Retirement plan

PAYROLL PROCESSING PLUS 401(K) PROFIT SHARING PLAN

Name: KELLY B. ERICKSON, INC. D.B.A. PAYROLL PROCESSING PLUS - PAYROLL PROCESSING PLUS 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: KELLY B. ERICKSON, INC. D.B.A. PAYROLL PROCESSING PLUS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PAYROLL PROCESSING PLUS 401(K) PROFIT SHARING PLAN, KELLY B. ERICKSON, INC. D.B.A. PAYROLL PROCESSING PLUS

KELLY B. ERICKSON, INC. D.B.A. PAYROLL PROCESSING PLUSEIN 20-8434602Plan #001PY 2023

205 W. 2ND STREET, SUITE 320 - DULUTH, MN 55802218-720-3566

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$1.2M

+23.1% from 2022

Total participants

+20.0% from 2022

Average account balance

$235,301

+23.1% from 2022

Annual return

16.35%

+30.81 pp from 2022

Benchmarks

See 139,849 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort139,849 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.73M

Not enough data

1 years with asset history on file

Average account balance

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

$288K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$75K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+18.13%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2G2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$1K

$256 / participant

Other / not subdivided$1K100.0%

% of EOY assets

0.109%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$235,301

$148,582+58.4%

$135,942+73.1%

$139,456+68.7%

Participation rate

80.0%

83.9%-3.9pp

81.9%-1.9pp

80.3%-0.3pp

Annual return

16.35%

79.26%-62.9pp

68.28%-51.9pp

373.45%-357.1pp

Employer contribution / active EE

$2,781

$5,245-47.0%

$4,858-42.7%

$4,753-41.5%

Participant deferral / active EE

$10,141

$8,101+25.2%

$7,759+30.7%

$6,711+51.1%

Admin fee / account holder

$256

$12,402-97.9%

$10,764-97.6%

$11,407-97.8%

PAYROLL PROCESSING PLUS 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PAYROLL PROCESSING PLUS 401(K) PROFIT SHARING 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