance of prefunding at beginning of current year2017-06-300
Total employer contributions2017-06-30225,000
Total employee contributions2017-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2017-06-300
Contributions made to avoid restrictions adjusted to valuation date2017-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-06-30204,667
Unpaid minimum required contributions for all prior years2017-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-06-300
Remaining amount of unpaid minimum required contributions2017-06-300
Minimum required contributions for current year target normal cost2017-06-30190,084
Net shortfall amortization installment of oustanding balance2017-06-300
Waiver amortization installment2017-06-300
Total funding amount beforereflecting carryover/prefunding balances2017-06-30159,469
Carryover balance elected to use to offset funding requirement2017-06-300
Prefunding balance elected to use to offset funding requirement2017-06-300
Additional cash requirement2017-06-30159,469
Contributions allocatedtoward minimum required contributions for current year2017-06-30204,667
Unpaid minimum required contributions for current year2017-06-300
Unpaid minimum required contributions for all years2017-06-300
2016: JOHNSON CITY EYE CLINIC, P.C. CASH BALANCE PENSION PLAN 2016 401k membership
Market value of plan assets2016-06-300
Acturial value of plan assets2016-06-300
Funding target for retired participants and beneficiaries receiving payment2016-06-300
Number of terminated vested participants2016-06-302
Fundng target for terminated vested participants2016-06-300
Active participant vested funding target2016-06-300
Number of active participants2016-06-3095
Total funding liabilities for active participants2016-06-300
Total participant count2016-06-3097
Total funding target for all participants2016-06-300
Balance at beginning of prior year after applicable adjustments2016-06-300
Prefunding balance at beginning of prior year after applicable adjustments2016-06-300
Carryover balanced portion elected for use to offset prior years funding requirement2016-06-300
Prefunding balanced used to offset prior years funding requirement2016-06-300
Amount remaining of carryover balance2016-06-300
Amount remaining of prefunding balance2016-06-300
Present value of excess contributions2016-06-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-06-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2016-06-300
Reductions in caryover balances due to elections or deemed elections2016-06-300
Reductions in prefunding balances due to elections or deemed elections2016-06-300
Balance of carryovers at beginning of current year2016-06-300
Balance of prefunding at beginning of current year2016-06-300
Total employer contributions2016-06-30125,000
Total employee contributions2016-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2016-06-300
Contributions made to avoid restrictions adjusted to valuation date2016-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2016-06-30123,439
Unpaid minimum required contributions for all prior years2016-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2016-06-300
Remaining amount of unpaid minimum required contributions2016-06-300
Minimum required contributions for current year target normal cost2016-06-3092,824
Net shortfall amortization installment of oustanding balance2016-06-300
Waiver amortization installment2016-06-300
Total funding amount beforereflecting carryover/prefunding balances2016-06-3092,824
Additional cash requirement2016-06-3092,824
Contributions allocatedtoward minimum required contributions for current year2016-06-30123,439
Unpaid minimum required contributions for current year2016-06-300
Unpaid minimum required contributions for all years2016-06-300

Financial Data on JOHNSON CITY EYE CLINIC, P.C. CASH BALANCE PENSION PLAN

Measure Date Value
2020 : JOHNSON CITY EYE CLINIC, P.C. CASH BALANCE PENSION PLAN 2020 401k financial data
Total unrealized appreciation/depreciation of assets2020-06-30$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-06-30$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-06-30$0
Total income from all sources (including contributions)2020-06-30$179,446
Total loss/gain on sale of assets2020-06-30$0
Total of all expenses incurred2020-06-30$1,404,527
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-06-30$1,401,530
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-06-30$168,367
Value of total assets at end of year2020-06-30$709
Value of total assets at beginning of year2020-06-30$1,225,790
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-06-30$2,997
Total interest from all sources2020-06-30$0
Total dividends received (eg from common stock, registered investment company shares)2020-06-30$11,079
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-06-30Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2020-06-30$0
Total dividends received from registered investment company shares (eg mutual funds)2020-06-30$11,079
Was this plan covered by a fidelity bond2020-06-30Yes
Value of fidelity bond cover2020-06-30$500,000
Were there any nonexempt tranactions with any party-in-interest2020-06-30No
Total non interest bearing cash at end of year2020-06-30$709
Total non interest bearing cash at beginning of year2020-06-30$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-06-30No
Value of net income/loss2020-06-30$-1,225,081
Value of net assets at end of year (total assets less liabilities)2020-06-30$709
Value of net assets at beginning of year (total assets less liabilities)2020-06-30$1,225,790
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-06-30No
Were any loans by the plan or fixed income obligations due to the plan in default2020-06-30No
Were any leases to which the plan was party in default or uncollectible2020-06-30No
Investment advisory and management fees2020-06-30$893
Value of interest in registered invesment companies (eg mutual funds) at end of year2020-06-30$0
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2020-06-30$1,225,790
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-06-30No
Was there a failure to transmit to the plan any participant contributions2020-06-30No
Has the plan failed to provide any benefit when due under the plan2020-06-30No
Contributions received in cash from employer2020-06-30$168,367
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-06-30$1,401,530
Contract administrator fees2020-06-30$2,104
Did the plan have assets held for investment2020-06-30No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-06-30No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-06-30Yes
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2020-06-30No
Opinion of an independent qualified public accountant for this plan2020-06-30Unqualified
Accountancy firm name2020-06-30BLACKBURN, CHILDERS & STEAGALL,PLC
Accountancy firm EIN2020-06-30620647474

Form 5500 Responses for JOHNSON CITY EYE CLINIC, P.C. CASH BALANCE PENSION PLAN

2019: JOHNSON CITY EYE CLINIC, P.C. CASH BALANCE PENSION PLAN 2019 form 5500 responses
2019-07-01Type of plan entitySingle employer plan
2019-07-01Submission has been amendedNo
2019-07-01This submission is the final filingNo
2019-07-01This return/report is a short plan year return/report (less than 12 months)No
2019-07-01Plan is a collectively bargained planNo
2019-07-01Plan funding arrangement – TrustYes
2019-07-01Plan benefit arrangement - TrustYes

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