Retirement plan

BERGEN SURGICAL SPECIALISTS PA 401(K) PROFIT SHARING PLAN & TRUST

Name: BERGEN SURGICAL SPECIALISTS PA - BERGEN SURGICAL SPECIALISTS PA 401(K) PROFIT SHARING PLAN & TRUST (2024) Form 5500
Creator: BERGEN SURGICAL SPECIALISTS PA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BERGEN SURGICAL SPECIALISTS PA 401(K) PROFIT SHARING PLAN & TRUST, BERGEN SURGICAL SPECIALISTS PA

BERGEN SURGICAL SPECIALISTS PAEIN 36-4533513Plan #001PY 2024

211 ESSEX STREET, SUITE 102 - HACKENSACK, NJ 07601201-487-8882bergensurgicalspecialistspa.comLinkedIn1-10 employeesmedical practice

Prospect flagsLow returnsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$4.7M

-35.4% from 2023

Total participants

-8.3% from 2023

Average account balance

$472,508

-29.0% from 2023

Annual return

7.77%

-4.01 pp from 2023

Benchmarks

See 109,631 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,631 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.73M

Not enough data

1 years with asset history on file

Average account balance

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

$473K

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.

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.

142.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$45K

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

+7.77%

Not enough data

1 years with return on file

Admin fee / account holder

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

$320509

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

0 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 codes2E2F2G2J2R3D3H

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$3.2M

$457870 / participant

Other / not subdivided$3M100.0%

% of EOY assets

67.831%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$472,508

$183,592+157.4%

$155,567+203.7%

$145,959+223.7%

Participation rate

85.7%

82.7%+3.0pp

78.2%+7.5pp

80.3%+5.4pp

Annual return

7.77%

61.24%-53.5pp

64.74%-57.0pp

561.95%-554.2pp

Employer contribution / active EE

$6,360

$5,315+19.7%

$4,674+36.1%

$4,661+36.5%

Participant deferral / active EE

$6,464-100.0%

$5,628-100.0%

$6,689-100.0%

Admin fee / account holder

$320,509

$19,318+1559.1%

$15,916+1913.7%

$13,398+2292.2%

BERGEN SURGICAL SPECIALISTS PA 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BERGEN SURGICAL SPECIALISTS PA 401(K) PROFIT SHARING PLAN & TRUST

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