Retirement plan

OFFICE BASICS, INC. 401(K) PLAN

Name: OFFICE BASICS, INC. - OFFICE BASICS, INC. 401(K) PLAN (2015) Form 5500
Creator: OFFICE BASICS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OFFICE BASICS, INC. 401(K) PLAN, OFFICE BASICS, INC.

OFFICE BASICS, INC.EIN 23-2474862Plan #001PY 2015

22 CREEK CIRCLE - BOOTHWYN, PA 19061610-471-1000officebasics.comLinkedIn51-200 employeesbusiness supplies and equipment

Prospect flagsFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed June 13, 2022

Plan administrator

Plan administrator name— Sign in and upgrade to view

22 Creek Circle

Boothwyn, PA 19061

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Plans declared (1)

The Office Basics Deferred Compensation Plan4 emp

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Total assets (EOY)

$5.4M

No prior year

Total participants

173

No prior year

Average account balance

$37,597

No prior year

Annual return

0.83%

No prior year

Benchmarks

See 379 peers

Peer group

Industry45 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort379 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.93M

Not enough data

1 years with asset history on file

Average account balance

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

$98K

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.

142

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.

69.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$660K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+17.45%

Not enough data

1 years with return on file

Admin fee / account holder

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

$316

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 2 by compensation

Provider	Service type	Compensation
LPL FINANCIAL1+ years Filed as: LPL FINANCIAL CORPORATION Service code 27 9785 TOWNE CENTER DRIVE · SAN DIEGO, CA 92121	Advisory (Plan)	$10,979
BENEFIT CONSULTANTS GROUP1+ years Service code 64 51 HADDONFIELD ROAD · CHERRY HILL, NJ 08002	Recordkeeping Fees	$10,702

Plan features & details

Pension benefit codes2F2J2K2G3D2T2E

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.
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

2 tripped

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

$37K

$256 / participant

Other / not subdivided$37K100.0%

% of EOY assets

0.690%

all-in expense ratio

Categories reported

0 / 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: FISCHER CUNNANE & ASSOCIATES
Auditor EIN: 233060583
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,597

$38,595-2.6%

$80,004-53.0%

$52,331-28.2%

Participation rate

80.1%

64.5%+15.6pp

73.0%+7.1pp

68.1%+12.0pp

Annual return

0.83%

2.04%-1.2pp

7.63%-6.8pp

4.54%-3.7pp

Employer contribution / active EE

$991

$1,133-12.5%

$2,473-59.9%

$1,882-47.3%

Participant deferral / active EE

$2,906

$2,318+25.3%

$3,204-9.3%

$3,022-3.8%

Admin fee / account holder

$260

$304-14.7%

$5,033-94.8%

$592-56.1%

Provider

Service type

Compensation

LPL FINANCIAL1+ years

Filed as: LPL FINANCIAL CORPORATION

Service code 27

9785 TOWNE CENTER DRIVE · SAN DIEGO, CA 92121

Advisory (Plan)

$10,979

BENEFIT CONSULTANTS GROUP1+ years

Service code 64

51 HADDONFIELD ROAD · CHERRY HILL, NJ 08002

Recordkeeping Fees

$10,702

OFFICE BASICS, INC. 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

OFFICE BASICS, INC. 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