Retirement plan

MEDVANTAGE, INC. 401(K) PROFIT SHARING PLAN

Name: MEDVANTAGE, INC. - MEDVANTAGE, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: MEDVANTAGE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MEDVANTAGE, INC. 401(K) PROFIT SHARING PLAN, MEDVANTAGE, INC.

MEDVANTAGE, INC.EIN 59-3443389Plan #001PY 2024

230 WEST PASSAIC STREET - MAYWOOD, NJ 07607medvantage.orgLinkedIn11-50 employeesmedical devices

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$808K

+22.9% from 2023

Total participants

+15.0% from 2023

Average account balance

$42,531

+3.5% from 2023

Annual return

15.07%

-0.06 pp from 2023

Benchmarks

See 23,915 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,915 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$808K

Not enough data

1 years with asset history on file

Average account balance

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

$43K

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.

111.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$170K

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

+15.07%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6445

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 codes2E2F2G2J3D

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.
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

$122K

$7204 / participant

Other / not subdivided$122K100.0%

% of EOY assets

15.155%

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

$42,531

$166,089-74.4%

$164,928-74.2%

$145,978-70.9%

Participation rate

76.5%

82.0%-5.5pp

78.6%-2.1pp

80.3%-3.8pp

Annual return

15.07%

100.26%-85.2pp

70.08%-55.0pp

550.52%-535.4pp

Employer contribution / active EE

$2,863

$5,276-45.7%

$4,343-34.1%

$4,662-38.6%

Participant deferral / active EE

$7,149

$6,961+2.7%

$6,034+18.5%

$6,690+6.9%

Admin fee / account holder

$6,445

$16,641-61.3%

$12,684-49.2%

$13,400-51.9%

MEDVANTAGE, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MEDVANTAGE, INC. 401(K) PROFIT SHARING 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