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MEDSTAR LABORATORY, INC. 401(K) PLAN 401k Plan overview

Plan NameMEDSTAR LABORATORY, INC. 401(K) PLAN
Plan identification number 001

MEDSTAR LABORATORY, 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.
  • 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

MEDSTAR LABORATORY, INC. has sponsored the creation of one or more 401k plans.

Company Name:MEDSTAR LABORATORY, INC.
Employer identification number (EIN):364215081
NAIC Classification:621510
NAIC Description: Medical and Diagnostic Laboratories

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MEDSTAR LABORATORY, INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012020-01-01
0012019-01-01
0012018-01-01
0012018-01-01
0012017-01-01RAJ PATEL2018-10-05 RAJ PATEL2018-10-05
0012016-01-01RAJ PATEL2017-10-12 RAJ PATEL2017-10-12

Plan Statistics for MEDSTAR LABORATORY, INC. 401(K) PLAN

401k plan membership statisitcs for MEDSTAR LABORATORY, INC. 401(K) PLAN

Measure Date Value
2020: MEDSTAR LABORATORY, INC. 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-01138
Total number of active participants reported on line 7a of the Form 55002020-01-0191
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-0114
Total of all active and inactive participants2020-01-01105
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-01105
Number of participants with account balances2020-01-0144
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: MEDSTAR LABORATORY, INC. 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-01116
Total number of active participants reported on line 7a of the Form 55002019-01-0199
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-0112
Total of all active and inactive participants2019-01-01111
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-01111
Number of participants with account balances2019-01-0142
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: MEDSTAR LABORATORY, INC. 401(K) PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-01123
Total number of active participants reported on line 7a of the Form 55002018-01-0197
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-0110
Total of all active and inactive participants2018-01-01107
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-01107
Number of participants with account balances2018-01-0138
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010

