Retirement plan

CHEMBIO DIAGNOSTIC SYSTEMS, INC. 401(K) PLAN

Name: CHEMBIO DIAGNOSTIC SYSTEMS, INC. - CHEMBIO DIAGNOSTIC SYSTEMS, INC. 401(K) PLAN (2016) Form 5500
Creator: CHEMBIO DIAGNOSTIC SYSTEMS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHEMBIO DIAGNOSTIC SYSTEMS, INC. 401(K) PLAN, CHEMBIO DIAGNOSTIC SYSTEMS, INC.

CHEMBIO DIAGNOSTIC SYSTEMS, INC.EIN 11-2813910Plan #001PY 2016

3661 HORSEBLOCK ROAD - MEDFORD, NY 117630000631-924-1135chembio.comLinkedIn51-200 employeesmedical devices

Prospect flagsLow participationLow fidelity bondCorrective distributions

How to read this page

Total assets (EOY)

$4.4M

+17.5% from 2015

Total participants

146

-9.3% from 2015

Average account balance

$47,246

+22.5% from 2015

Annual return

7.57%

+8.67 pp from 2015

Benchmarks

See 1,948 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort1,948 peers

Snapshot2016

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$8.67M

Not enough data

1 years with asset history on file

Average account balance

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

$51K

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.

170

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.

63.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$744K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+46.44%

Not enough data

1 years with return on file

Admin fee / account holder

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

$255

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

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 3 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN STANLEY SMITH BARNEY LLC Service code 55 1300 FRANKLIN AVE · GARDEN CITY, NY 115301886	Other Commissions	$6,733
THE ANGELL PENSION GROUP, INC.2+ years Filed as: THE ANGELL PENSION GROUP, INC Service code 13 88 BOYD AVE · EAST PROVIDENCE, RI 029141202	Contract Administrator	$1,785
AMERICAN FUNDS2+ years Filed as: CAPITAL RESEARCH AND MANAGEMENT CO Service code 64 333 SOUTH HOPE STREET · LOS ANGELES, CA 90071	Recordkeeping Fees	$812

Plan features & details

Pension benefit codes2E2F2G2J2K3D3H

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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Plan-level admin expenses are zero - fees are likely paid at the master-trust level rather than the individual plan.

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: COHNREZNICK, LLP
Auditor EIN: 221478099
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$47,246

$56,640-16.6%

$78,002-39.4%

$55,167-14.4%

Participation rate

56.7%

73.3%-16.7pp

75.5%-18.9pp

69.0%-12.3pp

Annual return

7.57%

2868.48%-2860.9pp

425.99%-418.4pp

169.23%-161.7pp

Employer contribution / active EE

$780

$1,724-54.7%

$2,470-68.4%

$1,963-60.2%

Participant deferral / active EE

$3,867

$2,778+39.2%

$3,497+10.6%

$3,054+26.6%

Admin fee / account holder

-$35

$467-107.5%

$5,481-100.6%

$504-106.9%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN STANLEY SMITH BARNEY LLC

Service code 55

1300 FRANKLIN AVE · GARDEN CITY, NY 115301886

Other Commissions

$6,733

THE ANGELL PENSION GROUP, INC.2+ years

Filed as: THE ANGELL PENSION GROUP, INC

Service code 13

88 BOYD AVE · EAST PROVIDENCE, RI 029141202

Contract Administrator

$1,785

AMERICAN FUNDS2+ years

Filed as: CAPITAL RESEARCH AND MANAGEMENT CO

Service code 64

333 SOUTH HOPE STREET · LOS ANGELES, CA 90071

Recordkeeping Fees

$812

CHEMBIO DIAGNOSTIC SYSTEMS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHEMBIO DIAGNOSTIC SYSTEMS, INC. 401(K) PLAN

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