Retirement plan

FAMILY HEALTH NETWORK OF CENTRAL NEW YORK 401(K) PROFIT SHARING PLAN

Name: FAMILY HEALTH NETWORK OF CENTRAL NEW YORK - FAMILY HEALTH NETWORK OF CENTRAL NEW YORK 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: FAMILY HEALTH NETWORK OF CENTRAL NEW YORK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FAMILY HEALTH NETWORK OF CENTRAL NEW YORK 401(K) PROFIT SHARING PLAN, FAMILY HEALTH NETWORK OF CENTRAL NEW YORK

FAMILY HEALTH NETWORK OF CENTRAL NEW YORKEIN 16-1133983Plan #001PY 2024

85 SOUTH WEST ST. - HOMER, NY 13077607-753-3797LinkedIn1-10 employeeshospital & health care

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$5M

+17.3% from 2023

Total participants

205

+5.1% from 2023

Average account balance

$24,750

+9.8% from 2023

Annual return

19.20%

+3.16 pp from 2023

Benchmarks

See 6,010 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort6,010 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.05M

Not enough data

1 years with asset history on file

Average account balance

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

$25K

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.

204

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.

99.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$473K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+19.20%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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

1 tripped

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$1K

$11 / participant

Contract admin$1K100.0%

% of EOY assets

0.025%

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: BONADIO & CO., LLP
Auditor EIN: 161131146
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$24,750

$55,423-55.3%

$155,602-84.1%

$74,400-66.7%

Participation rate

99.2%

61.9%+37.3pp

78.2%+20.9pp

67.2%+31.9pp

Annual return

19.20%

269.07%-249.9pp

64.81%-45.6pp

1367.51%-1348.3pp

Employer contribution / active EE

$1,745

$2,266-23.0%

$4,675-62.7%

$2,624-33.5%

Participant deferral / active EE

$2,260

$2,835-20.3%

$5,629-59.8%

$4,348-48.0%

Admin fee / account holder

$1,744-99.6%

$15,923-100.0%

$1,944-99.7%

FAMILY HEALTH NETWORK OF CENTRAL NEW YORK 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FAMILY HEALTH NETWORK OF CENTRAL NEW YORK 401(K) 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