Retirement plan

RETIREMENT PLAN FOR EMPLOYEES OF STEP BY STEP, INC

Name: STEP BY STEP, INC. - RETIREMENT PLAN FOR EMPLOYEES OF STEP BY STEP, INC (2022) Form 5500
Creator: STEP BY STEP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RETIREMENT PLAN FOR EMPLOYEES OF STEP BY STEP, INC, STEP BY STEP, INC.

STEP BY STEP, INC.EIN 23-2053563Plan #001PY 2022

744 KIDDER STREET - WILKES BARRE, PA 18702570-829-3477stepbystepusa.comLinkedIn1001-5000 employeesindividual & family services

Prospect flagsLow participant contribution

Top hat statement on fileNQDC

Filed March 25, 1996

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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How to read this page

Total assets (EOY)

$17.5M

-5.8% from 2021

Total participants

1,374

+19.4% from 2021

Average account balance

$15,906

-18.7% from 2021

Annual return

-10.69%

-31.98 pp from 2021

Benchmarks

See 3,878 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort3,878 peers

Snapshot2022

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Analytics

Total assets (EOY)

Plan-year ending balance

$23.79M

Not enough data

1 years with asset history on file

Average account balance

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

$19K

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.

1,231

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.

76.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.42M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+12.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$71

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 12 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.7+ years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$40,221
ALLIANCE PENSION CONSULTANTS, LLC4 years Filed as: THE PARAGON ALLIANCE GROUP, LLC Service code 13 · EIN 23-3044062	Contract Administrator	$13,509
CAMBRIDGE INVESTMENT RESEARCH4 years Service code 53 · EIN 42-1445429	Insurance Commissions	$11,449
TBS AGENCY INC7+ years Service code 53 · EIN 52-1473914	Insurance Commissions	$8,735
ALLSPRING1 year Service code 52 · EIN 84-6615098	Indirect Investment Fees	$0
AMERICAN FUNDS5 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: GREAT WEST LIFE & ANNUITY INSURANCE Service code 49 · EIN 84-0467907	Other Services	$0
LEGG MASON2 years Service code 52 · EIN 95-2705767	Indirect Investment Fees	$0
MFS INVESTMENT MANAGEMENT5 years Service code 52 · EIN 04-2468583	Indirect Investment Fees	$0
PRINCIPAL INVESTORS2 years Service code 52 · EIN 91-1801401	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2A2F2G2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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.

Opportunity flags

1 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$40K

$41 / participant

Investment mgmt$32K78.7%
Contract admin$8K21.1%
Other / not subdivided$640.2%

% of EOY assets

0.229%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BAKER TILLY US, LLP
Auditor EIN: 390859910
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$15,906

$46,292-65.6%

$143,757-88.9%

$64,808-75.5%

Participation rate

71.8%

64.2%+7.6pp

80.3%-8.5pp

71.5%+0.4pp

Annual return

-10.69%

-10.05%-0.6pp

-0.04%-10.7pp

32.82%-43.5pp

Employer contribution / active EE

$1,411

$1,910-26.1%

$4,951-71.5%

$2,506-43.7%

Participant deferral / active EE

$368

$2,646-86.1%

$5,637-93.5%

$4,310-91.5%

Admin fee / account holder

$36

$154-76.3%

$14,673-99.8%

$188-80.6%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.7+ years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$40,221

ALLIANCE PENSION CONSULTANTS, LLC4 years

Filed as: THE PARAGON ALLIANCE GROUP, LLC

Service code 13 · EIN 23-3044062

Contract Administrator

$13,509

CAMBRIDGE INVESTMENT RESEARCH4 years

Service code 53 · EIN 42-1445429

Insurance Commissions

$11,449

TBS AGENCY INC7+ years

Service code 53 · EIN 52-1473914

Insurance Commissions

$8,735

ALLSPRING1 year

Service code 52 · EIN 84-6615098

Indirect Investment Fees

AMERICAN FUNDS5 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: GREAT WEST LIFE & ANNUITY INSURANCE

Service code 49 · EIN 84-0467907

Other Services

LEGG MASON2 years

Service code 52 · EIN 95-2705767

Indirect Investment Fees

MFS INVESTMENT MANAGEMENT5 years

Service code 52 · EIN 04-2468583

Indirect Investment Fees

PRINCIPAL INVESTORS2 years

Service code 52 · EIN 91-1801401

Indirect Investment Fees

RETIREMENT PLAN FOR EMPLOYEES OF STEP BY STEP, INC

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RETIREMENT PLAN FOR EMPLOYEES OF STEP BY STEP, INC

Top hat statement on fileNQDC

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