Retirement plan

CENTRAL NEW YORK CARDIOLOGY, P.C. 401(K) SAVINGS PLAN

Name: CENTRAL NEW YORK CARDIOLOGY, P.C. - CENTRAL NEW YORK CARDIOLOGY, P.C. 401(K) SAVINGS PLAN (2019) Form 5500
Creator: CENTRAL NEW YORK CARDIOLOGY, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CENTRAL NEW YORK CARDIOLOGY, P.C. 401(K) SAVINGS PLAN, CENTRAL NEW YORK CARDIOLOGY, P.C.

CENTRAL NEW YORK CARDIOLOGY, P.C.EIN 16-1225773Plan #002PY 2019

2211 GENESEE ST STE 200 - UTICA, NY 135015930315-733-7598cnycardiology.comLinkedIn51-200 employeesmedical practice

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$21.1M

+18.8% from 2018

Total participants

146

+18.7% from 2018

Average account balance

$156,590

+2.0% from 2018

Annual return

19.51%

+25.38 pp from 2018

Benchmarks

See 5,343 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,343 peers

Snapshot2019

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Analytics

Total assets (EOY)

Plan-year ending balance

$26.63M

Not enough data

1 years with asset history on file

Average account balance

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

$153K

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.

174

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

$1.65M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+12.14%

Not enough data

1 years with return on file

Admin fee / account holder

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

$474

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 2 by compensation

Provider	Service type	Compensation
STRATEGIC FINANCIAL SERVICES1 year Service code 27 · EIN 16-1334685	Advisory (Plan)	$44,905
FIDELITY INVESTMENTS INSTITUTIONAL1 year Filed as: FIDELITY INVESTMENTS INST'L OPS CO Service code 37 · EIN 04-2647786	Loan Processing	$25,273

Plan features & details

Pension benefit codes2A2E2J2K2F2G3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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

$70K

$600 / participant

Other / not subdivided$70K100.0%

% of EOY assets

0.332%

all-in expense ratio

Categories reported

0 / 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: D'ARCANGELO & CO., LLP
Auditor EIN: 130255013
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$156,590

$52,953+195.7%

$172,739-9.3%

$65,185+140.2%

Participation rate

90.6%

66.2%+24.4pp

82.6%+8.0pp

70.2%+20.4pp

Annual return

19.51%

30.12%-10.6pp

802.84%-783.3pp

29.38%-9.9pp

Employer contribution / active EE

$6,066

$2,190+177.0%

$5,143+18.0%

$2,177+178.7%

Participant deferral / active EE

$5,234

$2,471+111.8%

$5,198+0.7%

$3,514+49.0%

Admin fee / account holder

$520

$472+10.2%

$13,954-96.3%

$847-38.6%

Provider

Service type

Compensation

STRATEGIC FINANCIAL SERVICES1 year

Service code 27 · EIN 16-1334685

Advisory (Plan)

$44,905

FIDELITY INVESTMENTS INSTITUTIONAL1 year

Filed as: FIDELITY INVESTMENTS INST'L OPS CO

Service code 37 · EIN 04-2647786

Loan Processing

$25,273

CENTRAL NEW YORK CARDIOLOGY, P.C. 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CENTRAL NEW YORK CARDIOLOGY, P.C. 401(K) 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