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THE BERNSTEIN LAW FIRM CASH BALANCE PLAN 401k Plan overview

Plan NameTHE BERNSTEIN LAW FIRM CASH BALANCE PLAN
Plan identification number 002

THE BERNSTEIN LAW FIRM CASH BALANCE PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily flat dollar (includes dollars per year of service)
  • 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

MICHAEL I BERNSTEIN PA has sponsored the creation of one or more 401k plans.

Company Name:MICHAEL I BERNSTEIN PA
Employer identification number (EIN):721610491
NAIC Classification:541990
NAIC Description:All Other Professional, Scientific, and Technical Services

Additional information about MICHAEL I BERNSTEIN PA

Jurisdiction of Incorporation: Florida Department of State Division of Corporations
Incorporation Date: 2004-12-13
Company Identification Number: P04000167008
Legal Registered Office Address: 3050 BISCAYNE BLVD

MIAMI

33137

More information about MICHAEL I BERNSTEIN PA

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE BERNSTEIN LAW FIRM CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01MICHAEL BERNSTEIN2023-09-28
0022021-01-01MICHAEL BERNSTEIN2022-07-07
0022020-01-01
0022019-01-01MICHAEL BERNSTEIN2020-09-22

Plan Statistics for THE BERNSTEIN LAW FIRM CASH BALANCE PLAN

401k plan membership statisitcs for THE BERNSTEIN LAW FIRM CASH BALANCE PLAN

Measure Date Value
2022: THE BERNSTEIN LAW FIRM CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-31337,142
Acturial value of plan assets2022-12-31337,142
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-311
Fundng target for terminated vested participants2022-12-313,257
Active participant vested funding target2022-12-31318,941
Number of active participants2022-12-314
Total funding liabilities for active participants2022-12-31320,721
Total participant count2022-12-315
Total funding target for all participants2022-12-31323,978
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-3168
Carryover balanced portion elected for use to offset prior years funding requirement2022-12-310
Prefunding balanced used to offset prior years funding requirement2022-12-310
Amount remaining of carryover balance2022-12-310
Amount remaining of prefunding balance2022-12-3168
Present value of excess contributions2022-12-3121,892
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-3123,083
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-3123,083
Reductions in caryover balances due to elections or deemed elections2022-12-310
Reductions in prefunding balances due to elections or deemed elections2022-12-319,986
Balance of carryovers at beginning of current year2022-12-310
Balance of prefunding at beginning of current year2022-12-3113,164
Total employer contributions2022-12-31230,500
Total employee contributions2022-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2022-12-310
Contributions made to avoid restrictions adjusted to valuation date2022-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-12-31211,591
Unpaid minimum required contributions for all prior years2022-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-12-310
Remaining amount of unpaid minimum required contributions2022-12-310
Minimum required contributions for current year target normal cost2022-12-3196,313
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-3196,313
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-3196,313
Contributions allocatedtoward minimum required contributions for current year2022-12-31211,591
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: THE BERNSTEIN LAW FIRM CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-31206,123
Acturial value of plan assets2021-12-31206,123
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-310
Fundng target for terminated vested participants2021-12-310
Active participant vested funding target2021-12-310
Number of active participants2021-12-315
Total funding liabilities for active participants2021-12-31205,769
Total participant count2021-12-315
Total funding target for all participants2021-12-31205,769
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-311,437
Carryover balanced portion elected for use to offset prior years funding requirement2021-12-310
Prefunding balanced used to offset prior years funding requirement2021-12-311,368
Amount remaining of carryover balance2021-12-310
Amount remaining of prefunding balance2021-12-3169
Present value of excess contributions2021-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-310
Reductions in caryover balances due to elections or deemed elections2021-12-310
Reductions in prefunding balances due to elections or deemed elections2021-12-310
Balance of carryovers at beginning of current year2021-12-310
Balance of prefunding at beginning of current year2021-12-3168
Total employer contributions2021-12-31131,294
Total employee contributions2021-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2021-12-310
Contributions made to avoid restrictions adjusted to valuation date2021-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-12-31118,958
Unpaid minimum required contributions for all prior years2021-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-12-310
Remaining amount of unpaid minimum required contributions2021-12-310
Minimum required contributions for current year target normal cost2021-12-3197,352
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-3197,066
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-3197,066
Contributions allocatedtoward minimum required contributions for current year2021-12-31118,958
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: THE BERNSTEIN LAW FIRM CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-31101,562
Acturial value of plan assets2020-12-31101,562
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-310
Fundng target for terminated vested participants2020-12-310
Active participant vested funding target2020-12-310
Number of active participants2020-12-315
Total funding liabilities for active participants2020-12-31101,908
Total participant count2020-12-315
Total funding target for all participants2020-12-31101,908
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2020-12-310
Prefunding balanced used to offset prior years funding requirement2020-12-310
Amount remaining of carryover balance2020-12-310
Amount remaining of prefunding balance2020-12-310
Present value of excess contributions2020-12-311,363
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-311,437
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-311,437
Reductions in caryover balances due to elections or deemed elections2020-12-310
Reductions in prefunding balances due to elections or deemed elections2020-12-310
Balance of carryovers at beginning of current year2020-12-310
Balance of prefunding at beginning of current year2020-12-311,437
Total employer contributions2020-12-31104,736
Total employee contributions2020-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2020-12-310
Contributions made to avoid restrictions adjusted to valuation date2020-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-12-3195,976
Unpaid minimum required contributions for all prior years2020-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-12-310
Remaining amount of unpaid minimum required contributions2020-12-310
Minimum required contributions for current year target normal cost2020-12-3197,055
Net shortfall amortization installment of oustanding balance2020-12-311,783
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-3197,344
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-311,368
Additional cash requirement2020-12-3195,976
Contributions allocatedtoward minimum required contributions for current year2020-12-3195,976
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
Total participants, beginning-of-year2020-01-015
Total number of active participants reported on line 7a of the Form 55002020-01-015
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-010
Total of all active and inactive participants2020-01-015
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-015
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: THE BERNSTEIN LAW FIRM CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-310
Acturial value of plan assets2019-12-310
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-310
Fundng target for terminated vested participants2019-12-310
Active participant vested funding target2019-12-310
Number of active participants2019-12-314
Total funding liabilities for active participants2019-12-310
Total participant count2019-12-314
Total funding target for all participants2019-12-310
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2019-12-310
Prefunding balanced used to offset prior years funding requirement2019-12-310
Amount remaining of carryover balance2019-12-310
Amount remaining of prefunding balance2019-12-310
Present value of excess contributions2019-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-310
Reductions in caryover balances due to elections or deemed elections2019-12-310
Reductions in prefunding balances due to elections or deemed elections2019-12-310
Balance of carryovers at beginning of current year2019-12-310
Balance of prefunding at beginning of current year2019-12-310
Total employer contributions2019-12-31105,330
Total employee contributions2019-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2019-12-310
Contributions made to avoid restrictions adjusted to valuation date2019-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-12-3196,340
Unpaid minimum required contributions for all prior years2019-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-12-310
Remaining amount of unpaid minimum required contributions2019-12-310
Minimum required contributions for current year target normal cost2019-12-3194,977
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-3194,977
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-3194,977
Contributions allocatedtoward minimum required contributions for current year2019-12-3196,340
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310

