Retirement plan

DOMINION PAYROLL SERVICES LLC 401K PROFIT SHARING PLAN AND TRUST

Name: DOMINION PAYROLL SERVICES LLC - DOMINION PAYROLL SERVICES LLC 401K PROFIT SHARING PLAN AND TRUST (2023) Form 5500
Creator: DOMINION PAYROLL SERVICES LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DOMINION PAYROLL SERVICES LLC 401K PROFIT SHARING PLAN AND TRUST, DOMINION PAYROLL SERVICES LLC

DOMINION PAYROLL SERVICES LLCEIN 71-0890420Plan #001PY 2023

3200 ROCKBRIDGE STREET, SUITE 300 - RICHMOND, VA 23230804-355-3430

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$5.3M

+37.4% from 2022

Total participants

208

+26.1% from 2022

Average account balance

$33,746

+18.0% from 2022

Annual return

23.56%

+41.83 pp from 2022

Benchmarks

See 6,231 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,231 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.31M

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

177

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.

76.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.29M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+23.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

$185

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 4 by compensation

Provider	Service type	Compensation
ACG ADVISORY SERVICES3 years Filed as: ACG ADVISORY SERVICES, INC. Service code 27 · EIN 54-1583006 1640 HUGUENOT ROAD · MIDLOTHIAN, VA 23113	Advisory (Plan)	$10,733
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD, CO 80111	Recordkeeping Fees	$10,460
ACTUARIAL BENEFITS CORP3 years Filed as: THE ACTUARIAL CONSULTING GROUP Service code 13 · EIN 54-1437648 1640 HUGUENOT ROAD · MIDLOTHIAN, VA 23113	Contract Administrator	$9,847
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$3,535

Plan features & details

Pension benefit codes2E2G2J2K3D2F3H

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.
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

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$32K

$184 / participant

Other / not subdivided$32K100.0%

% of EOY assets

0.602%

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: KEITER
Auditor EIN: 541631262
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$33,746

$91,439-63.1%

$135,974-75.2%

$71,511-52.8%

Participation rate

69.8%

75.7%-5.9pp

81.9%-12.2pp

67.9%+1.8pp

Annual return

23.56%

29.90%-6.3pp

68.30%-44.7pp

28.86%-5.3pp

Employer contribution / active EE

$1,994

$3,705-46.2%

$4,859-59.0%

$2,589-23.0%

Participant deferral / active EE

$3,817

$7,093-46.2%

$7,760-50.8%

$4,291-11.0%

Admin fee / account holder

$203

$1,267-84.0%

$10,767-98.1%

$1,588-87.2%

Provider

Service type

Compensation

ACG ADVISORY SERVICES3 years

Filed as: ACG ADVISORY SERVICES, INC.

Service code 27 · EIN 54-1583006

1640 HUGUENOT ROAD · MIDLOTHIAN, VA 23113

Advisory (Plan)

$10,733

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD, CO 80111

Recordkeeping Fees

$10,460

ACTUARIAL BENEFITS CORP3 years

Filed as: THE ACTUARIAL CONSULTING GROUP

Service code 13 · EIN 54-1437648

1640 HUGUENOT ROAD · MIDLOTHIAN, VA 23113

Contract Administrator

$9,847

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$3,535

DOMINION PAYROLL SERVICES LLC 401K PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DOMINION PAYROLL SERVICES LLC 401K PROFIT SHARING PLAN AND TRUST

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