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MICHAEL K. LAI, M.D., INC. 401(K) PLAN 401k Plan overview

Plan NameMICHAEL K. LAI, M.D., INC. 401(K) PLAN
Plan identification number 001

MICHAEL K. LAI, M.D., INC. 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • 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.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • 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

MICHAEL K. LAI, M.D., INC. has sponsored the creation of one or more 401k plans.

Company Name:MICHAEL K. LAI, M.D., INC.
Employer identification number (EIN):770517699
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MICHAEL K. LAI, M.D., INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01QIAN LIU2024-05-21

Plan Statistics for MICHAEL K. LAI, M.D., INC. 401(K) PLAN

401k plan membership statisitcs for MICHAEL K. LAI, M.D., INC. 401(K) PLAN

Measure Date Value
2025: MICHAEL K. LAI, M.D., INC. 401(K) PLAN 2025 401k membership
Total number of particpants at beginning of year2025-04-1611
Total number of particpants at end of year2025-04-1613
Number of Participants With Account Balances2025-04-1613
2024: MICHAEL K. LAI, M.D., INC. 401(K) PLAN 2024 401k membership
Total number of particpants at beginning of year2024-05-210
Total number of particpants at end of year2024-05-2115
Number of Participants With Account Balances2024-05-2111

Financial Data on MICHAEL K. LAI, M.D., INC. 401(K) PLAN

Measure Date Value
2025 : MICHAEL K. LAI, M.D., INC. 401(K) PLAN 2025 401k financial data
Total transfers to/from plan in this plan year2025-04-160
Total liabilities as of the end of the plan year2025-04-160
Total liabilities as of the beginning of the plan year2025-04-160
Total expenses incurred by plan in this plan year2025-04-1631332
Net assets as of the end of the plan year2025-04-1657256
Total assets as of the beginning of the plan year2025-04-1625447
Value of plan covered by a fidelity bond2025-04-16917471694
Participant contributions to plan in this plan year2025-04-1634190
Other expenses paid from plan in this plan year2025-04-160
Other contributions to plan in this plan year2025-04-160
Other income to plan in this plan year2025-04-166070
Plan net income in this plan year2025-04-1631809
Net assets as of the end of the plan year2025-04-1657256
Net assets as of the beginning of the plan year2025-04-1625447
Value of contributions failed to transmitted timely2025-04-160
Employer contributions to plan in this plan year2025-04-1622881
Fees paid to broker by Benefit Provider2025-04-160
Expensese paid to adminstrative service provicers from plan in this plan year2025-04-1641
2024 : MICHAEL K. LAI, M.D., INC. 401(K) PLAN 2024 401k financial data
Total transfers to/from plan in this plan year2024-05-210
Total liabilities as of the end of the plan year2024-05-210
Total liabilities as of the beginning of the plan year2024-05-210
Total expenses incurred by plan in this plan year2024-05-218
Net assets as of the end of the plan year2024-05-2125447
Total assets as of the beginning of the plan year2024-05-210
Value of plan covered by a fidelity bond2024-05-21705050000
Participant contributions to plan in this plan year2024-05-2114260
Other expenses paid from plan in this plan year2024-05-210
Other contributions to plan in this plan year2024-05-210
Other income to plan in this plan year2024-05-211557
Plan net income in this plan year2024-05-2125447
Net assets as of the end of the plan year2024-05-2125447
Net assets as of the beginning of the plan year2024-05-210
Value of contributions failed to transmitted timely2024-05-210
Employer contributions to plan in this plan year2024-05-219638
Fees paid to broker by Benefit Provider2024-05-210
Expensese paid to adminstrative service provicers from plan in this plan year2024-05-218

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