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OMNICARE MEDICAL GROUP CASH BALANCE PLAN 401k Plan overview

Plan NameOMNICARE MEDICAL GROUP CASH BALANCE PLAN
Plan identification number 002

OMNICARE MEDICAL GROUP CASH BALANCE PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily flat dollar (includes dollars per year of service)
  • 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).
  • 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

OMNICARE MEDICAL GROUP INC has sponsored the creation of one or more 401k plans.

Company Name:OMNICARE MEDICAL GROUP INC
Employer identification number (EIN):811747001
NAIC Classification:621111
NAIC Description:Offices of Physicians (except Mental Health Specialists)

Form 5500 Filing Information

Submission information for form 5500 for 401k plan OMNICARE MEDICAL GROUP CASH BALANCE PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01AMIT SETH2023-09-14
0022021-01-01AMIT SETH2022-09-16
0022020-01-01AMIT SETH2021-09-20
0022020-01-01AMIT SETH2021-09-01
0022019-01-01AMIT SETH2020-09-09
0022018-01-01AMIT SETH2019-09-05
0022017-01-01AMIT SETH2018-09-27

Plan Statistics for OMNICARE MEDICAL GROUP CASH BALANCE PLAN

401k plan membership statisitcs for OMNICARE MEDICAL GROUP CASH BALANCE PLAN

Measure Date Value
2022: OMNICARE MEDICAL GROUP CASH BALANCE PLAN 2022 401k membership
Market value of plan assets2022-12-31782,779
Acturial value of plan assets2022-12-31782,779
Funding target for retired participants and beneficiaries receiving payment2022-12-310
Number of terminated vested participants2022-12-312
Fundng target for terminated vested participants2022-12-316,587
Active participant vested funding target2022-12-31697,344
Number of active participants2022-12-3114
Total funding liabilities for active participants2022-12-31700,278
Total participant count2022-12-3116
Total funding target for all participants2022-12-31706,865
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-31101,015
Carryover balanced portion elected for use to offset prior years funding requirement2022-12-310
Prefunding balanced used to offset prior years funding requirement2022-12-310
Amount remaining of carryover balance2022-12-310
Amount remaining of prefunding balance2022-12-31101,015
Present value of excess contributions2022-12-312,685
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-312,837
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-312,837
Reductions in caryover balances due to elections or deemed elections2022-12-310
Reductions in prefunding balances due to elections or deemed elections2022-12-310
Balance of carryovers at beginning of current year2022-12-310
Balance of prefunding at beginning of current year2022-12-31108,408
Total employer contributions2022-12-31138,766
Total employee contributions2022-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2022-12-310
Contributions made to avoid restrictions adjusted to valuation date2022-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-12-31122,614
Unpaid minimum required contributions for all prior years2022-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-12-310
Remaining amount of unpaid minimum required contributions2022-12-310
Minimum required contributions for current year target normal cost2022-12-31121,786
Net shortfall amortization installment of oustanding balance2022-12-3132,494
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-31124,789
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-312,175
Additional cash requirement2022-12-31122,614
Contributions allocatedtoward minimum required contributions for current year2022-12-31122,614
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
2021: OMNICARE MEDICAL GROUP CASH BALANCE PLAN 2021 401k membership
Market value of plan assets2021-12-31617,908
Acturial value of plan assets2021-12-31617,908
Funding target for retired participants and beneficiaries receiving payment2021-12-310
Number of terminated vested participants2021-12-310
Fundng target for terminated vested participants2021-12-310
Active participant vested funding target2021-12-31528,768
Number of active participants2021-12-3119
Total funding liabilities for active participants2021-12-31529,482
Total participant count2021-12-3119
Total funding target for all participants2021-12-31529,482
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-3175,227
Carryover balanced portion elected for use to offset prior years funding requirement2021-12-310
Prefunding balanced used to offset prior years funding requirement2021-12-310
Amount remaining of carryover balance2021-12-310
Amount remaining of prefunding balance2021-12-3175,227
Present value of excess contributions2021-12-3112,584
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-3113,330
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-3113,330
Reductions in caryover balances due to elections or deemed elections2021-12-310
Reductions in prefunding balances due to elections or deemed elections2021-12-310
Balance of carryovers at beginning of current year2021-12-310
Balance of prefunding at beginning of current year2021-12-31101,015
Total employer contributions2021-12-31140,914
Total employee contributions2021-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2021-12-310
Contributions made to avoid restrictions adjusted to valuation date2021-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-12-31123,855
Unpaid minimum required contributions for all prior years2021-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-12-310
