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SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN 401k Plan overview

Plan NameSILVERMAN FINANCIAL, INC. CASH BALANCE PLAN
Plan identification number 002

SILVERMAN FINANCIAL, 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).
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
  • 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

SILVERMAN FINANCIAL, INC. has sponsored the creation of one or more 401k plans.

Company Name:SILVERMAN FINANCIAL, INC.
Employer identification number (EIN):650092995
NAIC Classification:523900

Additional information about SILVERMAN FINANCIAL, INC.

Jurisdiction of Incorporation: Florida Department of State Division of Corporations
Incorporation Date: 1989-01-05
Company Identification Number: K55971
Legal Registered Office Address: 9100 S. DADELAND BLVD.

MIAMI

33156

More information about SILVERMAN FINANCIAL, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022021-01-01MARC SILVERMAN2022-02-03
0022020-01-01
0022019-01-01
0022018-01-01MARC SILVERMAN
0022017-01-01MARC SILVERMAN
0022016-01-01MARC SILVERMAN
0022015-01-01MARC SILVERMAN
0022014-01-01MARC SILVERMAN
0022013-01-01MARC SILVERMAN
0022012-01-01MARC SILVERMAN
0022011-01-01MARC SILVERMAN

Financial Data on SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN

Measure Date Value
2020 : SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN 2020 401k financial data
Transfers to/from the plan2020-12-31$0
Total plan liabilities at end of year2020-12-31$0
Total plan liabilities at beginning of year2020-12-31$0
Total income from all sources2020-12-31$445,287
Expenses. Total of all expenses incurred2020-12-31$22,801
Benefits paid (including direct rollovers)2020-12-31$2,598
Total plan assets at end of year2020-12-31$3,185,834
Total plan assets at beginning of year2020-12-31$2,763,348
Value of fidelity bond covering the plan2020-12-31$265,000
Total contributions received or receivable from participants2020-12-31$0
Expenses. Other expenses not covered elsewhere2020-12-31$0
Contributions received from other sources (not participants or employers)2020-12-31$0
Other income received2020-12-31$143,213
Noncash contributions received2020-12-31$0
Net income (gross income less expenses)2020-12-31$422,486
Net plan assets at end of year (total assets less liabilities)2020-12-31$3,185,834
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$2,763,348
Total contributions received or receivable from employer(s)2020-12-31$302,074
Value of certain deemed distributions of participant loans2020-12-31$0
Value of corrective distributions2020-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$20,203
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
2019 : SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN 2019 401k financial data
Transfers to/from the plan2019-12-31$0
Total plan liabilities at end of year2019-12-31$0
Total plan liabilities at beginning of year2019-12-31$0
Total income from all sources2019-12-31$676,914
Expenses. Total of all expenses incurred2019-12-31$18,461
Benefits paid (including direct rollovers)2019-12-31$0
Total plan assets at end of year2019-12-31$2,763,348
Total plan assets at beginning of year2019-12-31$2,104,895
Value of fidelity bond covering the plan2019-12-31$265,000
Total contributions received or receivable from participants2019-12-31$0
Expenses. Other expenses not covered elsewhere2019-12-31$0
Contributions received from other sources (not participants or employers)2019-12-31$0
Other income received2019-12-31$426,914
Noncash contributions received2019-12-31$0
Net income (gross income less expenses)2019-12-31$658,453
Net plan assets at end of year (total assets less liabilities)2019-12-31$2,763,348
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$2,104,895
Total contributions received or receivable from employer(s)2019-12-31$250,000
Value of certain deemed distributions of participant loans2019-12-31$0
Value of corrective distributions2019-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$18,461
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
2018 : SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN 2018 401k financial data
Transfers to/from the plan2018-12-31$0
Total plan liabilities at end of year2018-12-31$0
Total plan liabilities at beginning of year2018-12-31$0
Total income from all sources2018-12-31$277,823
Expenses. Total of all expenses incurred2018-12-31$27,660
Benefits paid (including direct rollovers)2018-12-31$12,916
Total plan assets at end of year2018-12-31$2,104,895
Total plan assets at beginning of year2018-12-31$1,854,732
Value of fidelity bond covering the plan2018-12-31$265,000
Total contributions received or receivable from participants2018-12-31$0
Expenses. Other expenses not covered elsewhere2018-12-31$0
Contributions received from other sources (not participants or employers)2018-12-31$0
Other income received2018-12-31$-82,177
Noncash contributions received2018-12-31$0
Net income (gross income less expenses)2018-12-31$250,163
Net plan assets at end of year (total assets less liabilities)2018-12-31$2,104,895
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$1,854,732
Total contributions received or receivable from employer(s)2018-12-31$360,000
Value of certain deemed distributions of participant loans2018-12-31$0
Value of corrective distributions2018-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$14,744
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2018-12-31$0
2017 : SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN 2017 401k financial data
Transfers to/from the plan2017-12-31$0
Total plan liabilities at end of year2017-12-31$0
Total plan liabilities at beginning of year2017-12-31$0
Total income from all sources2017-12-31$537,432
Expenses. Total of all expenses incurred2017-12-31$28,443
Benefits paid (including direct rollovers)2017-12-31$16,892
Total plan assets at end of year2017-12-31$1,854,732
Total plan assets at beginning of year2017-12-31$1,345,743
Value of fidelity bond covering the plan2017-12-31$265,000
Total contributions received or receivable from participants2017-12-31$0
Expenses. Other expenses not covered elsewhere2017-12-31$0
Contributions received from other sources (not participants or employers)2017-12-31$0
Other income received2017-12-31$187,432
Noncash contributions received2017-12-31$0
Net income (gross income less expenses)2017-12-31$508,989
Net plan assets at end of year (total assets less liabilities)2017-12-31$1,854,732
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$1,345,743
Total contributions received or receivable from employer(s)2017-12-31$350,000
Value of certain deemed distributions of participant loans2017-12-31$0
Value of corrective distributions2017-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$11,551
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2017-12-31$0
2016 : SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN 2016 401k financial data
Transfers to/from the plan2016-12-31$0
Total plan liabilities at end of year2016-12-31$0
Total plan liabilities at beginning of year2016-12-31$0
Total income from all sources2016-12-31$332,507
Expenses. Total of all expenses incurred2016-12-31$9,847
Benefits paid (including direct rollovers)2016-12-31$0
Total plan assets at end of year2016-12-31$1,345,743
Total plan assets at beginning of year2016-12-31$1,023,083
Value of fidelity bond covering the plan2016-12-31$265,000
Total contributions received or receivable from participants2016-12-31$0
Expenses. Other expenses not covered elsewhere2016-12-31$0
