Retirement plan

PRIORITY TECHNOLOGY HOLDINGS, INC. 401K PLAN

Name: PRIORITY TECHNOLOGY HOLDINGS, INC. - PRIORITY TECHNOLOGY HOLDINGS, INC. 401K PLAN (2022) Form 5500
Creator: PRIORITY TECHNOLOGY HOLDINGS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PRIORITY TECHNOLOGY HOLDINGS, INC. 401K PLAN, PRIORITY TECHNOLOGY HOLDINGS, INC.

PRIORITY TECHNOLOGY HOLDINGS, INC.EIN 47-4257046Plan #001PY 2022

2001 WESTSIDE PARKWAY, SUITE 155 - ALPHARETTA, GA 30004678-820-5589prth.comLinkedIn1-10 employeesfinancial services

Prospect flagsLow returnsLow assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$18.3M

-11.2% from 2021

Total participants

710

-3.5% from 2021

Average account balance

$26,854

-6.4% from 2021

Annual return

-17.33%

-35.90 pp from 2021

Benchmarks

See 1,529 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,529 peers

Snapshot2022

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Analytics

Total assets (EOY)

Plan-year ending balance

$36.55M

Not enough data

1 years with asset history on file

Average account balance

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

$50K

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.

733

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.

95.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$6.52M

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

+15.41%

Not enough data

1 years with return on file

Admin fee / account holder

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

$183

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 4 by compensation

Provider	Service type	Compensation
VOYA RETIREMENT INSURANCE & ANNUITY2+ years Service code 64 · EIN 71-0294708	Recordkeeping Fees	$100,719
CREATIVE PLANNING LLC1 year Filed as: CREATIVE PLANNING HOLD CO, LLC Service code 99 · EIN 84-4519624	Other Fees	$37,803
FRAZIER & DEETER, LLC1 year Service code 99 1230 PEACHTREE STREET NE · ATLANTA, GA 30309	Other Fees	$11,000
LOCKTON INVESTMENT ADVISORS, LLC2+ years Service code 99 · EIN 20-8874282	Other Fees	$7,930

Plan features & details

Pension benefit codes2E2F2A2J2K2S2T3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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).
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.
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.
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

3 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$112K

$234 / participant

Other / not subdivided$112K100.0%

% of EOY assets

0.609%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: FRAZIER & DEETER
Auditor EIN: 581433845
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$26,854

$86,897-69.1%

$151,611-82.3%

$64,808-58.6%

Participation rate

94.3%

87.3%+7.1pp

87.5%+6.8pp

71.5%+22.9pp

Annual return

-17.33%

-3.57%-13.8pp

3.33%-20.7pp

32.82%-50.1pp

Employer contribution / active EE

$2,540

$4,010-36.7%

$6,166-58.8%

$2,506+1.3%

Participant deferral / active EE

$5,271

$6,690-21.2%

$8,363-37.0%

$4,310+22.3%

Admin fee / account holder

$164

$153+6.9%

$11,616-98.6%

$188-12.9%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY2+ years

Service code 64 · EIN 71-0294708

Recordkeeping Fees

$100,719

CREATIVE PLANNING LLC1 year

Filed as: CREATIVE PLANNING HOLD CO, LLC

Service code 99 · EIN 84-4519624

Other Fees

$37,803

FRAZIER & DEETER, LLC1 year

Service code 99

1230 PEACHTREE STREET NE · ATLANTA, GA 30309

Other Fees

$11,000

LOCKTON INVESTMENT ADVISORS, LLC2+ years

Service code 99 · EIN 20-8874282

Other Fees

$7,930

PRIORITY TECHNOLOGY HOLDINGS, INC. 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PRIORITY TECHNOLOGY HOLDINGS, INC. 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