Retirement plan

LADIES & GENTLEMEN HAIR STYLISTS, INC. 401(K) PLAN

Name: LADIES & GENTLEMEN HAIR STYLISTS, INC. - LADIES & GENTLEMEN HAIR STYLISTS, INC. 401(K) PLAN (2024) Form 5500
Creator: LADIES & GENTLEMEN HAIR STYLISTS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LADIES & GENTLEMEN HAIR STYLISTS, INC. 401(K) PLAN, LADIES & GENTLEMEN HAIR STYLISTS, INC.

LADIES & GENTLEMEN HAIR STYLISTS, INC.EIN 34-1548748Plan #001PY 2024

7009 CENTER STREET - MENTOR, OH 44060440-255-5572

Prospect flagsLow participationLow employer contributionLow fidelity bond

How to read this page

Total assets (EOY)

$5M

+8.5% from 2023

Total participants

205

+5.1% from 2023

Average account balance

$38,429

+20.3% from 2023

Annual return

11.71%

-1.82 pp from 2023

Benchmarks

See 2,067 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort2,067 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$4.96M

Not enough data

1 years with asset history on file

Average account balance

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

$38K

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.

129

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.

51.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$342K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+11.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$242

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
CETERA ADVISOR NETWORKS LLC4 years Filed as: CETERA RETIREMENT PLAN SPECIALISTS Service code 15 · EIN 94-2279761	Recordkeeping	$13,773
FOURTH DIMENSION WEALTH LLC1 year Service code 27 · EIN 27-4624339	Advisory (Plan)	$10,069
CETERA ADVISOR NETWORKS LLC1 year Filed as: CETERA INVESTMENT ADVISORS LLC Service code 27 · EIN 36-3258176	Advisory (Plan)	$6,738
TRANSAMERICA RETIREMENT SOLUTIONS10+ years Filed as: TRANSAMERICA LIFE INSURANCE COMPANY Service code 15 · EIN 39-0989781	Recordkeeping	$5,794
LEAFHOUSE FINANCIAL ADVISORS, LLC4 years Service code 27 · EIN 26-4311657	Advisory (Plan)	$2,737

Plan features & details

Pension benefit codes2A2E2F2G2J2K2S2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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).

Expense breakdown

Schedule H Part II

Admin total

$31K

$200 / participant

Recordkeeping$4K12.8%
Investment mgmt$13K43.1%
Contract admin$14K44.1%

% of EOY assets

0.630%

all-in expense ratio

Categories reported

3 / 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: CBIZ CPAS P.C.
Auditor EIN: 431947695
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$38,429

$60,323-36.3%

$81,812-53.0%

$74,495-48.4%

Participation rate

51.3%

62.9%-11.6pp

72.3%-21.1pp

67.2%-15.9pp

Annual return

11.71%

16.90%-5.2pp

773.79%-762.1pp

1364.94%-1353.2pp

Employer contribution / active EE

$2,620-100.0%

$2,912-100.0%

$2,623-100.0%

Participant deferral / active EE

$2,194

$3,387-35.2%

$4,319-49.2%

$4,346-49.5%

Admin fee / account holder

$242

$1,486-83.7%

$7,386-96.7%

$1,942-87.5%

Provider

Service type

Compensation

CETERA ADVISOR NETWORKS LLC4 years

Filed as: CETERA RETIREMENT PLAN SPECIALISTS

Service code 15 · EIN 94-2279761

Recordkeeping

$13,773

FOURTH DIMENSION WEALTH LLC1 year

Service code 27 · EIN 27-4624339

Advisory (Plan)

$10,069

CETERA ADVISOR NETWORKS LLC1 year

Filed as: CETERA INVESTMENT ADVISORS LLC

Service code 27 · EIN 36-3258176

Advisory (Plan)

$6,738

TRANSAMERICA RETIREMENT SOLUTIONS10+ years

Filed as: TRANSAMERICA LIFE INSURANCE COMPANY

Service code 15 · EIN 39-0989781

Recordkeeping

$5,794

LEAFHOUSE FINANCIAL ADVISORS, LLC4 years

Service code 27 · EIN 26-4311657

Advisory (Plan)

$2,737

LADIES & GENTLEMEN HAIR STYLISTS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LADIES & GENTLEMEN HAIR STYLISTS, 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