Retirement plan

PERMANENT SOLUTIONS GROUP. INC. 401(K) PROFIT SHARING PLAN

Name: PERMANENT SOLUTIONS GROUP, INC. - PERMANENT SOLUTIONS GROUP. INC. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: PERMANENT SOLUTIONS GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PERMANENT SOLUTIONS GROUP. INC. 401(K) PROFIT SHARING PLAN, PERMANENT SOLUTIONS GROUP, INC.

PERMANENT SOLUTIONS GROUP, INC.EIN 20-2279807Plan #001PY 2023

PO BOX 1241 - PENFIELD, NY 14526585-678-9707permsol.comLinkedIn1-10 employeesstaffing and recruiting

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.9M

+22.7% from 2022

Total participants

0.0% from 2022

Average account balance

$134,668

+22.7% from 2022

Annual return

18.79%

+37.02 pp from 2022

Benchmarks

See 18,494 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants<25

Cohort18,494 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.82M

Not enough data

1 years with asset history on file

Average account balance

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

$166K

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.

275.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$27K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+18.22%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12872

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 codes2E2F2G2J2T3D

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.
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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$48K

$7936 / participant

Other / not subdivided$48K100.0%

% of EOY assets

2.525%

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

$134,668

$96,361+39.8%

$80,607+67.1%

$139,456-3.4%

Participation rate

100.0%

73.6%+26.4pp

67.0%+33.0pp

80.3%+19.7pp

Annual return

18.79%

1350.95%-1332.2pp

936.11%-917.3pp

373.45%-354.7pp

Employer contribution / active EE

$6,050

$3,262+85.4%

$2,724+122.1%

$4,753+27.3%

Participant deferral / active EE

$10,440

$5,232+99.6%

$4,448+134.7%

$6,711+55.6%

Admin fee / account holder

$3,401

$6,601-48.5%

$5,379-36.8%

$11,407-70.2%

PERMANENT SOLUTIONS GROUP. INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PERMANENT SOLUTIONS GROUP. INC. 401(K) PROFIT SHARING 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