Plan Ledger DOL Form 5500 · updated monthly

Buffalo Medical Group P.C.401(k)

BUFFALO MEDICAL GROUP, P. C. 401K PROFIT SHARING AND PENSION PLAN · BUFFALO, NY · plan year 2024

Employer contribution per participant · 2024
$6,551

Buffalo Medical Group P.C.'s 2024 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $217,869,270 across 1,183 participant accounts, with employer contributions averaging $6,551 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $50M–$250M size bracket, benchmarked here against 10,352 comparable plans and shown alongside other health care & social assistance employers. By assets it is the 438th-largest of 5,648 plans among New York employers on file, and the 605th of 11,911 in health care & social assistance. In 2024, employees put in $1.13 for every $1.00 the employer contributed.

Plan summary
Net assets, end of year$217,869,270
Participants with balances1,183
Active participants977
Employer contributions$6,400,622
Employee contributions$7,248,726
Employer contribution per active participant$6,551
Average account balance$184,167
Benefits paid to participants$20,104,429
Plan auditUnmodified (clean) audit opinion
AuditorTRONCONI SEGARRA & ASSOCIATES
Plan history3
Yearassets · accounts · employer contribution
2024$217.9M · 1,183 accts · $6.4M emplr
2023$198.9M · 1,441 accts · $5.8M emplr
2022$180.2M · 1,397 accts · $5.6M emplr
Administrative expenses, itemized · 2024
Recordkeeping & contract admin$38,839
Investment management$10,000
Total administrative-$43,111
The Buffalo Medical Group P.C. 401(k) match · 2024
Employer contribution per active participant$6,551
Median for plans this size$3,635
2024$6,551 per active participant
2023$6,093 per active participant
2022$6,211 per active participant

Buffalo Medical Group P.C.'s 2024 employer contribution ran above the $3,635 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

Service providers · 20243
EMPOWER FINANCIAL SERVICES, INC. · Investment advisory (participants) · Securities brokerage$11,668
CADARET GRANT AGENCY INC · Investment advisory (plan)$10,000

Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.

Administrative cost history3
2024Not separately reported
2023$79,977 · 0.04%
2022Not separately reported
Same employer
Similar plansHealth Care & Social Assistance · New York
Samaritan Medical Center NY$209.6M · 0.05%
Careabout Mso, LLC NY$176.9M · 0.08%

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Source: U.S. Department of Labor, Form 5500 series, EIN 161000580 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.