Retirement plan

ROLEX WATCH U.S.A., INC. PROFIT SHARING PLAN

Name: ROLEX WATCH U.S.A., INC. - ROLEX WATCH U.S.A., INC. PROFIT SHARING PLAN (2024) Form 5500
Creator: ROLEX WATCH U.S.A., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ROLEX WATCH U.S.A., INC. PROFIT SHARING PLAN, ROLEX WATCH U.S.A., INC.

ROLEX WATCH U.S.A., INC.EIN 13-1574389Plan #001PY 2024

665 FIFTH AVENUE - NEW YORK, NY 10022212-758-7700LinkedIn501-1000 employeesluxury goods & jewelry

Prospect flagsHigh feesHigh assets / participantFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed January 6, 2006 (most recent of 2 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$273.6M

+13.1% from 2023

Total participants

833

-1.8% from 2023

Average account balance

$336,087

+12.1% from 2023

Annual return

13.80%

-2.75 pp from 2023

Benchmarks

See 1,406 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants250-999

Cohort1,406 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$273.57M

Not enough data

1 years with asset history on file

Average account balance

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

$336K

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.

814

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.

96.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$13.76M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$22K

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

+13.80%

Not enough data

1 years with return on file

Admin fee / account holder

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

$425

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY4 years Service code 13 · EIN 42-0127290	Contract Administrator	$239,704
FIDUCIENT ADVISORS LLC4 years Service code 27 · EIN 36-4001764	Advisory (Plan)	$70,762
PKF O'CONNOR DAVIES, LLP1 year Service code 10 · EIN 27-1728945	Accounting	$35,109
MORNINGSTAR3 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

4 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$346K

$558 / participant

Recordkeeping$35K10.2%
Investment mgmt$71K20.5%
Contract admin$240K69.4%

% of EOY assets

0.126%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: PKF O'CONNOR DAVIES, LLP
Auditor EIN: 271728945
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$336,087

$89,436+275.8%

$164,813+103.9%

$77,643+332.9%

Participation rate

96.9%

78.6%+18.3pp

70.6%+26.4pp

Annual return

13.80%

28.83%-15.0pp

69.93%-56.1pp

31.24%-17.4pp

Employer contribution / active EE

$13,439

$2,569+423.2%

$4,341+209.6%

$2,726+393.0%

Participant deferral / active EE

$8,795

$4,897+79.6%

$6,031+45.8%

$4,647+89.2%

Admin fee / account holder

$425

$339+25.1%

$12,690-96.7%

$430-1.4%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY4 years

Service code 13 · EIN 42-0127290

Contract Administrator

$239,704

FIDUCIENT ADVISORS LLC4 years

Service code 27 · EIN 36-4001764

Advisory (Plan)

$70,762

PKF O'CONNOR DAVIES, LLP1 year

Service code 10 · EIN 27-1728945

Accounting

$35,109

MORNINGSTAR3 years

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L

Service code 26 · EIN 36-4317381

Advisory (Participants)

ROLEX WATCH U.S.A., INC. PROFIT SHARING PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ROLEX WATCH U.S.A., INC. PROFIT SHARING PLAN

Top hat statement on fileNQDC

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