Plan Snapshot
- Plan Sponsor: Payday Benefits, LLC
- Sponsor EIN: 200416309
- Sponsor Address: 3051 W. MAPLE LOOP DR., SUITE 101, LEHI, UT, 84043
- Plan Type: 401(k)
- Total Participants: 1,385
- Total Assets: $6.9M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 1,385 | $6.9M | $630,785 | $1.2M |
| 2023 | 1,162 | $3.8M | $452,321 | $744,634 |
| 2022 | 746 | $2.2M | $132,693 | $318,223 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| SQUIRE | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- SQUIRE — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $52,355 | $24,883 | $27,472 | — | — |
| 2023 | $119,255 | — | $31,904 | — | — |
| 2022 | $22,996 | — | — | — | $22,996 |