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PAYROLL MANAGEMENT, INC. 401(K) PLAN 401k Plan overview

Plan NamePAYROLL MANAGEMENT, INC. 401(K) PLAN
Plan identification number 001

PAYROLL MANAGEMENT, INC. 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • 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.

401k Sponsoring company profile

PAYROLL MANAGEMENT, INC. has sponsored the creation of one or more 401k plans.

Company Name:PAYROLL MANAGEMENT, INC.
Employer identification number (EIN):010451862
NAIC Classification:541214
NAIC Description:Payroll Services

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PAYROLL MANAGEMENT, INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01MICHAEL CARON2024-06-17
0012022-01-01
0012021-01-01
0012020-01-01
0012018-01-01
0012017-01-01
0012016-01-01
0012015-01-01
0012014-01-01
0012013-01-01
0012012-01-01GARY HEMENWAY2013-04-29 GARY HEMENWAY2013-04-29
0012011-01-01GARY HEMENWAY2012-03-07 GARY HEMENWAY2012-03-07
0012010-01-01GARY HEMENWAY2011-01-21 GARY HEMENWAY2011-01-21

Plan Statistics for PAYROLL MANAGEMENT, INC. 401(K) PLAN

401k plan membership statisitcs for PAYROLL MANAGEMENT, INC. 401(K) PLAN

Measure Date Value
2025: PAYROLL MANAGEMENT, INC. 401(K) PLAN 2025 401k membership
Total number of particpants at beginning of year2025-06-2952
Total number of particpants at end of year2025-06-2954
Number of Participants With Account Balances2025-06-2939
2024: PAYROLL MANAGEMENT, INC. 401(K) PLAN 2024 401k membership
Total number of particpants at beginning of year2024-06-1749
Total number of particpants at end of year2024-06-1751
Number of Participants With Account Balances2024-06-1736
2022: PAYROLL MANAGEMENT, INC. 401(K) PLAN 2022 401k membership
Total number of particpants at beginning of year2022-09-1644
Total number of particpants at end of year2022-09-1642
Number of Participants With Account Balances2022-09-1633

Financial Data on PAYROLL MANAGEMENT, INC. 401(K) PLAN

Measure Date Value
2025 : PAYROLL MANAGEMENT, INC. 401(K) PLAN 2025 401k financial data
Total expenses incurred by plan in this plan year2025-06-2999869
Net assets as of the end of the plan year2025-06-294871234
Total assets as of the beginning of the plan year2025-06-294030041
Value of plan covered by a fidelity bond2025-06-29225000
Participant contributions to plan in this plan year2025-06-29269843
Value of participant loans at end of plan year2025-06-2935579
Other contributions to plan in this plan year2025-06-2927659
Other income to plan in this plan year2025-06-29533121
Plan net income in this plan year2025-06-29841193
Net assets as of the end of the plan year2025-06-294871234
Net assets as of the beginning of the plan year2025-06-294030041
Employer contributions to plan in this plan year2025-06-29110439
Fees paid to broker by Benefit Provider2025-06-2914272
Expensese paid to adminstrative service provicers from plan in this plan year2025-06-2926413
2024 : PAYROLL MANAGEMENT, INC. 401(K) PLAN 2024 401k financial data
Total expenses incurred by plan in this plan year2024-06-17198213
Net assets as of the end of the plan year2024-06-174030041
Total assets as of the beginning of the plan year2024-06-173307314
Value of plan covered by a fidelity bond2024-06-17225000
Participant contributions to plan in this plan year2024-06-17245611
Value of participant loans at end of plan year2024-06-1742700
Other income to plan in this plan year2024-06-17573845
Plan net income in this plan year2024-06-17722727
Net assets as of the end of the plan year2024-06-174030041
Net assets as of the beginning of the plan year2024-06-173307314
Employer contributions to plan in this plan year2024-06-17101484
Fees paid to broker by Benefit Provider2024-06-1710204
Expensese paid to adminstrative service provicers from plan in this plan year2024-06-1723829
2022 : PAYROLL MANAGEMENT, INC. 401(K) PLAN 2022 401k financial data
Total transfers to/from plan in this plan year2022-09-160
Total liabilities as of the end of the plan year2022-09-160
Total liabilities as of the beginning of the plan year2022-09-160
Total expenses incurred by plan in this plan year2022-09-1691140
Net assets as of the end of the plan year2022-09-163924270
Total assets as of the beginning of the plan year2022-09-163349191
Value of plan covered by a fidelity bond2022-09-16392427
Participant contributions to plan in this plan year2022-09-16203832
Value of participant loans at end of plan year2022-09-1635213
Other expenses paid from plan in this plan year2022-09-160
Other contributions to plan in this plan year2022-09-160
Other income to plan in this plan year2022-09-16375917
Plan net income in this plan year2022-09-16575079
Net assets as of the end of the plan year2022-09-163924270
Net assets as of the beginning of the plan year2022-09-163349191
Employer contributions to plan in this plan year2022-09-1686470
Fees paid to broker by Benefit Provider2022-09-1611666
Expensese paid to adminstrative service provicers from plan in this plan year2022-09-1625320

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