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American Payroll Service LLC

Form 5500 Data
OverviewPlan ComponentsInvestmentsProvidersArticles & Questions

American Payroll Service LLC

26
Form 5500 Data
OverviewPlan ComponentsInvestmentsProvidersArticles & Questions

Overview

Plan Rating

BrightScope Rating
26
Lowest Rating in Peer Group
Average Rating in Peer Group
Highest Rating in Peer Group
0102030405060708090100
Lowest in Peer Group (5)
Average in Peer Group (66)
Highest in Peer Group (84)

Plan Description

American Payroll Service 401k Retirement Plan is a defined contribution plan with a profit-sharing component and 401k feature. This plan has a BrightScope Rating of 26. American Payroll Service 401k Retirement Plan currently has over 200 active participants and over $3.6M in plan assets.

Did you know?

For the average 401k participant, the 58 point difference between this plan's BrightScope Rating (26) and the top rated plan (84) could equate to:
29
Additional years of work
511,430
Lost Savings
*The delay in retirement calculations apply solely to this defined contribution plan and do not take into account other retirement plans and programs offered by this employer. How is this calculated?

Plan Details

Plan Details Relevant details about the plan and the plan sponsor, including the address and industry of the plan sponsor and the size of the plan in assets and participants.

 
Plan data accurate as of 12/31/2018
Plan data has been audited by an Independent Qualified Public Accountant (IQPA). Address 6140 Parkland Blvd
  • Location
    Mayfield Heights , OH
    • 44124
  • Industry
    All Other Professional, Scientific, and Technical Services
  • Administrator
    Patrick Brainard
  • Net Plan Assets
    $3,560,000
  • Total Participants
    220
  • Avg Account Balance
    $25,000

Plan Components

Component Ratings

Design

Total Plan Cost:
Highest
Company Generosity:
Average

Performance

Participation Rate:
Below Avg.
Salary Deferrals:
Average
Account Balance:
Below Avg.

Design

Total Plan Cost:
Highest
Company Generosity:
Above Average

Performance

Participation Rate:
Below Avg.
Salary Deferrals:
Above Average
Account Balance:
Average

Peer Group Plans

Company Rating
NantKwest 79.2
Axiom Professionals, Llc 66.6
Harvey Gerstman Associates 59.2
Market Lab Research 50.3
Kaman's Art Shoppes 50.0
Frank Gargiulo & Son 47.3

Top Industry Articles

exclusives
Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals
Though retirement plans can allow individuals to self-certify that they qualify for a penalty-free coronavirus-related distribution, should the IRS discover otherwise during a future audit, a participant can be subject to substantial penalties.
June 11, 2020
Compliance
Stimulus Bill Extends Some Provisions of the CARES Act

It also provides a way for retirement plan sponsors to avoid a partial plan termination.

December 28, 2020
Compliance
House Ways and Means Committee Passes SECURE Act 2.0

The markup hearing, punctuated by a unanimous vote to advance the legislation, demonstrated that retirement security issues are capable of bringing together members of Congress who don’t agree on much else.

May 5, 2021
Compliance
Bronson Healthcare Group Sued Over 403(b) Plan Fees

The lawsuit alleges fiduciary breaches related to ensuring reasonable administrative and investment fees.

May 11, 2021
Compliance
College Savings App Hits Ascensus With Federal Antitrust Claims

UNest Holdings claims Ascensus pushed the company out of the college savings market in an effort to create a monopoly.

May 11, 2021

Investments

Investment Menu Stats

# of Investment Options

1

(Plan Average: 20)

Largest Funds in this Plan Allocation of Assets 1 YR Rank in Category
Voya Government Money Market 100%
10%
Fund hidden
100%
Fund hidden
100%
Fund hidden
100%
Fund hidden
100%
View all funds in this plan
for Asset Managers

Providers

Plan Service Providers

SERVICE PROVIDER
Insurance Carrier
Transamerica
Recordkeeper
Transamerica
Investment Adviser
Global Retirement Partners LLC
Auditor
Cohen & Company, Ltd.

Articles and Questions

Boeing Plan Report (Updated)

Boeing Fee Settlement Highlights the High Bar for Large Plans

Boeing Offers a Near Perfect Retirement Plan ModelIn most respects Boeing’s retirement offering is a great model of how to run a large retirement plan. Participants in Boeing’s 401(k) plan are beneficiaries of a participant-friendly design with immediate access, automatic enrollment, immediate ves

Why Do Investment Expenses Matter?
Ryan Alfred

Popular Questions

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