Retirement plan

SYRACUSE HOME ASSOCIATION RETIREMENT PLAN

Name: SYRACUSE HOME ASSOCIATION - SYRACUSE HOME ASSOCIATION RETIREMENT PLAN (2023) Form 5500
Creator: SYRACUSE HOME ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SYRACUSE HOME ASSOCIATION RETIREMENT PLAN, SYRACUSE HOME ASSOCIATION

SYRACUSE HOME ASSOCIATIONEIN 15-0533582Plan #001PY 2023

7740 MEIGS RD - BALDWINSVILLE, NY 130279757315-638-2521LinkedIn11-50 employeesmedical practice

Other plans on this EIN

1 filing

#002Retirement-$856K assets

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$10M

+0.8% from 2022

Total participants

172

-2.8% from 2022

Average account balance

$64,869

+6.7% from 2022

Annual return

15.20%

+31.69 pp from 2022

Benchmarks

See 5,710 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,710 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.87M

Not enough data

1 years with asset history on file

Average account balance

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

$79K

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.

138

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.

94.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$737K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+11.04%

Not enough data

1 years with return on file

Admin fee / account holder

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

$523

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 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290	Contract Administrator	$83,139
CETERA ADVISOR NETWORKS LLC6 years Service code 27 · EIN 95-3845382	Advisory (Plan)	$18,944
BONADIO & CO., LLP9+ years Service code 10 · EIN 16-1131146	Accounting	$9,899
COURIER CAPITAL1 year Filed as: COURIER CAPITAL LLC Service code 27 · EIN 26-4665268	Advisory (Plan)	$9,793
CETERA ADVISOR NETWORKS LLC1 year Filed as: CETERA INVESTMENT ADVISERS LLC Service code 27 · EIN 36-3258176	Advisory (Plan)	$6,388

Plan features & details

Pension benefit codes2E2H2J2K2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$103K

$734 / participant

Investment mgmt$10K9.5%
Contract admin$83K80.9%
Other / not subdivided$10K9.6%

% of EOY assets

1.029%

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: BONADIO & CO., LLP
Auditor EIN: 161131146
Audit fees: $9,899
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$64,869

$61,338+5.8%

$149,717-56.7%

$71,495-9.3%

Participation rate

87.1%

62.5%+24.6pp

78.8%+8.4pp

67.9%+19.2pp

Annual return

15.20%

35.86%-20.7pp

134.41%-119.2pp

28.85%-13.7pp

Employer contribution / active EE

$2,445

$2,381+2.7%

$4,820-49.3%

$2,589-5.6%

Participant deferral / active EE

$2,532

$2,919-13.3%

$5,682-55.4%

$4,291-41.0%

Admin fee / account holder

$668

$1,263-47.1%

$13,213-94.9%

$1,588-57.9%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY9+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$83,139

CETERA ADVISOR NETWORKS LLC6 years

Service code 27 · EIN 95-3845382

Advisory (Plan)

$18,944

BONADIO & CO., LLP9+ years

Service code 10 · EIN 16-1131146

Accounting

$9,899

COURIER CAPITAL1 year

Filed as: COURIER CAPITAL LLC

Service code 27 · EIN 26-4665268

Advisory (Plan)

$9,793

CETERA ADVISOR NETWORKS LLC1 year

Filed as: CETERA INVESTMENT ADVISERS LLC

Service code 27 · EIN 36-3258176

Advisory (Plan)

$6,388

SYRACUSE HOME ASSOCIATION RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SYRACUSE HOME ASSOCIATION RETIREMENT 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