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RESOLUTION MEDICAL 401(K) PLAN 401k Plan overview

Plan NameRESOLUTION MEDICAL 401(K) PLAN
Plan identification number 002

RESOLUTION MEDICAL 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.
  • 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

RESOLUTION MEDICAL, LLC has sponsored the creation of one or more 401k plans.

Company Name:RESOLUTION MEDICAL, LLC
Employer identification number (EIN):455023684
NAIC Classification:339110

Form 5500 Filing Information

Submission information for form 5500 for 401k plan RESOLUTION MEDICAL 401(K) PLAN

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

Plan Statistics for RESOLUTION MEDICAL 401(K) PLAN

401k plan membership statisitcs for RESOLUTION MEDICAL 401(K) PLAN

Measure Date Value
2021: RESOLUTION MEDICAL 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year2021-03-01142
Total number of active participants reported on line 7a of the Form 55002021-03-01124
Number of retired or separated participants receiving benefits2021-03-010
Number of other retired or separated participants entitled to future benefits2021-03-0116
Total of all active and inactive participants2021-03-01140
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-03-010
Total participants2021-03-01140
Number of participants with account balances2021-03-01140
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-03-010

Financial Data on RESOLUTION MEDICAL 401(K) PLAN

Measure Date Value
2021 : RESOLUTION MEDICAL 401(K) PLAN 2021 401k financial data
Total transfer of assets to this plan2021-12-31$3,442,776
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$7,285
Total income from all sources (including contributions)2021-12-31$1,755,584
Total of all expenses incurred2021-12-31$389,817
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$371,817
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$1,406,221
Value of total assets at end of year2021-12-31$4,815,828
Value of total assets at beginning of year2021-12-31$0
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$18,000
Total interest from all sources2021-12-31$1,614
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$1,716
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2021-12-31$1,716
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$1,000,000
If this is an individual account plan, was there a blackout period2021-12-31No
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Contributions received from participants2021-12-31$632,273
Participant contributions at end of year2021-12-31$67,698
Participant contributions at end of year2021-12-31$29,609
Income. Received or receivable in cash from other sources (including rollovers)2021-12-31$475,802
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2021-12-31$216
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2021-12-31$7,285
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$1,365,767
Value of net assets at end of year (total assets less liabilities)2021-12-31$4,808,543
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$0
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
Value of interest in registered invesment companies (eg mutual funds) at end of year2021-12-31$254,689
Value of interest in pooled separate accounts at end of year2021-12-31$349,391
Interest on participant loans2021-12-31$1,598
Interest earned on other investments2021-12-31$16
Value of interest in common/collective trusts at end of year2021-12-31$4,087,921
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2021-12-31$1,622
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-12-31$7,834
Net investment gain/loss from pooled separate accounts2021-12-31$22,520
Net investment gain or loss from common/collective trusts2021-12-31$315,679
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 contributions2021-12-31No
Has the plan failed to provide any benefit when due under the plan2021-12-31No
Contributions received in cash from employer2021-12-31$298,146
Employer contributions (assets) at end of year2021-12-31$24,898
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$371,601
Contract administrator fees2021-12-31$18,000
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
Opinion of an independent qualified public accountant for this plan2021-12-31Unqualified
Accountancy firm name2021-12-31PENSION ASSURANCE, LLP
Accountancy firm EIN2021-12-31300840934

Form 5500 Responses for RESOLUTION MEDICAL 401(K) PLAN

2021: RESOLUTION MEDICAL 401(K) PLAN 2021 form 5500 responses
2021-03-01Type of plan entitySingle employer plan
2021-03-01First time form 5500 has been submittedYes
2021-03-01Submission has been amendedNo
2021-03-01This submission is the final filingNo
2021-03-01This return/report is a short plan year return/report (less than 12 months)Yes
2021-03-01Plan is a collectively bargained planNo
2021-03-01Plan funding arrangement – InsuranceYes
2021-03-01Plan funding arrangement – TrustYes
2021-03-01Plan benefit arrangement – InsuranceYes
2021-03-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number820731
Policy instance 1
Insurance contract or identification number820731
Number of Individuals Covered139
Insurance policy start date2021-03-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $8,663
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Commission paid to Insurance BrokerUSD $0
Amount paid for insurance broker fees8663
Additional information about fees paid to insurance brokerREFERRAL/SERVICE FEE
Insurance broker organization code?3

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