Retirement plan

NORMA KAMALI INC 401(K) PROFIT SHARING PLAN & TRUST

Name: NORMA KAMALI INC - NORMA KAMALI INC 401(K) PROFIT SHARING PLAN & TRUST (2021) Form 5500
Creator: NORMA KAMALI INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORMA KAMALI INC 401(K) PROFIT SHARING PLAN & TRUST, NORMA KAMALI INC

NORMA KAMALI INCEIN 13-2933892Plan #001PY 2021

609 GREENWICH STREET, 2ND FLOOR - NEW YORK, NY 100143610212-957-9797normakamali.comLinkedIn11-50 employeesapparel & fashion

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.1M

+2.3% from 2020

Total participants

-7.1% from 2020

Average account balance

$15,063

+9.0% from 2020

Annual return

5.44%

-1.07 pp from 2020

Benchmarks

See 8,920 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort8,920 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.21M

Not enough data

1 years with asset history on file

Average account balance

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

$23K

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.

264.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$380K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+14.45%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1134

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

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.
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

$266K

$10630 / participant

Other / not subdivided$266K100.0%

% of EOY assets

23.214%

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

$15,063

$65,434-77.0%

$98,483-84.7%

$85,847-82.5%

Participation rate

88.0%

65.0%+23.0pp

73.3%+14.7pp

69.3%+18.7pp

Annual return

5.44%

21.75%-16.3pp

1494.38%-1488.9pp

318.61%-313.2pp

Employer contribution / active EE

$2,688

$2,169+23.9%

$2,961-9.2%

$2,565+4.8%

Participant deferral / active EE

$6,092

$3,168+92.3%

$4,276+42.5%

$3,952+54.1%

Admin fee / account holder

$3,497

$4,595-23.9%

$5,953-41.3%

$6,261-44.1%

NORMA KAMALI INC 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORMA KAMALI INC 401(K) PROFIT SHARING PLAN & 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