Retirement plan

HEALTHNOW NEW YORK INC. ELECTIVE 401(K) PLAN

Name: HEALTHNOW NEW YORK, INC. - HEALTHNOW NEW YORK INC. ELECTIVE 401(K) PLAN (2019) Form 5500
Creator: HEALTHNOW NEW YORK, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HEALTHNOW NEW YORK INC. ELECTIVE 401(K) PLAN, HEALTHNOW NEW YORK, INC.

HEALTHNOW NEW YORK, INC.EIN 16-1105741Plan #008PY 2019

257 WEST GENESEE STREET - BUFFALO, NY 142022657716-887-6926

Other plans on this EIN

2 filings

#004Retirement-$102.9M assets #002Retirement-$80.5M assets

Prospect flagsLow returnsHigh feesCorrective distributions

Top hat statement on fileNQDC

Filed January 30, 2005 (most recent of 2 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$259.2M

+20.5% from 2018

Total participants

2,428

+1.3% from 2018

Average account balance

$107,786

+19.0% from 2018

Annual return

19.57%

+24.59 pp from 2018

Benchmarks

See 551 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort551 peers

Snapshot2019

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$223.60M

Not enough data

1 years with asset history on file

Average account balance

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

$138K

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.

1,618

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.

97.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+11.05%

Not enough data

1 years with return on file

Admin fee / account holder

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

$56

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
CHARLES SCHWAB & CO., INC.2 years Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$704,344
CHIAMPOU TRAVIS BESAW & KERSHNER5+ years Filed as: CHIAMPOU TRAVIS BESAW AND KERS Service code 10 · EIN 16-1468002	Accounting	$17,000
LEVEL FINANCIAL ADVISORS, INC.1 year Filed as: LEVEL FINANCIAL ADVISORS INC. Service code 26 · EIN 16-1140261	Advisory (Participants)	$7,915
CHARLES SCHWAB & CO., INC.5+ years Service code 33 · EIN 94-1737782	Securities brokerage; Direct payment ...	$2,927
CHARLES SCHWAB & CO., INC.5+ years Filed as: CHARLES SCHWAB & CO. INC. AND AFFIL Service code 59	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3D3H

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.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

3 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.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$730K

$384 / participant

Investment mgmt$8K1.1%
Other / not subdivided$722K98.9%

% of EOY assets

0.282%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CHIAMPOU, TRAVIS BESAW KERSHNER LLP
Auditor EIN: 161468002
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$107,786

$95,776+12.5%

$162,163-33.5%

$77,787+38.6%

Participation rate

98.8%

88.6%+10.1pp

87.6%+11.2pp

73.2%+25.6pp

Annual return

19.57%

37.03%-17.5pp

115.59%-96.0pp

32.57%-13.0pp

Employer contribution / active EE

$5,114

$3,874+32.0%

$5,614-8.9%

$2,504+104.2%

Participant deferral / active EE

$7,308

$6,125+19.3%

$7,298+0.1%

$3,967+84.2%

Admin fee / account holder

$304

$88+246.3%

$10,843-97.2%

$100+203.4%

Provider

Service type

Compensation

CHARLES SCHWAB & CO., INC.2 years

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$704,344

CHIAMPOU TRAVIS BESAW & KERSHNER5+ years

Filed as: CHIAMPOU TRAVIS BESAW AND KERS

Service code 10 · EIN 16-1468002

Accounting

$17,000

LEVEL FINANCIAL ADVISORS, INC.1 year

Filed as: LEVEL FINANCIAL ADVISORS INC.

Service code 26 · EIN 16-1140261

Advisory (Participants)

$7,915

CHARLES SCHWAB & CO., INC.5+ years

Service code 33 · EIN 94-1737782

Securities brokerage; Direct payment ...

$2,927

CHARLES SCHWAB & CO., INC.5+ years

Filed as: CHARLES SCHWAB & CO. INC. AND AFFIL

Service code 59

Shareholder Servicing

HEALTHNOW NEW YORK INC. ELECTIVE 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HEALTHNOW NEW YORK INC. ELECTIVE 401(K) PLAN

Top hat statement on fileNQDC

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