Retirement plan

HIGHLAND MEDICAL PC RETIREMENT SAVINGS PLAN

Name: HIGHLAND MEDICAL PC - HIGHLAND MEDICAL PC RETIREMENT SAVINGS PLAN (2023) 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 2023

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)

$22.4M

+20.9% from 2022

Total participants

292

+4.7% from 2022

Average account balance

$87,083

+13.4% from 2022

Annual return

15.60%

+29.80 pp from 2022

Benchmarks

See 5,703 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,703 peers

Snapshot2023

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 SOLUTIONS7 years Service code 12 · EIN 13-3689044	Direct payment from the plan; Claims ...	$24,942
RAYMOND JAMES FINANCIAL SERVICES7 years Filed as: RAYMOND JAMES & ASSOCIATES, INC. Service code 16 · EIN 59-1237041	Consulting	$10,000
NATIONAL FINANCIAL SERVICES7 years Service code 33 · EIN 04-3523567	Securities brokerage; Securities brok...	$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

$35K

$169 / participant

Recordkeeping$25K71.4%
Investment mgmt$10K28.6%

% of EOY assets

0.156%

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

$87,083

$61,391+41.8%

$149,723-41.8%

$71,529+21.7%

Participation rate

83.1%

62.5%+20.6pp

78.8%+4.3pp

67.9%+15.2pp

Annual return

15.60%

35.88%-20.3pp

134.50%-118.9pp

28.97%-13.4pp

Employer contribution / active EE

$4,576

$2,384+92.0%

$4,821-5.1%

$2,590+76.7%

Participant deferral / active EE

$7,198

$2,921+146.4%

$5,682+26.7%

$4,291+67.7%

Admin fee / account holder

$136

$1,264-89.2%

$13,215-99.0%

$1,588-91.4%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS7 years

Service code 12 · EIN 13-3689044

Direct payment from the plan; Claims ...

$24,942

RAYMOND JAMES FINANCIAL SERVICES7 years

Filed as: RAYMOND JAMES & ASSOCIATES, INC.

Service code 16 · EIN 59-1237041

Consulting

$10,000

NATIONAL FINANCIAL SERVICES7 years

Service code 33 · EIN 04-3523567

Securities brokerage; Securities brok...

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