Retirement plan

PERFORMANCE MODALITIES, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Name: PERFORMANCE MODALITIES, INC. - PERFORMANCE MODALITIES, INC. 401(K) PROFIT SHARING PLAN AND TRUST (2017) Form 5500
Creator: PERFORMANCE MODALITIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PERFORMANCE MODALITIES, INC. 401(K) PROFIT SHARING PLAN AND TRUST, PERFORMANCE MODALITIES, INC.

PERFORMANCE MODALITIES, INC.EIN 91-1607760Plan #001PY 2017

19625 62ND AVE S A101 - KENT, WA 98032253-852-0078LinkedIn1-10 employeesmedical devices

Prospect flagsLow participationLow employer contributionLow fidelity bondCorrective distributions

How to read this page

Total assets (EOY)

$1.8M

+21.0% from 2016

Total participants

125

+9.6% from 2016

Average account balance

$24,008

+17.7% from 2016

Annual return

15.11%

+10.97 pp from 2016

Benchmarks

See 5,167 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,167 peers

Snapshot2017

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$5.84M

Not enough data

1 years with asset history on file

Average account balance

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

$22K

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.

263

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.

88.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.05M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+21.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$301

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 3 by compensation

Provider	Service type	Compensation
NATIONWIDE1 year Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$20,037
HUNNEX AND SHOEMAKER, INC.1 year Service code 14 · EIN 91-1072394 701 5TH AVENUE, SUITE 6710 · SEATTLE, WA 98104	Plan Administrator	$2,580
JP MORGAN INVESTMENT MANAGEMENT INC1 year Filed as: MEEDER INVESTMENT MANAGEMENT Service code 27 · EIN 31-1332744 6125 MEMORIAL DRIVE · DUBLIN, OH 43017	Advisory (Plan)	$2,475

Plan features & details

Pension benefit codes2A2E2J2K2F2G3D

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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CLIFTONLARSONALLEN, LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$24,008

$55,453-56.7%

$170,442-85.9%

$62,292-61.5%

Participation rate

54.8%

66.4%-11.6pp

83.6%-28.8pp

69.5%-14.7pp

Annual return

15.11%

21.38%-6.3pp

205.93%-190.8pp

28.90%-13.8pp

Employer contribution / active EE

$263

$2,164-87.9%

$5,433-95.2%

$2,042-87.1%

Participant deferral / active EE

$1,523

$2,303-33.8%

$4,939-69.2%

$3,169-51.9%

Admin fee / account holder

$455-100.0%

$13,880-100.0%

$479-100.0%

Provider

Service type

Compensation

NATIONWIDE1 year

Service code 15

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$20,037

HUNNEX AND SHOEMAKER, INC.1 year

Service code 14 · EIN 91-1072394

701 5TH AVENUE, SUITE 6710 · SEATTLE, WA 98104

Plan Administrator

$2,580

JP MORGAN INVESTMENT MANAGEMENT INC1 year

Filed as: MEEDER INVESTMENT MANAGEMENT

Service code 27 · EIN 31-1332744

6125 MEMORIAL DRIVE · DUBLIN, OH 43017

Advisory (Plan)

$2,475

PERFORMANCE MODALITIES, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

PERFORMANCE MODALITIES, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion