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FOUNDATION FOR MEDICAL CARE OF TULARE/KINGS COUNTIES 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameFOUNDATION FOR MEDICAL CARE OF TULARE/KINGS COUNTIES 401(K) PROFIT SHARING PLAN
Plan identification number 002

FOUNDATION FOR MEDICAL CARE OF TULARE/KINGS COUNTIES 401(K) PROFIT SHARING PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • 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.
  • Partial participant-directed account plan - Participants have the opportunity to direct the investment of a portion of 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.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • 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

FOUNDATION FOR MED CARE OF TULARE/KINGS COUNTIES has sponsored the creation of one or more 401k plans.

Company Name:FOUNDATION FOR MED CARE OF TULARE/KINGS COUNTIES
Employer identification number (EIN):941623803
NAIC Classification:621399
NAIC Description:Offices of All Other Miscellaneous Health Practitioners

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FOUNDATION FOR MEDICAL CARE OF TULARE/KINGS COUNTIES 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022021-07-01BRENT BOYD2023-08-16 BRENT BOYD2023-08-16
0022020-07-01
0022019-07-01
0022018-07-01
0022017-07-01
0022016-07-01BRENT BOYD2018-01-22 BRENT BOYD2018-01-22
0022015-07-01PATRICIA ROBLES2017-01-13
0022014-07-01
0022013-07-01
0022012-07-01RICHARD AUNE2013-09-03
0022011-07-01RICHARD AUNE2012-11-27
0022010-07-01RICHARD AUNE2012-01-26

Plan Statistics for FOUNDATION FOR MEDICAL CARE OF TULARE/KINGS COUNTIES 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for FOUNDATION FOR MEDICAL CARE OF TULARE/KINGS COUNTIES 401(K) PROFIT SHARING PLAN

Measure Date Value
2021: FOUNDATION FOR MEDICAL CARE OF TULARE/KINGS COUNTIES 401(K) PROFIT SHARING PLAN 2021 401k membership
Total participants, beginning-of-year2021-07-01133
Total number of active participants reported on line 7a of the Form 55002021-07-01134
Number of retired or separated participants receiving benefits2021-07-010
Number of other retired or separated participants entitled to future benefits2021-07-0126
Total of all active and inactive participants2021-07-01160
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-07-010
Total participants2021-07-01160
Number of participants with account balances2021-07-01159
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-07-0120

Financial Data on FOUNDATION FOR MEDICAL CARE OF TULARE/KINGS COUNTIES 401(K) PROFIT SHARING PLAN

Measure Date Value
2022 : FOUNDATION FOR MEDICAL CARE OF TULARE/KINGS COUNTIES 401(K) PROFIT SHARING PLAN 2022 401k financial data
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-06-30$4,928
Total income from all sources (including contributions)2022-06-30$-499,970
Total of all expenses incurred2022-06-30$1,013,911
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-06-30$938,573
Expenses. Certain deemed distributions of participant loans2022-06-30$37,540
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-06-30$834,986
Value of total assets at end of year2022-06-30$6,796,016
Value of total assets at beginning of year2022-06-30$8,304,969
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-06-30$37,798
Total interest from all sources2022-06-30$6,104
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-06-30No
Was this plan covered by a fidelity bond2022-06-30No
If this is an individual account plan, was there a blackout period2022-06-30Yes
Were there any nonexempt tranactions with any party-in-interest2022-06-30No
Contributions received from participants2022-06-30$267,340
Participant contributions at end of year2022-06-30$83,144
Participant contributions at beginning of year2022-06-30$85,419
Participant contributions at end of year2022-06-30$11,088
Participant contributions at beginning of year2022-06-30$10,071
Value of other receiveables (less allowance for doubtful accounts) at end of year2022-06-30$4,553
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2022-06-30$4,928
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-06-30No
Value of net income/loss2022-06-30$-1,513,881
Value of net assets at end of year (total assets less liabilities)2022-06-30$6,791,088
Value of net assets at beginning of year (total assets less liabilities)2022-06-30$8,304,969
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$6,412,645
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-06-30$7,745,831
Value of interest in pooled separate accounts at end of year2022-06-30$0
Interest on participant loans2022-06-30$6,104
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-06-30$-1,341,060
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-06-30No
Was there a failure to transmit to the plan any participant contributions2022-06-30Yes
Has the plan failed to provide any benefit when due under the plan2022-06-30No
Contributions received in cash from employer2022-06-30$567,646
Employer contributions (assets) at end of year2022-06-30$284,586
Employer contributions (assets) at beginning of year2022-06-30$463,648
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-06-30$938,573
Contract administrator fees2022-06-30$37,798
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32022-06-30Yes
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 name2022-06-30M. GREEN AND COMPANY, LLP
Accountancy firm EIN2022-06-30941683129

Form 5500 Responses for FOUNDATION FOR MEDICAL CARE OF TULARE/KINGS COUNTIES 401(K) PROFIT SHARING PLAN

2021: FOUNDATION FOR MEDICAL CARE OF TULARE/KINGS COUNTIES 401(K) PROFIT SHARING 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 – InsuranceYes
2021-07-01Plan funding arrangement – TrustYes
2021-07-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

STANDARD INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 69019 )
Policy contract number815604
Policy instance 1
Insurance contract or identification number815604
Number of Individuals Covered159
Insurance policy start date2021-07-01
Insurance policy end date2022-06-30
Total amount of commissions paid to insurance brokerUSD $4,994
Total amount of fees paid to insurance companyUSD $0
Contracts With Unallocated Funds Deposit Administration1
Commission paid to Insurance BrokerUSD $4,994
Insurance broker organization code?3

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