Retirement plan

REEDS JEWELERS OF NIAGARA FALLS, INC. 401(K) PROFIT SHARING PLAN

Name: REEDS JEWELERS OF NIAGARA FALLS, INC. - REEDS JEWELERS OF NIAGARA FALLS, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: REEDS JEWELERS OF NIAGARA FALLS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, REEDS JEWELERS OF NIAGARA FALLS, INC. 401(K) PROFIT SHARING PLAN, REEDS JEWELERS OF NIAGARA FALLS, INC.

REEDS JEWELERS OF NIAGARA FALLS, INC.EIN 16-0819958Plan #002PY 2024

150 CREEKSIDE DRIVE - AMHERST, NY 14228716-688-7790LinkedIn1-10 employeesluxury goods & jewelry

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$4.1M

+13.9% from 2023

Total participants

0.0% from 2023

Average account balance

$87,444

+6.7% from 2023

Annual return

12.76%

-1.85 pp from 2023

Benchmarks

See 9,339 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants25-99

Cohort9,339 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.11M

Not enough data

1 years with asset history on file

Average account balance

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

$87K

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.

83.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$413K

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

+12.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8133

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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$382K

$6826 / participant

Other / not subdivided$382K100.0%

% of EOY assets

9.300%

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

$87,444

$71,197+22.8%

$93,669-6.6%

$80,925+8.1%

Participation rate

64.3%

60.4%+3.9pp

68.7%-4.4pp

67.7%-3.4pp

Annual return

12.76%

11.27%+1.5pp

133.59%-120.8pp

35.65%-22.9pp

Employer contribution / active EE

$671

$1,565-57.1%

$2,424-72.3%

$2,756-75.6%

Participant deferral / active EE

$6,710

$4,036+66.3%

$4,416+52.0%

$4,299+56.1%

Admin fee / account holder

$8,133

$6,959+16.9%

$8,291-1.9%

$6,940+17.2%

REEDS JEWELERS OF NIAGARA FALLS, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

REEDS JEWELERS OF NIAGARA FALLS, INC. 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