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OPHTHALMIC ASSOCIATES 401(K) PROFIT SHARING PLAN & TRUST 401k Plan overview

Plan NameOPHTHALMIC ASSOCIATES 401(K) PROFIT SHARING PLAN & TRUST
Plan identification number 003

OPHTHALMIC ASSOCIATES 401(K) PROFIT SHARING PLAN & TRUST 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.
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

OPHTHALMIC ASSOCIATES has sponsored the creation of one or more 401k plans.

Company Name:OPHTHALMIC ASSOCIATES
Employer identification number (EIN):251198267
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan OPHTHALMIC ASSOCIATES 401(K) PROFIT SHARING PLAN & TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032022-01-01BROZETTI2023-09-17
0032021-01-01
0032020-04-01JOHN J. BROZETTI2021-10-13
0032019-04-01
0032018-04-01
0032017-04-01JOHN J. BROZETTI2018-12-21
0032016-04-01JOSEPH R. POLITO2017-10-23
0032015-04-01JOSEPH R. POLITO2016-10-24
0032014-04-01JOSEPH R. POLITO2015-08-24
0032013-04-01SAMUEL GLASS2014-12-31
0032012-04-01SAMUEL GLASS2013-07-10
0032011-04-01SAMUEL L. GLASS2012-10-29
0032010-04-01SAMUEL L. GLASS2011-12-16

Plan Statistics for OPHTHALMIC ASSOCIATES 401(K) PROFIT SHARING PLAN & TRUST

401k plan membership statisitcs for OPHTHALMIC ASSOCIATES 401(K) PROFIT SHARING PLAN & TRUST

Measure Date Value
2021: OPHTHALMIC ASSOCIATES 401(K) PROFIT SHARING PLAN & TRUST 2021 401k membership
Total participants, beginning-of-year2021-01-0164
Total number of active participants reported on line 7a of the Form 55002021-01-0163
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-0132
Total of all active and inactive participants2021-01-0195
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-0195
Number of participants with account balances2021-01-0195
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010
2019: OPHTHALMIC ASSOCIATES 401(K) PROFIT SHARING PLAN & TRUST 2019 401k membership
Total participants, beginning-of-year2019-04-01137
Total number of active participants reported on line 7a of the Form 55002019-04-0169
Number of retired or separated participants receiving benefits2019-04-010
Number of other retired or separated participants entitled to future benefits2019-04-0129
Total of all active and inactive participants2019-04-0198
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-04-010
Total participants2019-04-0198
Number of participants with account balances2019-04-0198
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-04-0110
2018: OPHTHALMIC ASSOCIATES 401(K) PROFIT SHARING PLAN & TRUST 2018 401k membership
Total participants, beginning-of-year2018-04-01122
Total number of active participants reported on line 7a of the Form 55002018-04-0182
Number of retired or separated participants receiving benefits2018-04-010
Number of other retired or separated participants entitled to future benefits2018-04-0152
Total of all active and inactive participants2018-04-01134
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-04-010
Total participants2018-04-01134
Number of participants with account balances2018-04-01134
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-04-018

