Plan Snapshot
- Plan Sponsor: Payday, INC.
- Sponsor EIN: 850413891
- Sponsor Address: 5011 INDIAN SCHOOL ROAD NE, ALBUQUERQUE, NM, 87110
- Plan Type: 401(k)
- Total Participants: 757
- Total Assets: $10.4M
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 | 757 | $10.4M | $362,528 | $1.0M |
| 2023 | 240 | $9.6M | $383,410 | $1.1M |
| 2022 | 520 | $7.8M | $300,237 | $832,266 |
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 |
|---|---|---|---|---|
| CBIZ CPAS P.C. | Auditor | $2,687 | — | $2,687 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $2,687
- Estimated Expense Ratio: 0.026% of plan assets
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 | $127,715 | $16,962 | $108,066 | $2,687 | — |
| 2023 | $104,558 | $10,452 | $92,066 | $2,040 | — |
| 2022 | $95,955 | $8,181 | $87,774 | — | — |