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NANTICOKE MEMORIAL HOSPITAL, INC. CASH BALANCE PLAN 401k Plan overview

Plan NameNANTICOKE MEMORIAL HOSPITAL, INC. CASH BALANCE PLAN
Plan identification number 001

NANTICOKE MEMORIAL HOSPITAL, INC. CASH BALANCE PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • 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).
  • Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).
  • 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

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

Company Name:NMH
Employer identification number (EIN):510069243
NAIC Classification:622000
NAIC Description: Hospitals

Additional information about NMH

Jurisdiction of Incorporation: State of Delaware Division of Corporations
Incorporation Date:
Company Identification Number: 398126

More information about NMH

Form 5500 Filing Information

Submission information for form 5500 for 401k plan NANTICOKE MEMORIAL HOSPITAL, INC. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012021-07-01DEAN A. SWINGLE2023-02-09 DEAN A. SWINGLE2023-02-09
0012020-07-01

Plan Statistics for NANTICOKE MEMORIAL HOSPITAL, INC. CASH BALANCE PLAN

401k plan membership statisitcs for NANTICOKE MEMORIAL HOSPITAL, INC. CASH BALANCE PLAN

Measure Date Value
2022: NANTICOKE MEMORIAL HOSPITAL, INC. CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-06-3020,590,689
Acturial value of plan assets2022-06-3020,590,689
Funding target for retired participants and beneficiaries receiving payment2022-06-308,392,538
Number of terminated vested participants2022-06-30165
Fundng target for terminated vested participants2022-06-303,755,220
Active participant vested funding target2022-06-304,823,836
Number of active participants2022-06-30214
Total funding liabilities for active participants2022-06-304,823,836
Total participant count2022-06-30625
Total funding target for all participants2022-06-3016,971,594
Balance at beginning of prior year after applicable adjustments2022-06-300
Prefunding balance at beginning of prior year after applicable adjustments2022-06-30654,842
Carryover balanced portion elected for use to offset prior years funding requirement2022-06-300
Prefunding balanced used to offset prior years funding requirement2022-06-300
Amount remaining of carryover balance2022-06-300
Amount remaining of prefunding balance2022-06-30654,842
Present value of excess contributions2022-06-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-06-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-06-300
Reductions in caryover balances due to elections or deemed elections2022-06-300
Reductions in prefunding balances due to elections or deemed elections2022-06-300
Balance of carryovers at beginning of current year2022-06-300
Balance of prefunding at beginning of current year2022-06-30792,817
Total employer contributions2022-06-300
Total employee contributions2022-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2022-06-300
Contributions made to avoid restrictions adjusted to valuation date2022-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-06-300
Unpaid minimum required contributions for all prior years2022-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-06-300
Remaining amount of unpaid minimum required contributions2022-06-300
Minimum required contributions for current year target normal cost2022-06-3053,000
Net shortfall amortization installment of oustanding balance2022-06-300
Waiver amortization installment2022-06-300
Total funding amount beforereflecting carryover/prefunding balances2022-06-300
Carryover balance elected to use to offset funding requirement2022-06-300
Prefunding balance elected to use to offset funding requirement2022-06-300
Additional cash requirement2022-06-300
Contributions allocatedtoward minimum required contributions for current year2022-06-300
Unpaid minimum required contributions for current year2022-06-300