Financial Data on OPHTHALMIC ASSOCIATES 401(K) PROFIT SHARING PLAN & TRUST

Measure Date Value
2021 : OPHTHALMIC ASSOCIATES 401(K) PROFIT SHARING PLAN & TRUST 2021 401k financial data
Transfers to/from the plan2021-12-31$0
Total plan liabilities at end of year2021-12-31$0
Total plan liabilities at beginning of year2021-12-31$0
Total income from all sources2021-12-31$824,809
Expenses. Total of all expenses incurred2021-12-31$4,090,241
Benefits paid (including direct rollovers)2021-12-31$4,066,654
Total plan assets at end of year2021-12-31$3,444,672
Total plan assets at beginning of year2021-12-31$6,710,104
Value of fidelity bond covering the plan2021-12-31$0
Total contributions received or receivable from participants2021-12-31$137,575
Expenses. Other expenses not covered elsewhere2021-12-31$0
Contributions received from other sources (not participants or employers)2021-12-31$0
Other income received2021-12-31$638,102
Net income (gross income less expenses)2021-12-31$-3,265,432
Net plan assets at end of year (total assets less liabilities)2021-12-31$3,444,672
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$6,710,104
Total contributions received or receivable from employer(s)2021-12-31$49,132
Value of certain deemed distributions of participant loans2021-12-31$0
Value of corrective distributions2021-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$23,587
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
Funding deficiency by the employer to the plan for this plan year2021-12-31$0
Minimum employer required contribution for this plan year2021-12-31$0
Amount contributed by the employer to the plan for this plan year2021-12-31$0
2020 : OPHTHALMIC ASSOCIATES 401(K) PROFIT SHARING PLAN & TRUST 2020 401k financial data
Total unrealized appreciation/depreciation of assets2020-03-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-03-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-03-31$0
Total income from all sources (including contributions)2020-03-31$47,886
Total loss/gain on sale of assets2020-03-31$0
Total of all expenses incurred2020-03-31$306,700
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-03-31$306,620
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-03-31$393,437
Value of total assets at end of year2020-03-31$6,416,105
Value of total assets at beginning of year2020-03-31$6,674,919
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-03-31$80
Total interest from all sources2020-03-31$-159
Total dividends received (eg from common stock, registered investment company shares)2020-03-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-03-31No
Was this plan covered by a fidelity bond2020-03-31Yes
Value of fidelity bond cover2020-03-31$500,000
If this is an individual account plan, was there a blackout period2020-03-31No
Were there any nonexempt tranactions with any party-in-interest2020-03-31No
Contributions received from participants2020-03-31$186,454
Participant contributions at end of year2020-03-31$17,606
Participant contributions at beginning of year2020-03-31$13,712
Income. Received or receivable in cash from other sources (including rollovers)2020-03-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-03-31No
Income. Non cash contributions2020-03-31$0
Value of net income/loss2020-03-31$-258,814
Value of net assets at end of year (total assets less liabilities)2020-03-31$6,416,105
Value of net assets at beginning of year (total assets less liabilities)2020-03-31$6,674,919
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-03-31No
Were any loans by the plan or fixed income obligations due to the plan in default2020-03-31No
Were any leases to which the plan was party in default or uncollectible2020-03-31No
Value of interest in pooled separate accounts at end of year2020-03-31$5,098,819
Value of interest in pooled separate accounts at beginning of year2020-03-31$5,361,291
Interest earned on other investments2020-03-31$-159
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2020-03-31$1,092,697
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2020-03-31$1,093,227
Net investment gain/loss from pooled separate accounts2020-03-31$-345,392
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-03-31No
Was there a failure to transmit to the plan any participant contributions2020-03-31No
Has the plan failed to provide any benefit when due under the plan2020-03-31No
Contributions received in cash from employer2020-03-31$206,983
Employer contributions (assets) at end of year2020-03-31$206,983
Employer contributions (assets) at beginning of year2020-03-31$206,689
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-03-31$306,620
Contract administrator fees2020-03-31$80
Did the plan have assets held for investment2020-03-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-03-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-03-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2020-03-31Yes
Opinion of an independent qualified public accountant for this plan2020-03-31Disclaimer
Accountancy firm name2020-03-31BUCKLER, MCKENNEY & NADZADI PC
Accountancy firm EIN2020-03-31251769537
2019 : OPHTHALMIC ASSOCIATES 401(K) PROFIT SHARING PLAN & TRUST 2019 401k financial data
Total unrealized appreciation/depreciation of assets2019-03-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-03-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-03-31$0
Total income from all sources (including contributions)2019-03-31$576,018
Total loss/gain on sale of assets2019-03-31$0
Total of all expenses incurred2019-03-31$104,397
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-03-31$104,357
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-03-31$383,557
Value of total assets at end of year2019-03-31$6,674,919
Value of total assets at beginning of year2019-03-31$6,203,298
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-03-31$40
Total interest from all sources2019-03-31$2,375
Total dividends received (eg from common stock, registered investment company shares)2019-03-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-03-31No
Was this plan covered by a fidelity bond2019-03-31Yes
Value of fidelity bond cover2019-03-31$500,000
If this is an individual account plan, was there a blackout period2019-03-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-03-31$0
Were there any nonexempt tranactions with any party-in-interest2019-03-31No
Contributions received from participants2019-03-31$176,868
Participant contributions at end of year2019-03-31$13,712
Participant contributions at beginning of year2019-03-31$16,586
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2019-03-31No
Value of net income/loss2019-03-31$471,621
Value of net assets at end of year (total assets less liabilities)2019-03-31$6,674,919
Value of net assets at beginning of year (total assets less liabilities)2019-03-31$6,203,298
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-03-31No
Were any loans by the plan or fixed income obligations due to the plan in default2019-03-31No
Were any leases to which the plan was party in default or uncollectible2019-03-31No
Value of interest in pooled separate accounts at end of year2019-03-31$5,361,291
Value of interest in pooled separate accounts at beginning of year2019-03-31$4,948,873
Interest earned on other investments2019-03-31$2,375
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2019-03-31$1,093,227
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2019-03-31$1,042,136
Net investment gain/loss from pooled separate accounts2019-03-31$190,086
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-03-31No
Was there a failure to transmit to the plan any participant contributions2019-03-31No
Has the plan failed to provide any benefit when due under the plan2019-03-31No
Contributions received in cash from employer2019-03-31$206,689
Employer contributions (assets) at end of year2019-03-31$206,689
Employer contributions (assets) at beginning of year2019-03-31$195,703
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-03-31$104,357
Contract administrator fees2019-03-31$40
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32019-03-31No
Did the plan have assets held for investment2019-03-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2019-03-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-03-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2019-03-31Yes
Opinion of an independent qualified public accountant for this plan2019-03-31Disclaimer
Accountancy firm name2019-03-31BUCKLER, MCKENNEY & NADZADI PC
Accountancy firm EIN2019-03-31251769537

