Retirement plan

FRANCO'S FINE CLOTHIERS, INC 401K PLAN

Name: FRANCO'S FINE CLOTHIERS, INC - FRANCO'S FINE CLOTHIERS, INC 401K PLAN (2024) Form 5500
Creator: FRANCO'S FINE CLOTHIERS, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FRANCO'S FINE CLOTHIERS, INC 401K PLAN, FRANCO'S FINE CLOTHIERS, INC

FRANCO'S FINE CLOTHIERS, INCEIN 54-1718694Plan #001PY 2024

5321 LAKESIDE AVENUE - HENRICO, VA 23228804-264-2994francos.comLinkedIn51-200 employeesretail

Other plans on this EIN

1 filing

#002Retirement-$969K assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.9M

+5.2% from 2023

Total participants

+21.2% from 2023

Average account balance

$52,731

-18.2% from 2023

Annual return

10.76%

-4.61 pp from 2023

Benchmarks

See 9,339 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants25-99

Cohort9,339 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.90M

Not enough data

1 years with asset history on file

Average account balance

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

$53K

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.

124.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$186K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+10.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$7990

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 codes2E2F2G2J2T3D

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$288K

$9918 / participant

Other / not subdivided$288K100.0%

% of EOY assets

15.152%

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

$52,731

$71,197-25.9%

$93,669-43.7%

$80,925-34.8%

Participation rate

86.2%

60.4%+25.8pp

68.7%+17.5pp

67.7%+18.5pp

Annual return

10.76%

11.27%-0.5pp

133.59%-122.8pp

35.65%-24.9pp

Employer contribution / active EE

$3,364

$1,565+115.0%

$2,424+38.8%

$2,756+22.0%

Participant deferral / active EE

$3,064

$4,036-24.1%

$4,416-30.6%

$4,299-28.7%

Admin fee / account holder

$7,990

$6,959+14.8%

$8,291-3.6%

$6,940+15.1%

FRANCO'S FINE CLOTHIERS, INC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FRANCO'S FINE CLOTHIERS, INC 401K 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