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MICHAEL J SCHERMER M D 401(K) PROFIT SHARING PLAN & TRUST 401k Plan overview

Plan NameMICHAEL J SCHERMER M D 401(K) PROFIT SHARING PLAN & TRUST
Plan identification number 001

MICHAEL J SCHERMER M D 401(K) PROFIT SHARING PLAN & TRUST 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.
  • 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 J SCHERMER M D has sponsored the creation of one or more 401k plans.

Company Name:MICHAEL J SCHERMER M D
Employer identification number (EIN):942446800
NAIC Classification:621320
NAIC Description:Offices of Optometrists

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MICHAEL J SCHERMER M D 401(K) PROFIT SHARING PLAN & TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01MICHAEL J SCHERMER2024-06-18
0012022-01-01MICHAEL J SCHERMER2023-06-17
0012021-01-01MICHAEL J SCHERMER2022-05-21
0012020-01-01MICHAEL SCHERMER2021-06-11
0012019-01-01MICHAEL SCHERMER2020-05-09
0012018-01-01MICHAEL SCHERMER2019-03-17
0012017-01-01MICHAEL SCHERMER2018-06-03
0012017-01-01MICHAEL SCHERMER2018-06-04
0012016-01-01MICHAEL SCHERMER2017-07-13
0012015-01-01MICHAEL J. SCHERMER2016-08-15
0012014-01-01MICHAEL SCHERMER2015-06-09
0012013-01-01MICHAEL SCHERMER MD2015-06-09
0012012-01-01MICHAEL J SCHERMER M D2013-07-30
0012011-01-01MICHAEL J SCHERMER M D2012-05-08
0012010-01-01MICHAEL J SCHERMER M D2011-07-14

Financial Data on MICHAEL J SCHERMER M D 401(K) PROFIT SHARING PLAN & TRUST

Measure Date Value
2025 : MICHAEL J SCHERMER M D 401(K) PROFIT SHARING PLAN & TRUST 2025 401k financial data
Total transfers to/from plan in this plan year2025-05-150
Total liabilities as of the end of the plan year2025-05-150
Total liabilities as of the beginning of the plan year2025-05-150
Total expenses incurred by plan in this plan year2025-05-15207982
Net assets as of the end of the plan year2025-05-15494316
Total assets as of the beginning of the plan year2025-05-15541242
Value of plan covered by a fidelity bond2025-05-15100000
Participant contributions to plan in this plan year2025-05-1557951
Other expenses paid from plan in this plan year2025-05-150
Other contributions to plan in this plan year2025-05-150
Other income to plan in this plan year2025-05-1580888
Plan net income in this plan year2025-05-15-46926
Net assets as of the end of the plan year2025-05-15494316
Net assets as of the beginning of the plan year2025-05-15541242
Employer contributions to plan in this plan year2025-05-1522217
Expensese paid to adminstrative service provicers from plan in this plan year2025-05-15135
2024 : MICHAEL J SCHERMER M D 401(K) PROFIT SHARING PLAN & TRUST 2024 401k financial data
Total transfers to/from plan in this plan year2024-06-180
Total liabilities as of the end of the plan year2024-06-180
Total liabilities as of the beginning of the plan year2024-06-180
Total expenses incurred by plan in this plan year2024-06-1829426
Net assets as of the end of the plan year2024-06-18541242
Total assets as of the beginning of the plan year2024-06-18419651
Value of plan covered by a fidelity bond2024-06-18100000
Participant contributions to plan in this plan year2024-06-1850977
Other expenses paid from plan in this plan year2024-06-180
Other contributions to plan in this plan year2024-06-180
Other income to plan in this plan year2024-06-1880572
Plan net income in this plan year2024-06-18121591
Net assets as of the end of the plan year2024-06-18541242
Net assets as of the beginning of the plan year2024-06-18419651
Employer contributions to plan in this plan year2024-06-1819468
Expensese paid to adminstrative service provicers from plan in this plan year2024-06-18210
2022 : MICHAEL J SCHERMER M D 401(K) PROFIT SHARING PLAN & TRUST 2022 401k financial data
Total transfers to/from plan in this plan year2022-05-210
Total liabilities as of the end of the plan year2022-05-210
Total liabilities as of the beginning of the plan year2022-05-210
Total expenses incurred by plan in this plan year2022-05-215499
Net assets as of the end of the plan year2022-05-21445257
Total assets as of the beginning of the plan year2022-05-21330554
Value of plan covered by a fidelity bond2022-05-21100000
Participant contributions to plan in this plan year2022-05-2143648
Other expenses paid from plan in this plan year2022-05-210
Other contributions to plan in this plan year2022-05-210
Other income to plan in this plan year2022-05-2160377
Plan net income in this plan year2022-05-21114703
Net assets as of the end of the plan year2022-05-21445257
Net assets as of the beginning of the plan year2022-05-21330554
Employer contributions to plan in this plan year2022-05-2116177
Expensese paid to adminstrative service provicers from plan in this plan year2022-05-21135

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