Retirement plan

UNIT4 401(K) PLAN

Name: UNIT4 BUSINESS SOFTWARE, INC. - UNIT4 401(K) PLAN (2019) Form 5500
Creator: UNIT4 BUSINESS SOFTWARE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UNIT4 401(K) PLAN, UNIT4 BUSINESS SOFTWARE, INC.

UNIT4 BUSINESS SOFTWARE, INC.EIN 04-3461317Plan #001PY 2019

3 BURLINGTON WOODS DRIVE, SUITE 201 - BURLINGTON, MA 01803877-704-5974

Prospect flagsHigh feesFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed July 9, 2020

Plan administrator

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588 Coldstream Dr.

Berwyn, PA 19312

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Plans declared (1)

Plan name not on file1 emp

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Total assets (EOY)

$11.5M

+23.9% from 2018

Total participants

173

+2.4% from 2018

Average account balance

$68,630

+21.7% from 2018

Annual return

23.59%

+25.14 pp from 2018

Benchmarks

See 5,552 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,552 peers

Snapshot2019

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$13.16M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$74K

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.

177

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.

92.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.02M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+16.22%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$247

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

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Service providers

Top 10 of 14 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Service code 49 · EIN 04-1590850	Other Services	$45,265
COMMONWEALTH FINANCIAL NETWORK2 years Service code 27 · EIN 04-2675571	Advisory (Plan)	$19,838
AB FUNDS2 years Service code 52 · EIN 13-4071393	Indirect Investment Fees	$0
AMERICAN FUNDS2 years Service code 52 · EIN 95-6006886	Indirect Investment Fees	$0
FRANKLIN TEMPLETON1 year Filed as: FRANKLINTEMPLETON Service code 52 · EIN 13-2573775	Indirect Investment Fees	$0
JANUS HENDERSON2 years Service code 52 · EIN 84-0592523	Indirect Investment Fees	$0
MORGAN STANLEY SMITH BARNEY2 years Filed as: JP MORGAN Service code 52 · EIN 33-1043149	Indirect Investment Fees	$0
LEGG MASON2 years Service code 52 · EIN 95-2705767	Indirect Investment Fees	$0
MFS INVESTMENT MANAGEMENT2 years Service code 52 · EIN 04-3158862	Indirect Investment Fees	$0
PGIM INVESTMENTS2 years Service code 52 · EIN 13-2974999	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D3H2S2T

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$65K

$446 / participant

Investment mgmt$62K96.0%
Contract admin$2K2.9%
Other / not subdivided$7011.1%

% of EOY assets

0.565%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: TAWNEY, PLLC
Auditor EIN: 464585449
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$68,630

$89,652-23.4%

$141,177-51.4%

$65,185+5.3%

Participation rate

96.6%

74.7%+21.9pp

82.5%+14.1pp

70.2%+26.4pp

Annual return

23.59%

32.79%-9.2pp

71.40%-47.8pp

29.38%-5.8pp

Employer contribution / active EE

$2,277

$3,065-25.7%

$4,736-51.9%

$2,177+4.6%

Participant deferral / active EE

$7,084

$5,691+24.5%

$6,710+5.6%

$3,514+101.6%

Admin fee / account holder

$388

$569-31.8%

$10,263-96.2%

$847-54.3%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Service code 49 · EIN 04-1590850

Other Services

$45,265

COMMONWEALTH FINANCIAL NETWORK2 years

Service code 27 · EIN 04-2675571

Advisory (Plan)

$19,838

AB FUNDS2 years

Service code 52 · EIN 13-4071393

Indirect Investment Fees

AMERICAN FUNDS2 years

Service code 52 · EIN 95-6006886

Indirect Investment Fees

FRANKLIN TEMPLETON1 year

Filed as: FRANKLINTEMPLETON

Service code 52 · EIN 13-2573775

Indirect Investment Fees

JANUS HENDERSON2 years

Service code 52 · EIN 84-0592523

Indirect Investment Fees

MORGAN STANLEY SMITH BARNEY2 years

Filed as: JP MORGAN

Service code 52 · EIN 33-1043149

Indirect Investment Fees

LEGG MASON2 years

Service code 52 · EIN 95-2705767

Indirect Investment Fees

MFS INVESTMENT MANAGEMENT2 years

Service code 52 · EIN 04-3158862

Indirect Investment Fees

PGIM INVESTMENTS2 years

Service code 52 · EIN 13-2974999

Indirect Investment Fees

UNIT4 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UNIT4 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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