Retirement plan

HAMILTON CARDIOLOGY ASSOCIATES, P.A. 401(K) PLAN

Name: HAMILTON CARDIOLOGY ASSOCIATES, P.A. - HAMILTON CARDIOLOGY ASSOCIATES, P.A. 401(K) PLAN (2023) Form 5500
Creator: HAMILTON CARDIOLOGY ASSOCIATES, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HAMILTON CARDIOLOGY ASSOCIATES, P.A. 401(K) PLAN, HAMILTON CARDIOLOGY ASSOCIATES, P.A.

HAMILTON CARDIOLOGY ASSOCIATES, P.A.EIN 22-3052989Plan #001PY 2023

2073 KLOCKNER ROAD - HAMILTON TOWNSHIP, NJ 08690609-631-7104LinkedIn11-50 employeesmedical practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$19.5M

+20.7% from 2022

Total participants

184

+8.9% from 2022

Average account balance

$115,885

+12.8% from 2022

Annual return

16.15%

+32.41 pp from 2022

Benchmarks

See 5,703 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,703 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$20.41M

Not enough data

1 years with asset history on file

Average account balance

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

$121K

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.

169

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.

77.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$901K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+13.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$649

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
WITHUMSMITH+BROWN, PC6 years Service code 10 5 VAUGHN DRIVE · PRINCETON, NJ 08540	Accounting	$25,684
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$21,059
AB FUNDS4 years Filed as: ALLIANCEBERNSTEIN LP Service code 27 501 COMMERCE ST · NASHVILLE, TN 37302	Advisory (Plan)	$20,862
RAHL & ASSOCIATES PC7 years Service code 10 141 FRIENDS LANE STE 100 · NEWTOWN, PA 18940	Accounting	$19,240

Plan features & details

Pension benefit codes2E2F2G2J2K2T3B3D

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.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

$86K

$859 / participant

Recordkeeping$21K24.5%
Investment mgmt$20K23.2%
Other / not subdivided$45K52.3%

% of EOY assets

0.441%

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: WITHUM
Auditor EIN: 222027092
Audit fees: $44,924
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$115,885

$61,391+88.8%

$149,723-22.6%

$71,529+62.0%

Participation rate

84.0%

62.5%+21.5pp

78.8%+5.2pp

67.9%+16.1pp

Annual return

16.15%

35.88%-19.7pp

134.50%-118.4pp

28.97%-12.8pp

Employer contribution / active EE

$3,213

$2,384+34.8%

$4,821-33.4%

$2,590+24.1%

Participant deferral / active EE

$5,910

$2,921+102.3%

$5,682+4.0%

$4,291+37.7%

Admin fee / account holder

$511

$1,264-59.5%

$13,215-96.1%

$1,588-67.8%

Provider

Service type

Compensation

WITHUMSMITH+BROWN, PC6 years

Service code 10

5 VAUGHN DRIVE · PRINCETON, NJ 08540

Accounting

$25,684

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$21,059

AB FUNDS4 years

Filed as: ALLIANCEBERNSTEIN LP

Service code 27

501 COMMERCE ST · NASHVILLE, TN 37302

Advisory (Plan)

$20,862

RAHL & ASSOCIATES PC7 years

Service code 10

141 FRIENDS LANE STE 100 · NEWTOWN, PA 18940

Accounting

$19,240

HAMILTON CARDIOLOGY ASSOCIATES, P.A. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HAMILTON CARDIOLOGY ASSOCIATES, P.A. 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