Retirement plan

DELUXE CORPORATION 401(K) AND PROFIT SHARING PLAN

Name: DELUXE CORPORATION - DELUXE CORPORATION 401(K) AND PROFIT SHARING PLAN (2019) Form 5500
Creator: DELUXE CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DELUXE CORPORATION 401(K) AND PROFIT SHARING PLAN, DELUXE CORPORATION

DELUXE CORPORATIONEIN 41-0216800Plan #004PY 2019

3680 VICTORIA STREET NORTH - SHOREVIEW, MN 55126651-483-7111deluxe.comLinkedIn5001-10000 employeesfinancial services

Prospect flagsHigh feesLow employer contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$1652.6M

-5.7% from 2016

Total participants

9,606

+6.0% from 2016

Average account balance

$176,559

-11.8% from 2016

Annual return

22.53%

-6.61 pp from 2016

Benchmarks

See 59 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants5,000-9,999

Cohort59 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.46B

Not enough data

1 years with asset history on file

Average account balance

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

$173K

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.

8,430

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.

95.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$41.26M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+11.24%

Not enough data

1 years with return on file

Admin fee / account holder

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

$248

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 10 of 22 by compensation

Provider	Service type	Compensation
STATE STREET GLOBAL ADVISORS2 years Filed as: STATE STREET CORPORATION Service code 19 · EIN 04-1867445	Securities Custodian	$554,096
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: GREAT-WEST LIFE & ANNUITY INS CO (E Service code 15 · EIN 84-0467907	Recordkeeping	$513,356
PIMCO FUNDS1 year Filed as: PACIFIC INVESTMENT MANAGEMENT COMPA Service code 28 · EIN 33-0629048	Investment Management	$385,755
BAILLIE GIFFORD OVERSEAS LTD5+ years Service code 28 · EIN 22-3438530	Investment Management	$364,759
AMERIPRISE FINANCIAL SERVICES INC2 years Filed as: AMERIPRISE (COLUMBIA THREADNEEDLE) Service code 56 · EIN 41-6219335	Float revenue; Other investment fees ...	$352,118
JP MORGAN INVESTMENT MANAGEMENT INC1 year Filed as: J.P. MORGAN INVESTMENT MANAGEMENT I Service code 27 · EIN 13-3200244	Advisory (Plan)	$337,508
WEDGE CAPITAL MANAGEMENT3 years Service code 28 · EIN 56-1557450	Investment Management	$295,146
JACOBS, BURNS, ORLOVE & HERNANDEZ3 years Filed as: JACOBS LEVY Service code 28 · EIN 22-2774695	Investment Management	$266,693
FRANKLIN TEMPLETON2 years Filed as: TEMPLETON INVESTMENT COUNSEL, LLC Service code 28 · EIN 94-3385113	Investment Management	$250,626
DISCIPLINED GROWTH INVESTORS5+ years Service code 28 · EIN 41-1901233	Investment Management	$218,734

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

4 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$4.8M

$865 / participant

Other / not subdivided$5M100.0%

% of EOY assets

0.292%

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: BAKER TILLY US, LLP
Auditor EIN: 390859910
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$176,559

$156,529+12.8%

$93,621+88.6%

$82,204+114.8%

Participation rate

95.6%

86.5%+9.1pp

75.8%+19.8pp

73.4%+22.2pp

Annual return

22.53%

20.36%+2.2pp

32.76%-10.2pp

26.31%-3.8pp

Employer contribution / active EE

$1,822

$4,800-62.0%

$2,719-33.0%

$2,707-32.7%

Participant deferral / active EE

$5,761

$6,674-13.7%

$4,070+41.6%

$4,246+35.7%

Admin fee / account holder

$516

$65+696.4%

$7,890-93.5%

$76+581.9%

Provider

Service type

Compensation

STATE STREET GLOBAL ADVISORS2 years

Filed as: STATE STREET CORPORATION

Service code 19 · EIN 04-1867445

Securities Custodian

$554,096

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: GREAT-WEST LIFE & ANNUITY INS CO (E

Service code 15 · EIN 84-0467907

Recordkeeping

$513,356

PIMCO FUNDS1 year

Filed as: PACIFIC INVESTMENT MANAGEMENT COMPA

Service code 28 · EIN 33-0629048

Investment Management

$385,755

BAILLIE GIFFORD OVERSEAS LTD5+ years

Service code 28 · EIN 22-3438530

Investment Management

$364,759

AMERIPRISE FINANCIAL SERVICES INC2 years

Filed as: AMERIPRISE (COLUMBIA THREADNEEDLE)

Service code 56 · EIN 41-6219335

Float revenue; Other investment fees ...

$352,118

JP MORGAN INVESTMENT MANAGEMENT INC1 year

Filed as: J.P. MORGAN INVESTMENT MANAGEMENT I

Service code 27 · EIN 13-3200244

Advisory (Plan)

$337,508

WEDGE CAPITAL MANAGEMENT3 years

Service code 28 · EIN 56-1557450

Investment Management

$295,146

JACOBS, BURNS, ORLOVE & HERNANDEZ3 years

Filed as: JACOBS LEVY

Service code 28 · EIN 22-2774695

Investment Management

$266,693

FRANKLIN TEMPLETON2 years

Filed as: TEMPLETON INVESTMENT COUNSEL, LLC

Service code 28 · EIN 94-3385113

Investment Management

$250,626

DISCIPLINED GROWTH INVESTORS5+ years

Service code 28 · EIN 41-1901233

Investment Management

$218,734

DELUXE CORPORATION 401(K) AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DELUXE CORPORATION 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