Form 5500 Responses for OPHTHALMIC ASSOCIATES 401(K) PROFIT SHARING PLAN & TRUST

2021: OPHTHALMIC ASSOCIATES 401(K) PROFIT SHARING PLAN & TRUST 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedNo
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2019: OPHTHALMIC ASSOCIATES 401(K) PROFIT SHARING PLAN & TRUST 2019 form 5500 responses
2019-04-01Type of plan entitySingle employer plan
2019-04-01Submission has been amendedNo
2019-04-01This submission is the final filingNo
2019-04-01This return/report is a short plan year return/report (less than 12 months)No
2019-04-01Plan is a collectively bargained planNo
2019-04-01Plan funding arrangement – InsuranceYes
2019-04-01Plan funding arrangement – TrustYes
2019-04-01Plan benefit arrangement - TrustYes
2018: OPHTHALMIC ASSOCIATES 401(K) PROFIT SHARING PLAN & TRUST 2018 form 5500 responses
2018-04-01Type of plan entitySingle employer plan
2018-04-01Submission has been amendedNo
2018-04-01This submission is the final filingNo
2018-04-01This return/report is a short plan year return/report (less than 12 months)No
2018-04-01Plan is a collectively bargained planNo
2018-04-01Plan funding arrangement – InsuranceYes
2018-04-01Plan funding arrangement – TrustYes
2018-04-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

TRANSAMERICA FINANCIAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 70688 )
Policy contract number600531-000
Policy instance 1
Insurance contract or identification number600531-000
Number of Individuals Covered98
Insurance policy start date2019-04-01
Insurance policy end date2020-03-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $21,633
Are there contracts with allocated funds for individual policies?0
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Amount paid for insurance broker fees18197
Additional information about fees paid to insurance brokerBROKER COMMISSION
Insurance broker organization code?3
TRANSAMERICA FINANCIAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 70688 )
Policy contract number600531-000
Policy instance 1
Insurance contract or identification number600531-000
Number of Individuals Covered134
Insurance policy start date2018-04-01
Insurance policy end date2019-03-31
Total amount of commissions paid to insurance brokerUSD $16,392
Total amount of fees paid to insurance companyUSD $3,095
Are there contracts with allocated funds for individual policies?0
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $16,392
Amount paid for insurance broker fees0
Additional information about fees paid to insurance brokerBROKER COMMISSION
Insurance broker organization code?3

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