Plan Snapshot
- Plan Sponsor: Garnet Health Medical Center
- Sponsor EIN: 844567449
- Sponsor Address: 707 EAST MAIN STREET, MIDDLETOWN, NY, 109404133
- Plan Type: DB
- Total Participants: 56
- Total Assets: $80.5M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 56 | $80.5M | $873,510 | $0 |
| 2023 | 64 | $87.5M | $502,841 | $0 |
| 2022 | 84 | $88.5M | $0 | $0 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $222,191 | — | $222,191 |
| THE HAGWOOD TOMODA GROUP | INVESTMENT ADVISORY | $91,870 | — | $91,870 |
| RBT CPA'S | ACCOUNTANT | $14,500 | — | $14,500 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $328,561
- Estimated Expense Ratio: 0.408% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $874,024 | $91,870 | $222,191 | $14,500 | — |
| 2023 | $1,782,958 | $35,561 | $185,285 | $14,500 | — |
| 2022 | $1,347,344 | $97,554 | $177,034 | — | $14,500 |