Retirement plan

PLANET PAYMENT INC. 401(K) PLAN

Name: PLANET PAYMENT INC. - PLANET PAYMENT INC. 401(K) PLAN (2022) Form 5500
Creator: PLANET PAYMENT INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PLANET PAYMENT INC. 401(K) PLAN, PLANET PAYMENT INC.

PLANET PAYMENT INC.EIN 13-4084693Plan #001PY 2022

600 OLD COUNTRY ROAD, SUITE 207 - GARDEN CITY, NY 11530302-414-0754LinkedIn201-500 employeesfinancial services

Prospect flagsLow returnsRecently reached 100 employeesFailed to transmit contributions

How to read this page

Total assets (EOY)

$7.5M

-9.8% from 2021

Total participants

141

+22.6% from 2021

Average account balance

$66,862

-36.4% from 2021

Annual return

-19.31%

-35.25 pp from 2021

Benchmarks

See 5,987 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,987 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.53M

Not enough data

1 years with asset history on file

Average account balance

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

$105K

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.

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.

69.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$507K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+14.50%

Not enough data

1 years with return on file

Admin fee / account holder

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

$21844

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

0 years with F_SCH_H allocation on file

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

Service providers

Top 2 by compensation

Provider	Service type	Compensation
ASSOCIATED PENSION CONSULTANTS1 year Service code 49 · EIN 11-3271022 401 BROADHOLLOW ROAD · MELVILLE, NY 11747	Other Services	$0
MORNINGSTAR1 year Service code 27 · EIN 36-3297908 P.O. BOX 99067 · HARTFORD, CT 061990067	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2J2K2F2G3D

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.
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.

Opportunity flags

3 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$916

$9 / participant

Contract admin$916100.0%

% of EOY assets

0.012%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: COOPERS SAVAS
Auditor EIN: 275169784
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$66,862

$84,499-20.9%

$125,391-46.7%

$66,949-0.1%

Participation rate

71.6%

76.4%-4.9pp

82.4%-10.8pp

69.8%+1.7pp

Annual return

-19.31%

-8.49%-10.8pp

572.41%-591.7pp

1.57%-20.9pp

Employer contribution / active EE

$3,492

$3,554-1.7%

$4,816-27.5%

$2,545+37.2%

Participant deferral / active EE

$7,520

$6,785+10.8%

$7,448+1.0%

$4,239+77.4%

Admin fee / account holder

$685-98.8%

$10,009-99.9%

$594-98.6%

Provider

Service type

Compensation

ASSOCIATED PENSION CONSULTANTS1 year

Service code 49 · EIN 11-3271022

401 BROADHOLLOW ROAD · MELVILLE, NY 11747

Other Services

MORNINGSTAR1 year

Service code 27 · EIN 36-3297908

P.O. BOX 99067 · HARTFORD, CT 061990067

Advisory (Plan)

PLANET PAYMENT INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PLANET PAYMENT INC. 401(K) PLAN

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