Retirement plan

CAYUGA MEDICAL ASSOCIATES 403(B) SAVINGS PLAN

Name: CAYUGA MEDICAL ASSOCIATES - CAYUGA MEDICAL ASSOCIATES 403(B) SAVINGS PLAN (2023) Form 5500
Creator: CAYUGA MEDICAL ASSOCIATES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CAYUGA MEDICAL ASSOCIATES 403(B) SAVINGS PLAN, CAYUGA MEDICAL ASSOCIATES

CAYUGA MEDICAL ASSOCIATESEIN 20-4356115Plan #001PY 2023

1301 TRUMANSBURG ROAD, SUITE P - ITHACA, NY 14850607-277-2365

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$44.5M

+29.2% from 2022

Total participants

749

+28.5% from 2022

Average account balance

$78,387

+13.5% from 2022

Annual return

21.43%

+36.38 pp from 2022

Benchmarks

See 4,038 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,038 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$51.02M

Not enough data

1 years with asset history on file

Average account balance

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

$85K

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.

603

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.

63.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.16M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+15.15%

Not enough data

1 years with return on file

Admin fee / account holder

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

$246

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
BENEFIT PLANS ADMIN SERVICES, INC.2 years Filed as: BENEFIT PLANS ADMINISTRATIVE SVCS Service code 15 · EIN 16-1503696 6 RHOADS DRIVE · UTICA, NY 13502	Recordkeeping	$60,691
WEALTHRX INC2 years Service code 26 515 CONARESS AVE · FAYETTEVILL, NY 13066	Advisory (Participants)	$56,789

Plan features & details

Pension benefit codes2A2G2L3C

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
3C
Plan not intended to be qualified
A plan not intended to be qualified under Code sections 401 403 or 408.

Opportunity flags

1 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$117K

$203 / participant

Investment mgmt$103K88.0%
Contract admin$12K10.2%
Other / not subdivided$2K1.8%

% of EOY assets

0.264%

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: SCIARABBA WALKER AND CO LLP
Auditor EIN: 161071694
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$78,387

$47,163+66.2%

$149,696-47.6%

$74,460+5.3%

Participation rate

68.7%

63.4%+5.3pp

78.8%-10.0pp

70.7%-2.0pp

Annual return

21.43%

22.75%-1.3pp

134.46%-113.0pp

34.38%-12.9pp

Employer contribution / active EE

$4,263

$1,907+123.6%

$4,821-11.6%

$2,638+61.6%

Participant deferral / active EE

$5,936

$2,730+117.4%

$5,682+4.5%

$4,530+31.0%

Admin fee / account holder

$207

$343-39.7%

$13,212-98.4%

$348-40.5%

Provider

Service type

Compensation

BENEFIT PLANS ADMIN SERVICES, INC.2 years

Filed as: BENEFIT PLANS ADMINISTRATIVE SVCS

Service code 15 · EIN 16-1503696

6 RHOADS DRIVE · UTICA, NY 13502

Recordkeeping

$60,691

WEALTHRX INC2 years

Service code 26

515 CONARESS AVE · FAYETTEVILL, NY 13066

Advisory (Participants)

$56,789

CAYUGA MEDICAL ASSOCIATES 403(B) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CAYUGA MEDICAL ASSOCIATES 403(B) SAVINGS 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