Retirement plan

TOTAL EMPLOYEE LEASING 401(K) PLAN

Name: TOTAL EMPLOYEE LEASING, INC. - TOTAL EMPLOYEE LEASING 401(K) PLAN (2024) Form 5500
Creator: TOTAL EMPLOYEE LEASING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TOTAL EMPLOYEE LEASING 401(K) PLAN, TOTAL EMPLOYEE LEASING, INC.

TOTAL EMPLOYEE LEASING, INC.EIN 59-3663120Plan #001PY 2024

98 WEED STREET - PENSACOLA, FL 32514850-476-9008

Prospect flagsLow returnsHigh feesLow participationLow participant contribution

How to read this page

Total assets (EOY)

$6.4M

+15.9% from 2023

Total participants

428

-22.0% from 2023

Average account balance

$33,380

+86.9% from 2023

Annual return

9.61%

-5.70 pp from 2023

Benchmarks

See 665 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants250-999

Cohort665 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.38M

Not enough data

1 years with asset history on file

Average account balance

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

$33K

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.

191

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.

37.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$780K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+9.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$617

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 1 by compensation

Provider	Service type	Compensation
RAYMOND JAMES FINANCIAL SERVICES3 years Filed as: RAYMOND JAMES FSA INC. Service code 26 · EIN 59-2937883	Advisory (Participants)	$14,374

Plan features & details

Pension benefit codes2A2E2F2G2J2K2S2T3D3F

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).
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.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant 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.

Expense breakdown

Schedule H Part II

Admin total

$118K

$310 / participant

Recordkeeping$52K44.5%
Investment mgmt$18K14.9%
Contract admin$48K40.5%

% of EOY assets

1.848%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SALTMARSH CPAS, INC.
Auditor EIN: 334755242
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$33,380

$62,686-46.8%

$178,540-81.3%

$77,736-57.1%

Participation rate

37.6%

66.9%-29.3pp

77.1%-39.5pp

70.6%-33.0pp

Annual return

9.61%

16.16%-6.5pp

27.15%-17.5pp

31.26%-21.6pp

Employer contribution / active EE

$504

$1,914-73.7%

$3,953-87.2%

$2,728-81.5%

Participant deferral / active EE

$1,550

$4,224-63.3%

$6,281-75.3%

$4,651-66.7%

Admin fee / account holder

$617

$386+59.8%

$10,424-94.1%

$433+42.4%

Provider

Service type

Compensation

RAYMOND JAMES FINANCIAL SERVICES3 years

Filed as: RAYMOND JAMES FSA INC.

Service code 26 · EIN 59-2937883

Advisory (Participants)

$14,374

TOTAL EMPLOYEE LEASING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TOTAL EMPLOYEE LEASING 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