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RADIOLOGY ASSOCIATES OF BIRMINGHAM, P.C. CASH BALANCE PLAN 401k Plan overview

Plan NameRADIOLOGY ASSOCIATES OF BIRMINGHAM, P.C. CASH BALANCE PLAN
Plan identification number 005

RADIOLOGY ASSOCIATES OF BIRMINGHAM, P.C. 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).
  • 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

RADIOLOGY ASSOCIATES OF BIRMINGHAM, PC has sponsored the creation of one or more 401k plans.

Company Name:RADIOLOGY ASSOCIATES OF BIRMINGHAM, PC
Employer identification number (EIN):630574300
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan RADIOLOGY ASSOCIATES OF BIRMINGHAM, P.C. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0052022-10-01
0052021-10-01
0052020-10-01

Plan Statistics for RADIOLOGY ASSOCIATES OF BIRMINGHAM, P.C. CASH BALANCE PLAN

401k plan membership statisitcs for RADIOLOGY ASSOCIATES OF BIRMINGHAM, P.C. CASH BALANCE PLAN

Measure Date Value
2023: RADIOLOGY ASSOCIATES OF BIRMINGHAM, P.C. CASH BALANCE PLAN 2023 401k membership
Market value of plan assets2023-09-30891,717
Acturial value of plan assets2023-09-30891,717
Funding target for retired participants and beneficiaries receiving payment2023-09-300
Number of terminated vested participants2023-09-301
Fundng target for terminated vested participants2023-09-30202,539
Active participant vested funding target2023-09-30774,053
Number of active participants2023-09-3027
Total funding liabilities for active participants2023-09-30774,053
Total participant count2023-09-3028
Total funding target for all participants2023-09-30976,592
Balance at beginning of prior year after applicable adjustments2023-09-300
Prefunding balance at beginning of prior year after applicable adjustments2023-09-300
Carryover balanced portion elected for use to offset prior years funding requirement2023-09-300
Prefunding balanced used to offset prior years funding requirement2023-09-300
Amount remaining of carryover balance2023-09-300
Amount remaining of prefunding balance2023-09-300
Present value of excess contributions2023-09-30112,378
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2023-09-30118,570
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2023-09-300
Reductions in caryover balances due to elections or deemed elections2023-09-300
Reductions in prefunding balances due to elections or deemed elections2023-09-300
Balance of carryovers at beginning of current year2023-09-300
Balance of prefunding at beginning of current year2023-09-300
Total employer contributions2023-09-30486,056
Total employee contributions2023-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2023-09-300
Contributions made to avoid restrictions adjusted to valuation date2023-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2023-09-30471,287
Unpaid minimum required contributions for all prior years2023-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2023-09-300
Remaining amount of unpaid minimum required contributions2023-09-300
Minimum required contributions for current year target normal cost2023-09-30369,085
Net shortfall amortization installment of oustanding balance2023-09-3084,875
Waiver amortization installment2023-09-300
Total funding amount beforereflecting carryover/prefunding balances2023-09-30376,928
Carryover balance elected to use to offset funding requirement2023-09-300
Prefunding balance elected to use to offset funding requirement2023-09-300
Additional cash requirement2023-09-30376,928
Contributions allocatedtoward minimum required contributions for current year2023-09-30471,287
Unpaid minimum required contributions for current year2023-09-300
Unpaid minimum required contributions for all years2023-09-300
2022: RADIOLOGY ASSOCIATES OF BIRMINGHAM, P.C. CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-09-30523,866
Acturial value of plan assets2022-09-30523,866
Funding target for retired participants and beneficiaries receiving payment2022-09-300
Number of terminated vested participants2022-09-300
Fundng target for terminated vested participants2022-09-300
Active participant vested funding target2022-09-30471,962
Number of active participants2022-09-3024
Total funding liabilities for active participants2022-09-30471,962
Total participant count2022-09-3024
Total funding target for all participants2022-09-30471,962
Balance at beginning of prior year after applicable adjustments2022-09-300
Prefunding balance at beginning of prior year after applicable adjustments2022-09-300
Carryover balanced portion elected for use to offset prior years funding requirement2022-09-300
Prefunding balanced used to offset prior years funding requirement2022-09-300
Amount remaining of carryover balance2022-09-300
Amount remaining of prefunding balance2022-09-300
Present value of excess contributions2022-09-3064,420
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-09-3068,053
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-09-300
Reductions in caryover balances due to elections or deemed elections2022-09-300
Reductions in prefunding balances due to elections or deemed elections2022-09-300
Balance of carryovers at beginning of current year2022-09-300
Balance of prefunding at beginning of current year2022-09-300
Total employer contributions2022-09-30527,612
Total employee contributions2022-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2022-09-300
Contributions made to avoid restrictions adjusted to valuation date2022-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-09-30514,283
Unpaid minimum required contributions for all prior years2022-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-09-300
Remaining amount of unpaid minimum required contributions2022-09-300
Minimum required contributions for current year target normal cost2022-09-30453,809
Net shortfall amortization installment of oustanding balance2022-09-300
Waiver amortization installment2022-09-300
Total funding amount beforereflecting carryover/prefunding balances2022-09-30401,905
Carryover balance elected to use to offset funding requirement2022-09-300
Prefunding balance elected to use to offset funding requirement2022-09-300
Additional cash requirement2022-09-30401,905
Contributions allocatedtoward minimum required contributions for current year2022-09-30514,283
Unpaid minimum required contributions for current year2022-09-300
Unpaid minimum required contributions for all years2022-09-300
2021: RADIOLOGY ASSOCIATES OF BIRMINGHAM, P.C. CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-09-300
Acturial value of plan assets2021-09-300
Funding target for retired participants and beneficiaries receiving payment2021-09-300
Number of terminated vested participants2021-09-300
Fundng target for terminated vested participants2021-09-300
Active participant vested funding target2021-09-300
Number of active participants2021-09-3027
Total funding liabilities for active participants2021-09-300
Total participant count2021-09-3027
Total funding target for all participants2021-09-300
Amount remaining of carryover balance2021-09-300
Amount remaining of prefunding balance2021-09-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-09-300
Balance of carryovers at beginning of current year2021-09-300
Balance of prefunding at beginning of current year2021-09-300
Total employer contributions2021-09-30522,114
Total employee contributions2021-09-300
Contributions allocated toward unpaid minimum require contributions from prior years2021-09-300
Contributions made to avoid restrictions adjusted to valuation date2021-09-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-09-30507,554
Unpaid minimum required contributions for all prior years2021-09-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-09-300
Remaining amount of unpaid minimum required contributions2021-09-300
Minimum required contributions for current year target normal cost2021-09-30443,134
Net shortfall amortization installment of oustanding balance2021-09-300
Waiver amortization installment2021-09-300
Total funding amount beforereflecting carryover/prefunding balances2021-09-30443,134
Carryover balance elected to use to offset funding requirement2021-09-300
Prefunding balance elected to use to offset funding requirement2021-09-300
Additional cash requirement2021-09-30443,134
Contributions allocatedtoward minimum required contributions for current year2021-09-30507,554
Unpaid minimum required contributions for current year2021-09-300
Unpaid minimum required contributions for all years2021-09-300

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