Retirement plan

SOUND IDEAS, INC. 401(K) PLAN

Name: SOUND IDEAS, INC. - SOUND IDEAS, INC. 401(K) PLAN (2022) Form 5500
Creator: SOUND IDEAS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOUND IDEAS, INC. 401(K) PLAN, SOUND IDEAS, INC.

SOUND IDEAS, INC.EIN 13-3904665Plan #001PY 2022

28 KAYSAL CT - ARMONK, NY 105041378914-273-2510

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$2.1M

-26.4% from 2021

Total participants

-10.0% from 2021

Average account balance

$267,653

-17.2% from 2021

Annual return

-20.46%

-34.91 pp from 2021

Benchmarks

See 21,416 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort21,416 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.50M

Not enough data

1 years with asset history on file

Average account balance

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

$277K

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.

128.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$65K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+11.27%

Not enough data

1 years with return on file

Admin fee / account holder

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

$114641

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

2 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$222K

$37076 / participant

Other / not subdivided$222K100.0%

% of EOY assets

10.389%

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

$267,653

$95,895+179.1%

$79,576+236.3%

$134,509+99.0%

Participation rate

83.3%

75.0%+8.3pp

69.5%+13.8pp

81.2%+2.1pp

Annual return

-20.46%

-2.72%-17.7pp

0.15%-20.6pp

418.13%-438.6pp

Employer contribution / active EE

$3,128-100.0%

$2,413-100.0%

$4,741-100.0%

Participant deferral / active EE

$7,813

$4,693+66.5%

$3,985+96.1%

$6,400+22.1%

Admin fee / account holder

$27,807

$9,129+204.6%

$6,834+306.9%

$11,427+143.4%

SOUND IDEAS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUND IDEAS, 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