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MICHAEL D PAYNE DMD PC 401K PLAN 401k Plan overview

Plan NameMICHAEL D PAYNE DMD PC 401K PLAN
Plan identification number 001

MICHAEL D PAYNE DMD PC 401K 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.
  • 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

MICHAEL D PAYNE DMD PC has sponsored the creation of one or more 401k plans.

Company Name:MICHAEL D PAYNE DMD PC
Employer identification number (EIN):830389399
NAIC Classification:621210
NAIC Description:Offices of Dentists

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MICHAEL D PAYNE DMD PC 401K PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01
0012023-01-01MICHAEL D PAYNE, MD
0012022-01-01
0012022-01-01MICHAEL D PAYNE, MD
0012021-01-01
0012021-01-01MICHAEL D PAYNE, MD
0012020-01-01
0012019-01-01
0012018-01-01
0012017-01-01MICHAEL D PAYNE, MD
0012016-01-01MICHAEL D PAYNE, MD
0012015-01-01MICHAEL D PAYNE, MD
0012014-01-01
0012013-01-01
0012012-01-01MICHAEL D. PAYNE
0012011-01-01MICHAEL D. PAYNE
0012009-01-01MICHAEL PAYNE
0012009-01-01MICHAEL PAYNE MICHAEL PAYNE2010-07-07

