Retirement plan

SLOCUM-DICKSON MEDICAL GROUP, PLLC RETIREMENT PLAN

Name: SLOCUM-DICKSON MEDICAL GROUP, PLLC - SLOCUM-DICKSON MEDICAL GROUP, PLLC RETIREMENT PLAN (2023) Form 5500
Creator: SLOCUM-DICKSON MEDICAL GROUP, PLLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SLOCUM-DICKSON MEDICAL GROUP, PLLC RETIREMENT PLAN, SLOCUM-DICKSON MEDICAL GROUP, PLLC

SLOCUM-DICKSON MEDICAL GROUP, PLLCEIN 20-0362623Plan #002PY 2023

1729 BURRSTONE ROAD - NEW HARTFORD, NY 13413315-798-1500sdmg.comLinkedIn201-500 employeesmedical practice

Prospect flagsLow returnsHigh feesCorrective distributions

Top hat statement on fileNQDC

Filed November 1, 2011

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)

$81.4M

-15.9% from 2022

Total participants

705

+3.1% from 2022

Average account balance

$127,429

-17.4% from 2022

Annual return

-6.63%

-11.17 pp from 2022

Benchmarks

See 4,038 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,038 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$87.15M

Not enough data

1 years with asset history on file

Average account balance

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

$150K

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.

581

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.

91.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.97M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+6.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$567

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 8 by compensation

Provider	Service type	Compensation
NBT BANCORP NA1 year Filed as: NBT BANCORP, N.A. Service code 21 · EIN 16-1268674	Bank Trustee	$265,735
ASCENT WEALTH PARTNERS, LLC8+ years Service code 28 122 BUSINESS PARK DR. · UTICA, NY 13502	Investment Management	$56,830
STRATEGIC FINANCIAL SERVICES5 years Service code 28 · EIN 16-1334685	Investment Management	$42,323
MAKROD INVESTMENT ASSOCIATES4 years Service code 27 · EIN 22-2034385	Advisory (Plan)	$39,362
CHARLES SCHWAB & CO., INC.4 years Filed as: CHARLES SCHWAB TRUST BANK Service code 19 · EIN 82-3967259	Securities Custodian	$20,777
HFR WEALTH MANAGEMENT LLC2 years Service code 27 · EIN 86-3584492	Advisory (Plan)	$9,184
CHARLES SCHWAB & CO., INC.8+ years Service code 59 · EIN 94-1737782	Shareholder Servicing	$19
EPIC RETIREMENT PLAN SERVICES5 years Service code 15 · EIN 16-1450952	Recordkeeping	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2R2T3D

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

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

$324K

$670 / participant

Investment mgmt$58K17.9%
Other / not subdivided$266K82.1%

% of EOY assets

0.398%

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: D'ARCANGELO & CO., LLP
Auditor EIN: 132550103
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$127,429

$47,163+170.2%

$149,696-14.9%

$74,460+71.1%

Participation rate

86.3%

63.4%+22.9pp

78.8%+7.6pp

70.7%+15.6pp

Annual return

-6.63%

22.75%-29.4pp

134.46%-141.1pp

34.38%-41.0pp

Employer contribution / active EE

$4,810

$1,907+152.3%

$4,821-0.2%

$2,638+82.3%

Participant deferral / active EE

$3,664

$2,730+34.2%

$5,682-35.5%

$4,530-19.1%

Admin fee / account holder

$507

$343+47.7%

$13,212-96.2%

$348+45.7%

Provider

Service type

Compensation

NBT BANCORP NA1 year

Filed as: NBT BANCORP, N.A.

Service code 21 · EIN 16-1268674

Bank Trustee

$265,735

ASCENT WEALTH PARTNERS, LLC8+ years

Service code 28

122 BUSINESS PARK DR. · UTICA, NY 13502

Investment Management

$56,830

STRATEGIC FINANCIAL SERVICES5 years

Service code 28 · EIN 16-1334685

Investment Management

$42,323

MAKROD INVESTMENT ASSOCIATES4 years

Service code 27 · EIN 22-2034385

Advisory (Plan)

$39,362

CHARLES SCHWAB & CO., INC.4 years

Filed as: CHARLES SCHWAB TRUST BANK

Service code 19 · EIN 82-3967259

Securities Custodian

$20,777

HFR WEALTH MANAGEMENT LLC2 years

Service code 27 · EIN 86-3584492

Advisory (Plan)

$9,184

CHARLES SCHWAB & CO., INC.8+ years

Service code 59 · EIN 94-1737782

Shareholder Servicing

$19

EPIC RETIREMENT PLAN SERVICES5 years

Service code 15 · EIN 16-1450952

Recordkeeping

SLOCUM-DICKSON MEDICAL GROUP, PLLC RETIREMENT PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SLOCUM-DICKSON MEDICAL GROUP, PLLC RETIREMENT 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