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FORM 5500 DATA

West Florida Medical Associates 401k and Profit Sharing Plan

Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan01/01/2001
  • Net Assets as of 12/31/2018 $17,595,448
  • Plan Number2
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Report Description This is an amended report.
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2018

  • Active (Eligible) Participants98
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits44
  • Subtotal142
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total142
  • Total number of participants as of 01/01/2018145
  • Number of participants with account balances137
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested13

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • AddressP O Box 640573
  • CityBeverly Hills
  • StateFL
  • Zip34465
  • Telephone(352) 527-0514
  • EIN59-3411454
  • Industry Code621111

Audit Information

  • Audit StatusAudited
  • AuditorColeman and Associates
  • Auditor EIN26-3593932
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2A 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 threshold or additional rate allowed under the permitted disparity rules of section 401(l)
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
2F ERISA section 404(c) Plan This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
2G 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.
2J 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.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
3D 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.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $500,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $-24,390
Contributions $1,349,433
Cash Contributions $1,349,433
Cash from Employers $671,193
Cash from Participants $678,240
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $-1,381,766
Total Interest $1,816
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $1,816
Interest from Other Investments $0
Total Dividends $0
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $-1,383,582
Other Income $7,943
Expenses $782,563
Total Benefit Payments $777,718
Directly to participants or beneficiaries, including direct rollovers $777,718
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $4,845
Professional Fees $0
Contract Administrator Fees $4,845
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $-806,953
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2018 12/31/2017 Change YOY
Total Assets $17,595,448 $18,402,401 -4.39%
Total noninterest-bearing cash $16,878,037 $17,699,654 -4.64%
Receivables $671,193 $667,574 0.54%
Employer Contributions $671,193 $667,574 0.54%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $46,218 $35,173 31.40%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $0 $0 0.0%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $0 0.0%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $17,595,448 $18,402,401 -4.39%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Voya Retirement Ins & Annuity Co

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Morningstar Investment advisory (plan) Service Provider $0 $3,775 $3,775
Total $0 $3,775 $3,775

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Vangrd Lifestrat Grw Fd Inv Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $10,152,683
Vangrd 500 Index Fund Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $588,358
American Funds New World Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $529,927
Vangrd Small-Cap Index Fnd Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $499,222
American Funds Fdmntl Inv Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $443,068
Dfa Real Estate Secs Port Ins Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $397,026
Vangrd Lifestrat Md Grw Fd Inv Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $389,515
Vangrd Mid-Cap Index Fund Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $366,310
Voya Intermediate Bond Fund Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $358,434
Vangrd Trgt Retire 2040 Fd Inv Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $346,107
Neuberg Berm Mdcp Grw Fnd Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $306,332
Victory Sycmr Est VI Fd Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $287,532
American Funds Europacific Fund Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $266,550
Invesco Divrsd Dividend Fd Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $262,678
Voya Large Cap Growth Fund Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $260,543
Prudential High Yield Fund Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $234,933
Dfa Us Targeted VI Port Ins Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $231,102
American Funds NW Prspctv Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $191,726
Vangrd Tot Int Stk In F Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $161,090
Vangrd Trgt Retire 2045 Fd Inv Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $136,697
Vangrd Trgt Retire 2030 Fd Inv Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $111,060
Dfa Infl-Prot Sec Port Ins Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $102,915
Carillon Eagle Sm Cap Grw Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $61,444
Voya Fixed Account Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $50,131
Vangrd Lifestrat Cns Gr Fd Inv Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $39,629
Vangrd Trgt Retire 2050 Fd Inv Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $30,596
Vangrd Trgt Retire 2025 Fd Inv Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $27,012
Vangrd Trgt Retire 2020 Fd Inv Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $15,995
Vangrd Trgt Retire 2055 Fd Inv Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $9,478
Vangrd Trgt Retire 2015 Fd Inv Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $6,335
Vangrd Trgt Retire Inc Fd Inv Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $5,343
Voya Gv Mny Mkt F A (Hld Acct) Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $3,857
Vangrd Trgt Retire 2035 Fd Inv Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $3,179
Vangrd Trgt Retire 2060 Fd Inv Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $1,246
Total $16,878,053

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Voya Retirement Insurance and Annuity Company 138
EIN 71-0294708
Industry Code 86509
Contract Number 814570
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $50,131
Value in Separate Accounts at Year End $16,827,906
Insurance Fees and Commissions $54,430
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Raymond James Insurance Group Po Box 23698 St. Petersburg, FL 33742 Insurance Agent or Broker $45,399 $0
United Retirement Plan Consultants 545 Metro Pl S Ste 240 Dublin, OH 43017 Third Party Administrator $0 $9,031 SERVICE PROGRAM FEES
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract GROUP PENSION FUNDING
Balance at the end of the previous year $49,632
Additions $499
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $499
Transferred from separate account $0
Other $0
Total of Balance and Additions $50,131
Deductions $0
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $50,131