Retirement plan

MEDISYS HEALTH NETWORK, INC. 403(B) PLAN

Name: MEDISYS HEALTH NETWORK, INC. - MEDISYS HEALTH NETWORK, INC. 403(B) PLAN (2020) Form 5500
Creator: MEDISYS HEALTH NETWORK, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MEDISYS HEALTH NETWORK, INC. 403(B) PLAN, MEDISYS HEALTH NETWORK, INC.

MEDISYS HEALTH NETWORK, INC.EIN 11-3316802Plan #002PY 2020

8900 VAN WYCK EXPRESSWAY 4N - JAMAICA, NY 11418718-206-6700medisyshealth.orgLinkedIn5001-10000 employeeshospital & health care

Other plans on this EIN

1 filing

#003Retirement-$11.4M assets

Prospect flagsLow returnsLow participation

How to read this page

Total assets (EOY)

$298.3M

-4.8% from 2016

Total participants

6,899

-2.2% from 2016

Average account balance

$83,834

-5.8% from 2016

Annual return

13.11%

-3.79 pp from 2016

Benchmarks

See 223 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants5,000-9,999

Cohort223 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$386.70M

Not enough data

1 years with asset history on file

Average account balance

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

$92K

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.

4,182

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.

44.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$26.70M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+12.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$221

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
NEWPORT GROUP, INC.5 years Service code 12 · EIN 27-2037969	Direct payment from the plan; Sub-tra...	$472,927
ROYAL ALLIANCE ASSOCIATES INC6+ years Filed as: ROYAL ALLIANCE ASSOCIATES, INC. Service code 27 390 OLD COUNTRY ROAD · GARDEN CITY, NY 11530	Advisory (Plan)	$215,564
COHNREZNICK LLP6+ years Service code 10 · EIN 22-1478099	Accounting	$5,814

Plan features & details

Pension benefit codes2A2F2G2L2M2T3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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

2 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.

Expense breakdown

Schedule H Part II

Admin total

$694K

$118 / participant

Investment mgmt$216K31.0%
Contract admin$473K68.1%
Other / not subdivided$6K0.8%

% of EOY assets

0.233%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$83,834

$63,259+32.5%

$178,510-53.0%

$93,223-10.1%

Participation rate

43.2%

72.1%-29.0pp

81.9%-38.8pp

74.9%-31.7pp

Annual return

13.11%

19.93%-6.8pp

151.13%-138.0pp

19.29%-6.2pp

Employer contribution / active EE

$514

$1,865-72.4%

$5,011-89.7%

$2,680-80.8%

Participant deferral / active EE

$2,889

$3,372-14.3%

$5,202-44.5%

$4,563-36.7%

Admin fee / account holder

$195

$58+236.4%

$13,988-98.6%

$79+146.4%

Provider

Service type

Compensation

NEWPORT GROUP, INC.5 years

Service code 12 · EIN 27-2037969

Direct payment from the plan; Sub-tra...

$472,927

ROYAL ALLIANCE ASSOCIATES INC6+ years

Filed as: ROYAL ALLIANCE ASSOCIATES, INC.

Service code 27

390 OLD COUNTRY ROAD · GARDEN CITY, NY 11530

Advisory (Plan)

$215,564

COHNREZNICK LLP6+ years

Service code 10 · EIN 22-1478099

Accounting

$5,814

MEDISYS HEALTH NETWORK, INC. 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MEDISYS HEALTH NETWORK, INC. 403(B) 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