Retirement plan

DIAMOND ELITE 401K PLAN

Name: DIAMOND ELITE MERCHANT SOLUTIONS, LLC - DIAMOND ELITE 401K PLAN (2024) Form 5500
Creator: DIAMOND ELITE MERCHANT SOLUTIONS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DIAMOND ELITE 401K PLAN, DIAMOND ELITE MERCHANT SOLUTIONS, LLC

DIAMOND ELITE MERCHANT SOLUTIONS, LLCEIN 26-2427581Plan #001PY 2024

184 NORTH AVENUE EAST STE 200 - CRANFORD, NJ 07016973-320-5740diamondelitems.comLinkedIn1-10 employeesmanagement consulting

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$437K

+26.6% from 2023

Total participants

+18.2% from 2023

Average account balance

$33,641

+7.1% from 2023

Annual return

10.02%

-5.50 pp from 2023

Benchmarks

See 23,862 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,862 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$437K

Not enough data

1 years with asset history on file

Average account balance

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

$34K

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.

162.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$121K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+10.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5030

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 codes2E2F2G2J2R3B3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

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

$65K

$8175 / participant

Other / not subdivided$65K100.0%

% of EOY assets

14.953%

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

$33,641

$166,242-79.8%

$165,071-79.6%

$145,884-76.9%

Participation rate

100.0%

82.0%+18.0pp

78.6%+21.4pp

80.3%+19.7pp

Annual return

10.02%

100.44%-90.4pp

70.17%-60.2pp

551.85%-541.8pp

Employer contribution / active EE

$10,376

$5,283+96.4%

$4,347+138.7%

$4,662+122.6%

Participant deferral / active EE

$4,735

$6,964-32.0%

$6,035-21.5%

$6,690-29.2%

Admin fee / account holder

$5,030

$16,658-69.8%

$12,695-60.4%

$13,392-62.4%

DIAMOND ELITE 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DIAMOND ELITE 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