Financial Data on MICHAEL D PAYNE DMD PC 401K PLAN

Measure Date Value
2023 : MICHAEL D PAYNE DMD PC 401K PLAN 2023 401k financial data
Total plan liabilities at beginning of year2023-12-31$1,554
Total income from all sources2023-12-31$33,748
Expenses. Total of all expenses incurred2023-12-31$846,759
Benefits paid (including direct rollovers)2023-12-31$846,759
Total plan assets at end of year2023-12-31$0
Total plan assets at beginning of year2023-12-31$814,565
Value of fidelity bond covering the plan2023-12-31$150,000
Other income received2023-12-31$33,748
Net income (gross income less expenses)2023-12-31$-813,011
Net plan assets at end of year (total assets less liabilities)2023-12-31$0
Net plan assets at beginning of year (total assets less liabilities)2023-12-31$813,011
2022 : MICHAEL D PAYNE DMD PC 401K PLAN 2022 401k financial data
Total plan liabilities at end of year2022-12-31$1,554
Total plan liabilities at beginning of year2022-12-31$1,554
Total income from all sources2022-12-31$-82,733
Expenses. Total of all expenses incurred2022-12-31$1,315,905
Benefits paid (including direct rollovers)2022-12-31$1,305,255
Total plan assets at end of year2022-12-31$814,565
Total plan assets at beginning of year2022-12-31$2,213,203
Value of fidelity bond covering the plan2022-12-31$150,000
Total contributions received or receivable from participants2022-12-31$10,156
Other income received2022-12-31$-97,093
Net income (gross income less expenses)2022-12-31$-1,398,638
Net plan assets at end of year (total assets less liabilities)2022-12-31$813,011
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$2,211,649
Total contributions received or receivable from employer(s)2022-12-31$4,204
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$10,650
2021 : MICHAEL D PAYNE DMD PC 401K PLAN 2021 401k financial data
Total plan liabilities at end of year2021-12-31$1,554
Total plan liabilities at beginning of year2021-12-31$1,554
Total income from all sources2021-12-31$352,862
Expenses. Total of all expenses incurred2021-12-31$21,734
Benefits paid (including direct rollovers)2021-12-31$10,767
Total plan assets at end of year2021-12-31$2,213,203
Total plan assets at beginning of year2021-12-31$1,882,075
Value of fidelity bond covering the plan2021-12-31$150,000
Total contributions received or receivable from participants2021-12-31$50,195
Other income received2021-12-31$237,180
Net income (gross income less expenses)2021-12-31$331,128
Net plan assets at end of year (total assets less liabilities)2021-12-31$2,211,649
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$1,880,521
Total contributions received or receivable from employer(s)2021-12-31$65,487
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$10,967
2020 : MICHAEL D PAYNE DMD PC 401K PLAN 2020 401k financial data
Total plan liabilities at end of year2020-12-31$1,554
Total plan liabilities at beginning of year2020-12-31$1,556
Total income from all sources2020-12-31$273,391
Expenses. Total of all expenses incurred2020-12-31$7,073
Benefits paid (including direct rollovers)2020-12-31$101
Total plan assets at end of year2020-12-31$1,882,075
Total plan assets at beginning of year2020-12-31$1,615,759
Value of fidelity bond covering the plan2020-12-31$150,000
Total contributions received or receivable from participants2020-12-31$49,735
Other income received2020-12-31$149,279
Net income (gross income less expenses)2020-12-31$266,318
Net plan assets at end of year (total assets less liabilities)2020-12-31$1,880,521
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$1,614,203
Total contributions received or receivable from employer(s)2020-12-31$74,377
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$6,972
2019 : MICHAEL D PAYNE DMD PC 401K PLAN 2019 401k financial data
Total plan liabilities at end of year2019-12-31$1,556
Total plan liabilities at beginning of year2019-12-31$1,556
Total income from all sources2019-12-31$295,256
Expenses. Total of all expenses incurred2019-12-31$13,309
Total plan assets at end of year2019-12-31$1,615,759
Total plan assets at beginning of year2019-12-31$1,333,812
Value of fidelity bond covering the plan2019-12-31$150,000
Total contributions received or receivable from participants2019-12-31$49,982
Other income received2019-12-31$175,811
Net income (gross income less expenses)2019-12-31$281,947
Net plan assets at end of year (total assets less liabilities)2019-12-31$1,614,203
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$1,332,256
Total contributions received or receivable from employer(s)2019-12-31$69,463
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$13,309
2018 : MICHAEL D PAYNE DMD PC 401K PLAN 2018 401k financial data
Total plan liabilities at end of year2018-12-31$1,556
Total plan liabilities at beginning of year2018-12-31$1,554
Total income from all sources2018-12-31$-8,152
Expenses. Total of all expenses incurred2018-12-31$10,896
Total plan assets at end of year2018-12-31$1,333,812
Total plan assets at beginning of year2018-12-31$1,352,858
Value of fidelity bond covering the plan2018-12-31$150,000
Total contributions received or receivable from participants2018-12-31$45,281
Other income received2018-12-31$-115,005
Net income (gross income less expenses)2018-12-31$-19,048
Net plan assets at end of year (total assets less liabilities)2018-12-31$1,332,256
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$1,351,304
Total contributions received or receivable from employer(s)2018-12-31$61,572
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$10,896
2017 : MICHAEL D PAYNE DMD PC 401K PLAN 2017 401k financial data
Total plan liabilities at end of year2017-12-31$1,554
Total income from all sources2017-12-31$277,820
Expenses. Total of all expenses incurred2017-12-31$14,037
Benefits paid (including direct rollovers)2017-12-31$3,895
Total plan assets at end of year2017-12-31$1,352,858
Total plan assets at beginning of year2017-12-31$1,087,521
Value of fidelity bond covering the plan2017-12-31$150,000
Total contributions received or receivable from participants2017-12-31$45,018
Other income received2017-12-31$177,653
Net income (gross income less expenses)2017-12-31$263,783
Net plan assets at end of year (total assets less liabilities)2017-12-31$1,351,304
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$1,087,521
Total contributions received or receivable from employer(s)2017-12-31$55,149
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$10,142
2016 : MICHAEL D PAYNE DMD PC 401K PLAN 2016 401k financial data
Total income from all sources2016-12-31$181,061
Expenses. Total of all expenses incurred2016-12-31$5,774
Total plan assets at end of year2016-12-31$1,087,521
Total plan assets at beginning of year2016-12-31$912,234
Value of fidelity bond covering the plan2016-12-31$150,000
Total contributions received or receivable from participants2016-12-31$44,045
Other income received2016-12-31$80,663
Net income (gross income less expenses)2016-12-31$175,287
Net plan assets at end of year (total assets less liabilities)2016-12-31$1,087,521
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$912,234
Assets. Value of participant loans2016-12-31$0
Total contributions received or receivable from employer(s)2016-12-31$56,353
Expenses. Administrative service providers (salaries,fees and commissions)2016-12-31$5,774
2015 : MICHAEL D PAYNE DMD PC 401K PLAN 2015 401k financial data
Total income from all sources2015-12-31$64,013
Expenses. Total of all expenses incurred2015-12-31$7,428
Total plan assets at end of year2015-12-31$912,234
Total plan assets at beginning of year2015-12-31$855,649
Value of fidelity bond covering the plan2015-12-31$50,000
Total contributions received or receivable from participants2015-12-31$43,235
Other income received2015-12-31$-33,811
Net income (gross income less expenses)2015-12-31$56,585
Net plan assets at end of year (total assets less liabilities)2015-12-31$912,234
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$855,649
Assets. Value of participant loans2015-12-31$1,562
Total contributions received or receivable from employer(s)2015-12-31$54,589
Expenses. Administrative service providers (salaries,fees and commissions)2015-12-31$7,428
2014 : MICHAEL D PAYNE DMD PC 401K PLAN 2014 401k financial data
Total income from all sources2014-12-31$120,946
Expenses. Total of all expenses incurred2014-12-31$7,292
Benefits paid (including direct rollovers)2014-12-31$0
Total plan assets at end of year2014-12-31$855,649
Total plan assets at beginning of year2014-12-31$741,995
Value of fidelity bond covering the plan2014-12-31$50,000
Total contributions received or receivable from participants2014-12-31$40,210
Other income received2014-12-31$32,691
Net income (gross income less expenses)2014-12-31$113,654
Net plan assets at end of year (total assets less liabilities)2014-12-31$855,649
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$741,995
Assets. Value of participant loans2014-12-31$2,825
Total contributions received or receivable from employer(s)2014-12-31$48,045
Expenses. Administrative service providers (salaries,fees and commissions)2014-12-31$7,292
2013 : MICHAEL D PAYNE DMD PC 401K PLAN 2013 401k financial data
Total plan liabilities at end of year2013-12-31$0
Total plan liabilities at beginning of year2013-12-31$1,999
Total income from all sources2013-12-31$190,678
Expenses. Total of all expenses incurred2013-12-31$32,017
Benefits paid (including direct rollovers)2013-12-31$32,017
Total plan assets at end of year2013-12-31$741,995
Total plan assets at beginning of year2013-12-31$585,333
Value of fidelity bond covering the plan2013-12-31$50,000
Total contributions received or receivable from participants2013-12-31$43,082
Other income received2013-12-31$97,271
Net income (gross income less expenses)2013-12-31$158,661
Net plan assets at end of year (total assets less liabilities)2013-12-31$741,995
Net plan assets at beginning of year (total assets less liabilities)2013-12-31$583,334
Assets. Value of participant loans2013-12-31$6,812
Total contributions received or receivable from employer(s)2013-12-31$50,325
2012 : MICHAEL D PAYNE DMD PC 401K PLAN 2012 401k financial data
Total plan liabilities at end of year2012-12-31$1,999
Total income from all sources2012-12-31$139,138
Expenses. Total of all expenses incurred2012-12-31$12,948
Benefits paid (including direct rollovers)2012-12-31$12,948
Total plan assets at end of year2012-12-31$585,333
Total plan assets at beginning of year2012-12-31$457,144
Value of fidelity bond covering the plan2012-12-31$50,000
Total contributions received or receivable from participants2012-12-31$40,018
Other income received2012-12-31$47,919
Net income (gross income less expenses)2012-12-31$126,190
Net plan assets at end of year (total assets less liabilities)2012-12-31$583,334
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$457,144
Assets. Value of participant loans2012-12-31$14,511
Total contributions received or receivable from employer(s)2012-12-31$51,201
2011 : MICHAEL D PAYNE DMD PC 401K PLAN 2011 401k financial data
Total income from all sources2011-12-31$79,057
Total plan assets at end of year2011-12-31$457,144
Total plan assets at beginning of year2011-12-31$378,087
Value of fidelity bond covering the plan2011-12-31$25,000
Total contributions received or receivable from participants2011-12-31$52,715
Other income received2011-12-31$-20,869
Net income (gross income less expenses)2011-12-31$79,057
Net plan assets at end of year (total assets less liabilities)2011-12-31$457,144
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$378,087
Assets. Value of participant loans2011-12-31$25,571
Total contributions received or receivable from employer(s)2011-12-31$47,211
2010 : MICHAEL D PAYNE DMD PC 401K PLAN 2010 401k financial data
Total income from all sources2010-12-31$111,776
Expenses. Total of all expenses incurred2010-12-31$1,602
Benefits paid (including direct rollovers)2010-12-31$1,602
Total plan assets at end of year2010-12-31$378,087
Total plan assets at beginning of year2010-12-31$267,913
Total contributions received or receivable from participants2010-12-31$35,909
Other income received2010-12-31$24,291
Net income (gross income less expenses)2010-12-31$110,174
Net plan assets at end of year (total assets less liabilities)2010-12-31$378,087
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$267,913
Assets. Value of participant loans2010-12-31$20,744
Total contributions received or receivable from employer(s)2010-12-31$51,576

