Retirement plan

ACCU REFERENCE MEDICAL LAB LLC 401(K) PROFIT SHARING PLAN AND T

Name: ACCU REFERENCE MEDICAL LAB LLC - ACCU REFERENCE MEDICAL LAB LLC 401(K) PROFIT SHARING PLAN AND T (2023) Form 5500
Creator: ACCU REFERENCE MEDICAL LAB LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ACCU REFERENCE MEDICAL LAB LLC 401(K) PROFIT SHARING PLAN AND T, ACCU REFERENCE MEDICAL LAB LLC

ACCU REFERENCE MEDICAL LAB LLCEIN 20-1236503Plan #001PY 2023

1901 LINDEN AVE, UNIT 12 - LINDEN, NJ 07036908-474-1004accureference.comLinkedIn501-1000 employeeshospital & health care

Prospect flagsLow assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$5M

+50.5% from 2022

Total participants

1,001

+1.2% from 2022

Average account balance

$6,053

+55.9% from 2022

Annual return

17.51%

+22.01 pp from 2022

Benchmarks

See 4,036 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,036 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.78M

Not enough data

1 years with asset history on file

Average account balance

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

$11K

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.

643

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.

55.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.72M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+13.70%

Not enough data

1 years with return on file

Admin fee / account holder

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

$191

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

Top 2 by compensation

Provider	Service type	Compensation
ADP BROKER-DEALER4 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745	Recordkeeping	$122,349
ADP BROKER-DEALER6 years Service code 59 · EIN 22-3319984	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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

2 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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

$127K

$163 / participant

Recordkeeping$122K96.1%
Investment mgmt$5K3.9%

% of EOY assets

2.524%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: LITVIN & ASSOCIATES INC
Auditor EIN: 263046723
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$6,053

$47,180-87.2%

$149,723-96.0%

$74,473-91.9%

Participation rate

78.5%

63.4%+15.1pp

78.8%-0.2pp

70.7%+7.8pp

Annual return

17.51%

22.75%-5.2pp

134.50%-117.0pp

34.36%-16.9pp

Employer contribution / active EE

$1,907-100.0%

$4,821-100.0%

$2,638-100.0%

Participant deferral / active EE

$2,040

$2,730-25.3%

$5,682-64.1%

$4,530-55.0%

Admin fee / account holder

$153

$343-55.5%

$13,215-98.8%

$347-56.0%

Provider

Service type

Compensation

ADP BROKER-DEALER4 years

Filed as: ADP, INC.

Service code 15 · EIN 13-3036745

Recordkeeping

$122,349

ADP BROKER-DEALER6 years

Service code 59 · EIN 22-3319984

Shareholder Servicing

ACCU REFERENCE MEDICAL LAB LLC 401(K) PROFIT SHARING PLAN AND T

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ACCU REFERENCE MEDICAL LAB LLC 401(K) PROFIT SHARING PLAN AND T

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