Plan Snapshot
- Plan Sponsor: Orbimed Advisors, L.L.C.
- Sponsor EIN: 133976876
- Sponsor Address: 601 LEXINGTON AVENUE 54TH FLOOR, NEW YORK, NY, 10022
- Plan Type: 401(k)
- Total Participants: 87
- Total Assets: $76.4M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 87 | $76.4M | $2.3M | $2.2M |
| 2023 | 77 | $64.9M | $2.0M | $1.8M |
| 2022 | 67 | $52.8M | $1.6M | $1.5M |
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 |
|---|---|---|---|---|
| EMPOWER LIFE & ANNUITY INSURANCE CO | Recordkeeper | $26,864 | — | $26,864 |
| ERP RETIREMENT SERVICES | Other Service Provider | $800 | $10,000 | $10,800 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $37,664
- Estimated Expense Ratio: 0.049% 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 | $4,182 | — | — | — | — |
| 2023 | $2,051 | — | — | — | — |
| 2022 | $2,956 | — | — | — | — |