Retirement plan

SCHROTH & LORENSON'S JEWELERS, INC 401(K) PLAN

Name: SCHROTH & LORENSON'S JEWELERS, INC - SCHROTH & LORENSON'S JEWELERS, INC 401(K) PLAN (2023) Form 5500
Creator: SCHROTH & LORENSON'S JEWELERS, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SCHROTH & LORENSON'S JEWELERS, INC 401(K) PLAN, SCHROTH & LORENSON'S JEWELERS, INC

SCHROTH & LORENSON'S JEWELERS, INCEIN 22-3020074Plan #001PY 2023

446 SPRINGFIELD AVENUE - SUMMIT, NJ 07901908-273-1676LinkedIn11-50 employeesretail

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$507K

+25.3% from 2022

Total participants

-20.0% from 2022

Average account balance

$126,865

+56.6% from 2022

Annual return

12.15%

+25.99 pp from 2022

Benchmarks

See 22,174 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort22,174 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$784K

Not enough data

1 years with asset history on file

Average account balance

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

$261K

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

$94K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$31K

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

+11.70%

Not enough data

1 years with return on file

Admin fee / account holder

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

$10647

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 codes2E2F2G2J3D

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.
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.)
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

$33K

$11045 / participant

Other / not subdivided$33K100.0%

% of EOY assets

6.529%

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

$126,865

$102,635+23.6%

$86,209+47.2%

$139,456-9.0%

Participation rate

100.0%

74.5%+25.5pp

69.0%+31.0pp

80.3%+19.7pp

Annual return

12.15%

1923.53%-1911.4pp

1169.05%-1156.9pp

373.45%-361.3pp

Employer contribution / active EE

$6,922

$3,034+128.1%

$2,381+190.7%

$4,753+45.6%

Participant deferral / active EE

$21,537

$4,677+360.5%

$3,986+440.3%

$6,711+220.9%

Admin fee / account holder

$8,284

$8,661-4.4%

$6,853+20.9%

$11,407-27.4%

SCHROTH & LORENSON'S JEWELERS, INC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SCHROTH & LORENSON'S JEWELERS, 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