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NORTH EDISON FAMILY PRACTICE, LLC CASH BALANCE PLAN 401k Plan overview

Plan NameNORTH EDISON FAMILY PRACTICE, LLC CASH BALANCE PLAN
Plan identification number 002

NORTH EDISON FAMILY PRACTICE, LLC CASH BALANCE PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • 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).
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

NORTH EDISON FAMILY PRACTICE, LLC has sponsored the creation of one or more 401k plans.

Company Name:NORTH EDISON FAMILY PRACTICE, LLC
Employer identification number (EIN):202160295
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan NORTH EDISON FAMILY PRACTICE, LLC CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-03-01
0022021-03-01
0022020-03-01
0022019-03-01

Plan Statistics for NORTH EDISON FAMILY PRACTICE, LLC CASH BALANCE PLAN

401k plan membership statisitcs for NORTH EDISON FAMILY PRACTICE, LLC CASH BALANCE PLAN

Measure Date Value
2022: NORTH EDISON FAMILY PRACTICE, LLC CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-311,134,503
Acturial value of plan assets2022-12-311,134,503
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-311
Fundng target for terminated vested participants2022-12-31218
Active participant vested funding target2022-12-31757,508
Number of active participants2022-12-3113
Total funding liabilities for active participants2022-12-31758,006
Total participant count2022-12-3114
Total funding target for all participants2022-12-31758,224
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-3125,093
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 balance2022-12-3125,093
Present value of excess contributions2022-12-31375,965
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-31396,154
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-31396,154
Reductions in caryover balances due to elections or deemed elections2022-12-310
Reductions in prefunding balances due to elections or deemed elections2022-12-310
Balance of carryovers at beginning of current year2022-12-310
Balance of prefunding at beginning of current year2022-12-31421,021
Total employer contributions2022-12-31496,945
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 date2022-12-31477,404
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 cost2022-12-31253,529
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-31253,529
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-31253,529
Contributions allocatedtoward minimum required contributions for current year2022-12-31477,404
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
Market value of plan assets2022-02-28561,714
Acturial value of plan assets2022-02-28561,714
Funding target for retired participants and beneficiaries receiving payment2022-02-280
Number of terminated vested participants2022-02-281
Fundng target for terminated vested participants2022-02-28198
Active participant vested funding target2022-02-28287,443
Number of active participants2022-02-2811
Total funding liabilities for active participants2022-02-28445,239
Total participant count2022-02-2812
Total funding target for all participants2022-02-28445,437
Balance at beginning of prior year after applicable adjustments2022-02-280
Prefunding balance at beginning of prior year after applicable adjustments2022-02-287,759
Carryover balanced portion elected for use to offset prior years funding requirement2022-02-280
Prefunding balanced used to offset prior years funding requirement2022-02-280
Amount remaining of carryover balance2022-02-280
Amount remaining of prefunding balance2022-02-287,759
Present value of excess contributions2022-02-2815,132
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-02-2815,966
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-02-2815,966
Reductions in caryover balances due to elections or deemed elections2022-02-280
Reductions in prefunding balances due to elections or deemed elections2022-02-280
Balance of carryovers at beginning of current year2022-02-280
Balance of prefunding at beginning of current year2022-02-2825,093
Total employer contributions2022-02-28578,686
Total employee contributions2022-02-280
Contributions allocated toward unpaid minimum require contributions from prior years2022-02-280
Contributions made to avoid restrictions adjusted to valuation date2022-02-280
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-02-28542,793
Unpaid minimum required contributions for all prior years2022-02-280
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-02-280
Remaining amount of unpaid minimum required contributions2022-02-280
Minimum required contributions for current year target normal cost2022-02-28258,012
Net shortfall amortization installment of oustanding balance2022-02-280
Waiver amortization installment2022-02-280
Total funding amount beforereflecting carryover/prefunding balances2022-02-28166,828
Carryover balance elected to use to offset funding requirement2022-02-280
Prefunding balance elected to use to offset funding requirement2022-02-280
Additional cash requirement2022-02-28166,828
Contributions allocatedtoward minimum required contributions for current year2022-02-28542,793
Unpaid minimum required contributions for current year2022-02-280