Contributions received from other sources (not participants or employers)2016-12-31$0
Other income received2016-12-31$101,507
Noncash contributions received2016-12-31$0
Net income (gross income less expenses)2016-12-31$322,660
Net plan assets at end of year (total assets less liabilities)2016-12-31$1,345,743
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$1,023,083
Total contributions received or receivable from employer(s)2016-12-31$231,000
Value of certain deemed distributions of participant loans2016-12-31$0
Value of corrective distributions2016-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2016-12-31$9,847
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2016-12-31$0
2015 : SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN 2015 401k financial data
Total plan liabilities at end of year2015-12-31$0
Total plan liabilities at beginning of year2015-12-31$0
Total income from all sources2015-12-31$363,807
Expenses. Total of all expenses incurred2015-12-31$5,888
Benefits paid (including direct rollovers)2015-12-31$0
Total plan assets at end of year2015-12-31$1,023,083
Total plan assets at beginning of year2015-12-31$665,164
Value of fidelity bond covering the plan2015-12-31$265,000
Total contributions received or receivable from participants2015-12-31$0
Expenses. Other expenses not covered elsewhere2015-12-31$0
Contributions received from other sources (not participants or employers)2015-12-31$0
Other income received2015-12-31$-6,434
Noncash contributions received2015-12-31$0
Net income (gross income less expenses)2015-12-31$357,919
Net plan assets at end of year (total assets less liabilities)2015-12-31$1,023,083
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$665,164
Total contributions received or receivable from employer(s)2015-12-31$370,241
Value of certain deemed distributions of participant loans2015-12-31$0
Value of corrective distributions2015-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2015-12-31$5,888
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2015-12-31$0
2014 : SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN 2014 401k financial data
Transfers to/from the plan2014-12-31$0
Total plan liabilities at end of year2014-12-31$0
Total plan liabilities at beginning of year2014-12-31$0
Total income from all sources2014-12-31$163,602
Expenses. Total of all expenses incurred2014-12-31$2,908
Benefits paid (including direct rollovers)2014-12-31$0
Total plan assets at end of year2014-12-31$665,164
Total plan assets at beginning of year2014-12-31$504,470
Value of fidelity bond covering the plan2014-12-31$265,000
Total contributions received or receivable from participants2014-12-31$0
Expenses. Other expenses not covered elsewhere2014-12-31$0
Contributions received from other sources (not participants or employers)2014-12-31$0
Other income received2014-12-31$53
Noncash contributions received2014-12-31$0
Net income (gross income less expenses)2014-12-31$160,694
Net plan assets at end of year (total assets less liabilities)2014-12-31$665,164
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$504,470
Total contributions received or receivable from employer(s)2014-12-31$163,549
Value of certain deemed distributions of participant loans2014-12-31$0
Value of corrective distributions2014-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2014-12-31$2,908
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2014-12-31$0
2013 : SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN 2013 401k financial data
Transfers to/from the plan2013-12-31$0
Total plan liabilities at end of year2013-12-31$0
Total plan liabilities at beginning of year2013-12-31$0
Total income from all sources2013-12-31$189,820
Expenses. Total of all expenses incurred2013-12-31$0
Benefits paid (including direct rollovers)2013-12-31$0
Total plan assets at end of year2013-12-31$504,470
Total plan assets at beginning of year2013-12-31$314,650
Value of fidelity bond covering the plan2013-12-31$265,000
Total contributions received or receivable from participants2013-12-31$0
Expenses. Other expenses not covered elsewhere2013-12-31$0
Contributions received from other sources (not participants or employers)2013-12-31$0
Other income received2013-12-31$28,820
Noncash contributions received2013-12-31$0
Net income (gross income less expenses)2013-12-31$189,820
Net plan assets at end of year (total assets less liabilities)2013-12-31$504,470
Net plan assets at beginning of year (total assets less liabilities)2013-12-31$314,650
Total contributions received or receivable from employer(s)2013-12-31$161,000
Value of certain deemed distributions of participant loans2013-12-31$0
Value of corrective distributions2013-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2013-12-31$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2013-12-31$0
2012 : SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN 2012 401k financial data
Transfers to/from the plan2012-12-31$0
Total plan liabilities at end of year2012-12-31$0
Total plan liabilities at beginning of year2012-12-31$0
Total income from all sources2012-12-31$199,693
Expenses. Total of all expenses incurred2012-12-31$0
Benefits paid (including direct rollovers)2012-12-31$0
Total plan assets at end of year2012-12-31$314,650
Total plan assets at beginning of year2012-12-31$114,957
Value of fidelity bond covering the plan2012-12-31$265,000
Total contributions received or receivable from participants2012-12-31$0
Expenses. Other expenses not covered elsewhere2012-12-31$0
Contributions received from other sources (not participants or employers)2012-12-31$0
Other income received2012-12-31$10,693
Noncash contributions received2012-12-31$0
Net income (gross income less expenses)2012-12-31$199,693
Net plan assets at end of year (total assets less liabilities)2012-12-31$314,650
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$114,957
Total contributions received or receivable from employer(s)2012-12-31$189,000
Value of certain deemed distributions of participant loans2012-12-31$0
Value of corrective distributions2012-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2012-12-31$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-31$0
2011 : SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN 2011 401k financial data
Transfers to/from the plan2011-12-31$0
Total plan liabilities at end of year2011-12-31$0
Total plan liabilities at beginning of year2011-12-31$0
Total income from all sources2011-12-31$114,957
Expenses. Total of all expenses incurred2011-12-31$0
Benefits paid (including direct rollovers)2011-12-31$0
Total plan assets at end of year2011-12-31$114,957
Total plan assets at beginning of year2011-12-31$0
Value of fidelity bond covering the plan2011-12-31$265,000
Total contributions received or receivable from participants2011-12-31$0
Expenses. Other expenses not covered elsewhere2011-12-31$0
Contributions received from other sources (not participants or employers)2011-12-31$0
Other income received2011-12-31$-17,756
Noncash contributions received2011-12-31$0
Net income (gross income less expenses)2011-12-31$114,957
Net plan assets at end of year (total assets less liabilities)2011-12-31$114,957
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$0
Total contributions received or receivable from employer(s)2011-12-31$132,713
Value of certain deemed distributions of participant loans2011-12-31$0
Value of corrective distributions2011-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2011-12-31$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0

