Psalms, Inc.Profit-sharing plan
PSALMS, INC. RETIREMENT PLAN · MEMPHIS, TN · plan year 2024
Peer grade: B+ · admin costs + employer contributions vs same-size plans · how grading works
Psalms, Inc. reported $1,525 in plan administrative expenses for 2024: 0.10% of average plan assets, lower than ~75% of peers. Employer contributions averaged $686 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 3 years on file its reported administrative ratio has held roughly steady near 0.10%. The plan sits in the $1M–$10M size bracket, benchmarked here against 18,840 comparable plans and shown alongside other health care & social assistance employers. By assets it is among the smaller plans on file in Tennessee (1,346th of 1,496), and 10,361st of 11,911 in health care & social assistance. active participation has shrunk from 172 to 140 since 2022.
Psalms, Inc.'s 2024 employer contribution ran below the $1,313 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 621106224 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.