Retirement plan

PINNACLE EMPLOYEE SERVICES, LLC 401(K) AND PROFIT SHARING PLAN

Name: PINNACLE EMPLOYEE SERVICES, LLC - PINNACLE EMPLOYEE SERVICES, LLC 401(K) AND PROFIT SHARING PLAN (2023) Form 5500
Creator: PINNACLE EMPLOYEE SERVICES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PINNACLE EMPLOYEE SERVICES, LLC 401(K) AND PROFIT SHARING PLAN, PINNACLE EMPLOYEE SERVICES, LLC

PINNACLE EMPLOYEE SERVICES, LLCEIN 47-1368882Plan #333PY 2023

5845 WIDEWATERS PARKWAY - EAST SYRACUSE, NY 13057315-251-1101LinkedIn11-50 employeeshuman resources

Prospect flagsLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$25.8M

+67.6% from 2022

Total participants

2,165

+76.2% from 2022

Average account balance

$31,802

+21.8% from 2022

Annual return

54.42%

+111.58 pp from 2022

Benchmarks

See 353 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort353 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$34.94M

Not enough data

1 years with asset history on file

Average account balance

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

$39K

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.

888

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.

28.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.64M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+27.96%

Not enough data

1 years with return on file

Admin fee / account holder

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

$91

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 2 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS7 years Filed as: TRANSAMERICA FINANCIAL LIFE INS CO Service code 15 · EIN 36-6071399	Recordkeeping	$54,062
BONADIO & CO., LLP1 year Filed as: BONADIO & CO. CPA'S LLP Service code 10 · EIN 16-1131146	Accounting	$19,200

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D2V

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$73K

$37 / participant

Recordkeeping$54K73.8%
Other / not subdivided$19K26.2%

% of EOY assets

0.284%

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: BONADIO & CO., LLP
Auditor EIN: 161131146
Audit fees: $19,200
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$31,802

$40,278-21.0%

$80,627-60.6%

$80,157-60.3%

Participation rate

31.6%

47.5%-16.0pp

67.0%-35.5pp

72.9%-41.4pp

Annual return

54.42%

50.86%+3.6pp

936.76%-882.3pp

40.39%+14.0pp

Employer contribution / active EE

$478

$1,332-64.2%

$2,723-82.5%

$2,977-84.0%

Participant deferral / active EE

$1,286

$2,696-52.3%

$4,443-71.1%

$5,015-74.4%

Admin fee / account holder

$90

$210-57.1%

$5,381-98.3%

$145-37.8%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS7 years

Filed as: TRANSAMERICA FINANCIAL LIFE INS CO

Service code 15 · EIN 36-6071399

Recordkeeping

$54,062

BONADIO & CO., LLP1 year

Filed as: BONADIO & CO. CPA'S LLP

Service code 10 · EIN 16-1131146

Accounting

$19,200

PINNACLE EMPLOYEE SERVICES, LLC 401(K) AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PINNACLE EMPLOYEE SERVICES, LLC 401(K) 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