New York › Health care and social assistance › 500 to 999 participants
Form 5500 statement · plan year 28 Feb 2024 to 31 Dec 2024
603 Healthcare 401(k) Plan
Sponsored by 603 Healthcare LLC, Brooklyn, NY
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
603 Healthcare LLC of Brooklyn, New York sponsors 603 Healthcare 401(k) Plan, a 401(k) plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 507 participants (471 active) and $490K in net assets.
Net assets came to $966 per participant, well below the $46,267 median for defined contribution plans with 500 to 999 participants and well below the $30,764 median for defined contribution plans in health care and social assistance. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
Schedule C lists 5 service provider organisations paid $5,000 or more, with reported compensation of $9,709: $19.15 per participant, well below the same-size median of $113. Administrative expenses charged to the plan were $9,996. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $966 | $46,267 | $30,764 | $53,102 |
| Employer contributions per active participant | — | $1,934 | $1,536 | $2,175 |
| Schedule C compensation per participant | $19.15 | $113 | $93.85 | $123 |
| Schedule C compensation, share of net assets | 2.0% | 0.25% | 0.31% | 0.26% |
| Administrative expenses per participant | $19.72 | $109 | $86.53 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 500 to 999 participants (10,588 plans), health care and social assistance (9,402) and all US plans (63,460). Fee medians cover plans that report an amount.
Statement for the year
- Net assets, beginning of year$0
- Employer contributions—
- Participant contributions$256,824
- Rollovers and other contributions$249,805
- Total contributions$506,629
- Total income, including investment results$500,490
- Benefits paid$843
- Administrative expenses$9,996
- Total expenses$10,839
- Net income$489,651
- Net transfers$0
- Net assets, end of year$489,651
Participants
- Active participants471
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits36
- Participants with account balances447
- Total participants, end of year507
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Futureplan Fiduciary Services, LLC | Recordkeeping and information management; Participant loan processing | $6,560 | $0 |
| Transamerica Retirement Solutions, | Recordkeeping and information management; Participant loan processing | $2,882 | $0 |
| Park Avenue Securities | Investment advisory (plan) | $231 | $0 |
| Rpa Financial LLC | Investment advisory (plan) | $23 | $0 |
| Transamerica Trust Company | Trustee (bank, trust company, or similar financial institution) | $13 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Contract administrator fees$9,996
- Total administrative expenses$9,996
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Registered investment companies (mutual funds)$471K · 96.3%
- Receivables$18K · 3.7%
- Common/collective trusts$270 · 0.1%
- Cash (interest and non-interest bearing)$20 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $10,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2JCode section 401(k) feature2FERISA section 404(c) plan2GTotal participant-directed account plan3DPre-approved pension plan2KCode section 401(m) arrangement2S401(k) plan or 403(b) plan that provides for automatic enrollment3BPlan covering self-employed individuals3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 623000: Nursing & Residential Care Facilities.
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| 403(b) Thrift Plan for Employees of Urban Pathways, Inc. | Urban Pathways, Inc. | 509 | $8.5M | $16,725 |
| Sanctuary for Families 403(b) Plan | Sanctuary for Families, Inc. | 507 | $21.0M | $41,426 |
| The Long Island Home 401(k) Plan | Northwell Health Inc. | 510 | $58.1M | $113,917 |
| Wesley Health Care Center, Inc. 401(k) Savings Plan | Wesley Health Care Center, Inc. | 502 | $13.2M | $26,221 |
| New View Alliance Savings Plan | New View Alliance | 511 | $10.8M | $21,104 |
| Rescue Mission 401(k) Retirement Benefit Plan | Rescue Mission Alliance of Syracuse, NY | 495 | $6.2M | $12,495 |
Defined contribution plans in health care and social assistance closest in size.
Questions and answers
How big is 603 Healthcare 401(k) Plan?
507 participants at the end of the plan year ending 31 Dec 2024, of whom 471 were active employees, with net assets of $489,651. Among defined contribution plans that places it in the 500 to 999 participants band, which held 10,588 plans in plan year 2024.
What does 603 Healthcare LLC contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports $9,709 in compensation to service provider organisations, $19.15 per participant or 2.0% of net assets. The same-size median among plans reporting any Schedule C compensation was $113 per participant. Administrative expenses on Schedule H were $9,996. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is 603 Healthcare LLC. Recordkeeping or administration: Futureplan Fiduciary Services, LLC and Transamerica Retirement Solutions,. Investment advisory or management: Park Avenue Securities and Rpa Financial LLC. Trustee or custodian: Transamerica Trust Company. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 28 Feb 2024 to 31 Dec 2024, received by the Department of Labor on 30 Dec 2025. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 99-1615650, plan 001, received 30 Dec 2025; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.