Retirement plan

PHYSICIAN AFFILIATE GROUP OF NEW YORK RETIREMENT PLAN

Name: PHYSICIAN AFFILIATE GROUP OF NEW YORK - PHYSICIAN AFFILIATE GROUP OF NEW YORK RETIREMENT PLAN (2018) Form 5500
Creator: PHYSICIAN AFFILIATE GROUP OF NEW YORK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PHYSICIAN AFFILIATE GROUP OF NEW YORK RETIREMENT PLAN, PHYSICIAN AFFILIATE GROUP OF NEW YORK

PHYSICIAN AFFILIATE GROUP OF NEW YORKEIN 90-0603487Plan #002PY 2018

55 W 125TH ST SUITE 1001 - NEW YORK, NY 100274516646-672-3651pagny.orgLinkedIn1001-5000 employeeshospital & health care

Prospect flagsLow returnsHigh cashLow participationHigh assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$610M

-17.3% from 2017

Total participants

4,369

-0.9% from 2017

Average account balance

$502,490

-14.4% from 2017

Annual return

-6.22%

-10.84 pp from 2017

Benchmarks

See 1,316 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,316 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.26B

Not enough data

1 years with asset history on file

Average account balance

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

$276K

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.

4,585

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.

90.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$92.50M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$26K

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

+14.59%

Not enough data

1 years with return on file

Admin fee / account holder

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

$141

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
MERCER1 year Service code 28 · EIN 61-0736136	Investment Management	$242,822
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290	Contract Administrator	$55,293
COHN REZNICK LLP1 year Service code 10 · EIN 22-1478099	Accounting	$12,480

Plan features & details

Pension benefit codes2E2G2J2K2S2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.

Opportunity flags

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$27K

$8 / participant

Contract admin$27K100.0%

% of EOY assets

0.004%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: COHNREZNICK LLP
Auditor EIN: 221478099
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$502,490

$45,382+1007.3%

$154,110+226.1%

$75,289+567.4%

Participation rate

11.3%

65.9%-54.6pp

83.0%-71.7pp

72.4%-61.1pp

Annual return

-6.22%

-0.47%-5.8pp

735.22%-741.4pp

-0.04%-6.2pp

Employer contribution / active EE

$3,639

$1,533+137.4%

$5,298-31.3%

$2,405+51.3%

Participant deferral / active EE

$3,478

$2,384+45.9%

$5,081-31.5%

$3,739-7.0%

Admin fee / account holder

$22

$89-75.3%

$13,412-99.8%

$102-78.5%

Provider

Service type

Compensation

MERCER1 year

Service code 28 · EIN 61-0736136

Investment Management

$242,822

PRINCIPAL LIFE INSURANCE COMPANY3+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$55,293

COHN REZNICK LLP1 year

Service code 10 · EIN 22-1478099

Accounting

$12,480

PHYSICIAN AFFILIATE GROUP OF NEW YORK RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PHYSICIAN AFFILIATE GROUP OF NEW YORK RETIREMENT 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