Retirement plan

PHYSICIAN AFFILIATE GROUP OF NEW YORK RETIREMENT PLAN

Name: PHYSICIAN AFFILIATE GROUP OF NEW YORK, P.C. (PAGNY) - PHYSICIAN AFFILIATE GROUP OF NEW YORK RETIREMENT PLAN (2023) Form 5500
Creator: PHYSICIAN AFFILIATE GROUP OF NEW YORK, P.C. (PAGNY)
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, P.C. (PAGNY)

PHYSICIAN AFFILIATE GROUP OF NEW YORK, P.C. (PAGNY)EIN 90-0603487Plan #002PY 2023

420 LEXINGTON AVE, SUITE 1750 - NEW YORK, NY 10170646-672-3651pagny.orgLinkedIn1001-5000 employeeshospital & health care

Prospect flagsFailed to transmit contributionsFailed to provide benefitCorrective distributions

How to read this page

Total assets (EOY)

$1085.5M

+20.4% from 2022

Total participants

4,666

+4.2% from 2022

Average account balance

$249,940

+17.6% from 2022

Annual return

16.82%

+32.28 pp from 2022

Benchmarks

See 1,407 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,407 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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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

See the 9-year trajectory. $4.99 for your first month.

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
MERCER4 years Filed as: MERCER INVESTMENTS LLC Service code 16 · EIN 30-0282430	Consulting	$410,767
FIDELITY INVESTMENTS INSTITUTIONAL5 years Service code 37 · EIN 04-2647786	Loan Processing	$261,771

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3H3D2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
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.
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

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$672K

$199 / participant

Recordkeeping$259K38.6%
Contract admin$2K0.2%
Other / not subdivided$411K61.2%

% of EOY assets

0.062%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: COHNREZNICK LLP
Auditor EIN: 221478099
Audit fees: $0
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$249,940

$50,127+398.6%

$149,673+67.0%

$80,160+211.8%

Participation rate

90.4%

64.3%+26.2pp

78.8%+11.7pp

72.9%+17.5pp

Annual return

16.82%

29.82%-13.0pp

134.42%-117.6pp

40.38%-23.6pp

Employer contribution / active EE

$11,874

$1,865+536.8%

$4,818+146.5%

$2,978+298.8%

Participant deferral / active EE

$13,585

$3,194+325.4%

$5,680+139.2%

$5,017+170.8%

Admin fee / account holder

$155

$153+1.3%

$13,210-98.8%

$145+6.7%

Provider

Service type

Compensation

MERCER4 years

Filed as: MERCER INVESTMENTS LLC

Service code 16 · EIN 30-0282430

Consulting

$410,767

FIDELITY INVESTMENTS INSTITUTIONAL5 years

Service code 37 · EIN 04-2647786

Loan Processing

$261,771

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