Retirement plan

MDS OF NY CORP. 401(K) P/S PLAN

Name: MDS OF NY CORP. - MDS OF NY CORP. 401(K) P/S PLAN (2023) Form 5500
Creator: MDS OF NY CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MDS OF NY CORP. 401(K) P/S PLAN, MDS OF NY CORP.

MDS OF NY CORP.EIN 46-1391561Plan #001PY 2023

25 HYATT STREET, STE. 301 - STATEN ISLAND, NY 10301718-815-0707LinkedIn11-50 employeesinformation services

Prospect flagsHigh feesLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$3.1M

+54.3% from 2022

Total participants

-10.6% from 2022

Average account balance

$96,238

+44.6% from 2022

Annual return

41.47%

+56.40 pp from 2022

Benchmarks

See 3,174 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants25-99

Cohort3,174 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.68M

Not enough data

1 years with asset history on file

Average account balance

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

$111K

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.

66.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$265K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+11.45%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1253

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 codes2E2F2G2J2T3D

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.
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

3 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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$23K

$434 / participant

Other / not subdivided$23K100.0%

% of EOY assets

0.748%

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

$96,238

$68,412+40.7%

$94,679+1.6%

$75,181+28.0%

Participation rate

49.1%

76.1%-27.0pp

80.8%-31.8pp

67.2%-18.1pp

Annual return

41.47%

616.91%-575.4pp

156.75%-115.3pp

160.69%-119.2pp

Employer contribution / active EE

$1,896

$2,701-29.8%

$3,673-48.4%

$2,671-29.0%

Participant deferral / active EE

$2,997

$6,537-54.2%

$7,417-59.6%

$4,126-27.4%

Admin fee / account holder

$720

$5,326-86.5%

$7,233-90.1%

$5,650-87.3%

MDS OF NY CORP. 401(K) P/S PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MDS OF NY CORP. 401(K) P/S 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