Pinnacle Employee Services 401(k) match, vesting and fees
What Pinnacle Employee Services' 401(k) plan says about matching contributions
Each Participating Employer elects to make either: 1) no matching contributions; 2) discretionary matching contributions; 3) mandatory Safe Harbor matching contributions; or 4) enhanced Safe Harbor contributions, to their respective eligible participant’s account. Each Participating Employer may also elect to make either: 1) no profit sharing contribution; 2) mandatory Safe Harbor non-elective contribution; 3) job classifications (using a cross-tested or new comparability allocation formula); 4) integrated allocation formula; or 5) non-integrated (pro-rata) allocation formula for profit-sharing contributions.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | Audit report, p. 44 ↗ |
| Match vesting | Participants are vested immediately in their elective salary and safe harbor contributions plus actual earnings thereon. Vesting in Participating Employers’ discretionary matching and/or profit-sharing contributions portion of their accounts plus actual earnings thereon is based on years of continuous service. A participant in the Plan becomes 100% vested in any Participating Employer discretionary matching and/or profit-sharing contributions either immediately or after three, five or six years of credited service, depending on the specific Participating Employer’s vesting schedule. | Audit report, p. 45 ↗ |
| Automatic enrollment | Participating Employers have the option to elect automatic enrollment in the Plan for their respective participants with an initial deferral rate of 3% of their annual compensation, unless the participant elects a different percentage or expressly elects not to participate in the Plan. | Audit report, p. 44 ↗ |
| Roth contributions | Participants are allowed to make elective 401(k) and Roth salary deferrals up to the maximum amount allowed by the IRC. | Audit report, p. 44 ↗ |
| Loans | Participants may borrow from their accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance, subject to certain conditions as defined in the Plan agreement. The loan and interest thereon shall be repaid over a period not to exceed five years (except for certain residential loans which can exceed five years). The loans are secured by the balance in the participant’s account and bear interest at the prime rate plus 1%. Interest rates on outstanding loans range from 8.75% to 9.5% at December 31, 2024. | Audit report, p. 45 ↗ |
| Recordkeeper | Transamerica Financial Life Ins Co | Schedule C ↗ |
| Independent auditor | Bonadio & Co., LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
| Late participant contributions | Reported on the filing | Schedule H ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 231 defined-contribution plans in administrative, support and waste management services with 500 to 999 participants.
| Pinnacle Employee Services: employer contribution per participant | $1,389 | |
| Peer median | $1,443 |
| Pinnacle Employee Services: average balance | $39,351 | |
| Peer median | $38,287 |
| Pinnacle Employee Services: admin expenses ÷ assets | 0.26% | |
| Peer median | 0.47% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $33.7M at the end of plan year 2021 to $34.9M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 2,692 | $34.9M | $1.2M | $1,389 | 0.26% | Quoted in the audit report, p. 44 ↗ | Form 5500 ↗ |
| 2023 | 2,165 | $25.8M | $944K | $1,163 | 0.36% | Not published | Form 5500 ↗ |
| 2022 | 1,229 | $15.4M | $624K | $1,058 | 0.18% | Not published | Form 5500 ↗ |
| 2021 | 1,214 | $33.7M | $651K | $916 | 0.16% | Not published | Form 5500 ↗ |
Common questions
Does Pinnacle Employee Services match 401(k) contributions?
The audit report attached to the Pinnacle Employee Services, LLC 401(k) and Profit Sharing Plan's plan year 2024 Form 5500, page 44 says: “Each Participating Employer elects to make either: 1) no matching contributions; 2) discretionary matching contributions; 3) mandatory Safe Harbor matching contributions; or 4) enhanced Safe Harbor contributions, to their respective eligible participant’s account. Each Participating Employer may also elect to make either: 1) no profit sharing contribution; 2) mandatory Safe Harbor non-elective contribution; 3) job classifications (using a cross-tested or new comparability allocation formula); 4) integrated allocation formula; or 5) non-integrated (pro-rata) allocation formula for profit-sharing contributions.” Plan terms may have changed; check your current Summary Plan Description.
When is the Pinnacle Employee Services 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 45 says: “Participants are vested immediately in their elective salary and safe harbor contributions plus actual earnings thereon. Vesting in Participating Employers’ discretionary matching and/or profit-sharing contributions portion of their accounts plus actual earnings thereon is based on years of continuous service. A participant in the Plan becomes 100% vested in any Participating Employer discretionary matching and/or profit-sharing contributions either immediately or after three, five or six years of credited service, depending on the specific Participating Employer’s vesting schedule.”
Who manages the Pinnacle Employee Services 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Transamerica Financial Life Ins Co. The plan administrator is Pinnacle Employee Services, LLC.
I left Pinnacle Employee Services. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Pinnacle Employee Services, LLC, (315) 251-1101) or the recordkeeper, Transamerica Financial Life Ins Co. The Pinnacle Employee Services old 401(k) page lists the contacts from every plan filing. Find an old Pinnacle Employee Services 401(k)
Data from the public Form 5500 annual reports Pinnacle Employee Services filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Pinnacle Employee Services. Not financial advice. Report a correction · Methodology