Retirement plan

DELUXE CORPORATION 401(K) PLAN

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

DELUXE CORPORATIONEIN 41-0216800Plan #004PY 2020

801 S MARQUETTE AVE - MINNEAPOLIS, MN 55402651-483-7111deluxe.comLinkedIn5001-10000 employeesfinancial services

Prospect flagsLow returnsHigh feesLow employer contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$1719.8M

-5.7% from 2016

Total participants

10,396

+6.0% from 2016

Average account balance

$170,297

-11.8% from 2016

Annual return

10.25%

-6.61 pp from 2016

Benchmarks

See 53 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants5,000-9,999

Cohort53 peers

Snapshot2020

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 15 by compensation

Provider	Service type	Compensation
BAILLIE GIFFORD OVERSEAS LTD6+ years Service code 28 · EIN 22-3438530	Investment Management	$563,383
STATE STREET GLOBAL ADVISORS3 years Filed as: STATE STREET CORPORATION Service code 19 · EIN 04-1867445	Securities Custodian	$493,623
WEDGE CAPITAL MANAGEMENT4 years Service code 28 · EIN 56-1557450	Investment Management	$456,423
PIMCO FUNDS3 years Filed as: PACIFIC INVESTMENT MANAGEMENT CO Service code 28 · EIN 33-0629048	Investment Management	$411,924
GREAT-WEST LIFE & ANNUITY INSURANCE6+ years Filed as: GREAT-WEST LIFE & ANNUITY INS CO Service code 15 · EIN 84-0467907	Recordkeeping	$394,351
AMERIPRISE FINANCIAL SERVICES INC3 years Filed as: AMERIPRISE (COLUMBIA THREADNEEDLE) Service code 56 · EIN 41-6219335	Non-monetary compensation; Float reve...	$373,109
JP MORGAN INVESTMENT MANAGEMENT INC3 years Filed as: J.P. MORGAN INVESTMENT MANAGEMENT Service code 27 · EIN 13-3200244	Advisory (Plan)	$350,907
JACOBS, BURNS, ORLOVE & HERNANDEZ4 years Filed as: JACOBS LEVY Service code 28 · EIN 22-2774695	Investment Management	$345,918
CAUSEWAY CAPITAL MANAGEMENT LLC6+ years Service code 28 · EIN 95-4861680	Investment Management	$190,815
DISCIPLINED GROWTH INVESTORS6+ years Service code 28 · EIN 41-1901233	Investment Management	$147,015

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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$4.9M

$906 / participant

Other / not subdivided$5M100.0%

% of EOY assets

0.284%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$170,297

$146,341+16.4%

$98,920+72.2%

$93,223+82.7%

Participation rate

94.5%

89.3%+5.2pp

76.0%+18.5pp

74.9%+19.6pp

Annual return

10.25%

16.85%-6.6pp

196.47%-186.2pp

19.29%-9.0pp

Employer contribution / active EE

$514

$4,823-89.3%

$2,689-80.9%

$2,680-80.8%

Participant deferral / active EE

$5,360

$7,126-24.8%

$4,245+26.3%

$4,563+17.5%

Admin fee / account holder

$484

$63+670.7%

$6,643-92.7%

$79+510.8%

Provider

Service type

Compensation

BAILLIE GIFFORD OVERSEAS LTD6+ years

Service code 28 · EIN 22-3438530

Investment Management

$563,383

STATE STREET GLOBAL ADVISORS3 years

Filed as: STATE STREET CORPORATION

Service code 19 · EIN 04-1867445

Securities Custodian

$493,623

WEDGE CAPITAL MANAGEMENT4 years

Service code 28 · EIN 56-1557450

Investment Management

$456,423

PIMCO FUNDS3 years

Filed as: PACIFIC INVESTMENT MANAGEMENT CO

Service code 28 · EIN 33-0629048

Investment Management

$411,924

GREAT-WEST LIFE & ANNUITY INSURANCE6+ years

Filed as: GREAT-WEST LIFE & ANNUITY INS CO

Service code 15 · EIN 84-0467907

Recordkeeping

$394,351

AMERIPRISE FINANCIAL SERVICES INC3 years

Filed as: AMERIPRISE (COLUMBIA THREADNEEDLE)

Service code 56 · EIN 41-6219335

Non-monetary compensation; Float reve...

$373,109

JP MORGAN INVESTMENT MANAGEMENT INC3 years

Filed as: J.P. MORGAN INVESTMENT MANAGEMENT

Service code 27 · EIN 13-3200244

Advisory (Plan)

$350,907

JACOBS, BURNS, ORLOVE & HERNANDEZ4 years

Filed as: JACOBS LEVY

Service code 28 · EIN 22-2774695

Investment Management

$345,918

CAUSEWAY CAPITAL MANAGEMENT LLC6+ years

Service code 28 · EIN 95-4861680

Investment Management

$190,815

DISCIPLINED GROWTH INVESTORS6+ years

Service code 28 · EIN 41-1901233

Investment Management

$147,015

DELUXE CORPORATION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DELUXE CORPORATION 401(K) 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