Retirement plan

PEOPLES SERVICES, INC. 401(K) RETIREMENT PLAN

Name: PEOPLES SERVICES, INC. - PEOPLES SERVICES, INC. 401(K) RETIREMENT PLAN (2022) Form 5500
Creator: PEOPLES SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PEOPLES SERVICES, INC. 401(K) RETIREMENT PLAN, PEOPLES SERVICES, INC.

PEOPLES SERVICES, INC.EIN 34-1692443Plan #002PY 2022

P.O. BOX 20109 - CANTON, OH 44701330-453-3709

Other plans on this EIN

1 filing

#001Retirement-$21.2M assets

Prospect flagsLow participationLow employer contribution

How to read this page

Total assets (EOY)

$7.3M

-19.1% from 2021

Total participants

743

+32.7% from 2021

Average account balance

$15,051

-42.6% from 2021

Annual return

-15.26%

-28.64 pp from 2021

Benchmarks

See 105 peers

Peer group

Industry49 - Transportation and Warehousing

Plan typeDefined contribution

Participants250-999

Cohort105 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.44M

Not enough data

1 years with asset history on file

Average account balance

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

$22K

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.

572

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.

39.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.29M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+43.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

$107

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

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE CO OF AME Service code 64 · EIN 42-0127290 8515 EAST ORCHARD RD · GREENWOOD VILLAGE, OH 80111	Recordkeeping Fees	$20,265
VANTAGE FINANCIAL GROUP2 years Service code 27 6200 ROCKSIDE RD · CLEVELAND, OH 44131	Advisory (Plan)	$19,045
DEFINITI LLC2 years Filed as: DEFINITI Service code 13 · EIN 85-0833363 3 HOLLAND ST · ERIE, PA 16507	Contract Administrator	$14,990

Plan features & details

Pension benefit codes2E2F2G2J2K2T3H

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.
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.
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.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$54K

$85 / participant

Contract admin$54K100.0%

% of EOY assets

0.740%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: 415 GROUP
Auditor EIN: 311341400
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$15,051

$28,956-48.0%

$71,755-79.0%

$64,819-76.8%

Participation rate

59.0%

65.2%-6.2pp

62.3%-3.3pp

71.5%-12.5pp

Annual return

-15.26%

-7.39%-7.9pp

9.09%-24.4pp

32.84%-48.1pp

Employer contribution / active EE

$1,159-100.0%

$1,704-100.0%

$2,507-100.0%

Participant deferral / active EE

$1,515

$2,686-43.6%

$2,656-43.0%

$4,311-64.9%

Admin fee / account holder

$111

$124-10.5%

$3,972-97.2%

$188-40.7%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE CO OF AME

Service code 64 · EIN 42-0127290

8515 EAST ORCHARD RD · GREENWOOD VILLAGE, OH 80111

Recordkeeping Fees

$20,265

VANTAGE FINANCIAL GROUP2 years

Service code 27

6200 ROCKSIDE RD · CLEVELAND, OH 44131

Advisory (Plan)

$19,045

DEFINITI LLC2 years

Filed as: DEFINITI

Service code 13 · EIN 85-0833363

3 HOLLAND ST · ERIE, PA 16507

Contract Administrator

$14,990

PEOPLES SERVICES, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PEOPLES SERVICES, INC. 401(K) 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