Retirement plan

PRINCETON MEDICAL GROUP, P.A. EMPLOYEES' PROFIT SHARING AND SALARY REDUCTION PLAN

Name: PRINCETON MEDICAL GROUP, P.A. - PRINCETON MEDICAL GROUP, P.A. EMPLOYEES' PROFIT SHARING AND SALARY REDUCTION PLAN (2023) Form 5500
Creator: PRINCETON MEDICAL GROUP, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PRINCETON MEDICAL GROUP, P.A. EMPLOYEES' PROFIT SHARING AND SALARY REDUCTION PLAN, PRINCETON MEDICAL GROUP, P.A.

PRINCETON MEDICAL GROUP, P.A.EIN 22-2306123Plan #003PY 2023

PRINCETON HEALTHCARE CENTER, 419 HARRISON STREET SUITES 101/201 - PRINCETON, NJ 085403594609-924-9300LinkedIn1-10 employeeshospital & health care

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$49.6M

+15.0% from 2022

Total participants

338

+1.2% from 2022

Average account balance

$152,512

+13.6% from 2022

Annual return

17.67%

+34.87 pp from 2022

Benchmarks

See 5,708 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,708 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$56.88M

Not enough data

1 years with asset history on file

Average account balance

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

$164K

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.

346

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.

93.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.45M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+16.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$24

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

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 codes2E2F2H2J2R2T3D3F

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$38K

$174 / participant

Recordkeeping$38K100.0%

% of EOY assets

0.077%

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: WITHUM SMITH & BROWN
Auditor EIN: 222027092
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$152,512

$61,356+148.6%

$149,696+1.9%

$71,511+113.3%

Participation rate

94.0%

62.5%+31.5pp

78.8%+15.3pp

67.9%+26.1pp

Annual return

17.67%

35.86%-18.2pp

134.46%-116.8pp

28.86%-11.2pp

Employer contribution / active EE

$5,741

$2,382+141.0%

$4,821+19.1%

$2,589+121.7%

Participant deferral / active EE

$6,878

$2,920+135.6%

$5,682+21.1%

$4,291+60.3%

Admin fee / account holder

$117

$1,263-90.8%

$13,212-99.1%

$1,588-92.7%

PRINCETON MEDICAL GROUP, P.A. EMPLOYEES' PROFIT SHARING AND SALARY REDUCTION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PRINCETON MEDICAL GROUP, P.A. EMPLOYEES' PROFIT SHARING AND SALARY REDUCTION 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