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Retirement plan

THE MOUNT SINAI MEDICAL CENTER 403(B) RETIREMENT PLAN

THE MOUNT SINAI MEDICAL CENTEREIN 13-1624096Plan #005PY 2022
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150E 42ND STREET 5TH FLOOR, OFFICE 5-B-10 - NEW YORK, NY 10017646-605-4745LinkedIn10001+ employeeshospital & health care
Other plans on this EIN
1 filing
#006Retirement-$22.2M assets
Prospect flagsFailed to transmit contributions

Filing contacts

From the Form 5500, federal record
Plan sponsor & administrator signer
ROSE MARIE LIGUIGLI
Signed 10/16/2023
(646) 605-4745
How to read this page

Summary metrics

Total assets (EOY)
$7314.9M
-9.4% from 2016
Total participants
57,123
+28.2% from 2016
Average account balance
$129,329
-3.1% from 2016
Annual return
-12.13%
-5.64 pp from 2016

Benchmarks

See 237 peers
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants>=10,000
Cohort237 peers
Snapshot2022
Participant deferral / active EE
$8,153
median $4,382
Employer contribution / active EE
$4,037
median $1,922
Participation rate
98.1%
median 86.2%
Avg account balance
$129,329
median $51,383
Admin fee / account holder
$9
median $48
Annual return
-12.13%
median -15.58%
Overall peer rank
89th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$9.49B
Average account balance
Total assets / participants with a balance (line 6g)
$152K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
62,323
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
70.6%
Contributions (total)
Employer and participant dollars contributed each year
$428.61M
Contributions per participant
Average employer and participant contribution per enrolled participant
$9K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+12.05%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$31
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 5 by compensation
ProviderService typeCompensation
TIAA8+ years
Service code 15 · EIN 13-1624203
Recordkeeping
$368,234
CAPFINANCIAL PARTNERS, LLC1 year
Service code 27 · EIN 26-0058143
Advisory (Plan)
$116,208
PROSKAUER ROSE LLP3 years
Service code 16 · EIN 13-1840454
Consulting
$31,303
CAMMACK RETIREMENT GROUP, INC.1 year
Service code 27 · EIN 46-4084533
Advisory (Plan)
$10,859
TRANSAMERICA RETIREMENT SOLUTIONS5 years
Service code 12 · EIN 13-3689044
Shareholder servicing fees; Recordkee...
$7,692

Top hat statement on fileNQDC

Filed November 5, 2018 (most recent of 3 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view
One Gustave L. Levy Place
New York, State: NY Zip Code: 10029
Email— Sign in and upgrade to viewPhone— Sign in and upgrade to view

Plans declared (1)

  • Plan name not on file1 emp
Open the filing PDF

Plan features & details

Pension benefit codes2F2G2L2M2T3D
Plan features
  • 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 (shifting investment responsibility to participants).
  • 2G
    Total participant-directed account plan
    Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • 2L
    Code section 403(b)(1) arrangement
    Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
  • 2M
    Code section 403(b)(7) accounts
    Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
  • 2T
    Default investment account
    Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
  • 3D
    Pre-approved pension plan
    A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

1 tripped
  • ComplianceFailed to transmit contributions

    Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II
Admin total
$535K
$18 / participant
  • Investment mgmt$127K23.8%
  • Other / not subdivided$408K76.2%
% of EOY assets
0.007%
all-in expense ratio
Categories reported
1 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
WISS & COMPANY, LLP
Auditor EIN
221732349
Audit fees
(not subdivided)
Opinion code
Unqualified