Financial Data on MEDSTAR LABORATORY, INC. 401(K) PLAN

Measure Date Value
2021 : MEDSTAR LABORATORY, INC. 401(K) PLAN 2021 401k financial data
Total income from all sources (including contributions)2021-12-31$383,956
Total of all expenses incurred2021-12-31$65,579
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$43,229
Value of total corrective distributions2021-12-31$7,274
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$220,337
Value of total assets at end of year2021-12-31$1,240,333
Value of total assets at beginning of year2021-12-31$921,956
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$15,076
Total interest from all sources2021-12-31$275
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Was this plan covered by a fidelity bond2021-12-31No
If this is an individual account plan, was there a blackout period2021-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Contributions received from participants2021-12-31$131,893
Participant contributions at end of year2021-12-31$8,747
Participant contributions at beginning of year2021-12-31$3,975
Participant contributions at end of year2021-12-31$14,423
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$318,377
Value of net assets at end of year (total assets less liabilities)2021-12-31$1,240,333
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$921,956
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2021-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2021-12-31No
Were any leases to which the plan was party in default or uncollectible2021-12-31No
Investment advisory and management fees2021-12-31$15,076
Value of interest in registered invesment companies (eg mutual funds) at end of year2021-12-31$1,128,719
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-12-31$857,567
Interest on participant loans2021-12-31$275
Net investment gain/loss from pooled separate accounts2021-12-31$163,344
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-12-31No
Was there a failure to transmit to the plan any participant contributions2021-12-31Yes
Has the plan failed to provide any benefit when due under the plan2021-12-31No
Contributions received in cash from employer2021-12-31$88,444
Employer contributions (assets) at end of year2021-12-31$88,444
Employer contributions (assets) at beginning of year2021-12-31$60,414
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$43,229
Did the plan have assets held for investment2021-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2021-12-31No
2020 : MEDSTAR LABORATORY, INC. 401(K) PLAN 2020 401k financial data
Total income from all sources (including contributions)2020-12-31$277,764
Total of all expenses incurred2020-12-31$40,227
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-12-31$29,407
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-12-31$165,632
Value of total assets at end of year2020-12-31$921,956
Value of total assets at beginning of year2020-12-31$684,419
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-12-31$10,820
Total interest from all sources2020-12-31$239
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-12-31No
Was this plan covered by a fidelity bond2020-12-31No
If this is an individual account plan, was there a blackout period2020-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
Were there any nonexempt tranactions with any party-in-interest2020-12-31No
Contributions received from participants2020-12-31$105,218
Participant contributions at end of year2020-12-31$3,975
Participant contributions at beginning of year2020-12-31$5,701
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Value of net income/loss2020-12-31$237,537
Value of net assets at end of year (total assets less liabilities)2020-12-31$921,956
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$684,419
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2020-12-31No
Were any leases to which the plan was party in default or uncollectible2020-12-31No
Investment advisory and management fees2020-12-31$10,820
Value of interest in registered invesment companies (eg mutual funds) at end of year2020-12-31$857,567
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2020-12-31$615,053
Interest on participant loans2020-12-31$239
Net investment gain/loss from pooled separate accounts2020-12-31$111,893
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-12-31No
Was there a failure to transmit to the plan any participant contributions2020-12-31No
Has the plan failed to provide any benefit when due under the plan2020-12-31No
Contributions received in cash from employer2020-12-31$60,414
Employer contributions (assets) at end of year2020-12-31$60,414
Employer contributions (assets) at beginning of year2020-12-31$63,665
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-12-31$29,407
Did the plan have assets held for investment2020-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-12-31No
2019 : MEDSTAR LABORATORY, INC. 401(K) PLAN 2019 401k financial data
Total income from all sources (including contributions)2019-12-31$281,314
Total of all expenses incurred2019-12-31$20,394
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-12-31$11,309
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-12-31$175,635
Value of total assets at end of year2019-12-31$684,419
Value of total assets at beginning of year2019-12-31$423,499
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-12-31$9,085
Total interest from all sources2019-12-31$241
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-12-31No
Was this plan covered by a fidelity bond2019-12-31No
If this is an individual account plan, was there a blackout period2019-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
Were there any nonexempt tranactions with any party-in-interest2019-12-31No
Contributions received from participants2019-12-31$104,772
Participant contributions at end of year2019-12-31$5,701
Participant contributions at beginning of year2019-12-31$5,588
Income. Received or receivable in cash from other sources (including rollovers)2019-12-31$7,198
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Value of net income/loss2019-12-31$260,920
Value of net assets at end of year (total assets less liabilities)2019-12-31$684,419
Value of net assets at beginning of year (total assets less liabilities)2019-12-31$423,499
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2019-12-31No
Were any leases to which the plan was party in default or uncollectible2019-12-31No
Investment advisory and management fees2019-12-31$9,085
Value of interest in registered invesment companies (eg mutual funds) at end of year2019-12-31$615,053
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2019-12-31$357,406
Interest on participant loans2019-12-31$241
Net investment gain/loss from pooled separate accounts2019-12-31$105,438
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-12-31No
Was there a failure to transmit to the plan any participant contributions2019-12-31No
Has the plan failed to provide any benefit when due under the plan2019-12-31No
Contributions received in cash from employer2019-12-31$63,665
Employer contributions (assets) at end of year2019-12-31$63,665
Employer contributions (assets) at beginning of year2019-12-31$60,505
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-12-31$11,309
Did the plan have assets held for investment2019-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-12-31No
2018 : MEDSTAR LABORATORY, INC. 401(K) PLAN 2018 401k financial data
Total income from all sources (including contributions)2018-12-31$133,802
Total of all expenses incurred2018-12-31$117,814
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2018-12-31$2,096
Value of total corrective distributions2018-12-31$109,154
Total contributions o plan (from employers,participants, others, non cash contrinutions)2018-12-31$156,180
Value of total assets at end of year2018-12-31$423,499
Value of total assets at beginning of year2018-12-31$407,511
Total of administrative expenses incurred including professional, contract, advisory and management fees2018-12-31$6,564
Total interest from all sources2018-12-31$180
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2018-12-31No
Was this plan covered by a fidelity bond2018-12-31No
If this is an individual account plan, was there a blackout period2018-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2018-12-31$0
Were there any nonexempt tranactions with any party-in-interest2018-12-31No
Contributions received from participants2018-12-31$95,832
Participant contributions at end of year2018-12-31$5,588
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2018-12-31No
Value of net income/loss2018-12-31$15,988
Value of net assets at end of year (total assets less liabilities)2018-12-31$423,499
Value of net assets at beginning of year (total assets less liabilities)2018-12-31$407,511
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2018-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2018-12-31No
Were any leases to which the plan was party in default or uncollectible2018-12-31No
Investment advisory and management fees2018-12-31$6,564
Value of interest in registered invesment companies (eg mutual funds) at end of year2018-12-31$357,406
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2018-12-31$348,831
Interest on participant loans2018-12-31$180
Net investment gain/loss from pooled separate accounts2018-12-31$-22,558
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2018-12-31No
Was there a failure to transmit to the plan any participant contributions2018-12-31No
Has the plan failed to provide any benefit when due under the plan2018-12-31No
Contributions received in cash from employer2018-12-31$60,348
Employer contributions (assets) at end of year2018-12-31$60,505
Employer contributions (assets) at beginning of year2018-12-31$58,680
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2018-12-31$2,096
Did the plan have assets held for investment2018-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2018-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2018-12-31No
Opinion of an independent qualified public accountant for this plan2018-12-31Disclaimer
Accountancy firm name2018-12-31OSTROW REISIN BERK & ABRAMS LTD.
Accountancy firm EIN2018-12-31362938874

