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THE PAYROLL FACTORY 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameTHE PAYROLL FACTORY 401(K) PROFIT SHARING PLAN
Plan identification number 001

THE PAYROLL FACTORY 401(K) PROFIT SHARING PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • Profit-sharing
  • 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

PROPER PAY INC. DBA THE PAYROLL FACTORY has sponsored the creation of one or more 401k plans.

Company Name:PROPER PAY INC. DBA THE PAYROLL FACTORY
Employer identification number (EIN):814293940
NAIC Classification:541214
NAIC Description:Payroll Services

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE PAYROLL FACTORY 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01
0012023-01-01
0012022-01-01
0012021-01-01
0012020-01-01

Financial Data on THE PAYROLL FACTORY 401(K) PROFIT SHARING PLAN

Measure Date Value
2025 : THE PAYROLL FACTORY 401(K) PROFIT SHARING PLAN 2025 401k financial data
Total transfers to/from plan in this plan year2025-01-270
Total liabilities as of the end of the plan year2025-01-270
Total liabilities as of the beginning of the plan year2025-01-270
Total expenses incurred by plan in this plan year2025-01-276885
Net assets as of the end of the plan year2025-01-27441227
Total assets as of the beginning of the plan year2025-01-27314723
Value of plan covered by a fidelity bond2025-01-2740000
Participant contributions to plan in this plan year2025-01-2750293
Other expenses paid from plan in this plan year2025-01-270
Other contributions to plan in this plan year2025-01-270
Other income to plan in this plan year2025-01-2768498
Plan net income in this plan year2025-01-27126504
Net assets as of the end of the plan year2025-01-27441227
Net assets as of the beginning of the plan year2025-01-27314723
Employer contributions to plan in this plan year2025-01-2714598
Fees paid to broker by Benefit Provider2025-01-27220
Expensese paid to adminstrative service provicers from plan in this plan year2025-01-276885
2024 : THE PAYROLL FACTORY 401(K) PROFIT SHARING PLAN 2024 401k financial data
Total transfers to/from plan in this plan year2024-05-160
Total liabilities as of the end of the plan year2024-05-160
Total liabilities as of the beginning of the plan year2024-05-160
Total expenses incurred by plan in this plan year2024-05-1626334
Net assets as of the end of the plan year2024-05-16314723
Total assets as of the beginning of the plan year2024-05-16223543
Value of plan covered by a fidelity bond2024-05-1630000
Participant contributions to plan in this plan year2024-05-1643315
Value of participant loans at end of plan year2024-05-160
Other expenses paid from plan in this plan year2024-05-160
Other contributions to plan in this plan year2024-05-160
Other income to plan in this plan year2024-05-1662369
Plan net income in this plan year2024-05-1691180
Net assets as of the end of the plan year2024-05-16314723
Net assets as of the beginning of the plan year2024-05-16223543
Employer contributions to plan in this plan year2024-05-1611830
Fees paid to broker by Benefit Provider2024-05-16427
Expensese paid to adminstrative service provicers from plan in this plan year2024-05-165571
2022 : THE PAYROLL FACTORY 401(K) PROFIT SHARING PLAN 2022 401k financial data
Total liabilities as of the end of the plan year2022-02-210
Total liabilities as of the beginning of the plan year2022-02-210
Total expenses incurred by plan in this plan year2022-02-214653
Net assets as of the end of the plan year2022-02-21233004
Total assets as of the beginning of the plan year2022-02-21169883
Value of plan covered by a fidelity bond2022-02-2120000
Participant contributions to plan in this plan year2022-02-2130769
Other expenses paid from plan in this plan year2022-02-210
Other contributions to plan in this plan year2022-02-210
Other income to plan in this plan year2022-02-2124962
Plan net income in this plan year2022-02-2163121
Net assets as of the end of the plan year2022-02-21233004
Net assets as of the beginning of the plan year2022-02-21169883
Employer contributions to plan in this plan year2022-02-2112043
Expensese paid to adminstrative service provicers from plan in this plan year2022-02-214653

Potentially related plans

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