Retirement plan

SAFE-HARBOR 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF PLATINUM MAINTENANCE SERVICES CORP.

Name: PLATINUM MAINTENANCE SERVICES CORP. - SAFE-HARBOR 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF PLATINUM MAINTENANCE SERVICES CORP. (2024) Form 5500
Creator: PLATINUM MAINTENANCE SERVICES CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SAFE-HARBOR 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF PLATINUM MAINTENANCE SERVICES CORP., PLATINUM MAINTENANCE SERVICES CORP.

PLATINUM MAINTENANCE SERVICES CORP.EIN 11-3368874Plan #001PY 2024

120 BROADWAY FL 36 - NEW YORK, NY 102713600212-535-9700LinkedIn11-50 employeesfacilities services

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$4.8M

-6.1% from 2023

Total participants

115

+19.8% from 2023

Average account balance

$76,702

-10.5% from 2023

Annual return

13.85%

-3.70 pp from 2023

Benchmarks

See 3,448 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,448 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$6.20M

Not enough data

1 years with asset history on file

Average account balance

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

$102K

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.

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.

47.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$710K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+20.74%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5731

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

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2F2G2T3D3H

Plan features

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$1.7M

$16111 / participant

Other / not subdivided$2M100.0%

% of EOY assets

35.009%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$76,702

$80,731-5.0%

$103,378-25.8%

$74,400+3.1%

Participation rate

50.5%

65.7%-15.2pp

74.5%-24.0pp

67.2%-16.7pp

Annual return

13.85%

27.56%-13.7pp

24.91%-11.1pp

1367.51%-1353.7pp

Employer contribution / active EE

$2,209

$3,159-30.1%

$3,870-42.9%

$2,624-15.8%

Participant deferral / active EE

$4,133

$3,862+7.0%

$5,058-18.3%

$4,348-5.0%

Admin fee / account holder

$26,852

$2,369+1033.3%

$8,401+219.6%

$1,944+1281.6%

SAFE-HARBOR 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF PLATINUM MAINTENANCE SERVICES CORP.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SAFE-HARBOR 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF PLATINUM MAINTENANCE SERVICES CORP.

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