Retirement plan

FAIRS LLC SAFE HARBOR 401(K) AND PROFIT SHARING PLAN

Name: FAIRS LLC - FAIRS LLC SAFE HARBOR 401(K) AND PROFIT SHARING PLAN (2024) Form 5500
Creator: FAIRS LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FAIRS LLC SAFE HARBOR 401(K) AND PROFIT SHARING PLAN, FAIRS LLC

FAIRS LLCEIN 04-3737842Plan #001PY 2024

1605 OLD VIRGINIA ROAD - POCOMOKE CITY, MD 21851410-957-1046

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$252K

-3.2% from 2023

Total participants

+11.1% from 2023

Average account balance

$25,189

-12.9% from 2023

Annual return

11.30%

+5.79 pp from 2023

Benchmarks

See 10,342 peers

Peer group

Industry45 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort10,342 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$252K

Not enough data

1 years with asset history on file

Average account balance

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

$25K

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.

333.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$26K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+11.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6350

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 codes2E2G2J2F2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$64K

$21167 / participant

Other / not subdivided$64K100.0%

% of EOY assets

25.210%

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

$25,189

$109,908-77.1%

$97,161-74.1%

$145,978-82.7%

Participation rate

100.0%

75.9%+24.1pp

72.7%+27.3pp

80.3%+19.7pp

Annual return

11.30%

243.80%-232.5pp

75.36%-64.1pp

550.52%-539.2pp

Employer contribution / active EE

$4,871

$3,077+58.3%

$2,723+78.8%

$4,662+4.5%

Participant deferral / active EE

$3,732

$4,679-20.2%

$4,265-12.5%

$6,690-44.2%

Admin fee / account holder

$6,350

$6,213+2.2%

$5,647+12.4%

$13,400-52.6%

FAIRS LLC SAFE HARBOR 401(K) AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FAIRS LLC SAFE HARBOR 401(K) AND PROFIT SHARING 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