Retirement plan

UPSTATE COMMUNITY MEDICAL, PC 401(K) PLAN

Name: UPSTATE COMMUNITY MEDICAL, PC - UPSTATE COMMUNITY MEDICAL, PC 401(K) PLAN (2023) 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 2023

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

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$11.5M

+28.2% from 2022

Total participants

163

+1.2% from 2022

Average account balance

$94,269

+21.9% from 2022

Annual return

24.28%

+37.86 pp from 2022

Benchmarks

See 5,710 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,710 peers

Snapshot2023

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 4 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS5 years Service code 15 · EIN 13-3689044	Recordkeeping	$26,869
KESTRA INVESTMENT SERVICES LLC5 years Filed as: KESTRA ADVISORY SERVICES, LLC Service code 27 · EIN 35-2552359	Advisory (Plan)	$19,878
COMMONWEALTH FINANCIAL NETWORK1 year Service code 27 · EIN 04-2675571	Advisory (Plan)	$4,282
ACTUARIAL PENSION ANALYSTS, INC.5 years Service code 15 · EIN 16-1316349	Recordkeeping	$500

Plan features & details

Pension benefit codes2F2G2J2K2T3D

Plan features

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$52K

$411 / participant

Investment mgmt$52K100.0%

% of EOY assets

0.451%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$94,269

$61,338+53.7%

$149,717-37.0%

$71,495+31.9%

Participation rate

67.5%

62.5%+4.9pp

78.8%-11.3pp

67.9%-0.5pp

Annual return

24.28%

35.86%-11.6pp

134.41%-110.1pp

28.85%-4.6pp

Employer contribution / active EE

$3,436

$2,381+44.3%

$4,820-28.7%

$2,589+32.7%

Participant deferral / active EE

$7,392

$2,919+153.2%

$5,682+30.1%

$4,291+72.3%

Admin fee / account holder

$425

$1,263-66.4%

$13,213-96.8%

$1,588-73.2%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS5 years

Service code 15 · EIN 13-3689044

Recordkeeping

$26,869

KESTRA INVESTMENT SERVICES LLC5 years

Filed as: KESTRA ADVISORY SERVICES, LLC

Service code 27 · EIN 35-2552359

Advisory (Plan)

$19,878

COMMONWEALTH FINANCIAL NETWORK1 year

Service code 27 · EIN 04-2675571

Advisory (Plan)

$4,282

ACTUARIAL PENSION ANALYSTS, INC.5 years

Service code 15 · EIN 16-1316349

Recordkeeping

$500

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