Plan Snapshot
- Plan Sponsor: Olean Medical Practice PLLC
- Sponsor EIN: 881324896
- Sponsor Address: 535 MAIN STREET, OLEAN, NY, 14760
- Plan Type: 401(k)
- Plan Number: 002
- Total Participants: 246
- Total Assets: $37.8M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: Yes
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2025 | 246 | $37.8M | $0 | $0 |
| 2024 | 168 | $33.7M | $783,796 | $748,311 |
| 2023 | 161 | $31.6M | $560,034 | $656,618 |
| 2022 | 171 | $30.3M | $510,960 | $606,585 |
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 |
|---|---|---|---|---|
| VOYA RETIREMENT INSURANCE & ANNUITY | Other Service Provider | $132,127 | — | $132,127 |
| VOYA RETIREMENT ADVISORS, LLC | Other Service Provider | $14,262 | — | $14,262 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $146,389
- Estimated Expense Ratio: 0.387% 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 |
|---|---|---|---|---|---|
| 2025 | $2,033,222 | $18,162 | $101,416 | — | — |
| 2024 | $130,981 | $35,199 | $95,082 | — | — |
| 2023 | $132,314 | $32,208 | $86,206 | — | — |
| 2022 | $121,335 | — | — | — | — |