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 (2023) 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 2023

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

Prospect flagsLow returnsLow participationLow participant contributionFailed to transmit contributions

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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Total assets (EOY)

$19.3M

+10.2% from 2022

Total participants

1,418

+3.2% from 2022

Average account balance

$19,221

+20.8% from 2022

Annual return

9.00%

+19.70 pp from 2022

Benchmarks

See 1,406 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,406 peers

Snapshot2023

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

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 6 by compensation

Provider	Service type	Compensation
ALLIANCE PENSION CONSULTANTS, LLC1 year Filed as: THE PARAGON ALLIANCE GROUP LLC Service code 13 · EIN 23-3044062	Contract Administrator	$20,238
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$19,575
MASSACHUSETTS MUTUAL LIFE INS. CO.4 years Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 62 · EIN 04-1590850	Recordkeeping fees; Float revenue	$16,809
TBS AGENCY INC8+ years Service code 53 · EIN 52-1473914 1776 PLEASANT PLAIN RD · FAIRFIELD, IA 52556	Insurance Commissions	$7,261
CAMBRIDGE INVESTMENT RESEARCH5 years Service code 53 · EIN 42-1445429	Insurance Commissions	$2,116
ALLIANCE PENSION CONSULTANTS, LLC5 years Filed as: THE PARAGON ALLIANCE GROUP, LLC Service code 13 300 HARLEYSVILLE PIKE · SOUDERTON, PA 18964	Contract Administrator	$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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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).

Expense breakdown

Schedule H Part II

Admin total

$38K

$32 / participant

Investment mgmt$9K22.7%
Contract admin$10K26.4%
Other / not subdivided$19K50.9%

% of EOY assets

0.197%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$19,221

$50,151-61.7%

$149,696-87.2%

$80,157-76.0%

Participation rate

65.3%

64.3%+1.0pp

78.8%-13.5pp

72.9%-7.7pp

Annual return

9.00%

29.80%-20.8pp

134.46%-125.5pp

40.39%-31.4pp

Employer contribution / active EE

$975

$1,867-47.8%

$4,821-79.8%

$2,977-67.2%

Participant deferral / active EE

$453

$3,194-85.8%

$5,682-92.0%

$5,015-91.0%

Admin fee / account holder

$38

$153-75.2%

$13,212-99.7%

$145-73.8%

Provider

Service type

Compensation

ALLIANCE PENSION CONSULTANTS, LLC1 year

Filed as: THE PARAGON ALLIANCE GROUP LLC

Service code 13 · EIN 23-3044062

Contract Administrator

$20,238

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$19,575

MASSACHUSETTS MUTUAL LIFE INS. CO.4 years

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 62 · EIN 04-1590850

Recordkeeping fees; Float revenue

$16,809

TBS AGENCY INC8+ years

Service code 53 · EIN 52-1473914

1776 PLEASANT PLAIN RD · FAIRFIELD, IA 52556

Insurance Commissions

$7,261

CAMBRIDGE INVESTMENT RESEARCH5 years

Service code 53 · EIN 42-1445429

Insurance Commissions

$2,116

ALLIANCE PENSION CONSULTANTS, LLC5 years

Filed as: THE PARAGON ALLIANCE GROUP, LLC

Service code 13

300 HARLEYSVILLE PIKE · SOUDERTON, PA 18964

Contract Administrator

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