Remaining amount of unpaid minimum required contributions2021-12-310
Minimum required contributions for current year target normal cost2021-12-31121,170
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-31121,170
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Additional cash requirement2021-12-31121,170
Contributions allocatedtoward minimum required contributions for current year2021-12-31123,855
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
2020: OMNICARE MEDICAL GROUP CASH BALANCE PLAN 2020 401k membership
Market value of plan assets2020-12-31418,535
Acturial value of plan assets2020-12-31418,535
Funding target for retired participants and beneficiaries receiving payment2020-12-310
Number of terminated vested participants2020-12-310
Fundng target for terminated vested participants2020-12-310
Active participant vested funding target2020-12-31362,690
Number of active participants2020-12-3115
Total funding liabilities for active participants2020-12-31362,690
Total participant count2020-12-3115
Total funding target for all participants2020-12-31362,690
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-3149,149
Carryover balanced portion elected for use to offset prior years funding requirement2020-12-310
Prefunding balanced used to offset prior years funding requirement2020-12-310
Amount remaining of carryover balance2020-12-310
Amount remaining of prefunding balance2020-12-3149,149
Present value of excess contributions2020-12-3120,565
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-3121,822
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-3121,822
Reductions in caryover balances due to elections or deemed elections2020-12-310
Reductions in prefunding balances due to elections or deemed elections2020-12-310
Balance of carryovers at beginning of current year2020-12-310
Balance of prefunding at beginning of current year2020-12-3175,227
Total employer contributions2020-12-31140,969
Total employee contributions2020-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2020-12-310
Contributions made to avoid restrictions adjusted to valuation date2020-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-12-31125,362
Unpaid minimum required contributions for all prior years2020-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2020-12-310
Remaining amount of unpaid minimum required contributions2020-12-310
Minimum required contributions for current year target normal cost2020-12-31112,778
Net shortfall amortization installment of oustanding balance2020-12-310
Waiver amortization installment2020-12-310
Total funding amount beforereflecting carryover/prefunding balances2020-12-31112,778
Carryover balance elected to use to offset funding requirement2020-12-310
Prefunding balance elected to use to offset funding requirement2020-12-310
Additional cash requirement2020-12-31112,778
Contributions allocatedtoward minimum required contributions for current year2020-12-31125,362
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
2019: OMNICARE MEDICAL GROUP CASH BALANCE PLAN 2019 401k membership
Market value of plan assets2019-12-31259,419
Acturial value of plan assets2019-12-31259,419
Funding target for retired participants and beneficiaries receiving payment2019-12-310
Number of terminated vested participants2019-12-310
Fundng target for terminated vested participants2019-12-310
Active participant vested funding target2019-12-310
Number of active participants2019-12-3115
Total funding liabilities for active participants2019-12-31224,865
Total participant count2019-12-3115
Total funding target for all participants2019-12-31224,865
Balance at beginning of prior year after applicable adjustments2019-12-310
Prefunding balance at beginning of prior year after applicable adjustments2019-12-3133,442
Carryover balanced portion elected for use to offset prior years funding requirement2019-12-310
Prefunding balanced used to offset prior years funding requirement2019-12-310
Amount remaining of carryover balance2019-12-310
Amount remaining of prefunding balance2019-12-3133,442
Present value of excess contributions2019-12-3126,822
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2019-12-3128,509
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2019-12-3128,509
Reductions in caryover balances due to elections or deemed elections2019-12-310
Reductions in prefunding balances due to elections or deemed elections2019-12-310
Balance of carryovers at beginning of current year2019-12-310
Balance of prefunding at beginning of current year2019-12-3149,149
Total employer contributions2019-12-31142,022
Total employee contributions2019-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2019-12-310
Contributions made to avoid restrictions adjusted to valuation date2019-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2019-12-31128,063
Unpaid minimum required contributions for all prior years2019-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2019-12-310
Remaining amount of unpaid minimum required contributions2019-12-310
Minimum required contributions for current year target normal cost2019-12-31107,498
Net shortfall amortization installment of oustanding balance2019-12-310
Waiver amortization installment2019-12-310
Total funding amount beforereflecting carryover/prefunding balances2019-12-31107,498
Carryover balance elected to use to offset funding requirement2019-12-310
Prefunding balance elected to use to offset funding requirement2019-12-310
Additional cash requirement2019-12-31107,498
