Retirement plan

M & G JEWELERS, INC. 401(K) PLAN

Name: M & G JEWELERS, INC. - M & G JEWELERS, INC. 401(K) PLAN (2020) Form 5500
Creator: M & G JEWELERS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, M & G JEWELERS, INC. 401(K) PLAN, M & G JEWELERS, INC.

M & G JEWELERS, INC.EIN 33-0852382Plan #001PY 2020

10823 EDISON CT. - RANCHO CUCAMONGA, CA 91730909-989-2929mandgjewelers.comLinkedIn51-200 employeesluxury goods & jewelry

Prospect flagsLow returnsHigh feesLow participationLow fidelity bondFailed to transmit contributions

How to read this page

Total assets (EOY)

$2M

+5.4% from 2019

Total participants

-6.7% from 2019

Average account balance

$37,926

+27.7% from 2019

Annual return

8.11%

-16.42 pp from 2019

Benchmarks

See 9,209 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,209 peers

Snapshot2020

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Analytics

Total assets (EOY)

Plan-year ending balance

$3.36M

Not enough data

1 years with asset history on file

Average account balance

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

$93K

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.

62.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$267K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+15.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2372

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE4 years Service code 64 · EIN 84-0467907 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$20,985
WRIGHT FORD YOUNG & CO2 years Service code 10 16140 SAND CANYON AVE · IRVINE, CA 92618	Accounting	$9,500
CROSSPLANS1 year Service code 13 23041 AVENIDA DE LA CARLOTA · LAGUNA HILLS, CA 92653	Contract Administrator	$8,624
NORTHWESTERN MUTUAL INVESTMENT SERV3 years Filed as: NORTHWESTERN MUTUAL INVESTMENT SVCS Service code 55 720 E WISCONSIN AVE · MILWAUKEE, WI 53202	Other Commissions	$8,441

Plan features & details

Pension benefit codes2E2G2J2K2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return 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).
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$37K

$543 / participant

Contract admin$37K100.0%

% of EOY assets

1.899%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: WRIGHT FORD YOUNG & CO
Auditor EIN: 953288054
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,926

$91,552-58.6%

$133,956-71.7%

$79,858-52.5%

Participation rate

55.1%

73.3%-18.3pp

79.8%-24.8pp

69.6%-14.6pp

Annual return

8.11%

61.85%-53.7pp

45.09%-37.0pp

31.71%-23.6pp

Employer contribution / active EE

$889

$2,384-62.7%

$3,919-77.3%

$2,471-64.0%

Participant deferral / active EE

$2,279

$3,733-38.9%

$5,048-54.8%

$3,740-39.1%

Admin fee / account holder

$720

$6,321-88.6%

$8,927-91.9%

$5,306-86.4%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE4 years

Service code 64 · EIN 84-0467907

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$20,985

WRIGHT FORD YOUNG & CO2 years

Service code 10

16140 SAND CANYON AVE · IRVINE, CA 92618

Accounting

$9,500

CROSSPLANS1 year

Service code 13

23041 AVENIDA DE LA CARLOTA · LAGUNA HILLS, CA 92653

Contract Administrator

$8,624

NORTHWESTERN MUTUAL INVESTMENT SERV3 years

Filed as: NORTHWESTERN MUTUAL INVESTMENT SVCS

Service code 55

720 E WISCONSIN AVE · MILWAUKEE, WI 53202

Other Commissions

$8,441

M & G JEWELERS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

M & G 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