Retirement plan

INNOVATIVE DESIGNS, LLC 401K PLAN

Name: INNOVATIVE DESIGNS, LLC - INNOVATIVE DESIGNS, LLC 401K PLAN (2016) Form 5500
Creator: INNOVATIVE DESIGNS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INNOVATIVE DESIGNS, LLC 401K PLAN, INNOVATIVE DESIGNS, LLC

INNOVATIVE DESIGNS, LLCEIN 20-0039984Plan #001PY 2016

141 WEST 36TH ST. - NEW YORK, NY 10018212-695-0892innovativenyc.comLinkedIn11-50 employeesbusiness supplies and equipment

Prospect flagsLow participationLow employer contribution

How to read this page

Total assets (EOY)

$605K

+20.0% from 2015

Total participants

0.0% from 2015

Average account balance

$43,212

+20.0% from 2015

Annual return

6.74%

+7.70 pp from 2015

Benchmarks

See 9,335 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,335 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.07M

Not enough data

1 years with asset history on file

Average account balance

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

$94K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$131K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+12.03%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4042

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 codes2E2F2G2J2T3B3D

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$2K

$59 / participant

Other / not subdivided$2K100.0%

% of EOY assets

0.254%

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

$43,212

$69,977-38.2%

$108,582-60.2%

$62,881-31.3%

Participation rate

30.8%

72.9%-42.1pp

79.6%-48.8pp

69.3%-38.5pp

Annual return

6.74%

10.73%-4.0pp

-51.70%+58.4pp

20.14%-13.4pp

Employer contribution / active EE

$2,135-100.0%

$3,758-100.0%

$2,281-100.0%

Participant deferral / active EE

$2,576

$3,165-18.6%

$4,311-40.2%

$3,203-19.6%

Admin fee / account holder

$110

$5,076-97.8%

$7,645-98.6%

$4,296-97.4%

INNOVATIVE DESIGNS, LLC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INNOVATIVE DESIGNS, LLC 401K 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