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 (2017) 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 2017

485 BROADWAY FL 3 - NEW YORK, NY 100132607212-461-1185downtownmusic.comLinkedIn501-1000 employeesmusic

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2.6M

+47.6% from 2016

Total participants

+27.7% from 2016

Average account balance

$55,468

+21.9% from 2016

Annual return

23.18%

+4.19 pp from 2016

Benchmarks

See 2,903 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants25-99

Cohort2,903 peers

Snapshot2017

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

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 codes2E2F2G2J2T3D3H

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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$72K

$1337 / participant

Other / not subdivided$72K100.0%

% of EOY assets

2.830%

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

$55,468

$64,359-13.8%

$90,161-38.5%

$70,126-20.9%

Participation rate

74.1%

70.4%+3.6pp

76.9%-2.8pp

69.5%+4.5pp

Annual return

23.18%

28.13%-5.0pp

34.89%-11.7pp

73.15%-50.0pp

Employer contribution / active EE

$3,284

$2,046+60.6%

$3,318-1.0%

$2,343+40.2%

Participant deferral / active EE

$5,860

$4,389+33.5%

$5,287+10.8%

$3,332+75.9%

Admin fee / account holder

$1,570

$3,945-60.2%

$5,943-73.6%

$4,645-66.2%

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