Unpaid minimum required contributions for all years2022-02-280
2021: NORTH EDISON FAMILY PRACTICE, LLC CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-02-28154,905
Acturial value of plan assets2021-02-28154,905
Funding target for retired participants and beneficiaries receiving payment2021-02-280
Number of terminated vested participants2021-02-280
Fundng target for terminated vested participants2021-02-280
Active participant vested funding target2021-02-28128,466
Number of active participants2021-02-288
Total funding liabilities for active participants2021-02-28128,466
Total participant count2021-02-288
Total funding target for all participants2021-02-28128,466
Balance at beginning of prior year after applicable adjustments2021-02-280
Prefunding balance at beginning of prior year after applicable adjustments2021-02-280
Amount remaining of carryover balance2021-02-280
Amount remaining of prefunding balance2021-02-280
Present value of excess contributions2021-02-287,364
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-02-287,759
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-02-287,759
Reductions in caryover balances due to elections or deemed elections2021-02-280
Reductions in prefunding balances due to elections or deemed elections2021-02-280
Balance of carryovers at beginning of current year2021-02-280
Balance of prefunding at beginning of current year2021-02-287,759
Total employer contributions2021-02-28353,094
Total employee contributions2021-02-280
Contributions allocated toward unpaid minimum require contributions from prior years2021-02-280
Contributions made to avoid restrictions adjusted to valuation date2021-02-280
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-02-28327,891
Unpaid minimum required contributions for all prior years2021-02-280
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-02-280
Remaining amount of unpaid minimum required contributions2021-02-280
Minimum required contributions for current year target normal cost2021-02-28175,940
Net shortfall amortization installment of oustanding balance2021-02-280
Waiver amortization installment2021-02-280
Total funding amount beforereflecting carryover/prefunding balances2021-02-28157,260
Carryover balance elected to use to offset funding requirement2021-02-280
Prefunding balance elected to use to offset funding requirement2021-02-280
Additional cash requirement2021-02-28157,260
Contributions allocatedtoward minimum required contributions for current year2021-02-28327,891
Unpaid minimum required contributions for current year2021-02-280
Unpaid minimum required contributions for all years2021-02-280
2020: NORTH EDISON FAMILY PRACTICE, LLC CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-02-290
Acturial value of plan assets2020-02-290
Funding target for retired participants and beneficiaries receiving payment2020-02-290
Number of terminated vested participants2020-02-290
Fundng target for terminated vested participants2020-02-290
Active participant vested funding target2020-02-290
Number of active participants2020-02-295
Total funding liabilities for active participants2020-02-290
Total participant count2020-02-295
Total funding target for all participants2020-02-290
Balance at beginning of prior year after applicable adjustments2020-02-290
Prefunding balance at beginning of prior year after applicable adjustments2020-02-290
Carryover balanced portion elected for use to offset prior years funding requirement2020-02-290
Prefunding balanced used to offset prior years funding requirement2020-02-290
Amount remaining of carryover balance2020-02-290
Amount remaining of prefunding balance2020-02-290
Present value of excess contributions2020-02-290
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-02-290
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-02-290
Reductions in caryover balances due to elections or deemed elections2020-02-290
Reductions in prefunding balances due to elections or deemed elections2020-02-290
Balance of carryovers at beginning of current year2020-02-290
Balance of prefunding at beginning of current year2020-02-290
Total employer contributions2020-02-29156,257
Total employee contributions2020-02-290
Contributions allocated toward unpaid minimum require contributions from prior years2020-02-290
Contributions made to avoid restrictions adjusted to valuation date2020-02-290
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-02-29147,016
Unpaid minimum required contributions for all prior years2020-02-290
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-02-290
Remaining amount of unpaid minimum required contributions2020-02-290
Minimum required contributions for current year target normal cost2020-02-29139,652
Net shortfall amortization installment of oustanding balance2020-02-290
Waiver amortization installment2020-02-290
Total funding amount beforereflecting carryover/prefunding balances2020-02-29139,652
Additional cash requirement2020-02-29139,652
Contributions allocatedtoward minimum required contributions for current year2020-02-29147,016
Unpaid minimum required contributions for current year2020-02-290
Unpaid minimum required contributions for all years2020-02-290

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