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MEDICINE-ON-TIME, LLC 401(K) PLAN 401k Plan overview

Plan NameMEDICINE-ON-TIME, LLC 401(K) PLAN
Plan identification number 001

MEDICINE-ON-TIME, LLC 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.
  • 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

MEDICINE-ON-TIME, LLC 401(K) PLAN has sponsored the creation of one or more 401k plans.

Company Name:MEDICINE-ON-TIME, LLC 401(K) PLAN
Employer identification number (EIN):474475268
NAIC Classification:326100

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MEDICINE-ON-TIME, LLC 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012022-01-01KATHY CHUDOW
0012021-01-01KATHY CHUDOW2022-05-11 KATHY CHUDOW2022-05-11
0012021-01-01KATHY CHUDOW2022-05-11 KATHY CHUDOW2022-05-11
0012021-01-01KATHY CHUDOW2022-05-11 KATHY CHUDOW2022-05-11
0012020-01-01KATHY CHUDOW2021-06-30 KATHY CHUDOW2021-06-30
0012019-01-01KATHY CHUDOW2020-06-12 KATHY CHUDOW2020-06-12
0012018-01-01KATHY CHUDOW2019-05-31 KATHY CHUDOW2019-05-31
0012017-01-01KATHY CHUDOW2018-06-28 KATHY CHUDOW2018-06-28
0012016-05-01KATHY CHUDOW2017-05-26 KATHY CHUDOW2017-05-26

Financial Data on MEDICINE-ON-TIME, LLC 401(K) PLAN

Measure Date Value
2022 : MEDICINE-ON-TIME, LLC 401(K) PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total income from all sources (including contributions)2022-12-31$313,886
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$234,011
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$223,627
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$920,031
Value of total assets at end of year2022-12-31$2,700,278
Value of total assets at beginning of year2022-12-31$2,620,403
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$10,384
Total interest from all sources2022-12-31$1,284
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$10,000
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$654,618
Participant contributions at end of year2022-12-31$16,443
Participant contributions at beginning of year2022-12-31$20,744
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$79,875
Value of net assets at end of year (total assets less liabilities)2022-12-31$2,700,278
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$2,620,403
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Value of interest in pooled separate accounts at end of year2022-12-31$2,597,291
Value of interest in pooled separate accounts at beginning of year2022-12-31$2,569,816
Interest on participant loans2022-12-31$776
Interest earned on other investments2022-12-31$508
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2022-12-31$86,544
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2022-12-31$29,843
Net investment gain/loss from pooled separate accounts2022-12-31$-607,429
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$265,413
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$223,627
Contract administrator fees2022-12-31$10,384
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31TEMPLETON & COMPANY, LLP
Accountancy firm EIN2022-12-31141918990
Total expenses incurred by plan in this plan year2022-05-11134596
Net assets as of the end of the plan year2022-05-112620403
Total assets as of the beginning of the plan year2022-05-111662364
Value of plan covered by a fidelity bond2022-05-1110000
Participant contributions to plan in this plan year2022-05-11590760
Value of participant loans at end of plan year2022-05-1120744
Other contributions to plan in this plan year2022-05-11103566
Other income to plan in this plan year2022-05-11170530
Plan net income in this plan year2022-05-11958039
Net assets as of the end of the plan year2022-05-112620403
Net assets as of the beginning of the plan year2022-05-111662364
Employer contributions to plan in this plan year2022-05-11227779
Fees paid to broker by Benefit Provider2022-05-1111154
Expensese paid to adminstrative service provicers from plan in this plan year2022-05-116754
Total unrealized appreciation/depreciation of assets2022-01-01$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-01-01$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-01-01$0
Total income from all sources (including contributions)2022-01-01$313,886
Total loss/gain on sale of assets2022-01-01$0
Total of all expenses incurred2022-01-01$234,011
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-01-01$223,627
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-01-01$920,031
Value of total assets at end of year2022-01-01$2,700,278
Value of total assets at beginning of year2022-01-01$2,620,403
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-01-01$10,384
Total interest from all sources2022-01-01$1,284
Total dividends received (eg from common stock, registered investment company shares)2022-01-01$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-01-01No
Was this plan covered by a fidelity bond2022-01-01Yes
Value of fidelity bond cover2022-01-01$10,000
If this is an individual account plan, was there a blackout period2022-01-01No
Were there any nonexempt tranactions with any party-in-interest2022-01-01No
Contributions received from participants2022-01-01$654,618
Participant contributions at end of year2022-01-01$16,443
Participant contributions at beginning of year2022-01-01$20,744
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-01-01No
Value of net income/loss2022-01-01$79,875
Value of net assets at end of year (total assets less liabilities)2022-01-01$2,700,278
Value of net assets at beginning of year (total assets less liabilities)2022-01-01$2,620,403
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-01-01No
Were any loans by the plan or fixed income obligations due to the plan in default2022-01-01No
Were any leases to which the plan was party in default or uncollectible2022-01-01No
Value of interest in pooled separate accounts at end of year2022-01-01$2,597,291
Value of interest in pooled separate accounts at beginning of year2022-01-01$2,569,816
Interest on participant loans2022-01-01$776
Interest earned on other investments2022-01-01$508
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2022-01-01$86,544
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2022-01-01$29,843
Net investment gain/loss from pooled separate accounts2022-01-01$-607,429
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-01-01No
Was there a failure to transmit to the plan any participant contributions2022-01-01No
Has the plan failed to provide any benefit when due under the plan2022-01-01No
Contributions received in cash from employer2022-01-01$265,413
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-01-01$223,627
Contract administrator fees2022-01-01$10,384
Did the plan have assets held for investment2022-01-01Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-01-01No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-01-01No
Opinion of an independent qualified public accountant for this plan2022-01-011
Accountancy firm name2022-01-01TEMPLETON & COMPANY, LLP
Accountancy firm EIN2022-01-01141918990

Form 5500 Responses for MEDICINE-ON-TIME, LLC 401(K) PLAN

2022: MEDICINE-ON-TIME, LLC 401(K) PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

MINNESOTA LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66168 )
Policy contract number068961
Policy instance 1

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