Form 5500 Responses for SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN

2020: SILVERMAN FINANCIAL, INC. CASH BALANCE 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 – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: SILVERMAN FINANCIAL, INC. CASH BALANCE 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 – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: SILVERMAN FINANCIAL, INC. CASH BALANCE 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 – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedNo
2017-01-01This submission is the final filingNo
2017-01-01This return/report is a short plan year return/report (less than 12 months)No
2017-01-01Plan is a collectively bargained planNo
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Submission has been amendedNo
2016-01-01This submission is the final filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes
2015: SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingNo
2015-01-01This return/report is a short plan year return/report (less than 12 months)No
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes
2014: SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Submission has been amendedNo
2014-01-01This submission is the final filingNo
2014-01-01This return/report is a short plan year return/report (less than 12 months)No
2014-01-01Plan is a collectively bargained planNo
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement - TrustYes
2013: SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Submission has been amendedNo
2013-01-01This submission is the final filingNo
2013-01-01This return/report is a short plan year return/report (less than 12 months)No
2013-01-01Plan is a collectively bargained planNo
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement - TrustYes
2012: SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Submission has been amendedNo
2012-01-01This submission is the final filingNo
2012-01-01This return/report is a short plan year return/report (less than 12 months)No
2012-01-01Plan is a collectively bargained planNo
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement - TrustYes
2011: SILVERMAN FINANCIAL, INC. CASH BALANCE PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01First time form 5500 has been submittedYes
2011-01-01Submission has been amendedYes
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes

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