Retirement plan

FIGS 401(K) PLAN

Name: FIGS, INC. - FIGS 401(K) PLAN (2021) Form 5500
Creator: FIGS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIGS 401(K) PLAN, FIGS, INC.

FIGS, INC.EIN 46-2005653Plan #001PY 2021

2834 COLORADO AVE, SUITE 100 - SANTA MONICA, CA 90404818-554-1304wearfigs.comLinkedIn201-500 employeesapparel & fashion

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$5.5M

+115.9% from 2020

Total participants

268

+82.3% from 2020

Average account balance

$21,546

-8.9% from 2020

Annual return

61.24%

+19.42 pp from 2020

Benchmarks

See 452 peers

Peer group

Industry45 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort452 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$19.36M

Not enough data

1 years with asset history on file

Average account balance

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

$46K

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.

421

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.

83.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.20M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+20.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$139

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 3 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY1 year Service code 13 · EIN 42-0127290	Contract Administrator	$22,612
ORENDA RETIREMENT, LLC1 year Service code 13 · EIN 36-4877979	Contract Administrator	$4,650
ORENDA RETIREMENT, LLC1 year Filed as: ORENDA RETIREMENT LLC Service code 13	Contract Administrator	$2,845

Plan features & details

Pension benefit codes2E2J2F2G2R3D2T2S

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

1 tripped

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

$30K

$131 / participant

Contract admin$30K100.0%

% of EOY assets

0.549%

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: SMITH & HOWARD
Auditor EIN: 581250486
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$21,546

$60,488-64.4%

$109,916-80.4%

$79,389-72.9%

Participation rate

94.8%

67.0%+27.8pp

74.2%+20.6pp

70.7%+24.1pp

Annual return

61.24%

189.57%-128.3pp

29.46%+31.8pp

116.89%-55.6pp

Employer contribution / active EE

$4,754

$1,649+188.3%

$2,844+67.1%

$2,428+95.8%

Participant deferral / active EE

$5,881

$3,220+82.6%

$4,047+45.3%

$4,046+45.4%

Admin fee / account holder

$118

$605-80.4%

$6,069-98.1%

$626-81.1%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY1 year

Service code 13 · EIN 42-0127290

Contract Administrator

$22,612

ORENDA RETIREMENT, LLC1 year

Service code 13 · EIN 36-4877979

Contract Administrator

$4,650

ORENDA RETIREMENT, LLC1 year

Filed as: ORENDA RETIREMENT LLC

Service code 13

Contract Administrator

$2,845

FIGS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIGS 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