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SOUTH BAY OPTOMETRY, INC. 401(K) PLAN 401k Plan overview

Plan NameSOUTH BAY OPTOMETRY, INC. 401(K) PLAN
Plan identification number 001

SOUTH BAY OPTOMETRY, INC. 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • 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.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Plan covering Self-Employed individuals.
  • 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

SOUTH BAY OPTOMETRY, INC. has sponsored the creation of one or more 401k plans.

Company Name:SOUTH BAY OPTOMETRY, INC.
Employer identification number (EIN):900946744
NAIC Classification:621320
NAIC Description:Offices of Optometrists

Additional information about SOUTH BAY OPTOMETRY, INC.

Jurisdiction of Incorporation: California Department of State
Incorporation Date: 2013-03-04
Company Identification Number: C3541001
Legal Registered Office Address: 3537 Torrance Blvd Ste 18

Torrance
United States of America (USA)
90503

More information about SOUTH BAY OPTOMETRY, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SOUTH BAY OPTOMETRY, INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01ALBERT CHUN2024-06-26 ALBERT CHUN2024-06-26
0012022-01-01ALBERT CHUN2023-06-09 ALBERT CHUN2023-06-09
0012021-01-01ALBERT K CHUN2022-05-03 ALBERT K CHUN2022-05-03
0012020-01-01ALBERT CHUN2021-06-16
0012018-01-01ALBERT CHUN2019-08-22

Plan Statistics for SOUTH BAY OPTOMETRY, INC. 401(K) PLAN

401k plan membership statisitcs for SOUTH BAY OPTOMETRY, INC. 401(K) PLAN

Measure Date Value
2025: SOUTH BAY OPTOMETRY, INC. 401(K) PLAN 2025 401k membership
Total number of particpants at beginning of year2025-05-1210
Total number of particpants at end of year2025-05-1210
Number of Participants With Account Balances2025-05-1210
2024: SOUTH BAY OPTOMETRY, INC. 401(K) PLAN 2024 401k membership
Total number of particpants at beginning of year2024-06-269
Total number of particpants at end of year2024-06-2610
Number of Participants With Account Balances2024-06-2610
2022: SOUTH BAY OPTOMETRY, INC. 401(K) PLAN 2022 401k membership
Total number of particpants at beginning of year2022-05-039
Total number of particpants at end of year2022-05-038
Number of Participants With Account Balances2022-05-038

Financial Data on SOUTH BAY OPTOMETRY, INC. 401(K) PLAN

Measure Date Value
2025 : SOUTH BAY OPTOMETRY, INC. 401(K) PLAN 2025 401k financial data
Total liabilities as of the beginning of the plan year2025-05-120
Total expenses incurred by plan in this plan year2025-05-127000
Net assets as of the end of the plan year2025-05-121330987
Total assets as of the beginning of the plan year2025-05-12960127
Value of plan covered by a fidelity bond2025-05-12100000
Participant contributions to plan in this plan year2025-05-1274910
Other income to plan in this plan year2025-05-12208303
Plan net income in this plan year2025-05-12370860
Net assets as of the end of the plan year2025-05-121330987
Net assets as of the beginning of the plan year2025-05-12960127
Employer contributions to plan in this plan year2025-05-1294647
Expensese paid to adminstrative service provicers from plan in this plan year2025-05-1275
2024 : SOUTH BAY OPTOMETRY, INC. 401(K) PLAN 2024 401k financial data
Total liabilities as of the beginning of the plan year2024-06-260
Total expenses incurred by plan in this plan year2024-06-260
Net assets as of the end of the plan year2024-06-26960127
Total assets as of the beginning of the plan year2024-06-26637003
Value of plan covered by a fidelity bond2024-06-26100000
Participant contributions to plan in this plan year2024-06-2667031
Other income to plan in this plan year2024-06-26170262
Plan net income in this plan year2024-06-26323124
Net assets as of the end of the plan year2024-06-26960127
Net assets as of the beginning of the plan year2024-06-26637003
Employer contributions to plan in this plan year2024-06-2685831
Expensese paid to adminstrative service provicers from plan in this plan year2024-06-260
2022 : SOUTH BAY OPTOMETRY, INC. 401(K) PLAN 2022 401k financial data
Total liabilities as of the beginning of the plan year2022-05-030
Total expenses incurred by plan in this plan year2022-05-0312991
Net assets as of the end of the plan year2022-05-03609962
Total assets as of the beginning of the plan year2022-05-03409534
Value of plan covered by a fidelity bond2022-05-0330000
Participant contributions to plan in this plan year2022-05-0361350
Other income to plan in this plan year2022-05-0399365
Plan net income in this plan year2022-05-03200428
Net assets as of the end of the plan year2022-05-03609962
Net assets as of the beginning of the plan year2022-05-03409534
Employer contributions to plan in this plan year2022-05-0352704
Expensese paid to adminstrative service provicers from plan in this plan year2022-05-0375

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