Retirement plan

THE MUSIC EMPORIUM, INC. 401(K) PLAN

Name: THE MUSIC EMPORIUM, INC. - THE MUSIC EMPORIUM, INC. 401(K) PLAN (2024) Form 5500
Creator: THE MUSIC EMPORIUM, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE MUSIC EMPORIUM, INC. 401(K) PLAN, THE MUSIC EMPORIUM, INC.

THE MUSIC EMPORIUM, INC.EIN 25-1637956Plan #001PY 2024

2606 PLANK ROAD - ALTOONA, PA 16601814-943-5023musicemporiuminc.comLinkedIn1-10 employeesmusic

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.1M

+8.8% from 2023

Total participants

+21.4% from 2023

Average account balance

$70,047

-4.8% from 2023

Annual return

13.61%

-3.80 pp from 2023

Benchmarks

See 10,317 peers

Peer group

Industry45 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort10,317 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.12M

Not enough data

1 years with asset history on file

Average account balance

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

$70K

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.

123.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$46K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+13.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6004

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

1 tripped

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

$96K

$7390 / participant

Other / not subdivided$96K100.0%

% of EOY assets

8.572%

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

$70,047

$110,039-36.3%

$97,260-28.0%

$145,884-52.0%

Participation rate

92.3%

75.9%+16.4pp

72.7%+19.6pp

80.3%+12.0pp

Annual return

13.61%

244.44%-230.8pp

75.54%-61.9pp

551.85%-538.2pp

Employer contribution / active EE

$1,009

$3,074-67.2%

$2,721-62.9%

$4,662-78.4%

Participant deferral / active EE

$2,523

$4,674-46.0%

$4,262-40.8%

$6,690-62.3%

Admin fee / account holder

$6,004

$6,204-3.2%

$5,640+6.5%

$13,392-55.2%

THE MUSIC EMPORIUM, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE MUSIC EMPORIUM, 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