Retirement plan

UPSTATE COMMUNITY MEDICAL, PC 401(K) PLAN

Name: UPSTATE COMMUNITY MEDICAL, PC - UPSTATE COMMUNITY MEDICAL, PC 401(K) PLAN (2024) Form 5500
Creator: UPSTATE COMMUNITY MEDICAL, PC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UPSTATE COMMUNITY MEDICAL, PC 401(K) PLAN, UPSTATE COMMUNITY MEDICAL, PC

UPSTATE COMMUNITY MEDICAL, PCEIN 20-3889761Plan #001PY 2024

4900 BROAD ROAD - SYRACUSE, NY 13215315-492-5140upstatecommunityobgyn.orgLinkedIn51-200 employeesmedical practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$14.1M

+22.9% from 2023

Total participants

170

+4.3% from 2023

Average account balance

$106,277

+12.7% from 2023

Annual return

14.32%

-9.96 pp from 2023

Benchmarks

See 5,998 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,998 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.13M

Not enough data

1 years with asset history on file

Average account balance

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

$106K

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.

133

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.

70.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.51M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+14.32%

Not enough data

1 years with return on file

Admin fee / account holder

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

$501

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 3 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS6 years Service code 15 · EIN 13-3689044	Recordkeeping	$34,403
COMMONWEALTH FINANCIAL NETWORK2 years Service code 27 · EIN 04-2675571	Advisory (Plan)	$31,604
ACTUARIAL PENSION ANALYSTS, INC.6 years Service code 15 · EIN 16-1316349	Recordkeeping	$600

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

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$67K

$529 / participant

Investment mgmt$32K47.4%
Contract admin$35K52.6%

% of EOY assets

0.471%

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: FUSTCHARLES LLP
Auditor EIN: 161226221
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$106,277

$55,437+91.7%

$155,534-31.7%

$74,459+42.7%

Participation rate

70.6%

61.9%+8.7pp

78.2%-7.6pp

67.2%+3.4pp

Annual return

14.32%

269.58%-255.3pp

64.92%-50.6pp

1369.70%-1355.4pp

Employer contribution / active EE

$3,416

$2,266+50.8%

$4,675-26.9%

$2,626+30.1%

Participant deferral / active EE

$8,605

$2,837+203.3%

$5,630+52.8%

$4,350+97.8%

Admin fee / account holder

$501

$1,742-71.3%

$15,900-96.9%

$1,945-74.2%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS6 years

Service code 15 · EIN 13-3689044

Recordkeeping

$34,403

COMMONWEALTH FINANCIAL NETWORK2 years

Service code 27 · EIN 04-2675571

Advisory (Plan)

$31,604

ACTUARIAL PENSION ANALYSTS, INC.6 years

Service code 15 · EIN 16-1316349

Recordkeeping

$600

UPSTATE COMMUNITY MEDICAL, PC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UPSTATE COMMUNITY MEDICAL, PC 401(K) 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