Retirement plan

MICHAEL MATTHEWS JEWELERS OF KPM, INC. 401(K) PROFIT SHARING PLAN

Name: MICHAEL MATTHEWS JEWELERS OF KPM, INC. - MICHAEL MATTHEWS JEWELERS OF KPM, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: MICHAEL MATTHEWS JEWELERS OF KPM, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MICHAEL MATTHEWS JEWELERS OF KPM, INC. 401(K) PROFIT SHARING PLAN, MICHAEL MATTHEWS JEWELERS OF KPM, INC.

MICHAEL MATTHEWS JEWELERS OF KPM, INC.EIN 26-3592858Plan #001PY 2024

5100 KINGS PLAZA MALL - BROOKLYN, NY 11234917-559-6988michaelmatthewskpm.comLinkedIn1-10 employeesluxury goods & jewelry

Prospect flagsLow employer contributionLow fidelity bond

How to read this page

Total assets (EOY)

$263K

+25.8% from 2023

Total participants

0.0% from 2023

Average account balance

$131,366

+25.8% from 2023

Annual return

10.83%

-3.80 pp from 2023

Benchmarks

See 22,347 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort22,347 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$263K

Not enough data

1 years with asset history on file

Average account balance

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

$131K

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

$31K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+10.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2E2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

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

$131,366

$111,787+17.5%

$93,681+40.2%

$145,978-10.0%

Participation rate

100.0%

74.2%+25.8pp

68.7%+31.3pp

80.3%+19.7pp

Annual return

10.83%

203.52%-192.7pp

133.47%-122.6pp

550.52%-539.7pp

Employer contribution / active EE

$3,093-100.0%

$2,422-100.0%

$4,662-100.0%

Participant deferral / active EE

$15,600

$4,918+217.2%

$4,415+253.3%

$6,690+133.2%

Admin fee / account holder

$10,256-100.0%

$8,290-100.0%

$13,400-100.0%

MICHAEL MATTHEWS JEWELERS OF KPM, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

MICHAEL MATTHEWS JEWELERS OF KPM, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion