How much does Pvs contribute to its Profit-sharing plan?

In 2022, employer contributions to the Pvs plan averaged $5,904 per active participant, above the $1,114 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the Pvs 401(k)?

The average participant account balance was $23,819 for plan year 2022, based on 97 accounts.

PvsProfit-sharing plan

Name: Pvs 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

PVS STEEL SERVICES UNION PLAN · DETROIT, MI · plan year 2022

Employer contribution per participant · 2022

$5,904

Pvs's 2022 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $2,310,446 across 97 participant accounts, with employer contributions averaging $5,904 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $1M–$10M size bracket, benchmarked here against 30,021 comparable plans and shown alongside other manufacturing employers. By assets it is among the smaller plans on file in Michigan (2,329th of 2,619), and 12,673rd of 13,661 in manufacturing.

Plan summary
Net assets, end of year$2,310,446
Participants with balances97
Active participants77
Employer contributions$454,627
Employee contributions$0
Employer contribution per active participant$5,904
Average account balance$23,819
Benefits paid to participants$158,729
Plan auditUnmodified (clean) audit opinion
AuditorPLANTE & MORAN, PLLC

Employer contributions to the Pvs plan · 2022

Employer contribution per active participant$5,904

Median for plans this size$1,114

Pvs's 2022 employer contribution ran above the $1,114 median for plans its size, placing it in the top quarter of its peers. 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.

Similar plansManufacturing · Michigan
Extol, Inc. MI$2.4M · 0.02%
Fischer America, Inc. MI$2.4M · 0.66%
Admiral Tool & Manufacturing Co. of Michigan MI$2.3M · 0.06%
Corvac Composites, LLC MI$2.3M · 0.83%
Avon Machining, LLC MI$2.3M · 1.05%
Ameriti Manufacturing Company MI$2.1M · 1.09%
Tompkins Products Inc. MI$2.1M · 1.28%
Kotobukiya Treves, North America MI$2.1M · 1.26%

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Source: U.S. Department of Labor, Form 5500 series, EIN 464572750 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.