Retirement plan

PROCOM SERVICES 401(K) PLAN

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

PROCOM SERVICES AMERICA, INC.EIN 75-2768694Plan #001PY 2022

8000 REGENCY PARKWAY, SUITE 280, SUITE 216 - CARY, NC 27518317-306-8721

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$9M

-5.2% from 2021

Total participants

806

+8.3% from 2021

Average account balance

$27,692

-14.8% from 2021

Annual return

-11.89%

-25.73 pp from 2021

Benchmarks

See 3,159 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,159 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.96M

Not enough data

1 years with asset history on file

Average account balance

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

$39K

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.

332

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.

17.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.77M

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

+19.80%

Not enough data

1 years with return on file

Admin fee / account holder

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

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
ADP BROKER-DEALER3 years Filed as: ADP, INC. Service code 26 · EIN 13-3036745	Advisory (Participants)	$745
ADP BROKER-DEALER8+ years Service code 49 · EIN 22-3319984	Other Services	$0

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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.

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

$746

$1 / participant

Other / not subdivided$746100.0%

% of EOY assets

0.008%

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: JEFFREY L. OFFHAUS CPA LLC
Auditor EIN: 202368569
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$27,692

$82,163-66.3%

$125,363-77.9%

$64,814-57.3%

Participation rate

16.9%

77.9%-61.0pp

82.4%-65.5pp

71.5%-54.5pp

Annual return

-11.89%

3.49%-15.4pp

572.15%-584.0pp

32.84%-44.7pp

Employer contribution / active EE

$3,616-100.0%

$4,815-100.0%

$2,507-100.0%

Participant deferral / active EE

$3,614

$7,175-49.6%

$7,447-51.5%

$4,310-16.2%

Admin fee / account holder

$163-98.6%

$10,005-100.0%

$188-98.8%

Provider

Service type

Compensation

ADP BROKER-DEALER3 years

Filed as: ADP, INC.

Service code 26 · EIN 13-3036745

Advisory (Participants)

$745

ADP BROKER-DEALER8+ years

Service code 49 · EIN 22-3319984

Other Services

PROCOM SERVICES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PROCOM SERVICES 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