Retirement plan

OPEN PEP

Name: PLAN PROFESSIONALS, LLC - OPEN PEP (2022) Form 5500
Creator: PLAN PROFESSIONALS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OPEN PEP, PLAN PROFESSIONALS, LLC

PLAN PROFESSIONALS, LLCEIN 85-3213245Plan #301PY 2022

494 SYCAMORE AVE. - SHREWSBURY, NJ 07702732-758-1577

Other plans on this EIN

10 filings

#333Retirement-$351.7M assets #310Retirement-$162.1M assets #334Retirement-$41.4M assets #003Retirement-$38.1M assets #304Retirement-$34.5M assets #306Retirement-$12.1M assets #305Retirement-$9.9M assets #311Retirement-$1.2M assets #308Retirement-$181K assets #313Retirement--

Prospect flagsLow participationLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$70.4M

No prior year

Total participants

8,599

No prior year

Average account balance

$63,869

No prior year

Annual return

0.00%

No prior year

Benchmarks

See 46 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants5,000-9,999

Cohort46 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$354.96M

Not enough data

1 years with asset history on file

Average account balance

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

$40K

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.

8,929

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.

36.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$42.17M

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

+31.99%

Not enough data

1 years with return on file

Admin fee / account holder

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

$311

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2A2E2F2G2J2W

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.

Opportunity flags

3 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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$169K

$20 / participant

Investment mgmt$169K100.0%

% of EOY assets

0.241%

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: TEMPLETON & COMPANY
Auditor EIN: 141918990
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$63,869

$32,482+96.6%

$77,081-17.1%

$78,044-18.2%

Participation rate

11.9%

37.9%-26.0pp

67.9%-56.1pp

74.4%-62.6pp

Annual return

0.00%

-7.74%+7.7pp

42.33%-42.3pp

10.87%-10.9pp

Employer contribution / active EE

$149

$965-84.6%

$2,813-94.7%

$3,125-95.2%

Participant deferral / active EE

$215

$2,316-90.7%

$4,428-95.1%

$5,084-95.8%

Admin fee / account holder

$154

$107+43.0%

$5,427-97.2%

$79+94.6%

OPEN PEP

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OPEN PEP

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