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 (2022) 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 2022

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

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$1.3M

-17.5% from 2021

Total participants

+19.2% from 2021

Average account balance

$23,393

-28.0% from 2021

Annual return

-19.84%

-32.81 pp from 2021

Benchmarks

See 19,709 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort19,709 peers

Snapshot2022

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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$168K

$5098 / participant

Other / not subdivided$168K100.0%

% of EOY assets

13.076%

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

$23,393

$73,839-68.3%

$143,788-83.7%

$68,495-65.8%

Participation rate

78.8%

66.7%+12.1pp

80.3%-1.5pp

67.9%+10.9pp

Annual return

-19.84%

1.01%-20.8pp

-0.03%-19.8pp

-7.84%-12.0pp

Employer contribution / active EE

$2,015

$3,184-36.7%

$4,952-59.3%

$2,596-22.4%

Participant deferral / active EE

$3,957

$3,384+16.9%

$5,638-29.8%

$4,028-1.8%

Admin fee / account holder

$3,059

$5,755-46.8%

$14,675-79.2%

$5,403-43.4%

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