Retirement plan

THE PSA, INC. EMPLOYEES SALARY REDUCTION AND PROFIT SHARING PLAN

Name: PROFESSIONAL SALES ASSOCIATES - THE PSA, INC. EMPLOYEES SALARY REDUCTION AND PROFIT SHARING PLAN (2024) Form 5500
Creator: PROFESSIONAL SALES ASSOCIATES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE PSA, INC. EMPLOYEES SALARY REDUCTION AND PROFIT SHARING PLAN, PROFESSIONAL SALES ASSOCIATES

PROFESSIONAL SALES ASSOCIATESEIN 22-1903737Plan #001PY 2024

5045 PARK AVENUE WEST, SUITE 1B - SEVILLE, OH 44273330-299-7343profsales.comLinkedIn11-50 employeesmedical devices

Prospect flagsLow returnsHigh feesHigh assets / participantLow employer contribution

How to read this page

Total assets (EOY)

$22.9M

-1.7% from 2023

Total participants

-9.4% from 2023

Average account balance

$787,936

+1.7% from 2023

Annual return

8.66%

+1.31 pp from 2023

Benchmarks

See 23,939 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,939 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$22.85M

Not enough data

1 years with asset history on file

Average account balance

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

$788K

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.

120.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$364K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+8.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

$99037

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 codes3D2E2F2G2J2T

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

4 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$2.9M

$119670 / participant

Other / not subdivided$3M100.0%

% of EOY assets

12.569%

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

$787,936

$166,020+374.6%

$164,866+377.9%

$145,959+439.8%

Participation rate

100.0%

82.0%+18.0pp

78.6%+21.4pp

80.3%+19.7pp

Annual return

8.66%

100.08%-91.4pp

69.97%-61.3pp

561.95%-553.3pp

Employer contribution / active EE

$5,275-100.0%

$4,343-100.0%

$4,661-100.0%

Participant deferral / active EE

$15,150

$6,961+117.6%

$6,033+151.1%

$6,689+126.5%

Admin fee / account holder

$99,037

$16,644+495.0%

$12,689+680.5%

$13,398+639.2%

THE PSA, INC. EMPLOYEES SALARY REDUCTION AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE PSA, INC. EMPLOYEES SALARY REDUCTION AND 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