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 (2023) 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 2023

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

Prospect flagsLow fidelity bondFailed to transmit contributions

How to read this page

Total assets (EOY)

$4.5M

+54.0% from 2022

Total participants

242

+24.7% from 2022

Average account balance

$21,309

+30.1% from 2022

Annual return

37.15%

-80.47 pp from 2022

Benchmarks

See 5,710 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,710 peers

Snapshot2023

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 3 by compensation

Provider	Service type	Compensation
AMERICAN FUNDS1 year Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI Service code 64 · EIN 82-4555287 6455 IRVINE CENTER DRIVE · IRVINE, CA 92618	Recordkeeping Fees	$19,570
EPIC RETIREMENT PLAN SERVICES1 year Filed as: SFG WEALTH MANAGEMENT Service code 99 1104 KENILOWORTH DR · TOWSON, MD 21204	Other Fees	$14,645
POLLARD & ASSOCIATES, INC.1 year Filed as: POLLARD & ASSOCIATES INC. Service code 13 · EIN 52-0909772 1 NORTH PARK DRIVE · HUNT VALLEY, MD 21030	Contract Administrator	$5,516

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

2 tripped

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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

$39K

$208 / participant

Other / not subdivided$39K100.0%

% of EOY assets

0.869%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$21,309

$61,338-65.3%

$149,717-85.8%

$71,495-70.2%

Participation rate

84.7%

62.5%+22.2pp

78.8%+6.0pp

67.9%+16.8pp

Annual return

37.15%

35.86%+1.3pp

134.41%-97.3pp

28.85%+8.3pp

Employer contribution / active EE

$3,047

$2,381+28.0%

$4,820-36.8%

$2,589+17.7%

Participant deferral / active EE

$6,256

$2,919+114.3%

$5,682+10.1%

$4,291+45.8%

Admin fee / account holder

$185

$1,263-85.3%

$13,213-98.6%

$1,588-88.3%

Provider

Service type

Compensation

AMERICAN FUNDS1 year

Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI

Service code 64 · EIN 82-4555287

6455 IRVINE CENTER DRIVE · IRVINE, CA 92618

Recordkeeping Fees

$19,570

EPIC RETIREMENT PLAN SERVICES1 year

Filed as: SFG WEALTH MANAGEMENT

Service code 99

1104 KENILOWORTH DR · TOWSON, MD 21204

Other Fees

$14,645

POLLARD & ASSOCIATES, INC.1 year

Filed as: POLLARD & ASSOCIATES INC.

Service code 13 · EIN 52-0909772

1 NORTH PARK DRIVE · HUNT VALLEY, MD 21030

Contract Administrator

$5,516

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