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Original filing (PDF)20251014154504NAL0006652322001
PAYDAY BENEFITS, LLC
Form 5500
FILING_RECEIVED
PAYDAY BENEFITS RETIREMENT PLAN
401(k) retirement plan
Signals · 1
~108 bps in Sched C fees
Active participants
1,385
Accounts w/ balance
246
Plan assets (EOY)
$6.9M
Net assets (EOY)
$6.9M
Plan health score (directional)
81
/ 100
Grade B
Above-average plan
Directional indicator computed from public Form 5500 data — compliance, concentration, cost, vendor stack and participation. Not a fiduciary tool.
Compliance & disclosures
100
Concentration risk
75
Total plan cost
65
Vendor stack
100
Participation health
65
Knocking points off
- 108 bps in Schedule C fees — 107% above peer band of 52 bps.
- Only 18% as many balances as active participants — suggests many active employees aren't deferring.
Helping the score
- Concentration not scored — Schedule of Assets PDF not yet parsed for this plan.
Decision-maker contacts
CFO / Head of HR / Benefits Manager — verified email + LinkedIn for PAYDAY BENEFITS, LLC.
Plan sponsor
Name
PAYDAY BENEFITS, LLC
EIN
20-0416309
Address
3051 W. MAPLE LOOP DR., SUITE 101 · LEHI, UT · 84043
Phone
(801) 404-5241
Industry
Professional & Technical Servicessee all
Plan administrator
Same as plan sponsor.
Plan characteristics
Plan number
333
Plan year
2024
Plan year begin
2024-01-01
Tax period
2024-12-31
Filed
2025-10-14
Pension benefit codes
2T · Default investment account (QDIA)
2E · Profit-sharing
2J · 401(k) feature
2K · 401(m) arrangement
2F · ERISA section 404(c)
2G · Total participant-directed accounts
3D · Pre-approved plan (master / prototype / VS)
Audit & trust (Schedule H)
Auditor
SQUIRE
Trustee / custodian
—
Trustee phone
—
Service providers (Schedule C)
3 rowsRecordkeeper
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| ALLIANCE BENEFIT GROUP ROCKY MTN | 87-0364490 | SALT LAKE CITY, UT | RECORDKEEPER AND TPA | $27K | — |
Advisor / Consultant
2| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| SOLTIS INVESTMENT ADVISORS, LLC | 27-3188744 | — | INVESTMENT ADVISOR | $42K | — |
| DRIVE WEALTH ADVISERS | 47-2841185 | — | INVESTMENT ADVISOR | $5K | — |
Investments
The Schedule of Assets is filed as a free-form PDF attachment on EFAST2; we parse these offline and coverage is partial (priority is the largest plans by EOY assets). This plan also reports no pooled (Schedule D) interests, so its holdings aren’t hidden on a master-trust filing. The line-item data lives on DOL EFAST2 under the same ACK_ID.
See Methodology > Data linkages for how Form 5500 / Schedule H / Schedule D / Schedule of Assets fit together.
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