Retirement plan

HIGHLAND MEDICAL PC RETIREMENT SAVINGS PLAN

Name: HIGHLAND MEDICAL PC - HIGHLAND MEDICAL PC RETIREMENT SAVINGS PLAN (2024) Form 5500
Creator: HIGHLAND MEDICAL PC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HIGHLAND MEDICAL PC RETIREMENT SAVINGS PLAN, HIGHLAND MEDICAL PC

HIGHLAND MEDICAL PCEIN 13-4034481Plan #004PY 2024

160 NORTH MIDLAND AVENUE - NYACK, NY 10960845-348-2000highlandmedicalpc.comLinkedIn201-500 employeesmedical practice

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$26.1M

+16.6% from 2023

Total participants

268

-8.2% from 2023

Average account balance

$107,374

+23.3% from 2023

Annual return

14.66%

-0.94 pp from 2023

Benchmarks

See 6,019 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort6,019 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$26.09M

Not enough data

1 years with asset history on file

Average account balance

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

$107K

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.

243

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.

88.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.54M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+14.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

$168

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
TRANSAMERICA RETIREMENT SOLUTIONS8 years Service code 12 · EIN 13-3689044	Direct payment from the plan; Investm...	$33,339
RAYMOND JAMES FINANCIAL SERVICES8 years Filed as: RAYMOND JAMES & ASSOCIATES, INC. Service code 16 · EIN 59-1237041	Consulting	$7,500
NATIONAL FINANCIAL SERVICES8 years Service code 33 · EIN 04-3523567	Securities brokerage commissions and ...	$0

Plan features & details

Pension benefit codes2F2G2J2T3D3H2E

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.
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

1 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$41K

$182 / participant

Recordkeeping$33K81.6%
Investment mgmt$8K18.4%

% of EOY assets

0.157%

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: PKF O'CONNOR DAVIES, LLP
Auditor EIN: 271728945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$107,374

$55,472+93.6%

$155,567-31.0%

$74,546+44.0%

Participation rate

88.9%

61.9%+27.0pp

78.2%+10.7pp

67.2%+21.7pp

Annual return

14.66%

268.72%-254.1pp

64.74%-50.1pp

1366.03%-1351.4pp

Employer contribution / active EE

$4,607

$2,269+103.1%

$4,674-1.4%

$2,624+75.6%

Participant deferral / active EE

$6,677

$2,838+135.3%

$5,628+18.7%

$4,347+53.6%

Admin fee / account holder

$168

$1,743-90.4%

$15,916-98.9%

$1,944-91.4%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS8 years

Service code 12 · EIN 13-3689044

Direct payment from the plan; Investm...

$33,339

RAYMOND JAMES FINANCIAL SERVICES8 years

Filed as: RAYMOND JAMES & ASSOCIATES, INC.

Service code 16 · EIN 59-1237041

Consulting

$7,500

NATIONAL FINANCIAL SERVICES8 years

Service code 33 · EIN 04-3523567

Securities brokerage commissions and ...

HIGHLAND MEDICAL PC RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HIGHLAND MEDICAL PC RETIREMENT 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