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Retirement plan

THE MOUNT SINAI MEDICAL CENTER 403(B) RETIREMENT PLAN

THE MOUNT SINAI MEDICAL CENTEREIN 13-1624096Plan #005PY 2023
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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-$23.3M assets
Prospect flagsLow returnsLow participationFailed to transmit contributions

Filing contacts

From the Form 5500, federal record
Plan sponsor & administrator signer
ROSE MARIE LIGUIGLI
Signed 10/14/2024
(646) 605-4745
How to read this page

Summary metrics

Total assets (EOY)
$8498.6M
-9.4% from 2016
Total participants
74,479
+28.2% from 2016
Average account balance
$143,509
-3.1% from 2016
Annual return
15.77%
-5.64 pp from 2016

Benchmarks

See 255 peers
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants>=10,000
Cohort255 peers
Snapshot2023
Participant deferral / active EE
$5,365
median $4,532
Employer contribution / active EE
$2,867
median $1,894
Participation rate
67.4%
median 86.5%
Avg account balance
$143,509
median $57,968
Admin fee / account holder
$15
median $47
Annual return
15.77%
median 18.72%
Overall peer rank
57th 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 6 by compensation
ProviderService typeCompensation
TIAA9+ years
Service code 15 · EIN 13-1624203
Recordkeeping
$525,018
WISS AND COMPANY, LLC5 years
Service code 10 · EIN 22-1732349
Accounting
$140,000
CAPFINANCIAL PARTNERS, LLC2 years
Service code 27 · EIN 26-0058143
Advisory (Plan)
$130,910
PROSKAUER ROSE LLP4 years
Service code 29 · EIN 13-1840454
Legal
$63,760
TRANSAMERICA RETIREMENT SOLUTIONS6 years
Service code 12 · EIN 13-3689044
Recordkeeping fees; Float revenue; Di...
$7,762
EMPOWER LIFE & ANNUITY INSURANCE1 year
Service code 64
8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111
Recordkeeping Fees
$0

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

3 tripped
  • OpportunityLow participation

    Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

  • OpportunityLow returns

    Annual investment return is in the bottom quintile of the peer cohort.

  • 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
$868K
$19 / participant
  • Recordkeeping$301K34.7%
  • Investment mgmt$348K40.1%
  • Legal$64K7.3%
  • Contract admin$15K1.7%
  • Other / not subdivided$140K16.2%
% of EOY assets
0.010%
all-in expense ratio
Categories reported
4 / 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
$140,000
Opinion code
Unqualified