Retirement plan

DELUXE CORPORATION 401(K) PLAN

Name: DELUXE CORPORATION - DELUXE CORPORATION 401(K) PLAN (2021) 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 2021

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

Prospect flagsLow returnsHigh feesLow employer contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$1729.8M

-5.7% from 2016

Total participants

9,963

+6.0% from 2016

Average account balance

$178,462

-11.8% from 2016

Annual return

7.72%

-6.61 pp from 2016

Benchmarks

See 53 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants5,000-9,999

Cohort53 peers

Snapshot2021

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

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Service providers

Top 10 of 11 by compensation

Provider	Service type	Compensation
WILSHIRE ASSOCIATES INCORPORATED1 year Filed as: WILSHIRE Service code 50 · EIN 95-2755361	Direct Payment	$661,135
WEDGE CAPITAL MANAGEMENT5 years Service code 28 · EIN 56-1557450	Investment Management	$528,520
BAILLIE GIFFORD OVERSEAS LTD1 year Filed as: BAILLIE GIFFORD Service code 28 · EIN 22-3438530	Investment Management	$522,507
GREAT-WEST LIFE & ANNUITY INSURANCE7+ years Filed as: GREAT-WEST LIFE & ANNUITY INS CO Service code 15 · EIN 84-0467907	Recordkeeping	$497,460
PIMCO FUNDS1 year Filed as: PIMCO Service code 28 · EIN 33-0629048	Investment Management	$447,711
STATE STREET GLOBAL ADVISORS4 years Filed as: STATE STREET CORPORATION Service code 19 · EIN 04-1867445	Securities Custodian	$430,423
AMERIPRISE FINANCIAL SERVICES INC1 year Filed as: COLUMBIA (AMERIPRISE TRUST COMPANY) Service code 56 · EIN 41-6219335	Float revenue; Other investment fees ...	$319,396
MORGAN STANLEY SMITH BARNEY1 year Filed as: JP MORGAN Service code 27 · EIN 13-3200244	Advisory (Plan)	$188,155
BLACKROCK5 years Service code 21 · EIN 94-3112180	Bank Trustee	$143,014
CAUSEWAY CAPITAL MANAGEMENT LLC7+ years Service code 28 · EIN 95-4861680	Investment Management	$127,360

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

5 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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$4.0M

$726 / participant

Other / not subdivided$4M100.0%

% of EOY assets

0.232%

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

$178,462

$153,507+16.3%

$106,554+67.5%

$101,555+75.7%

Participation rate

95.1%

86.3%+8.8pp

76.1%+19.0pp

74.5%+20.6pp

Annual return

7.72%

15.11%-7.4pp

26.80%-19.1pp

21.00%-13.3pp

Employer contribution / active EE

$4,668-100.0%

$2,819-100.0%

$2,972-100.0%

Participant deferral / active EE

$5,536

$7,264-23.8%

$4,398+25.9%

$4,874+13.6%

Admin fee / account holder

$413

$74+461.1%

$7,408-94.4%

$139+196.2%

Provider

Service type

Compensation

WILSHIRE ASSOCIATES INCORPORATED1 year

Filed as: WILSHIRE

Service code 50 · EIN 95-2755361

Direct Payment

$661,135

WEDGE CAPITAL MANAGEMENT5 years

Service code 28 · EIN 56-1557450

Investment Management

$528,520

BAILLIE GIFFORD OVERSEAS LTD1 year

Filed as: BAILLIE GIFFORD

Service code 28 · EIN 22-3438530

Investment Management

$522,507

GREAT-WEST LIFE & ANNUITY INSURANCE7+ years

Filed as: GREAT-WEST LIFE & ANNUITY INS CO

Service code 15 · EIN 84-0467907

Recordkeeping

$497,460

PIMCO FUNDS1 year

Filed as: PIMCO

Service code 28 · EIN 33-0629048

Investment Management

$447,711

STATE STREET GLOBAL ADVISORS4 years

Filed as: STATE STREET CORPORATION

Service code 19 · EIN 04-1867445

Securities Custodian

$430,423

AMERIPRISE FINANCIAL SERVICES INC1 year

Filed as: COLUMBIA (AMERIPRISE TRUST COMPANY)

Service code 56 · EIN 41-6219335

Float revenue; Other investment fees ...

$319,396

MORGAN STANLEY SMITH BARNEY1 year

Filed as: JP MORGAN

Service code 27 · EIN 13-3200244

Advisory (Plan)

$188,155

BLACKROCK5 years

Service code 21 · EIN 94-3112180

Bank Trustee

$143,014

CAUSEWAY CAPITAL MANAGEMENT LLC7+ years

Service code 28 · EIN 95-4861680

Investment Management

$127,360

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