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FORM 5500 DATA

Clear PEO, LLC 401k Savings Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/2016
  • Net Assets as of 12/31/2019 $13,498,633
  • Plan Number333
  • Plan Type Multiple Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants459
  • Retired or separated participants receiving benefits1
  • Other retired or separated participants entitled to future benefits50
  • Subtotal510
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total510
  • Total number of participants as of 01/01/2019616
  • Number of participants with account balances248
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested6

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address2080 Cabot Blvd West Suite 202
  • CityLanghorne
  • StatePA
  • Zip19047
  • Telephone(215) 701-9400
  • EIN35-2535759
  • Industry Code561300
  • Named AdministratorJames Hahl

Audit Information

  • Audit StatusAudited
  • AuditorWiss & Company, LLP
  • Auditor EIN22-1732349
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
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.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all 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 A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees 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 if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
3D Master plan A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $500,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $4,373,310
Contributions $1,980,852
Cash Contributions $1,980,852
Cash from Employers $354,462
Cash from Participants $1,332,904
Others (including rollovers) $293,486
Noncash Contributions $0
Total Earnings on Investments $2,392,458
Total Interest $31,555
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $23,143
Interest from Other Investments $8,412
Total Dividends $0
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $2,360,903
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $0
Other Income $0
Expenses $1,091,488
Total Benefit Payments $1,016,319
Directly to participants or beneficiaries, including direct rollovers $1,016,319
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $75,169
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $49,518
Other Administrative Fees $25,651
Net Income $3,281,822
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $2,326,627

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $13,498,633 $12,543,438 7.62%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $8,863 $84,633 -89.53%
Employer Contributions $7,321 $83,725 -91.26%
Participant Contributions $0 $0 0.0%
Other Contributions $1,542 $908 69.82%
General Investments $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $425,299 $427,720 -0.57%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $12,543,412 $11,466,491 9.39%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $0 $0 0.0%
Value of funds held in insurance co. general account $521,059 $564,594 -7.71%
Other Investments $0 $0 0.0%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $13,498,633 $12,543,438 7.62%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Transamerica Financial Life Ins Co

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Sound Financial Solutions, Inc. Investment advisory (plan), Direct payment from the plan Investment Advisory-Plan $49,518 $0 $49,518
Transamerica Financial Life Ins Co Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Investment management fees paid indirectly by plan, Float revenue, Recordkeeping fees, Other insurance wrap fees Recordkeeper $25,651 $0 $25,651
Total $75,169 $0 $75,169

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Ta Blackrock Lifepath Index 2025 Re Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $1,545,648
Vanguard Total Stock Market Index R Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $1,461,760
Ta Blackrock Lifepath Index Retirem Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $1,030,082
Ta Blackrock Lifepath Index 2030 Re Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $771,052
American Funds Growth Fund of Ameri Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $622,996
Ta Blackrock Lifepath Index 2040 Re Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $580,245
Ta Blackrock Lifepath Index 2035 Re Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $552,556
Amer Funds Europacific Growth Ret A Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $466,779
Transamerica Asset Alloc - Mod Grow Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $461,454
Vanguard Small-Cap Index Ret Acct Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $449,211
Ta Blackrock Lifepath Index 2055 Re Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $435,363
Amer Funds Fundamental Investors In Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $386,392
Ssga U.S. Bond Index Ret Acct Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $383,474
Ta Blackrock Lifepath Index 2045 Re Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $351,798
Transamerica Mid Cap Val Opportunit Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $330,741
Franklin Utilities Inv Acct Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $320,556
Blackrock Equity Dividend Inv Acct Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $319,012
Janus Balanced Inv Acct Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $260,704
Ta Blackrock Lifepath Index 2050 Re Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $251,929
Loomis Sayles Investment Grade Bond Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $173,322
Transamerica Asset Alloc - Grow Por Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $165,449
Blackrock Equity Dividend Ret Acct Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $159,668
Janus Balanced Ret Acct Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $148,558
Columbia Income Opportunities Inv A Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $120,527
Fidelity Advisor Small Cap Inv Acct Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $110,733
American Funds New Perspective Inv Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $103,840
American Cent Heritageinvacct Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $92,232
Templeton Global Bond Ret Acct Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $82,884
Blackrock High Yield Bond Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $70,209
Transamerica Asset Alloc - Conserv Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $60,918
Ta Vanguard Real Estate Index Ret A Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $58,757
Wells Fargo Small Company Value Inv Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $48,534
Ta Blackrock Lifepath Index 2060 Re Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $35,821
Wells Fargo Advantage Precious Meta Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $35,729
American Century Government Bond Re Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $35,016
Jpmorgan Market Expansion Index Ret Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $27,196
Amer Cent Inflation-Adj Bond Inv Ac Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $15,808
American Funds New Perspective Ret Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $11,333
Transamerica Asset Alloc - Mod Port Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $4,044
Dfa U.S. Targeted Value Portfolio R Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $1,082
Ta Blackrock Lifepath Index 2020 Re Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $0
Total $12,543,412

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Transamerica Financial Life Insurance Company 248
EIN 36-6071399
Industry Code 70688
Contract Number 932443
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $521,059
Value in Separate Accounts at Year End $12,543,412
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees There are no brokers listed for this plan.
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract STABLE VALUE OPTION
Balance at the end of the previous year $564,594
Additions $121,339
Contributions Deposited during the year $38,457
Dividends and credits $0
Interest credited during the year $8,412
Transferred from separate account $21,560
Other $52,910
Total of Balance and Additions $685,933
Deductions $164,874
Disbursed from fund to pay benefits or purchase annuities during the year $53,398
Administration charge made by carrier $56,048
Transferred to Separate Account $0
Other $55,428
Balance at the end of the current year $521,059