Financial Data on THE BERNSTEIN LAW FIRM CASH BALANCE PLAN

Measure Date Value
2020 : THE BERNSTEIN LAW FIRM CASH BALANCE PLAN 2020 401k financial data
Transfers to/from the plan2020-12-31$0
Total plan liabilities at end of year2020-12-31$0
Total plan liabilities at beginning of year2020-12-31$0
Total income from all sources2020-12-31$104,739
Expenses. Total of all expenses incurred2020-12-31$263
Benefits paid (including direct rollovers)2020-12-31$0
Total plan assets at end of year2020-12-31$209,806
Total plan assets at beginning of year2020-12-31$105,330
Total contributions received or receivable from participants2020-12-31$0
Expenses. Other expenses not covered elsewhere2020-12-31$0
Contributions received from other sources (not participants or employers)2020-12-31$0
Other income received2020-12-31$3
Noncash contributions received2020-12-31$0
Net income (gross income less expenses)2020-12-31$104,476
Net plan assets at end of year (total assets less liabilities)2020-12-31$209,806
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$105,330
Total contributions received or receivable from employer(s)2020-12-31$104,736
Value of certain deemed distributions of participant loans2020-12-31$0
Value of corrective distributions2020-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$263
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0

Form 5500 Responses for THE BERNSTEIN LAW FIRM CASH BALANCE PLAN

2020: THE BERNSTEIN LAW FIRM CASH BALANCE PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingNo
2020-01-01This return/report is a short plan year return/report (less than 12 months)No
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes

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