Retirement plan

CELL PHONE COMPANY EMPLOYEE 401(K) SAVINGS PLAN

Name: PRIME COMMUNICATIONS, L.P. - CELL PHONE COMPANY EMPLOYEE 401(K) SAVINGS PLAN (2020) Form 5500
Creator: PRIME COMMUNICATIONS, L.P.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CELL PHONE COMPANY EMPLOYEE 401(K) SAVINGS PLAN, PRIME COMMUNICATIONS, L.P.

PRIME COMMUNICATIONS, L.P.EIN 76-0603404Plan #004PY 2020

12550 REED ROAD, SUITE 100 - SUGAR LAND, TX 77478281-492-3299primecomms.comLinkedIn5001-10000 employeeswireless

Other plans on this EIN

1 filing

#003Retirement--

Prospect flagsLow participationLow assets / participantLow employer contributionLow participant contributionFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed April 28, 2014

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$31.8M

+47.6% from 2019

Total participants

6,678

+71.3% from 2019

Average account balance

$16,591

-17.3% from 2019

Annual return

50.07%

+50.07 pp from 2019

Benchmarks

See 31 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants5,000-9,999

Cohort31 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$46.03M

Not enough data

1 years with asset history on file

Average account balance

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

$16K

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.

2,907

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.

32.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$8.38M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+11.26%

Not enough data

1 years with return on file

Admin fee / account holder

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

$118

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
WELLS FARGO BANK, N.A.2+ years Service code 15 · EIN 94-1347393	Recordkeeping	$148,356
UBS FINANCIAL SERVICES INC2+ years Filed as: UBS FINANCIAL SERVICES INC. Service code 27 · EIN 13-2638166	Advisory (Plan)	$53,157
WEINSTEIN ZUGMAN, LLC1 year Filed as: WEINSTEIN SPIRA & COMPANY, P. C. Service code 10 · EIN 74-2181616	Accounting	$35,000
HAYNES AND BOONE, LLP1 year Service code 27 · EIN 75-1312888	Advisory (Plan)	$24,102

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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

6 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.
OpportunityLow employer contribution
Employer contribution per participant 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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$256K

$41 / participant

Other / not subdivided$256K100.0%

% of EOY assets

0.806%

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: WEINSTEIN SPIRA
Auditor EIN: 742181616
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$16,591

$103,430-84.0%

$100,535-83.5%

$93,223-82.2%

Participation rate

23.7%

84.3%-60.6pp

79.4%-55.7pp

74.9%-51.2pp

Annual return

50.07%

24.60%+25.5pp

30.90%+19.2pp

19.29%+30.8pp

Employer contribution / active EE

$377

$3,129-88.0%

$3,419-89.0%

$2,680-85.9%

Participant deferral / active EE

$807

$6,375-87.3%

$6,271-87.1%

$4,563-82.3%

Admin fee / account holder

$134

$85+58.2%

$8,085-98.3%

$79+68.9%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.2+ years

Service code 15 · EIN 94-1347393

Recordkeeping

$148,356

UBS FINANCIAL SERVICES INC2+ years

Filed as: UBS FINANCIAL SERVICES INC.

Service code 27 · EIN 13-2638166

Advisory (Plan)

$53,157

WEINSTEIN ZUGMAN, LLC1 year

Filed as: WEINSTEIN SPIRA & COMPANY, P. C.

Service code 10 · EIN 74-2181616

Accounting

$35,000

HAYNES AND BOONE, LLP1 year

Service code 27 · EIN 75-1312888

Advisory (Plan)

$24,102

CELL PHONE COMPANY EMPLOYEE 401(K) SAVINGS PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CELL PHONE COMPANY EMPLOYEE 401(K) SAVINGS PLAN

Top hat statement on fileNQDC

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