Retirement plan

PAYFONE 401(K) PROFIT SHARING PLAN

Name: PAYFONE, INC. - PAYFONE 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: PAYFONE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PAYFONE 401(K) PROFIT SHARING PLAN, PAYFONE, INC.

PAYFONE, INC.EIN 26-2231809Plan #001PY 2020

245 5TH AVE, 20TH FLOOR - NEW YORK, NY 100168743212-614-6927payfone.comLinkedIn51-200 employeesinformation technology and services

Prospect flagsHigh feesLow participationRecently reached 100 employees

How to read this page

Total assets (EOY)

$4.7M

+83.0% from 2019

Total participants

148

+80.5% from 2019

Average account balance

$44,051

-1.6% from 2019

Annual return

45.30%

+9.01 pp from 2019

Benchmarks

See 909 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants100-249

Cohort909 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$23.62M

Not enough data

1 years with asset history on file

Average account balance

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

$84K

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.

282

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.

83.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.05M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

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

+20.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$441

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

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 codes2E2F2G2J2T3D

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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$182K

$1418 / participant

Other / not subdivided$182K100.0%

% of EOY assets

3.888%

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

$44,051

$66,813-34.1%

$100,530-56.2%

$73,493-40.1%

Participation rate

67.2%

77.5%-10.3pp

79.4%-12.2pp

70.7%-3.5pp

Annual return

45.30%

25.70%+19.6pp

30.89%+14.4pp

28.51%+16.8pp

Employer contribution / active EE

$2,207

$2,147+2.8%

$3,418-35.4%

$2,270-2.8%

Participant deferral / active EE

$6,222

$5,883+5.8%

$6,271-0.8%

$3,740+66.4%

Admin fee / account holder

$1,713

$512+234.5%

$8,083-78.8%

$513+233.8%

PAYFONE 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PAYFONE 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