Unpaid minimum required contributions for all years2022-06-300
2021: NANTICOKE MEMORIAL HOSPITAL, INC. CASH BALANCE PLAN 2021 401k membership
Total participants, beginning-of-year2021-07-01625
Total number of active participants reported on line 7a of the Form 55002021-07-01193
Number of retired or separated participants receiving benefits2021-07-01214
Number of other retired or separated participants entitled to future benefits2021-07-01163
Total of all active and inactive participants2021-07-01570
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-07-0120
Total participants2021-07-01590
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-07-010
Market value of plan assets2021-06-3018,511,735
Acturial value of plan assets2021-06-3018,511,735
Funding target for retired participants and beneficiaries receiving payment2021-06-308,404,949
Number of terminated vested participants2021-06-30170
Fundng target for terminated vested participants2021-06-303,835,641
Active participant vested funding target2021-06-305,377,394
Number of active participants2021-06-30236
Total funding liabilities for active participants2021-06-305,377,394
Total participant count2021-06-30655
Total funding target for all participants2021-06-3017,617,984
Balance at beginning of prior year after applicable adjustments2021-06-300
Prefunding balance at beginning of prior year after applicable adjustments2021-06-30645,546
Carryover balanced portion elected for use to offset prior years funding requirement2021-06-300
Prefunding balanced used to offset prior years funding requirement2021-06-300
Amount remaining of carryover balance2021-06-300
Amount remaining of prefunding balance2021-06-30645,546
Present value of excess contributions2021-06-300
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-06-300
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-06-300
Reductions in caryover balances due to elections or deemed elections2021-06-300
Reductions in prefunding balances due to elections or deemed elections2021-06-300
Balance of carryovers at beginning of current year2021-06-300
Balance of prefunding at beginning of current year2021-06-30654,842
Total employer contributions2021-06-300
Total employee contributions2021-06-300
Contributions allocated toward unpaid minimum require contributions from prior years2021-06-300
Contributions made to avoid restrictions adjusted to valuation date2021-06-300
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-06-300
Unpaid minimum required contributions for all prior years2021-06-300
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-06-300
Remaining amount of unpaid minimum required contributions2021-06-300
Minimum required contributions for current year target normal cost2021-06-3041,000
Net shortfall amortization installment of oustanding balance2021-06-300
Waiver amortization installment2021-06-300
Total funding amount beforereflecting carryover/prefunding balances2021-06-300
Carryover balance elected to use to offset funding requirement2021-06-300
Prefunding balance elected to use to offset funding requirement2021-06-300
Additional cash requirement2021-06-300
Contributions allocatedtoward minimum required contributions for current year2021-06-300
Unpaid minimum required contributions for current year2021-06-300
Unpaid minimum required contributions for all years2021-06-300
2020: NANTICOKE MEMORIAL HOSPITAL, INC. CASH BALANCE PLAN 2020 401k membership
Total participants, beginning-of-year2020-07-01655
Total number of active participants reported on line 7a of the Form 55002020-07-01215
Number of retired or separated participants receiving benefits2020-07-01227
Number of other retired or separated participants entitled to future benefits2020-07-01163
Total of all active and inactive participants2020-07-01605
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-07-0120
Total participants2020-07-01625
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-07-010