Form 5500 Responses for MEDSTAR LABORATORY, INC. 401(K) PLAN

2020: MEDSTAR LABORATORY, INC. 401(K) PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingNo
2020-01-01This return/report is a short plan year return/report (less than 12 months)No
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – InsuranceYes
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement – InsuranceYes
2020-01-01Plan benefit arrangement - TrustYes
2019: MEDSTAR LABORATORY, INC. 401(K) PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – InsuranceYes
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement – InsuranceYes
2019-01-01Plan benefit arrangement - TrustYes
2018: MEDSTAR LABORATORY, INC. 401(K) PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedNo
2018-01-01This submission is the final filingNo
2018-01-01This return/report is a short plan year return/report (less than 12 months)No
2018-01-01Plan is a collectively bargained planNo
2018-01-01Plan funding arrangement – InsuranceYes
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement – InsuranceYes
2018-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number62652
Policy instance 1
Insurance contract or identification number62652
Number of Individuals Covered50
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $3,999
Total amount of fees paid to insurance companyUSD $578
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $3,999
Insurance broker organization code?3
Amount paid for insurance broker fees578
Additional information about fees paid to insurance brokerTPA FEES
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number62652
Policy instance 1
Insurance contract or identification number62652
Number of Individuals Covered48
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $3,524
Total amount of fees paid to insurance companyUSD $507
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $3,524
Insurance broker organization code?3
Amount paid for insurance broker fees507
Additional information about fees paid to insurance brokerTPA FEES
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number62652
Policy instance 1
Insurance contract or identification number62652
Number of Individuals Covered48
Insurance policy start date2020-01-01
Insurance policy end date2020-12-31
Total amount of commissions paid to insurance brokerUSD $2,361
Total amount of fees paid to insurance companyUSD $340
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number62652
Policy instance 1
Insurance contract or identification number62652
Number of Individuals Covered43
Insurance policy start date2019-01-01
Insurance policy end date2019-12-31
Total amount of commissions paid to insurance brokerUSD $1,825
Total amount of fees paid to insurance companyUSD $264
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $1,825
Insurance broker organization code?3
Amount paid for insurance broker fees264
Additional information about fees paid to insurance brokerTPA FEES
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number62652
Policy instance 1
Insurance contract or identification number62652
Number of Individuals Covered39
Insurance policy start date2018-01-01
Insurance policy end date2018-12-31
Total amount of commissions paid to insurance brokerUSD $1,098
Total amount of fees paid to insurance companyUSD $159
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $1,098
Insurance broker organization code?3
Amount paid for insurance broker fees159
Additional information about fees paid to insurance brokerTPA FEES

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