Retirement plan

CANON MEDICAL SYSTEMS USA, INC. 401(K) SAVINGS PLAN

Name: CANON MEDICAL SYSTEMS USA, INC. - CANON MEDICAL SYSTEMS USA, INC. 401(K) SAVINGS PLAN (2022) Form 5500
Creator: CANON MEDICAL SYSTEMS USA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CANON MEDICAL SYSTEMS USA, INC. 401(K) SAVINGS PLAN, CANON MEDICAL SYSTEMS USA, INC.

CANON MEDICAL SYSTEMS USA, INC.EIN 68-0178440Plan #001PY 2022

2441 MICHELLE DRIVE - TUSTIN, CA 92780714-669-2412LinkedIn1001-5000 employeesmedical devices

Prospect flagsLow returnsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$395.3M

-15.3% from 2017

Total participants

1,420

+25.5% from 2017

Average account balance

$283,137

-33.2% from 2017

Annual return

-17.35%

-18.35 pp from 2017

Benchmarks

See 900 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort900 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$507.68M

Not enough data

1 years with asset history on file

Average account balance

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

$327K

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.

1,553

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.

96.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$30.21M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$23K

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

+16.34%

Not enough data

1 years with return on file

Admin fee / account holder

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

$400

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 5 by compensation

Provider	Service type	Compensation
MERCER7+ years Service code 16 PO BOX 13793 · DALLAS, TX 75373	Consulting	$149,551
GROOM LAW GROUP6 years Filed as: GROOM LAW GROUP, CHARTERED Service code 29 PO BOX 2598 · RINCON, GA 31326	Legal	$101,493
T ROWE PRICE RPS INC7+ years Service code 15 100 EAST PRATT STREET · BALTIMORE, MD 21202	Recordkeeping	$90,033
MORNINGSTAR7+ years Service code 26 22 WEST WASHINGTON STREET · CHICAGO, IL 60602	Advisory (Participants)	$36,672
MILLER KAPLAN ARASE LLP5 years Filed as: MILLER, KAPLAN, ARASE & CO., LLP Service code 10 4123 LANDERSHIM BLVD · NORTH HOLLYWOOD, CA 91602	Accounting	$11,224

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3F3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
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

$649K

$541 / participant

Investment mgmt$37K5.7%
Other / not subdivided$612K94.3%

% of EOY assets

0.164%

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: MILLER KAPLAN ARASE LLP
Auditor EIN: 952036255
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$283,137

$95,388+196.8%

$125,401+125.8%

$77,906+263.4%

Participation rate

98.0%

78.6%+19.4pp

82.4%+15.6pp

73.7%+24.3pp

Annual return

-17.35%

116.19%-133.5pp

572.53%-589.9pp

12.16%-29.5pp

Employer contribution / active EE

$6,134

$3,666+67.3%

$4,816+27.4%

$2,846+115.5%

Participant deferral / active EE

$17,181

$7,711+122.8%

$7,448+130.7%

$4,805+257.5%

Admin fee / account holder

$465

$119+291.2%

$10,008-95.4%

$133+250.7%

Provider

Service type

Compensation

MERCER7+ years

Service code 16

PO BOX 13793 · DALLAS, TX 75373

Consulting

$149,551

GROOM LAW GROUP6 years

Filed as: GROOM LAW GROUP, CHARTERED

Service code 29

PO BOX 2598 · RINCON, GA 31326

Legal

$101,493

T ROWE PRICE RPS INC7+ years

Service code 15

100 EAST PRATT STREET · BALTIMORE, MD 21202

Recordkeeping

$90,033

MORNINGSTAR7+ years

Service code 26

22 WEST WASHINGTON STREET · CHICAGO, IL 60602

Advisory (Participants)

$36,672

MILLER KAPLAN ARASE LLP5 years

Filed as: MILLER, KAPLAN, ARASE & CO., LLP

Service code 10

4123 LANDERSHIM BLVD · NORTH HOLLYWOOD, CA 91602

Accounting

$11,224

CANON MEDICAL SYSTEMS USA, INC. 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CANON MEDICAL SYSTEMS USA, INC. 401(K) SAVINGS 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