Retirement plan

VARSITY BRANDS, LLC 401(K) PROFIT SHARING PLAN

Name: VARSITY BRANDS, LLC - VARSITY BRANDS, LLC 401(K) PROFIT SHARING PLAN (2021) Form 5500
Creator: VARSITY BRANDS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VARSITY BRANDS, LLC 401(K) PROFIT SHARING PLAN, VARSITY BRANDS, LLC

VARSITY BRANDS, LLCEIN 22-2890400Plan #002PY 2021

14460 VARSITY BRANDS WAY - FARMERS BRANCH, TX 75244334-387-4140varsitybrands.comLinkedIn5001-10000 employeesexecutive office

Prospect flagsLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$410.2M

-12.5% from 2016

Total participants

6,772

+168.8% from 2016

Average account balance

$97,846

-5.5% from 2016

Annual return

14.22%

+64.80 pp from 2016

Benchmarks

See 1,137 peers

Peer group

Industryany (size+type match)

Plan typeDefined contribution

Participants5,000-9,999

Cohort1,137 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$405.80M

Not enough data

1 years with asset history on file

Average account balance

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

$66K

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.

6,188

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.

95.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$34.11M

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

+0.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

$48

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

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY7+ years Service code 13 · EIN 42-0127290	Contract Administrator	$327,816
CAPFINANCIAL PARTNERS LLC1 year Filed as: CAPFINANCIAL PARTNERS, L Service code 27 · EIN 26-0058143	Advisory (Plan)	$79,564
KATZ, SAPPER & MILLER4 years Filed as: KATZ SAPPER & MILLER Service code 10 · EIN 35-1090346	Accounting	$29,500
MORNINGSTAR6 years Filed as: MORNINGSTAR INVESTMENT MGMT LLC Service code 26 · EIN 36-4317381	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$480K

$83 / participant

Investment mgmt$122K25.5%
Contract admin$328K68.3%
Other / not subdivided$29K6.1%

% of EOY assets

0.117%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: KATZ, SAPPER & MILLER, LLP
Auditor EIN: 351090346
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$97,846

$101,555-3.7%

$142,908-31.5%

$101,555-3.7%

Participation rate

55.2%

74.5%-19.4pp

72.0%-16.8pp

74.5%-19.4pp

Annual return

14.22%

21.00%-6.8pp

5640.16%-5625.9pp

21.00%-6.8pp

Employer contribution / active EE

$2,972-100.0%

$4,146-100.0%

$2,972-100.0%

Participant deferral / active EE

$2,681

$4,874-45.0%

$3,838-30.2%

$4,874-45.0%

Admin fee / account holder

$114

$139-17.9%

$6,560-98.3%

$139-17.9%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY7+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$327,816

CAPFINANCIAL PARTNERS LLC1 year

Filed as: CAPFINANCIAL PARTNERS, L

Service code 27 · EIN 26-0058143

Advisory (Plan)

$79,564

KATZ, SAPPER & MILLER4 years

Filed as: KATZ SAPPER & MILLER

Service code 10 · EIN 35-1090346

Accounting

$29,500

MORNINGSTAR6 years

Filed as: MORNINGSTAR INVESTMENT MGMT LLC

Service code 26 · EIN 36-4317381

Advisory (Participants)

VARSITY BRANDS, LLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VARSITY BRANDS, LLC 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