Retirement plan

PURVIS SYSTEMS, INC. RETIREMENT PLAN

Name: PURVIS SYSTEMS INC - PURVIS SYSTEMS, INC. RETIREMENT PLAN (2024) Form 5500
Creator: PURVIS SYSTEMS INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PURVIS SYSTEMS, INC. RETIREMENT PLAN, PURVIS SYSTEMS INC

PURVIS SYSTEMS INCEIN 11-2299301Plan #002PY 2024

88 SILVA LANE - MIDDLETOWN, RI 028427634401-849-4750purvis.comLinkedIn51-200 employeesinformation technology and services

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$25.8M

+8.6% from 2023

Total participants

291

+27.6% from 2023

Average account balance

$89,569

-15.5% from 2023

Annual return

12.73%

+8.58 pp from 2023

Benchmarks

See 6,297 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,297 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$28.78M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$89K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

323

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

98.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.58M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+9.02%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$313

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
OSAIC WEALTH INC1 year Service code 27 10 EXCHANGE PLACE STE 1410 · JERSEY CITY, NJ 07302	Advisory (Plan)	$28,186
PENTEGRA SERVICES, INC.2 years Filed as: PENTEGRA SERVICES INC Service code 13 5350 77 CENTER DR STE 200 · CHARLOTTE, NC 28217	Contract Administrator	$26,793
SANSIVERI, KIMBALL & CO., L.L.P1 year Filed as: SANSIVERI KIMBALL & CO LLP Service code 10 50 HOLDEN ST · PROVIDENCE, RI 02908	Accounting	$18,500
FLEXPATH STRATEGIES, LLC2 years Filed as: FLEXPATH STRATEGIES LLC Service code 99 120 VANTIS STE400 · ALISO VIEJO, CA 92656	Other Fees	$11,746
GREATER NEWPORT CHAMBER OF COMMERCE1 year Service code 99 513 BROADWAY · NEWPORT, RI 02840	Other Fees	$1,345
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$90K

$400 / participant

Investment mgmt$28K31.3%
Contract admin$27K29.8%
Other / not subdivided$35K38.9%

% of EOY assets

0.349%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: SANSIVERI, KIMBALL & CO., LLP
Auditor EIN: 502557779
Audit fees: $18,500
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$89,569

$101,317-11.6%

$146,958-39.1%

$74,495+20.2%

Participation rate

98.7%

75.5%+23.1pp

82.2%+16.5pp

67.2%+31.5pp

Annual return

12.73%

8730.91%-8718.2pp

418.34%-405.6pp

1364.94%-1352.2pp

Employer contribution / active EE

$2,437

$3,810-36.0%

$4,933-50.6%

$2,623-7.1%

Participant deferral / active EE

$7,933

$7,303+8.6%

$8,070-1.7%

$4,346+82.6%

Admin fee / account holder

$313

$1,739-82.0%

$12,998-97.6%

$1,942-83.9%

Provider

Service type

Compensation

OSAIC WEALTH INC1 year

Service code 27

10 EXCHANGE PLACE STE 1410 · JERSEY CITY, NJ 07302

Advisory (Plan)

$28,186

PENTEGRA SERVICES, INC.2 years

Filed as: PENTEGRA SERVICES INC

Service code 13

5350 77 CENTER DR STE 200 · CHARLOTTE, NC 28217

Contract Administrator

$26,793

SANSIVERI, KIMBALL & CO., L.L.P1 year

Filed as: SANSIVERI KIMBALL & CO LLP

Service code 10

50 HOLDEN ST · PROVIDENCE, RI 02908

Accounting

$18,500

FLEXPATH STRATEGIES, LLC2 years

Filed as: FLEXPATH STRATEGIES LLC

Service code 99

120 VANTIS STE400 · ALISO VIEJO, CA 92656

Other Fees

$11,746

GREATER NEWPORT CHAMBER OF COMMERCE1 year

Service code 99

513 BROADWAY · NEWPORT, RI 02840

Other Fees

$1,345

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

PURVIS SYSTEMS, INC. RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PURVIS SYSTEMS, INC. RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion