Retirement plan

DEERFIELD MANAGEMENT COMPANY PROFIT SHARING AND 401(K) PLAN

Name: DEERFIELD MANAGEMENT COMPANY, LP - DEERFIELD MANAGEMENT COMPANY PROFIT SHARING AND 401(K) PLAN (2022) Form 5500
Creator: DEERFIELD MANAGEMENT COMPANY, LP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DEERFIELD MANAGEMENT COMPANY PROFIT SHARING AND 401(K) PLAN, DEERFIELD MANAGEMENT COMPANY, LP

DEERFIELD MANAGEMENT COMPANY, LPEIN 03-0553340Plan #001PY 2022

345 PARK AVE SOUTH, 12TH FL - NEW YORK, NY 10010212-692-7108deerfield.comLinkedIn51-200 employeesfinancial services

Prospect flagsLow returnsHigh feesLow employer contributionFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed November 14, 2008 (most recent of 2 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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How to read this page

Total assets (EOY)

$22.2M

-16.5% from 2021

Total participants

192

+13.6% from 2021

Average account balance

$124,752

-29.6% from 2021

Annual return

-22.34%

-39.65 pp from 2021

Benchmarks

See 2,166 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,166 peers

Snapshot2022

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Analytics

Total assets (EOY)

Plan-year ending balance

$38.77M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$182K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

213

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

91.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.36M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+16.17%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$557

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY3 years Filed as: PRINCIPAL LIFE INSURANCE CO Service code 13 · EIN 42-0127290	Contract Administrator	$28,212
PENSIONMARK FINANCIAL GROUP LLC1 year Filed as: PENSIONMARK FINANCIAL GROUP, LLC Service code 27	Advisory (Plan)	$26,874
PENSIONMARK FINANCIAL GROUP LLC2 years Service code 27 · EIN 61-1758632	Advisory (Plan)	$23,027
FIDELITY INVESTMENTS INSTITUTIONAL1 year Service code 37 · EIN 04-2647786	Loan Processing	$10,105

Plan features & details

Pension benefit codes2E2F2G2J2K2T3B3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
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 contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

5 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$61K

$366 / participant

Contract admin$61K100.0%

% of EOY assets

0.274%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: CARON & BLETZER
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$124,752

$102,553+21.6%

$151,611-17.7%

$66,914+86.4%

Participation rate

91.6%

85.5%+6.1pp

87.5%+4.1pp

69.8%+21.8pp

Annual return

-22.34%

-10.82%-11.5pp

3.33%-25.7pp

1.58%-23.9pp

Employer contribution / active EE

$4,180-100.0%

$6,166-100.0%

$2,544-100.0%

Participant deferral / active EE

$14,995

$6,641+125.8%

$8,363+79.3%

$4,237+253.9%

Admin fee / account holder

$342

$630-45.8%

$11,616-97.1%

$593-42.4%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY3 years

Filed as: PRINCIPAL LIFE INSURANCE CO

Service code 13 · EIN 42-0127290

Contract Administrator

$28,212

PENSIONMARK FINANCIAL GROUP LLC1 year

Filed as: PENSIONMARK FINANCIAL GROUP, LLC

Service code 27

Advisory (Plan)

$26,874

PENSIONMARK FINANCIAL GROUP LLC2 years

Service code 27 · EIN 61-1758632

Advisory (Plan)

$23,027

FIDELITY INVESTMENTS INSTITUTIONAL1 year

Service code 37 · EIN 04-2647786

Loan Processing

$10,105

DEERFIELD MANAGEMENT COMPANY PROFIT SHARING AND 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DEERFIELD MANAGEMENT COMPANY PROFIT SHARING AND 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion