Retirement plan

NORTH JERSEY INTERNAL MEDICINE 401(K) PROFIT SHARING PLAN & TRUST

Name: NORTH JERSEY INTERNAL MEDICINE - NORTH JERSEY INTERNAL MEDICINE 401(K) PROFIT SHARING PLAN & TRUST (2020) Form 5500
Creator: NORTH JERSEY INTERNAL MEDICINE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORTH JERSEY INTERNAL MEDICINE 401(K) PROFIT SHARING PLAN & TRUST, NORTH JERSEY INTERNAL MEDICINE

NORTH JERSEY INTERNAL MEDICINEEIN 20-3607978Plan #001PY 2020

92 SUMMIT AVENUE - HACKENSACK, NJ 07601201-342-0066LinkedIn11-50 employees

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.2M

+24.7% from 2019

Total participants

+20.5% from 2019

Average account balance

$27,749

-8.6% from 2019

Annual return

14.52%

-9.48 pp from 2019

Benchmarks

See 18,633 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort18,633 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.83M

Not enough data

1 years with asset history on file

Average account balance

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

$57K

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.

94.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$375K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+25.35%

Not enough data

1 years with return on file

Admin fee / account holder

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

$587

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 codes2E2F2G2J2T3D3H

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$58K

$1949 / participant

Other / not subdivided$58K100.0%

% of EOY assets

4.681%

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

$27,749

$91,179-69.6%

$178,499-84.5%

$79,852-65.2%

Participation rate

93.3%

69.2%+24.1pp

81.9%+11.4pp

69.6%+23.7pp

Annual return

14.52%

24.19%-9.7pp

151.10%-136.6pp

31.72%-17.2pp

Employer contribution / active EE

$1,778

$3,256-45.4%

$5,011-64.5%

$2,471-28.1%

Participant deferral / active EE

$3,045

$3,236-5.9%

$5,202-41.5%

$3,740-18.6%

Admin fee / account holder

$1,299

$6,749-80.8%

$13,986-90.7%

$5,306-75.5%

NORTH JERSEY INTERNAL MEDICINE 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORTH JERSEY INTERNAL MEDICINE 401(K) PROFIT SHARING PLAN & TRUST

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