Retirement plan

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF CLEVELAND PSYCHOSOCIAL SERVICES, INC.

Name: CLEVELAND PSYCHOSOCIAL SERVICE - 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF CLEVELAND PSYCHOSOCIAL SERVICES, INC. (2024) Form 5500
Creator: CLEVELAND PSYCHOSOCIAL SERVICE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF CLEVELAND PSYCHOSOCIAL SERVICES, INC., CLEVELAND PSYCHOSOCIAL SERVICE

CLEVELAND PSYCHOSOCIAL SERVICEEIN 56-1526107Plan #003PY 2024

924 N LAFAYETTE ST - SHELBY, NC 281503833704-482-3370LinkedIn11-50 employeeshospital & health care

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$723K

-6.4% from 2023

Total participants

+8.7% from 2023

Average account balance

$31,447

-14.5% from 2023

Annual return

9.38%

+1.01 pp from 2023

Benchmarks

See 109,389 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,389 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$723K

Not enough data

1 years with asset history on file

Average account balance

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

$31K

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.

176.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$53K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+9.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$7641

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 codes2G3D2J2E2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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

OpportunityLow participant contribution
Participant 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

$176K

$13520 / participant

Other / not subdivided$176K100.0%

% of EOY assets

24.299%

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

$31,447

$183,592-82.9%

$155,574-79.8%

$145,877-78.4%

Participation rate

84.6%

82.7%+1.9pp

78.2%+6.4pp

80.3%+4.3pp

Annual return

9.38%

61.37%-52.0pp

64.87%-55.5pp

551.28%-541.9pp

Employer contribution / active EE

$2,344

$5,317-55.9%

$4,676-49.9%

$4,663-49.7%

Participant deferral / active EE

$1,748

$6,466-73.0%

$5,629-68.9%

$6,691-73.9%

Admin fee / account holder

$7,641

$19,316-60.4%

$15,914-52.0%

$13,402-43.0%

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF CLEVELAND PSYCHOSOCIAL SERVICES, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF CLEVELAND PSYCHOSOCIAL SERVICES, INC.

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