PS Intermediate Holdco II LLC 401(k) Review & Grade
Pharmscript 401(k) Plan
Minnetonka, MNHealth Care & Social Assistance1,894 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$764Employer $ per active participant
$2,336Employee $ saved per active participant
0.38%Direct admin cost, % of plan assets
$29.5MNet plan assets, end of year
$22,640Average balance per account
Score breakdown
- Employer generosity22.1 / 5044th percentile for employer $ per participant
- Low cost8.1 / 2532th percentile for low admin cost vs. same-size plans
- Employee saving7.0 / 1546th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score34 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 44th |
| Lower admin cost | 32th |
| Employee saving | 46th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($453 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $340,913 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- PS Intermediate Holdco II put in about $764 per active participant, below the typical peer ($976). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.38% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $1,446,927 |
| Participant (employee) contributions | $4,426,153 |
| Other contributions (incl. rollovers in) | $237,669 |
| Administrative expenses paid from the plan | $99,473 |
| Investment advisory & management fees | $29,442 |
| Benefits paid out | $2,908,416 |
| Net assets, start / end of year | $23.1M / $29.5M |
| Active participants, start / end of year | 1,938 / 1,851 |
| Participants with account balances | 1,303 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $70,031 reported compensation |
| Usi Advisors, Inc. | $29,442 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250911105732NAL0000409729001, received 2025-09-11, EIN 81-2306672, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.