Retirement plan

CNY 401K PLAN

Name: CNY PAYROLL & DISBURSEMENTS LLC - CNY 401K PLAN (2020) Form 5500
Creator: CNY PAYROLL & DISBURSEMENTS LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CNY 401K PLAN, CNY PAYROLL & DISBURSEMENTS LLC

CNY PAYROLL & DISBURSEMENTS LLCEIN 35-2597966Plan #001PY 2020

1440 BROADWAY, 4TH FLOOR - NEW YORK, NY 10018212-302-9060

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$12.2M

+16.7% from 2019

Total participants

139

-2.1% from 2019

Average account balance

$101,463

+13.8% from 2019

Annual return

19.40%

-28.25 pp from 2019

Benchmarks

See 16,249 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort16,249 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.48M

Not enough data

1 years with asset history on file

Average account balance

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

$155K

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.

91.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$894K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$19K

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

+14.57%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1491

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

Top 6 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS2 years Filed as: TRANSAMERICA RETIREMENT SOLUTIONS, Service code 15 · EIN 13-3689044	Recordkeeping	$31,053
KESTRA INVESTMENT SERVICES LLC1 year Filed as: KESTRA ADVISORY SERVICES, LLC Service code 27 · EIN 35-2552359	Advisory (Plan)	$16,667
WITHUMSMITH+BROWN, PC1 year Filed as: WITHUM SMITH & BROWN PC Service code 10 · EIN 22-2027092	Accounting	$10,150
KESTRA INVESTMENT SERVICES LLC1 year Filed as: KESTRA INVESTMENT 74-2794194 Service code 22	Insurance Broker	$3,387
FJC & ASSOCIATES, INC.2 years Service code 15 · EIN 06-1086115	Recordkeeping	$1,025
KESTRA INVESTMENT SERVICES LLC2 years Filed as: KESTRA INVESTMENT SERVICES, LLC Service code 22 · EIN 74-2794194	Insurance Broker	$0

Plan features & details

Pension benefit codes2E2F2G2J2K3B3D

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$70K

$847 / participant

Other / not subdivided$70K100.0%

% of EOY assets

0.577%

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: WITHUMSMITH AND BROWN, PC
Auditor EIN: 222027092
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$101,463

$72,273+40.4%

$101,275+0.2%

$79,856+27.1%

Participation rate

77.1%

68.5%+8.6pp

75.8%+1.3pp

69.6%+7.5pp

Annual return

19.40%

22.30%-2.9pp

46.48%-27.1pp

31.71%-12.3pp

Employer contribution / active EE

$3,909

$2,691+45.2%

$3,660+6.8%

$2,471+58.2%

Participant deferral / active EE

$10,704

$3,282+226.2%

$4,371+144.9%

$3,741+186.2%

Admin fee / account holder

$586

$4,401-86.7%

$5,948-90.1%

$5,306-89.0%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS2 years

Filed as: TRANSAMERICA RETIREMENT SOLUTIONS,

Service code 15 · EIN 13-3689044

Recordkeeping

$31,053

KESTRA INVESTMENT SERVICES LLC1 year

Filed as: KESTRA ADVISORY SERVICES, LLC

Service code 27 · EIN 35-2552359

Advisory (Plan)

$16,667

WITHUMSMITH+BROWN, PC1 year

Filed as: WITHUM SMITH & BROWN PC

Service code 10 · EIN 22-2027092

Accounting

$10,150

KESTRA INVESTMENT SERVICES LLC1 year

Filed as: KESTRA INVESTMENT 74-2794194

Service code 22

Insurance Broker

$3,387

FJC & ASSOCIATES, INC.2 years

Service code 15 · EIN 06-1086115

Recordkeeping

$1,025

KESTRA INVESTMENT SERVICES LLC2 years

Filed as: KESTRA INVESTMENT SERVICES, LLC

Service code 22 · EIN 74-2794194

Insurance Broker

CNY 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CNY 401K 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