Retirement plan

AKRIS INC. 401K PLAN

Name: AKRIS - AKRIS INC. 401K PLAN (2023) Form 5500
Creator: AKRIS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AKRIS INC. 401K PLAN, AKRIS

AKRISEIN 04-3333723Plan #001PY 2023

29 NEWBURY STREET - BOSTON, MA 02116212-991-9843

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$6.8M

+31.3% from 2022

Total participants

+13.4% from 2022

Average account balance

$119,406

+15.2% from 2022

Annual return

22.62%

+42.08 pp from 2022

Benchmarks

See 9,478 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants25-99

Cohort9,478 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$6.67M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$115K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

52.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$526K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+17.52%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$32021

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2G2F2H2J2T3D

Plan features

2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

1 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$16K

$303 / participant

Other / not subdivided$16K100.0%

% of EOY assets

0.236%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$119,406

$65,566+82.1%

$86,235+38.5%

$75,177+58.8%

Participation rate

64.2%

60.5%+3.7pp

69.0%-4.8pp

67.2%-3.1pp

Annual return

22.62%

46.07%-23.5pp

1170.03%-1147.4pp

160.75%-138.1pp

Employer contribution / active EE

$1,598

$1,553+2.9%

$2,381-32.9%

$2,671-40.2%

Participant deferral / active EE

$7,228

$3,023+139.1%

$3,987+81.3%

$4,126+75.2%

Admin fee / account holder

$282

$5,470-94.8%

$6,856-95.9%

$5,651-95.0%

AKRIS INC. 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AKRIS INC. 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion