Retirement plan

DOWNTOWN MUSIC LLC 401(K) PROFIT SHARING PLAN AND TRUST

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

DOWNTOWN MUSIC LLCEIN 04-3811309Plan #001PY 2024

155 AVENUE OF THE AMERICAS, 15TH FLOOR - NEW YORK, NY 100132607212-461-1185downtownmusic.comLinkedIn501-1000 employeesmusic

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$29M

+24.5% from 2023

Total participants

464

+5.2% from 2023

Average account balance

$70,547

+21.2% from 2023

Annual return

18.81%

-118.93 pp from 2023

Benchmarks

See 614 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants250-999

Cohort614 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$28.99M

Not enough data

1 years with asset history on file

Average account balance

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

$71K

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.

411

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.

83.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.63M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+18.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$163

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
AURORA PRIVATE WEALTH INC1 year Service code 27 · EIN 47-4814591	Advisory (Plan)	$34,271
FIDELITY INVESTMENTS INSTITUTIONAL5 years Service code 37 · EIN 04-2647786	Loan Processing	$18,641
ABG PORTFOLIO STRATEGIES, INC.1 year Filed as: ALERA INVESTMENT ADVISORS LLC Service code 27 · EIN 82-1301701	Advisory (Plan)	$14,110

Plan features & details

Pension benefit codes2G2J2T3H2E2F3D

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$67K

$206 / participant

Recordkeeping$19K27.8%
Investment mgmt$48K72.2%

% of EOY assets

0.231%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: UHY LLP
Auditor EIN: 200694403
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$70,547

$89,808-21.4%

$100,383-29.7%

$77,671-9.2%

Participation rate

83.7%

81.2%+2.5pp

81.5%+2.2pp

70.6%+13.2pp

Annual return

18.81%

20.62%-1.8pp

49.26%-30.5pp

31.21%-12.4pp

Employer contribution / active EE

$3,763

$3,039+23.8%

$3,944-4.6%

$2,726+38.0%

Participant deferral / active EE

$7,365

$8,284-11.1%

$8,086-8.9%

$4,648+58.5%

Admin fee / account holder

$163

$174-6.5%

$7,900-97.9%

$430-62.1%

Provider

Service type

Compensation

AURORA PRIVATE WEALTH INC1 year

Service code 27 · EIN 47-4814591

Advisory (Plan)

$34,271

FIDELITY INVESTMENTS INSTITUTIONAL5 years

Service code 37 · EIN 04-2647786

Loan Processing

$18,641

ABG PORTFOLIO STRATEGIES, INC.1 year

Filed as: ALERA INVESTMENT ADVISORS LLC

Service code 27 · EIN 82-1301701

Advisory (Plan)

$14,110

DOWNTOWN MUSIC LLC 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DOWNTOWN MUSIC LLC 401(K) PROFIT SHARING PLAN AND TRUST

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