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FORM 5500 DATA

Merced Faculty Associates Medical Group, lnc. 401k Profit Sharing Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/2002
  • Net Assets as of 12/31/2019 $17,564,890
  • Plan Number3
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants185
  • Retired or separated participants receiving benefits4
  • Other retired or separated participants entitled to future benefits116
  • Subtotal305
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total305
  • Total number of participants as of 01/01/2019282
  • Number of participants with account balances295
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

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

Sponsor Information

  • AddressPo Box 3768
  • CityMerced
  • StateCA
  • Zip95344
  • Telephone(209) 725-7149
  • EIN77-0252214
  • Industry Code621111
  • Named AdministratorRebecca Shaw

Audit Information

  • Audit StatusAudited
  • AuditorBorchardt,Corona,Faeth & Zakarian
  • Auditor EIN77-0314847
  • 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.
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.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
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 $4,660,030
Contributions $1,148,945
Cash Contributions $1,148,945
Cash from Employers $856,076
Cash from Participants $292,869
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $3,511,085
Total Interest $32,591
Interest-Bearing Cash $11,776
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $20,815
Interest from Other Investments $0
Total Dividends $881,733
Preferred Stock $0
Common Stock $24,231
Rents $0
Net gain (loss) on sale of assets $174,110
Aggregate Proceeds $3,058,785
Aggregate Carrying Amount $2,884,675
Total Unrealized Appreciation (depreciation) of assets $485,771
Real Estate $0
Other $485,771
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 $1,936,880
Other Income $0
Expenses $1,155,869
Total Benefit Payments $1,118,823
Directly to participants or beneficiaries, including direct rollovers $1,118,823
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $-163
Interest expense $0
Total Administrative Expenses $37,209
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $37,209
Net Income $3,504,161
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $17,564,985 $14,060,824 24.92%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $0 0.0%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $498,841 $486,956 2.44%
Interest-bearing cash $498,841 $486,956 2.44%
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 $1,685,754 $1,093,282 54.19%
Preferred $0 $0 0.0%
Common $1,685,754 $1,093,282 54.19%
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 $498,628 $362,705 37.47%
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 $14,789,080 $12,027,826 22.96%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $92,682 $90,055 2.92%
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 $95 $95 0.00%
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) $95 $95 0.00%
Net Assets $17,564,890 $14,060,729 24.92%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Investments Institutional

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
Ubs Financial Services Inc Investment advisory (plan) Advisor $24,058 $0 $24,058
Fidelity Investments Institutional Participant loan processing, Sub-transfer agency fees, Recordkeeping fees, Account maintenance fees, Securities brokerage commissions and fees Recordkeeper $13,809 $0 $13,809
Total $37,867 $0 $37,867

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Fidelity Investments Institutional Artisan Glbl Val Inv - Dst Asset M Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Blkrk Global Alloc I - Bny Mellon Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Bnym Intl Stock I - Bny Mellon Tra Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Calamos Intl Grth I - U.S. Bank Gl Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Fkln Intl Sm Cap A - Franklin Temp Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Fkln Intl Sm Cap Adv - Franklin Te Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional I O Develop Mkt Y - Invesco Invest Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional I O Intl Smmid Co Y - Invesco Inve Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional J H Flexible Bond T - Janus Servic Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Jh Dscpl Val Mdcp I - John Hancock Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Ld Abt High Yield R5 - Dst Systems Sub-transfer agency fees 0.20% $0
Fidelity Investments Institutional Ld Abt Sh Dtn Inc R5 - Dst Systems Sub-transfer agency fees 0.20% $0
Fidelity Investments Institutional Mfs Divers Inc R4 - Mfs Service Ce Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Mfs Intl Intr Val R4 - Mfs Service Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Msif Growth I - Dst Asset Manager Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Pgim J Glb Eq Inc Z - Prudential M Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Tmpl Global Bond A - Franklin Temp Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Tmpl Global Bond Adv - Franklin Te Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Victory S Sm Co Op I - Fis Investo Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Vrs Select Growth Y - Fis Investor Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Vrts C Mdcp Val Eq I - Virtus Fund Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Wf Prem Lg Co Gr Is - Dst Asset Ma Sub-transfer agency fees 0.05% $0
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

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

No investments information available for this plan.

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.