Retirement plan

KENNETH'S HAIR SALONS & DAY SPAS, INC. 401(K) PLAN

Name: KENNETH'S HAIR SALONS & DAY SPAS, INC. - KENNETH'S HAIR SALONS & DAY SPAS, INC. 401(K) PLAN (2023) Form 5500
Creator: KENNETH'S HAIR SALONS & DAY SPAS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KENNETH'S HAIR SALONS & DAY SPAS, INC. 401(K) PLAN, KENNETH'S HAIR SALONS & DAY SPAS, INC.

KENNETH'S HAIR SALONS & DAY SPAS, INC.EIN 31-0956790Plan #002PY 2023

5151 REED RD STE 250B - COLUMBUS, OH 432202594614-324-2416LinkedIn11-50 employeesindividual & family services

Other plans on this EIN

1 filing

#004Retirement-$39.6M assets

Prospect flagsLow returnsCorrective distributions

How to read this page

Total assets (EOY)

$11M

+9.9% from 2022

Total participants

280

-4.4% from 2022

Average account balance

$43,823

+14.7% from 2022

Annual return

11.32%

+24.57 pp from 2022

Benchmarks

See 2,283 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,283 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.90M

Not enough data

1 years with asset history on file

Average account balance

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

$52K

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.

249

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.

89.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.03M

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

+13.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$222

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
ASCENSUS LLC6 years Service code 15 · EIN 11-3665754	Recordkeeping	$29,934
ENVESTNET RETIREMENT SOLUTIONS, LLC4 years Filed as: ENVESTNET RETIREMENT SOLUTIONS Service code 13 · EIN 20-1409613	Contract Administrator	$7,605
PRINCIPAL LIFE INSURANCE COMPANY1 year Service code 13 · EIN 42-0127290	Contract Administrator	$4,281
MERRILL LYNCH PIERCE FENNER & SMITH1 year Filed as: MERRILL LYNCH,PIERCE,FENNER & SMITH Service code 28 · EIN 13-5674085	Investment Management	$0

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.

Opportunity flags

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$41K

$169 / participant

Contract admin$41K100.0%

% of EOY assets

0.369%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HILL, BARTH & KING, LLC
Auditor EIN: 341897225
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$43,823

$54,729-19.9%

$86,235-49.2%

$71,529-38.7%

Participation rate

87.9%

60.1%+27.8pp

69.0%+19.0pp

67.9%+20.0pp

Annual return

11.32%

20.07%-8.8pp

1170.03%-1158.7pp

28.97%-17.7pp

Employer contribution / active EE

$1,267-100.0%

$2,381-100.0%

$2,590-100.0%

Participant deferral / active EE

$3,858

$3,110+24.0%

$3,987-3.2%

$4,291-10.1%

Admin fee / account holder

$162

$1,921-91.6%

$6,856-97.6%

$1,588-89.8%

Provider

Service type

Compensation

ASCENSUS LLC6 years

Service code 15 · EIN 11-3665754

Recordkeeping

$29,934

ENVESTNET RETIREMENT SOLUTIONS, LLC4 years

Filed as: ENVESTNET RETIREMENT SOLUTIONS

Service code 13 · EIN 20-1409613

Contract Administrator

$7,605

PRINCIPAL LIFE INSURANCE COMPANY1 year

Service code 13 · EIN 42-0127290

Contract Administrator

$4,281

MERRILL LYNCH PIERCE FENNER & SMITH1 year

Filed as: MERRILL LYNCH,PIERCE,FENNER & SMITH

Service code 28 · EIN 13-5674085

Investment Management

KENNETH'S HAIR SALONS & DAY SPAS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KENNETH'S HAIR SALONS & DAY SPAS, 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