Financial Data on NANTICOKE MEMORIAL HOSPITAL, INC. CASH BALANCE PLAN

Measure Date Value
2022 : NANTICOKE MEMORIAL HOSPITAL, INC. CASH BALANCE PLAN 2022 401k financial data
Total income from all sources (including contributions)2022-06-30$-1,784,954
Total of all expenses incurred2022-06-30$1,709,383
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-06-30$1,651,628
Value of total assets at end of year2022-06-30$17,116,519
Value of total assets at beginning of year2022-06-30$20,610,856
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-06-30$57,755
Total dividends received (eg from common stock, registered investment company shares)2022-06-30$1,081,305
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-06-30Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2022-06-30$0
Total dividends received from registered investment company shares (eg mutual funds)2022-06-30$1,081,305
Administrative expenses professional fees incurred2022-06-30$57,755
Was this plan covered by a fidelity bond2022-06-30Yes
Value of fidelity bond cover2022-06-30$1,000,000
Were there any nonexempt tranactions with any party-in-interest2022-06-30No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-06-30No
Value of net income/loss2022-06-30$-3,494,337
Value of net assets at end of year (total assets less liabilities)2022-06-30$17,116,519
Value of net assets at beginning of year (total assets less liabilities)2022-06-30$20,610,856
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-06-30No
Were any loans by the plan or fixed income obligations due to the plan in default2022-06-30No
Were any leases to which the plan was party in default or uncollectible2022-06-30No
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-06-30$16,995,253
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-06-30$20,544,846
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2022-06-30$121,266
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2022-06-30$66,010
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2022-06-30$66,010
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-06-30$-2,866,259
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-06-30Yes
Was there a failure to transmit to the plan any participant contributions2022-06-30No
Has the plan failed to provide any benefit when due under the plan2022-06-30No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-06-30$1,651,628
Did the plan have assets held for investment2022-06-30Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-06-30No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-06-30No
Opinion of an independent qualified public accountant for this plan2022-06-30Unqualified
Accountancy firm name2022-06-30CLIFTONLARSONALLEN, LLP
Accountancy firm EIN2022-06-30410746749
2021 : NANTICOKE MEMORIAL HOSPITAL, INC. CASH BALANCE PLAN 2021 401k financial data
Total income from all sources (including contributions)2021-06-30$3,787,960
Total of all expenses incurred2021-06-30$1,688,839
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-06-30$1,632,936
Value of total assets at end of year2021-06-30$20,610,856
Value of total assets at beginning of year2021-06-30$18,511,735
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-06-30$55,903
Total dividends received (eg from common stock, registered investment company shares)2021-06-30$502,091
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-06-30No
Total dividends received from registered investment company shares (eg mutual funds)2021-06-30$502,091
Administrative expenses professional fees incurred2021-06-30$55,903
Was this plan covered by a fidelity bond2021-06-30Yes
Value of fidelity bond cover2021-06-30$1,000,000
Were there any nonexempt tranactions with any party-in-interest2021-06-30No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-06-30No
Value of net income/loss2021-06-30$2,099,121
Value of net assets at end of year (total assets less liabilities)2021-06-30$20,610,856
Value of net assets at beginning of year (total assets less liabilities)2021-06-30$18,511,735
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2021-06-30No
Were any loans by the plan or fixed income obligations due to the plan in default2021-06-30No
Were any leases to which the plan was party in default or uncollectible2021-06-30No
Value of interest in registered invesment companies (eg mutual funds) at end of year2021-06-30$20,544,846
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-06-30$18,469,727
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2021-06-30$66,010
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2021-06-30$42,008
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2021-06-30$42,008
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-06-30$3,285,869
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-06-30Yes
Was there a failure to transmit to the plan any participant contributions2021-06-30No
Has the plan failed to provide any benefit when due under the plan2021-06-30No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-06-30$1,632,936
Did the plan have assets held for investment2021-06-30Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2021-06-30No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2021-06-30No
Opinion of an independent qualified public accountant for this plan2021-06-30Disclaimer
Accountancy firm name2021-06-30CLIFTONLARSONALLEN, LLP
Accountancy firm EIN2021-06-30410746749

Form 5500 Responses for NANTICOKE MEMORIAL HOSPITAL, INC. CASH BALANCE PLAN

2021: NANTICOKE MEMORIAL HOSPITAL, INC. CASH BALANCE PLAN 2021 form 5500 responses
2021-07-01Type of plan entitySingle employer plan
2021-07-01Submission has been amendedNo
2021-07-01This submission is the final filingNo
2021-07-01This return/report is a short plan year return/report (less than 12 months)No
2021-07-01Plan is a collectively bargained planNo
2021-07-01Plan funding arrangement – TrustYes
2021-07-01Plan benefit arrangement - TrustYes
2020: NANTICOKE MEMORIAL HOSPITAL, INC. CASH BALANCE PLAN 2020 form 5500 responses
2020-07-01Type of plan entitySingle employer plan
2020-07-01Submission has been amendedNo
2020-07-01This submission is the final filingNo
2020-07-01This return/report is a short plan year return/report (less than 12 months)No
2020-07-01Plan is a collectively bargained planNo
2020-07-01Plan funding arrangement – TrustYes
2020-07-01Plan benefit arrangement - TrustYes

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