Retirement plan

HEALTHCARE MANAGEMENT CONSULTANTS, LLC, 401K PLAN

Name: HEALTHCARE MANAGEMENT CONSULTANTS, LLC - HEALTHCARE MANAGEMENT CONSULTANTS, LLC, 401K PLAN (2023) Form 5500
Creator: HEALTHCARE MANAGEMENT CONSULTANTS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HEALTHCARE MANAGEMENT CONSULTANTS, LLC, 401K PLAN, HEALTHCARE MANAGEMENT CONSULTANTS, LLC

HEALTHCARE MANAGEMENT CONSULTANTS, LLCEIN 81-2820844Plan #001PY 2023

393 OLD COUNTRY RD SECOND FLOOR - CARLE PLACE, NY 11514915-531-8447

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.4M

+22.2% from 2022

Total participants

-13.7% from 2022

Average account balance

$40,106

+39.6% from 2022

Annual return

15.19%

+32.32 pp from 2022

Benchmarks

See 20,801 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort20,801 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.96M

Not enough data

1 years with asset history on file

Average account balance

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

$59K

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.

75.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$159K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+13.64%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3841

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

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

$77K

$2146 / participant

Other / not subdivided$77K100.0%

% of EOY assets

5.503%

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

$40,106

$77,908-48.5%

$149,696-73.2%

$75,173-46.6%

Participation rate

75.0%

65.6%+9.4pp

78.8%-3.8pp

67.2%+7.8pp

Annual return

15.19%

31.73%-16.5pp

134.46%-119.3pp

160.72%-145.5pp

Employer contribution / active EE

$3,138-100.0%

$4,821-100.0%

$2,671-100.0%

Participant deferral / active EE

$4,163

$3,411+22.0%

$5,682-26.7%

$4,126+0.9%

Admin fee / account holder

$2,207

$5,950-62.9%

$13,212-83.3%

$5,651-60.9%

HEALTHCARE MANAGEMENT CONSULTANTS, LLC, 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HEALTHCARE MANAGEMENT CONSULTANTS, LLC, 401K 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