Form 5500 Responses for MICHAEL D PAYNE DMD PC 401K PLAN

2023: MICHAEL D PAYNE DMD PC 401K PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01This submission is the final filingYes
2023-01-01Plan funding arrangement – InsuranceYes
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement – InsuranceYes
2023-01-01Plan benefit arrangement - TrustYes
2022: MICHAEL D PAYNE DMD PC 401K PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Plan funding arrangement – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement - TrustYes
2021: MICHAEL D PAYNE DMD PC 401K PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Plan funding arrangement – InsuranceYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement – InsuranceYes
2021-01-01Plan benefit arrangement - TrustYes
2020: MICHAEL D PAYNE DMD PC 401K PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
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: MICHAEL D PAYNE DMD PC 401K PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: MICHAEL D PAYNE DMD PC 401K PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: MICHAEL D PAYNE DMD PC 401K PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: MICHAEL D PAYNE DMD PC 401K PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes
2015: MICHAEL D PAYNE DMD PC 401K PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes
2014: MICHAEL D PAYNE DMD PC 401K PLAN 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement - TrustYes
2013: MICHAEL D PAYNE DMD PC 401K PLAN 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement - TrustYes
2012: MICHAEL D PAYNE DMD PC 401K PLAN 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement - TrustYes
2011: MICHAEL D PAYNE DMD PC 401K PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes
2009: MICHAEL D PAYNE DMD PC 401K PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01This submission is the final filingNo
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )
Policy contract number
Policy instance 1
Insurance policy start date2023-01-01
Insurance policy end date2023-12-31
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )
Policy contract number
Policy instance 1
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )
Policy contract number
Policy instance 1
VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )
Policy contract number
Policy instance 1

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