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THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO PHARMACEUTICAL ASSOCIATES, INC. 401k Plan overview

Plan NameTHE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO PHARMACEUTICAL ASSOCIATES, INC.
Plan identification number 004

THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO PHARMACEUTICAL ASSOCIATES, INC. 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.
  • 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

PHARMACEUTICAL ASSOCIATES, INC. has sponsored the creation of one or more 401k plans.

Company Name:PHARMACEUTICAL ASSOCIATES, INC.
Employer identification number (EIN):570511073
NAIC Classification:325410

Additional information about PHARMACEUTICAL ASSOCIATES, INC.

Jurisdiction of Incorporation: Nevada Department of State
Incorporation Date: 1984-04-26
Company Identification Number: 19841005603
Legal Registered Office Address: 4880 EAST BONANZA STE 3

LAS VEGAS
United States of America (USA)
89110

More information about PHARMACEUTICAL ASSOCIATES, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO PHARMACEUTICAL ASSOCIATES, INC.

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0042020-01-01
0042019-10-01LEE VOGT2020-10-14

Plan Statistics for THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO PHARMACEUTICAL ASSOCIATES, INC.

401k plan membership statisitcs for THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO PHARMACEUTICAL ASSOCIATES, INC.

Measure Date Value
2020: THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO PHARMACEUTICAL ASSOCIATES, INC. 2020 401k membership
Total participants, beginning-of-year2020-01-01330
Total number of active participants reported on line 7a of the Form 55002020-01-010
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-010
Total of all active and inactive participants2020-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-010
Number of participants with account balances2020-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO PHARMACEUTICAL ASSOCIATES, INC. 2019 401k membership
Total participants, beginning-of-year2019-10-010
Total number of active participants reported on line 7a of the Form 55002019-10-01330
Number of retired or separated participants receiving benefits2019-10-010
Number of other retired or separated participants entitled to future benefits2019-10-014
Total of all active and inactive participants2019-10-01334
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-10-010
Total participants2019-10-01334
Number of participants with account balances2019-10-01284
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-10-010

Financial Data on THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO PHARMACEUTICAL ASSOCIATES, INC.

