Retirement plan

GNYHA PROFIT SHARING AND SAVINGS PLAN

Name: GREATER NEW YORK HOSPITAL ASSOCIATION - GNYHA PROFIT SHARING AND SAVINGS PLAN (2022) Form 5500
Creator: GREATER NEW YORK HOSPITAL ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GNYHA PROFIT SHARING AND SAVINGS PLAN, GREATER NEW YORK HOSPITAL ASSOCIATION

GREATER NEW YORK HOSPITAL ASSOCIATIONEIN 13-1552496Plan #002PY 2022

555 WEST 57TH STREET - NEW YORK, NY 100192925212-246-7100gnyha.orgLinkedIn51-200 employeeshospital & health care

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$92.1M

-20.2% from 2021

Total participants

440

-4.3% from 2021

Average account balance

$215,206

-14.2% from 2021

Annual return

-18.94%

-35.73 pp from 2021

Benchmarks

See 5,345 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,345 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$107.24M

Not enough data

1 years with asset history on file

Average account balance

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

$292K

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.

367

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.18M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$25K

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

+15.47%

Not enough data

1 years with return on file

Admin fee / account holder

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

$758

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
ASPIRE FINANCIAL SERVICES6 years Filed as: ASPIRE ADVISORS, LLC Service code 27 · EIN 14-1764768	Advisory (Plan)	$198,056
TRANSAMERICA RETIREMENT SOLUTIONS8+ years Service code 12 · EIN 13-3689044	Direct payment from the plan; Sales l...	$58,869
NATIONAL FINANCIAL SERVICES8+ years Service code 33 · EIN 04-3523567	Securities brokerage; Securities brok...	$0

Plan features & details

Pension benefit codes2E2F2G2J2T

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.
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.

Opportunity flags

2 tripped

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.

Expense breakdown

Schedule H Part II

Admin total

$257K

$2544 / participant

Investment mgmt$198K77.1%
Other / not subdivided$59K22.9%

% of EOY assets

0.279%

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: FORVIS, LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$215,206

$65,125+230.4%

$143,797+49.7%

$66,949+221.4%

Participation rate

88.1%

65.2%+22.9pp

80.3%+7.8pp

69.8%+18.3pp

Annual return

-18.94%

-11.13%-7.8pp

-0.04%-18.9pp

1.57%-20.5pp

Employer contribution / active EE

$9,443

$2,362+299.7%

$4,952+90.7%

$2,545+271.0%

Participant deferral / active EE

$10,127

$2,920+246.8%

$5,638+79.6%

$4,239+138.9%

Admin fee / account holder

$600

$503+19.4%

$14,679-95.9%

$594+1.1%

Provider

Service type

Compensation

ASPIRE FINANCIAL SERVICES6 years

Filed as: ASPIRE ADVISORS, LLC

Service code 27 · EIN 14-1764768

Advisory (Plan)

$198,056

TRANSAMERICA RETIREMENT SOLUTIONS8+ years

Service code 12 · EIN 13-3689044

Direct payment from the plan; Sales l...

$58,869

NATIONAL FINANCIAL SERVICES8+ years

Service code 33 · EIN 04-3523567

Securities brokerage; Securities brok...

GNYHA PROFIT SHARING AND SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GNYHA PROFIT SHARING AND SAVINGS 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