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PAYCHOICE 401(K) PLAN 401k Plan overview

Plan NamePAYCHOICE 401(K) PLAN
Plan identification number 001

PAYCHOICE 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • 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.
  • 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.
  • 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 contribtions 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.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

PAYROLL ASSOCIATES, LLC has sponsored the creation of one or more 401k plans.

Company Name:PAYROLL ASSOCIATES, LLC
Employer identification number (EIN):201952367
NAIC Classification:541214
NAIC Description:Payroll Services

Additional information about PAYROLL ASSOCIATES, LLC

Jurisdiction of Incorporation: Texas Secretary of State
Incorporation Date: 2009-01-08
Company Identification Number: 0801072040
Legal Registered Office Address: 11215 N COMMUNITY HOUSE RD STE 800

CHARLOTTE
United States of America (USA)
28277

More information about PAYROLL ASSOCIATES, LLC

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PAYCHOICE 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012015-01-01KATHRYN TEASTER

Plan Statistics for PAYCHOICE 401(K) PLAN

401k plan membership statisitcs for PAYCHOICE 401(K) PLAN

Measure Date Value
2015: PAYCHOICE 401(K) PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-01144
Total number of active participants reported on line 7a of the Form 55002015-01-010
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-010
Total of all active and inactive participants2015-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-010
Number of participants with account balances2015-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-010

Financial Data on PAYCHOICE 401(K) PLAN

Measure Date Value
2015 : PAYCHOICE 401(K) PLAN 2015 401k financial data
Total unrealized appreciation/depreciation of assets2015-07-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-07-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-07-31$472,013
Total income from all sources (including contributions)2015-07-31$5,188
Total loss/gain on sale of assets2015-07-31$0
Total of all expenses incurred2015-07-31$4,067,997
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2015-07-31$4,067,278
Value of total corrective distributions2015-07-31$0
Total contributions o plan (from employers,participants, others, non cash contrinutions)2015-07-31$0
Value of total assets at end of year2015-07-31$0
Value of total assets at beginning of year2015-07-31$4,534,822
Total of administrative expenses incurred including professional, contract, advisory and management fees2015-07-31$719
Total interest from all sources2015-07-31$1
Total dividends received (eg from common stock, registered investment company shares)2015-07-31$1,055
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2015-07-31Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2015-07-31$0
Total dividends received from registered investment company shares (eg mutual funds)2015-07-31$1,055
Administrative expenses professional fees incurred2015-07-31$719
Was this plan covered by a fidelity bond2015-07-31Yes
Value of fidelity bond cover2015-07-31$500,000
If this is an individual account plan, was there a blackout period2015-07-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2015-07-31$0
Were there any nonexempt tranactions with any party-in-interest2015-07-31No
Participant contributions at end of year2015-07-31$0
Participant contributions at beginning of year2015-07-31$35,945
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2015-07-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2015-07-31$2,090
Total non interest bearing cash at end of year2015-07-31$0
Total non interest bearing cash at beginning of year2015-07-31$472,013
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2015-07-31No
Value of net income/loss2015-07-31$-4,062,809
Value of net assets at end of year (total assets less liabilities)2015-07-31$0
Value of net assets at beginning of year (total assets less liabilities)2015-07-31$4,062,809
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2015-07-31No
Were any loans by the plan or fixed income obligations due to the plan in default2015-07-31No
Were any leases to which the plan was party in default or uncollectible2015-07-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2015-07-31$0
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2015-07-31$3,444,160
Interest on participant loans2015-07-31$0
Value of interest in common/collective trusts at end of year2015-07-31$0
Value of interest in common/collective trusts at beginning of year2015-07-31$488,735
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2015-07-31$0
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2015-07-31$93,969
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2015-07-31$93,969
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2015-07-31$1
Net investment gain/loss from registered investment companies (e.g. mutual funds)2015-07-31$5,259
Net investment gain or loss from common/collective trusts2015-07-31$-1,127
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2015-07-31No
Was there a failure to transmit to the plan any participant contributions2015-07-31No
Has the plan failed to provide any benefit when due under the plan2015-07-31No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2015-07-31$4,067,278
Liabilities. Value of benefit claims payable at end of year2015-07-31$0
Liabilities. Value of benefit claims payable at beginning of year2015-07-31$469,923
Did the plan have assets held for investment2015-07-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2015-07-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2015-07-31Yes
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2015-07-31Yes
Opinion of an independent qualified public accountant for this plan2015-07-31Disclaimer
Accountancy firm name2015-07-31BATCHELOR FRECHETTE MCCRORY MICHAEL
Accountancy firm EIN2015-07-31050487888

Form 5500 Responses for PAYCHOICE 401(K) PLAN

2015: PAYCHOICE 401(K) PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingYes
2015-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes

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