Measure Date Value
2020 : THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO PHARMACEUTICAL ASSOCIATES, INC. 2020 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2020-11-30$1,397,930
Total unrealized appreciation/depreciation of assets2020-11-30$1,397,930
Total transfer of assets from this plan2020-11-30$12,712,082
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-11-30$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-11-30$1,638
Total income from all sources (including contributions)2020-11-30$4,277,684
Total of all expenses incurred2020-11-30$1,074,053
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-11-30$935,639
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-11-30$2,865,889
Value of total assets at end of year2020-11-30$0
Value of total assets at beginning of year2020-11-30$9,510,089
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-11-30$138,414
Total interest from all sources2020-11-30$13,865
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-11-30Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2020-11-30$0
Was this plan covered by a fidelity bond2020-11-30Yes
Value of fidelity bond cover2020-11-30$1,000,000
If this is an individual account plan, was there a blackout period2020-11-30No
Aggregate amount of withdrawal liability assessed or estimated to be assessed against such withdrawn employers2020-11-300
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-11-30$0
Minimum employer required contribution for this plan year2020-11-30$0
Amount contributed by the employer to the plan for this plan year2020-11-30$0
Were there any nonexempt tranactions with any party-in-interest2020-11-30No
Contributions received from participants2020-11-30$1,139,449
Participant contributions at end of year2020-11-30$0
Participant contributions at beginning of year2020-11-30$246,366
Income. Received or receivable in cash from other sources (including rollovers)2020-11-30$1,078,084
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2020-11-30$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2020-11-30$1,638
Administrative expenses (other) incurred2020-11-30$138,414
Total non interest bearing cash at end of year2020-11-30$0
Total non interest bearing cash at beginning of year2020-11-30$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-11-30No
Value of net income/loss2020-11-30$3,203,631
Value of net assets at end of year (total assets less liabilities)2020-11-30$0
Value of net assets at beginning of year (total assets less liabilities)2020-11-30$9,508,451
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-11-30No
Were any loans by the plan or fixed income obligations due to the plan in default2020-11-30No
Were any leases to which the plan was party in default or uncollectible2020-11-30No
Value of interest in pooled separate accounts at end of year2020-11-30$0
Value of interest in pooled separate accounts at beginning of year2020-11-30$9,263,723
Income. Interest from loans (other than to participants)2020-11-30$13,865
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-11-30Yes
Was there a failure to transmit to the plan any participant contributions2020-11-30No
Has the plan failed to provide any benefit when due under the plan2020-11-30No
Contributions received in cash from employer2020-11-30$648,356
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-11-30$935,639
Did the plan have assets held for investment2020-11-30No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-11-30No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-11-30Yes
Opinion of an independent qualified public accountant for this plan2020-11-30Disclaimer
Accountancy firm name2020-11-30WITHUM SMITH & BROWN
Accountancy firm EIN2020-11-30222027092
2019 : THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO PHARMACEUTICAL ASSOCIATES, INC. 2019 401k financial data
Total income from all sources2019-12-31$9,773,948
Expenses. Total of all expenses incurred2019-12-31$265,497
Benefits paid (including direct rollovers)2019-12-31$253,228
Total plan assets at end of year2019-12-31$9,508,451
Total plan assets at beginning of year2019-12-31$0
Total contributions received or receivable from participants2019-12-31$135,201
Contributions received from other sources (not participants or employers)2019-12-31$9,124,404
Other income received2019-12-31$435,026
Net income (gross income less expenses)2019-12-31$9,508,451
Net plan assets at end of year (total assets less liabilities)2019-12-31$9,508,451
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$0
Assets. Value of participant loans2019-12-31$246,366
Total contributions received or receivable from employer(s)2019-12-31$79,317
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$12,269
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0

Form 5500 Responses for THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO PHARMACEUTICAL ASSOCIATES, INC.

2020: THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO PHARMACEUTICAL ASSOCIATES, INC. 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01This submission is the final filingYes
2020-01-01This return/report is a short plan year return/report (less than 12 months)Yes
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: THE PLATINUM 401(K) RETIREMENT SAVINGS PLAN FBO PHARMACEUTICAL ASSOCIATES, INC. 2019 form 5500 responses
2019-10-01Type of plan entityMulitple employer plan
2019-10-01First time form 5500 has been submittedYes
2019-10-01Submission has been amendedNo
2019-10-01This submission is the final filingNo
2019-10-01This return/report is a short plan year return/report (less than 12 months)Yes
2019-10-01Plan is a collectively bargained planNo
2019-10-01Plan funding arrangement – InsuranceYes
2019-10-01Plan funding arrangement – TrustYes
2019-10-01Plan benefit arrangement – InsuranceYes
2019-10-01Plan 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 number142566
Policy instance 1
Insurance contract or identification number142566
Number of Individuals Covered0
Insurance policy start date2020-01-01
Insurance policy end date2020-12-14
Total amount of commissions paid to insurance brokerUSD $6,764
Total amount of fees paid to insurance companyUSD $65,301
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $2,062
Insurance broker organization code?4
Amount paid for insurance broker fees65301
Additional information about fees paid to insurance brokerTPA FEES/COMPENSATION
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number142566
Policy instance 1
Insurance contract or identification number142566
Number of Individuals Covered284
Insurance policy start date2019-10-01
Insurance policy end date2019-12-31
Total amount of commissions paid to insurance brokerUSD $383
Total amount of fees paid to insurance companyUSD $4,409
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?No
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 $383
Amount paid for insurance broker fees4409
Additional information about fees paid to insurance brokerTPA FEES/COMPENSATION
Insurance broker organization code?5

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