Retirement plan

SERVICE PAYMENT PLAN, INC. 401(K) AND PROFIT SHARING PLAN

Name: SERVICE PAYMENT PLAN, INC. - SERVICE PAYMENT PLAN, INC. 401(K) AND PROFIT SHARING PLAN (2023) Form 5500
Creator: SERVICE PAYMENT PLAN, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SERVICE PAYMENT PLAN, INC. 401(K) AND PROFIT SHARING PLAN, SERVICE PAYMENT PLAN, INC.

SERVICE PAYMENT PLAN, INC.EIN 36-3240578Plan #001PY 2023

303 EAST WACKER DRIVE, SUITE 2000 - CHICAGO, IL 606015219312-346-5990sppinc.netLinkedIn11-50 employeesfinancial services

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$11.4M

+30.2% from 2022

Total participants

-1.8% from 2022

Average account balance

$272,225

+42.6% from 2022

Annual return

28.33%

+53.26 pp from 2022

Benchmarks

See 5,247 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants25-99

Cohort5,247 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.95M

Not enough data

1 years with asset history on file

Average account balance

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

$356K

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.

69.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$552K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+14.31%

Not enough data

1 years with return on file

Admin fee / account holder

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

$29493

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

0 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 codes2E2F2G2J2R2T3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$401K

$9118 / participant

Other / not subdivided$401K100.0%

% of EOY assets

3.509%

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

$272,225

$49,891+445.6%

$80,607+237.7%

$75,181+262.1%

Participation rate

72.7%

55.3%+17.4pp

67.0%+5.7pp

67.2%+5.5pp

Annual return

28.33%

34.67%-6.3pp

936.11%-907.8pp

160.69%-132.4pp

Employer contribution / active EE

$4,029

$1,698+137.2%

$2,724+47.9%

$2,671+50.9%

Participant deferral / active EE

$8,095

$2,991+170.6%

$4,448+82.0%

$4,126+96.2%

Admin fee / account holder

$9,552

$3,578+167.0%

$5,379+77.6%

$5,650+69.1%

SERVICE PAYMENT PLAN, INC. 401(K) AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SERVICE PAYMENT PLAN, INC. 401(K) AND 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