Retirement plan

MADISON AVENUE HAIRCUTTERS, INC. 401(K) PLAN

Name: MADISON AVENUE HAIRCUTTERS, INC. - MADISON AVENUE HAIRCUTTERS, INC. 401(K) PLAN (2020) Form 5500
Creator: MADISON AVENUE HAIRCUTTERS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MADISON AVENUE HAIRCUTTERS, INC. 401(K) PLAN, MADISON AVENUE HAIRCUTTERS, INC.

MADISON AVENUE HAIRCUTTERS, INC.EIN 06-1099324Plan #001PY 2020

38 OLD POST ROAD - MADISON, CT 06443203-318-3070

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$793K

+11.7% from 2019

Total participants

-4.8% from 2019

Average account balance

$49,540

+18.7% from 2019

Annual return

19.65%

-1.49 pp from 2019

Benchmarks

See 36,205 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort36,205 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$790K

Not enough data

1 years with asset history on file

Average account balance

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

$72K

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.

78.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$45K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+20.52%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2E2F2G2J3D

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.
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

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

$103K

$7336 / participant

Other / not subdivided$103K100.0%

% of EOY assets

12.957%

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

$49,540

$100,911-50.9%

$90,440-45.2%

$158,966-68.8%

Participation rate

71.4%

75.0%-3.6pp

72.7%-1.3pp

82.0%-10.5pp

Annual return

19.65%

1726.62%-1707.0pp

1294.38%-1274.7pp

302.95%-283.3pp

Employer contribution / active EE

$1,166

$3,690-68.4%

$3,263-64.3%

$4,762-75.5%

Participant deferral / active EE

$2,143

$4,348-50.7%

$3,964-45.9%

$5,983-64.2%

Admin fee / account holder

$6,419

$6,507-1.4%

$5,615+14.3%

$11,250-42.9%

MADISON AVENUE HAIRCUTTERS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MADISON AVENUE HAIRCUTTERS, INC. 401(K) 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