Retirement plan

CNY MEDICAL BILLING ASSOCIATES, INC 401(K) SAVINGS PLAN

Name: CNY MEDICAL BILLING ASSOCIATES, INC - CNY MEDICAL BILLING ASSOCIATES, INC 401(K) SAVINGS PLAN (2024) Form 5500
Creator: CNY MEDICAL BILLING ASSOCIATES, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CNY MEDICAL BILLING ASSOCIATES, INC 401(K) SAVINGS PLAN, CNY MEDICAL BILLING ASSOCIATES, INC

CNY MEDICAL BILLING ASSOCIATES, INCEIN 16-1405690Plan #001PY 2024

5784 WIDEWATERS PKWY, SECOND FLOOR - SYRACUSE, NY 13214315-469-3447syracuse-ny-opendi.comLinkedIn11-50 employeeshospital & health care

Prospect flagsLow employer contribution

How to read this page

Total assets (EOY)

$2.2M

+14.6% from 2023

Total participants

-6.7% from 2023

Average account balance

$182,496

+24.2% from 2023

Annual return

9.07%

-1.64 pp from 2023

Benchmarks

See 19,460 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants<25

Cohort19,460 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.19M

Not enough data

1 years with asset history on file

Average account balance

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

$182K

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.

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.

120.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$107K

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

+9.07%

Not enough data

1 years with return on file

Admin fee / account holder

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

$131

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

0 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 codes2G2J2R3D3H

Plan features

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$2K

$157 / participant

Other / not subdivided$2K100.0%

% of EOY assets

0.072%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$182,496

$99,921+82.6%

$85,009+114.7%

$145,959+25.0%

Participation rate

80.0%

74.1%+5.9pp

67.5%+12.5pp

80.3%-0.3pp

Annual return

9.07%

83.89%-74.8pp

66.47%-57.4pp

561.95%-552.9pp

Employer contribution / active EE

$3,233-100.0%

$2,728-100.0%

$4,661-100.0%

Participant deferral / active EE

$10,698

$5,293+102.1%

$4,522+136.6%

$6,689+59.9%

Admin fee / account holder

$131

$7,252-98.2%

$6,153-97.9%

$13,398-99.0%

CNY MEDICAL BILLING ASSOCIATES, INC 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CNY MEDICAL BILLING ASSOCIATES, INC 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