Retirement plan

FRASSANITO JEWELERS CORP. 401(K) PROFIT SHARING PLAN

Name: FRASSANITO JEWELERS CORP. - FRASSANITO JEWELERS CORP. 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: FRASSANITO JEWELERS CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FRASSANITO JEWELERS CORP. 401(K) PROFIT SHARING PLAN, FRASSANITO JEWELERS CORP.

FRASSANITO JEWELERS CORP.EIN 11-3480104Plan #001PY 2022

346 NEW YORK AVENUE - HUNTINGTON, NY 11743631-427-5498frassanitojewelers.comLinkedIn1-10 employeesluxury goods & jewelry

Prospect flagsLow returnsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$3.1M

-29.6% from 2021

Total participants

0.0% from 2021

Average account balance

$441,387

-29.6% from 2021

Annual return

-26.59%

-46.06 pp from 2021

Benchmarks

See 8,685 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants<25

Cohort8,685 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.85M

Not enough data

1 years with asset history on file

Average account balance

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

$407K

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.

140.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$78K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+12.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$43

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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$363K

$72693 / participant

Other / not subdivided$363K100.0%

% of EOY assets

11.764%

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

$441,387

$82,324+436.2%

$68,803+541.5%

$134,545+228.1%

Participation rate

100.0%

75.1%+24.9pp

69.0%+31.0pp

81.2%+18.8pp

Annual return

-26.59%

-2.17%-24.4pp

-6.37%-20.2pp

418.37%-445.0pp

Employer contribution / active EE

$25,081

$3,302+659.7%

$2,656+844.4%

$4,742+429.0%

Participant deferral / active EE

$16,200

$4,740+241.8%

$3,942+311.0%

$6,401+153.1%

Admin fee / account holder

$51,924

$6,485+700.7%

$4,936+952.0%

$11,431+354.3%

FRASSANITO JEWELERS CORP. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FRASSANITO JEWELERS CORP. 401(K) 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