Retirement plan

NHCA AND AFFILIATES RETIREMENT AND SAVINGS PLAN

Name: BOARD OF TRUSTEES OF THE NHCA AND AFFILIATES RET AND SAVINGS PLAN - NHCA AND AFFILIATES RETIREMENT AND SAVINGS PLAN (2024) Form 5500
Creator: BOARD OF TRUSTEES OF THE NHCA AND AFFILIATES RET AND SAVINGS PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NHCA AND AFFILIATES RETIREMENT AND SAVINGS PLAN, BOARD OF TRUSTEES OF THE NHCA AND AFFILIATES RET AND SAVINGS PLAN

BOARD OF TRUSTEES OF THE NHCA AND AFFILIATES RET AND SAVINGS PLANEIN 80-0211177Plan #001PY 2024

20 EAST SUNRISE HIGHWAY - VALLEY STREAM, NY 115811260860-263-3800

Prospect flagsLow participationLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$227.7M

+16.0% from 2023

Total participants

12,592

+23.3% from 2023

Average account balance

$48,850

+4.8% from 2023

Annual return

14.75%

-2.97 pp from 2023

Benchmarks

See 275 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants>=10,000

Cohort275 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$227.74M

Not enough data

1 years with asset history on file

Average account balance

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

$49K

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.

4,662

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.

30.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$25.76M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+14.75%

Not enough data

1 years with return on file

Admin fee / account holder

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

$120

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
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290	Contract Administrator	$561,091
SCHULTE ROTH & ZABEL LLP10+ years Service code 29 · EIN 13-2633996	Legal	$111,382
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN STANLEY GLOBAL BANKING OPERA Service code 49 · EIN 20-8764829	Other Services	$50,000
NOVAK FRANCELLA LLC9 years Filed as: NOVAK FRANCELLA CPA Service code 10 · EIN 61-1436956	Accounting	$20,653

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T2U3H

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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$561K

$49 / participant

Contract admin$561K100.0%

% of EOY assets

0.246%

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: BDMP ASSURANCE, LLP
Auditor EIN: 994708358
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$48,850

$73,283-33.3%

$155,534-68.6%

$106,553-54.2%

Participation rate

30.8%

73.3%-42.4pp

78.2%-47.4pp

69.8%-39.0pp

Annual return

14.75%

15.76%-1.0pp

64.92%-50.2pp

17.37%-2.6pp

Employer contribution / active EE

$1,105

$2,241-50.7%

$4,675-76.4%

$3,359-67.1%

Participant deferral / active EE

$1,142

$4,567-75.0%

$5,630-79.7%

$5,562-79.5%

Admin fee / account holder

$120

$56+115.3%

$15,900-99.2%

$80+51.1%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY10+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$561,091

SCHULTE ROTH & ZABEL LLP10+ years

Service code 29 · EIN 13-2633996

Legal

$111,382

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN STANLEY GLOBAL BANKING OPERA

Service code 49 · EIN 20-8764829

Other Services

$50,000

NOVAK FRANCELLA LLC9 years

Filed as: NOVAK FRANCELLA CPA

Service code 10 · EIN 61-1436956

Accounting

$20,653

NHCA AND AFFILIATES RETIREMENT AND SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NHCA AND AFFILIATES RETIREMENT AND 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