Retirement plan

PSYCH ASSOCIATES GROUP LLC 401(K) PROFIT SHARING PLAN

Name: PSYCH ASSOCIATES GROUP LLC - PSYCH ASSOCIATES GROUP LLC 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: PSYCH ASSOCIATES GROUP LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PSYCH ASSOCIATES GROUP LLC 401(K) PROFIT SHARING PLAN, PSYCH ASSOCIATES GROUP LLC

PSYCH ASSOCIATES GROUP LLCEIN 87-1340549Plan #001PY 2024

1954 GREENSPRING DR., SUITE 530 - TIMONIUM, MD 21093410-823-6408

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$6.4M

+41.3% from 2023

Total participants

223

-7.9% from 2023

Average account balance

$30,117

+41.3% from 2023

Annual return

13.75%

-23.40 pp from 2023

Benchmarks

See 5,993 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,993 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.41M

Not enough data

1 years with asset history on file

Average account balance

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

$30K

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.

213

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.

94.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.94M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+13.75%

Not enough data

1 years with return on file

Admin fee / account holder

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

$218

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 6 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY1 year Service code 13 · EIN 42-0127290	Contract Administrator	$27,316
EPIC RETIREMENT PLAN SERVICES1 year Filed as: SFG WEALTH MANAGMENT Service code 99 1104 KENILOWORTH DR STE 500 · TOWSON, MD 21204	Other Fees	$10,530
GLOBAL RETIREMENT PARTNERS LLC1 year Service code 27 · EIN 47-1411118	Advisory (Plan)	$7,890
AMERICAN FUNDS2 years Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI Service code 64 6455 IRVINE CENTER DRIVE · IRVINE, CA 92618	Recordkeeping Fees	$7,758
POLLARD & ASSOCIATES, INC.1 year Filed as: POLLARD & ASSOCIATES INC Service code 13 1 NORTH PARK DRIVE STE 104 · HUNTVALLEY, MD 21030	Contract Administrator	$1,050
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANAGMENT Service code 26 · EIN 36-4317381	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2E2J2F2G2R3D3H

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
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

1 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$47K

$269 / participant

Contract admin$47K100.0%

% of EOY assets

0.725%

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: UHY LLP
Auditor EIN: 200694403
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$30,117

$55,470-45.7%

$155,556-80.6%

$74,478-59.6%

Participation rate

94.2%

61.9%+32.3pp

78.2%+16.0pp

67.2%+27.0pp

Annual return

13.75%

269.80%-256.1pp

64.84%-51.1pp

1370.56%-1356.8pp

Employer contribution / active EE

$3,396

$2,267+49.8%

$4,675-27.4%

$2,626+29.3%

Participant deferral / active EE

$7,843

$2,838+176.4%

$5,631+39.3%

$4,350+80.3%

Admin fee / account holder

$218

$1,744-87.5%

$15,885-98.6%

$1,946-88.8%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY1 year

Service code 13 · EIN 42-0127290

Contract Administrator

$27,316

EPIC RETIREMENT PLAN SERVICES1 year

Filed as: SFG WEALTH MANAGMENT

Service code 99

1104 KENILOWORTH DR STE 500 · TOWSON, MD 21204

Other Fees

$10,530

GLOBAL RETIREMENT PARTNERS LLC1 year

Service code 27 · EIN 47-1411118

Advisory (Plan)

$7,890

AMERICAN FUNDS2 years

Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI

Service code 64

6455 IRVINE CENTER DRIVE · IRVINE, CA 92618

Recordkeeping Fees

$7,758

POLLARD & ASSOCIATES, INC.1 year

Filed as: POLLARD & ASSOCIATES INC

Service code 13

1 NORTH PARK DRIVE STE 104 · HUNTVALLEY, MD 21030

Contract Administrator

$1,050

MORNINGSTAR1 year

Filed as: MORNINGSTAR INVESTMENT MANAGMENT

Service code 26 · EIN 36-4317381

Advisory (Participants)

PSYCH ASSOCIATES GROUP LLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PSYCH ASSOCIATES GROUP LLC 401(K) 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