Retirement plan

PAUL EFFMAN MUSIC INC 401(K) PLAN

Name: PAUL EFFMAN MUSIC SERVICE INC - PAUL EFFMAN MUSIC INC 401(K) PLAN (2020) Form 5500
Creator: PAUL EFFMAN MUSIC SERVICE INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PAUL EFFMAN MUSIC INC 401(K) PLAN, PAUL EFFMAN MUSIC SERVICE INC

PAUL EFFMAN MUSIC SERVICE INCEIN 11-3040077Plan #001PY 2020

600 WOODBURY ROAD - PLAINVIEW, NY 11803516-921-4543pemusic.comLinkedIn51-200 employeeseducation management

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$6.1M

+15.8% from 2019

Total participants

-5.0% from 2019

Average account balance

$121,452

+15.8% from 2019

Annual return

15.28%

-4.95 pp from 2019

Benchmarks

See 3,932 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants25-99

Cohort3,932 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.42M

Not enough data

1 years with asset history on file

Average account balance

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

$227K

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.

119.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$222K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+17.14%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5834

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 codes2E2F2G2J2T3D

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

$161K

$3822 / participant

Other / not subdivided$161K100.0%

% of EOY assets

2.643%

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

$121,452

$49,239+146.7%

$70,462+72.4%

$79,858+52.1%

Participation rate

83.3%

69.2%+14.2pp

75.1%+8.3pp

69.6%+13.7pp

Annual return

15.28%

30.08%-14.8pp

109.08%-93.8pp

31.72%-16.4pp

Employer contribution / active EE

$2,100-100.0%

$2,737-100.0%

$2,471-100.0%

Participant deferral / active EE

$4,071

$2,769+47.0%

$3,710+9.7%

$3,740+8.8%

Admin fee / account holder

$3,211

$2,876+11.6%

$3,845-16.5%

$5,306-39.5%

PAUL EFFMAN MUSIC INC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PAUL EFFMAN MUSIC 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