Retirement plan

PAYCHECKS PLUS INC. 401K RETIREMENT SAVINGS PLAN

Name: PAYCHECKS PLUS, INC. - PAYCHECKS PLUS INC. 401K RETIREMENT SAVINGS PLAN (2021) Form 5500
Creator: PAYCHECKS PLUS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PAYCHECKS PLUS INC. 401K RETIREMENT SAVINGS PLAN, PAYCHECKS PLUS, INC.

PAYCHECKS PLUS, INC.EIN 59-3335577Plan #001PY 2021

2420 ENTERPRISE ROAD, SUITE 208 - CLEARWATER, FL 337631703727-712-0909uespeo.comLinkedIn5001-10000 employeesstaffing and recruiting

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$4.8M

+234.3% from 2020

Total participants

510

+50.9% from 2020

Average account balance

$17,836

+83.8% from 2020

Annual return

214.91%

+172.22 pp from 2020

Benchmarks

See 736 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants250-999

Cohort736 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$18.96M

Not enough data

1 years with asset history on file

Average account balance

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

$38K

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.

496

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.

52.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.27M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+108.40%

Not enough data

1 years with return on file

Admin fee / account holder

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

$310

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 2 by compensation

Provider	Service type	Compensation
RESOURCES INVESTMENT ADVISORS LLC1 year Filed as: RESOURCES INVESTMENT ADVISORS Service code 26 · EIN 43-1451524	Advisory (Participants)	$3,741
JOHN HANCOCK LIFE INSURANCE COMPANY5 years Filed as: JOHN HANCOCK LIFE INSURANCE CO Service code 15 · EIN 01-0233346 RETIREMENT PLAN SERVICES, ET9 · BUFFALO, NY 142010600	Recordkeeping	$1,289

Plan features & details

Pension benefit codes2E2F2G2J2K

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.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$55K

$118 / participant

Contract admin$33K60.9%
Other / not subdivided$21K39.1%

% of EOY assets

1.129%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SKIBBIE CPA,INC.
Auditor EIN: 270851321
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$17,836

$41,647-57.2%

$96,171-81.5%

$86,821-79.5%

Participation rate

48.5%

50.3%-1.8pp

68.4%-20.0pp

72.3%-23.8pp

Annual return

214.91%

27.24%+187.7pp

192.04%+22.9pp

97.94%+117.0pp

Employer contribution / active EE

$341

$1,328-74.3%

$2,799-87.8%

$2,406-85.8%

Participant deferral / active EE

$1,667

$2,412-30.9%

$4,350-61.7%

$4,132-59.7%

Admin fee / account holder

$201

$169+18.9%

$5,538-96.4%

$170+18.8%

Provider

Service type

Compensation

RESOURCES INVESTMENT ADVISORS LLC1 year

Filed as: RESOURCES INVESTMENT ADVISORS

Service code 26 · EIN 43-1451524

Advisory (Participants)

$3,741

JOHN HANCOCK LIFE INSURANCE COMPANY5 years

Filed as: JOHN HANCOCK LIFE INSURANCE CO

Service code 15 · EIN 01-0233346

RETIREMENT PLAN SERVICES, ET9 · BUFFALO, NY 142010600

Recordkeeping

$1,289

PAYCHECKS PLUS INC. 401K RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PAYCHECKS PLUS INC. 401K RETIREMENT SAVINGS 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