Retirement plan

403(B) THRIFT PLAN OF THE LOFT, INC.

Name: THE LOFT, INC. - 403(B) THRIFT PLAN OF THE LOFT, INC. (2023) Form 5500
Creator: THE LOFT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN OF THE LOFT, INC., THE LOFT, INC.

THE LOFT, INC.EIN 41-1297735Plan #003PY 2023

1011 WASHINGTON AVE S, STE 200 - MINNEAPOLIS, MN 554151263612-215-2575

Prospect flagsLow returnsHigh feesLow employer contribution

How to read this page

Total assets (EOY)

$1.1M

+3.9% from 2022

Total participants

0.0% from 2022

Average account balance

$51,638

+3.9% from 2022

Annual return

9.30%

+26.01 pp from 2022

Benchmarks

See 41,776 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort41,776 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.75M

Not enough data

1 years with asset history on file

Average account balance

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

$76K

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.

287.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$60K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+50.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$923

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 codes2F2G2T3D2L

Plan features

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
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 employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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.

Expense breakdown

Schedule H Part II

Admin total

$99K

$12334 / participant

Other / not subdivided$99K100.0%

% of EOY assets

8.686%

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

$51,638

$96,691-46.6%

$86,656-40.4%

$139,487-63.0%

Participation rate

100.0%

74.4%+25.6pp

71.7%+28.3pp

80.3%+19.7pp

Annual return

9.30%

106.87%-97.6pp

593.09%-583.8pp

373.84%-364.5pp

Employer contribution / active EE

$3,267-100.0%

$3,025-100.0%

$4,755-100.0%

Participant deferral / active EE

$5,012

$4,838+3.6%

$4,439+12.9%

$6,713-25.3%

Admin fee / account holder

$4,485

$6,414-30.1%

$5,619-20.2%

$11,407-60.7%

403(B) THRIFT PLAN OF THE LOFT, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN OF THE LOFT, INC.

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