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ORTHOPEDIC INSTITUTE - GALLIVAN DEFINED BENEFIT PENSION PLAN 401k Plan overview

Plan NameORTHOPEDIC INSTITUTE - GALLIVAN DEFINED BENEFIT PENSION PLAN
Plan identification number 004

ORTHOPEDIC INSTITUTE - GALLIVAN DEFINED BENEFIT PENSION PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Floor-offset plan - Plan benefits are subject to offset for retirement benefits provided by an employer-sponsored defined contribution plan.
  • 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

WILLIAM R. GALLIVAN, JR., M.D., INC. has sponsored the creation of one or more 401k plans.

Company Name:WILLIAM R. GALLIVAN, JR., M.D., INC.
Employer identification number (EIN):770451442
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan ORTHOPEDIC INSTITUTE - GALLIVAN DEFINED BENEFIT PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0042022-01-01
0042021-01-01DAVID A. PECKHAM, FOR SBPC, INC.2022-10-17
0042020-01-01DAVID A. PECKHAM, FOR SBPC, INC.2021-10-15
0042019-01-01DAVID A. PECKHAM, FOR SBPC, INC.2020-10-15

Plan Statistics for ORTHOPEDIC INSTITUTE - GALLIVAN DEFINED BENEFIT PENSION PLAN

401k plan membership statisitcs for ORTHOPEDIC INSTITUTE - GALLIVAN DEFINED BENEFIT PENSION PLAN

Measure Date Value
2022: ORTHOPEDIC INSTITUTE - GALLIVAN DEFINED BENEFIT PENSION PLAN 2022 401k membership
Market value of plan assets2022-12-31800,812
Acturial value of plan assets2022-12-31800,812
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-312
Fundng target for terminated vested participants2022-12-3118
Active participant vested funding target2022-12-31713,185
Number of active participants2022-12-316
Total funding liabilities for active participants2022-12-31713,185
Total participant count2022-12-318
Total funding target for all participants2022-12-31713,203
Amount remaining of carryover balance2022-12-310
Amount remaining of prefunding balance2022-12-310
Present value of excess contributions2022-12-31116,532
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31123,069
Balance of carryovers at beginning of current year2022-12-310
Balance of prefunding at beginning of current year2022-12-310
Total employer contributions2022-12-31156,969
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 date2022-12-31151,240
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 cost2022-12-31238,829
Net shortfall amortization installment of oustanding balance2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-31151,220
Additional cash requirement2022-12-31151,220
Contributions allocatedtoward minimum required contributions for current year2022-12-31151,240
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
Total participants, beginning-of-year2022-01-016
Total number of active participants reported on line 7a of the Form 55002022-01-016
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-010
Total of all active and inactive participants2022-01-016
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-016
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-011
2021: ORTHOPEDIC INSTITUTE - GALLIVAN DEFINED BENEFIT PENSION PLAN 2021 401k membership
Market value of plan assets2021-12-31532,830
Acturial value of plan assets2021-12-31532,830
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-314
Fundng target for terminated vested participants2021-12-3115
Active participant vested funding target2021-12-31438,368
Number of active participants2021-12-315
Total funding liabilities for active participants2021-12-31438,368
Total participant count2021-12-319
Total funding target for all participants2021-12-31438,383
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2021-12-310
Prefunding balanced used to offset prior years funding requirement2021-12-310
Amount remaining of carryover balance2021-12-310
Amount remaining of prefunding balance2021-12-310
Present value of excess contributions2021-12-3191,386
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-3196,668
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 year2021-12-310
Total employer contributions2021-12-31250,000
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 date2021-12-31240,607
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 cost2021-12-31218,522
Net shortfall amortization installment of oustanding balance2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-31124,075
Additional cash requirement2021-12-31124,075
Contributions allocatedtoward minimum required contributions for current year2021-12-31240,607
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: ORTHOPEDIC INSTITUTE - GALLIVAN DEFINED BENEFIT PENSION PLAN 2020 401k membership
Market value of plan assets2020-12-31253,831
Acturial value of plan assets2020-12-31253,831
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-311
Fundng target for terminated vested participants2020-12-310
Active participant vested funding target2020-12-31203,344
Number of active participants2020-12-313
Total funding liabilities for active participants2020-12-31203,344
Total participant count2020-12-314
Total funding target for all participants2020-12-31203,344
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 contributions2020-12-3144,806
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-3147,347
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 year2020-12-310
Total employer contributions2020-12-31252,000
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 date2020-12-31243,088
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 cost2020-12-31202,189
Net shortfall amortization installment of oustanding balance2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-31151,702
Additional cash requirement2020-12-31151,702
Contributions allocatedtoward minimum required contributions for current year2020-12-31243,088
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: ORTHOPEDIC INSTITUTE - GALLIVAN DEFINED BENEFIT PENSION 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 participants2019-12-313
Total funding liabilities for active participants2019-12-310
Total participant count2019-12-313
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 contributions2019-12-31250,000
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 date2019-12-31240,618
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 cost2019-12-31195,812
Net shortfall amortization installment of oustanding balance2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31195,812
Additional cash requirement2019-12-31195,812
Contributions allocatedtoward minimum required contributions for current year2019-12-31240,618
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310

Financial Data on ORTHOPEDIC INSTITUTE - GALLIVAN DEFINED BENEFIT PENSION PLAN

Measure Date Value
2022 : ORTHOPEDIC INSTITUTE - GALLIVAN DEFINED BENEFIT PENSION PLAN 2022 401k financial data
Total plan liabilities at end of year2022-12-31$0
Total plan liabilities at beginning of year2022-12-31$0
Total income from all sources2022-12-31$175,296
Expenses. Total of all expenses incurred2022-12-31$345
Benefits paid (including direct rollovers)2022-12-31$0
Total plan assets at end of year2022-12-31$957,781
Total plan assets at beginning of year2022-12-31$782,830
Total contributions received or receivable from participants2022-12-31$0
Assets. Value of loans (other than to participants)2022-12-31$595,105
Expenses. Other expenses not covered elsewhere2022-12-31$345
Contributions received from other sources (not participants or employers)2022-12-31$0
Other income received2022-12-31$18,327
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$174,951
Net plan assets at end of year (total assets less liabilities)2022-12-31$957,781
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$782,830
Total contributions received or receivable from employer(s)2022-12-31$156,969
Value of certain deemed distributions of participant loans2022-12-31$0
Value of corrective distributions2022-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$0

Form 5500 Responses for ORTHOPEDIC INSTITUTE - GALLIVAN DEFINED BENEFIT PENSION PLAN

2022: ORTHOPEDIC INSTITUTE - GALLIVAN DEFINED BENEFIT PENSION PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes

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