Retirement plan

PSI ASSOCIATES, INC. 401(K) EMPLOYEES' RETIREMENT PLAN AND TRUST

Name: PSI ASSOCIATES, INC. - PSI ASSOCIATES, INC. 401(K) EMPLOYEES' RETIREMENT PLAN AND TRUST (2022) Form 5500
Creator: PSI ASSOCIATES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PSI ASSOCIATES, INC. 401(K) EMPLOYEES' RETIREMENT PLAN AND TRUST, PSI ASSOCIATES, INC.

PSI ASSOCIATES, INC.EIN 34-1228404Plan #001PY 2022

P. O. BOX 468 - TWINSBURG, OH 44087216-650-6950

Prospect flagsHigh feesLow participationLow employer contribution

How to read this page

Total assets (EOY)

$4.6M

-11.9% from 2021

Total participants

193

-70.1% from 2021

Average account balance

$32,201

-16.2% from 2021

Annual return

-16.78%

-33.78 pp from 2021

Benchmarks

See 5,349 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,349 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.77M

Not enough data

1 years with asset history on file

Average account balance

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

$15K

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.

119

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.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$197K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+15.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$219

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

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL7+ years Service code 60 · EIN 04-2647786	Sub-TA Fees	$28,819
MARCUM LLP2 years Filed as: MARCUM WEALTH MANAGEMENT GROUP LLC Service code 27 · EIN 20-2317470	Advisory (Plan)	$15,576

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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.)

Expense breakdown

Schedule H Part II

Admin total

$44K

$310 / participant

Other / not subdivided$44K100.0%

% of EOY assets

0.964%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MALONEY & NOVOTNY LLC
Auditor EIN: 340677006
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$32,201

$65,092-50.5%

$143,799-77.6%

$66,938-51.9%

Participation rate

65.0%

65.2%-0.2pp

80.3%-15.3pp

69.8%-4.8pp

Annual return

-16.78%

-11.14%-5.6pp

-0.04%-16.7pp

1.58%-18.4pp

Employer contribution / active EE

$18

$2,362-99.3%

$4,952-99.6%

$2,545-99.3%

Participant deferral / active EE

$2,894

$2,920-0.9%

$5,638-48.7%

$4,238-31.7%

Admin fee / account holder

$310

$502-38.2%

$14,677-97.9%

$594-47.7%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL7+ years

Service code 60 · EIN 04-2647786

Sub-TA Fees

$28,819

MARCUM LLP2 years

Filed as: MARCUM WEALTH MANAGEMENT GROUP LLC

Service code 27 · EIN 20-2317470

Advisory (Plan)

$15,576

PSI ASSOCIATES, INC. 401(K) EMPLOYEES' RETIREMENT PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PSI ASSOCIATES, INC. 401(K) EMPLOYEES' RETIREMENT PLAN AND TRUST

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