Contributions allocatedtoward minimum required contributions for current year2019-12-31128,063
Unpaid minimum required contributions for current year2019-12-310
Unpaid minimum required contributions for all years2019-12-310
2018: OMNICARE MEDICAL GROUP CASH BALANCE PLAN 2018 401k membership
Market value of plan assets2018-12-31131,834
Acturial value of plan assets2018-12-31131,834
Funding target for retired participants and beneficiaries receiving payment2018-12-310
Number of terminated vested participants2018-12-310
Fundng target for terminated vested participants2018-12-310
Active participant vested funding target2018-12-310
Number of active participants2018-12-3114
Total funding liabilities for active participants2018-12-31102,483
Total participant count2018-12-3114
Total funding target for all participants2018-12-31102,483
Balance at beginning of prior year after applicable adjustments2018-12-310
Prefunding balance at beginning of prior year after applicable adjustments2018-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2018-12-310
Prefunding balanced used to offset prior years funding requirement2018-12-310
Amount remaining of carryover balance2018-12-310
Amount remaining of prefunding balance2018-12-310
Present value of excess contributions2018-12-3131,407
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2018-12-3133,442
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2018-12-3133,442
Reductions in caryover balances due to elections or deemed elections2018-12-310
Reductions in prefunding balances due to elections or deemed elections2018-12-310
Balance of carryovers at beginning of current year2018-12-310
Balance of prefunding at beginning of current year2018-12-3133,442
Total employer contributions2018-12-31142,796
Total employee contributions2018-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2018-12-310
Contributions made to avoid restrictions adjusted to valuation date2018-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2018-12-31129,167
Unpaid minimum required contributions for all prior years2018-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2018-12-310
Remaining amount of unpaid minimum required contributions2018-12-310
Minimum required contributions for current year target normal cost2018-12-31102,345
Net shortfall amortization installment of oustanding balance2018-12-310
Waiver amortization installment2018-12-310
Total funding amount beforereflecting carryover/prefunding balances2018-12-31102,345
Carryover balance elected to use to offset funding requirement2018-12-310
Prefunding balance elected to use to offset funding requirement2018-12-310
Additional cash requirement2018-12-31102,345
Contributions allocatedtoward minimum required contributions for current year2018-12-31129,167
Unpaid minimum required contributions for current year2018-12-310
Unpaid minimum required contributions for all years2018-12-310
2017: OMNICARE MEDICAL GROUP CASH BALANCE PLAN 2017 401k membership
Market value of plan assets2017-12-310
Acturial value of plan assets2017-12-310
Funding target for retired participants and beneficiaries receiving payment2017-12-310
Number of terminated vested participants2017-12-310
Fundng target for terminated vested participants2017-12-310
Active participant vested funding target2017-12-310
Number of active participants2017-12-317
Total funding liabilities for active participants2017-12-310
Total participant count2017-12-317
Total funding target for all participants2017-12-310
Balance at beginning of prior year after applicable adjustments2017-12-310
Prefunding balance at beginning of prior year after applicable adjustments2017-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2017-12-310
Prefunding balanced used to offset prior years funding requirement2017-12-310
Amount remaining of carryover balance2017-12-310
Amount remaining of prefunding balance2017-12-310
Present value of excess contributions2017-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2017-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2017-12-310
Reductions in caryover balances due to elections or deemed elections2017-12-310
Reductions in prefunding balances due to elections or deemed elections2017-12-310
Balance of carryovers at beginning of current year2017-12-310
Balance of prefunding at beginning of current year2017-12-310
Total employer contributions2017-12-31137,806
Total employee contributions2017-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2017-12-310
Contributions made to avoid restrictions adjusted to valuation date2017-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2017-12-31123,811
Unpaid minimum required contributions for all prior years2017-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2017-12-310
Remaining amount of unpaid minimum required contributions2017-12-310
Minimum required contributions for current year target normal cost2017-12-3192,404
Net shortfall amortization installment of oustanding balance2017-12-310
Waiver amortization installment2017-12-310
Total funding amount beforereflecting carryover/prefunding balances2017-12-3192,404
Carryover balance elected to use to offset funding requirement2017-12-310
Prefunding balance elected to use to offset funding requirement2017-12-310
Additional cash requirement2017-12-3192,404
Contributions allocatedtoward minimum required contributions for current year2017-12-31123,811
Unpaid minimum required contributions for current year2017-12-310
Unpaid minimum required contributions for all years2017-12-310

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