Retirement plan

EAST RIVER MEDICAL IMAGING PROFIT SHARING PLAN

Name: EAST RIVER MEDICAL IMAGING - EAST RIVER MEDICAL IMAGING PROFIT SHARING PLAN (2023) Form 5500
Creator: EAST RIVER MEDICAL IMAGING
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EAST RIVER MEDICAL IMAGING PROFIT SHARING PLAN, EAST RIVER MEDICAL IMAGING

EAST RIVER MEDICAL IMAGINGEIN 13-3279361Plan #002PY 2023

519 EAST 72ND STREET, SUITE 103 - NEW YORK, NY 10021212-288-1575eastriverimaging.comLinkedIn51-200 employeesmedical practice

Prospect flagsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$18.7M

+21.3% from 2022

Total participants

189

+11.2% from 2022

Average account balance

$101,553

+8.1% from 2022

Annual return

17.96%

+35.50 pp from 2022

Benchmarks

See 5,708 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,708 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$21.03M

Not enough data

1 years with asset history on file

Average account balance

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

$120K

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.

175

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.

99.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.05M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+12.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$491

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 4 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY6 years Service code 27 1585 BROADWAY · NEW YORK, NY 10036	Advisory (Plan)	$32,362
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER LIFE & ANNUITY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$31,181
GELMAN PENSION CONSULTING, INC.7 years Service code 13 70 WEST 40TH STREET · NEW YORK, NY 10018	Contract Administrator	$15,250
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$5,618

Plan features & details

Pension benefit codes2A2E2F2H2J3D

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).
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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$74K

$505 / participant

Investment mgmt$74K100.0%

% of EOY assets

0.395%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$101,553

$61,356+65.5%

$149,696-32.2%

$71,511+42.0%

Participation rate

96.6%

62.5%+34.0pp

78.8%+17.8pp

67.9%+28.6pp

Annual return

17.96%

35.86%-17.9pp

134.46%-116.5pp

28.86%-10.9pp

Employer contribution / active EE

$2,382-100.0%

$4,821-100.0%

$2,589-100.0%

Participant deferral / active EE

$7,170

$2,920+145.6%

$5,682+26.2%

$4,291+67.1%

Admin fee / account holder

$401

$1,263-68.3%

$13,212-97.0%

$1,588-74.8%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY6 years

Service code 27

1585 BROADWAY · NEW YORK, NY 10036

Advisory (Plan)

$32,362

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER LIFE & ANNUITY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$31,181

GELMAN PENSION CONSULTING, INC.7 years

Service code 13

70 WEST 40TH STREET · NEW YORK, NY 10018

Contract Administrator

$15,250

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$5,618

EAST RIVER MEDICAL IMAGING PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EAST RIVER MEDICAL IMAGING PROFIT SHARING 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