Retirement plan

REEDS JEWELERS, INC. 401(K) PROFIT SHARING RETIREMENT PLAN

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

REEDS JEWELERS, INC.EIN 56-1441706Plan #001PY 2020

2525 SOUTH 17TH STREET - WILMINGTON, NC 28401910-350-3364reeds.comLinkedIn501-1000 employeesluxury goods & jewelry

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$26M

+9.1% from 2019

Total participants

863

-33.8% from 2019

Average account balance

$33,436

+31.5% from 2019

Annual return

13.50%

-5.42 pp from 2019

Benchmarks

See 1,285 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,285 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$34.90M

Not enough data

1 years with asset history on file

Average account balance

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

$37K

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.

934

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.

84.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.25M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+12.12%

Not enough data

1 years with return on file

Admin fee / account holder

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

$165

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 5 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: GREAT- WEST LIFE & ANNUITY INSURANC Service code 64 8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$48,375
COMMONWEALTH FINANCIAL NETWORK6+ years Service code 27 · EIN 04-2675571 29 SAWYER RD · WALTHAM, MA 024533483	Advisory (Plan)	$45,019
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: ADVISED ASSET GROUP, LLC Service code 28 8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111	Investment Management	$3,455
EPIC RETIREMENT PLAN SERVICES2 years Filed as: QUALIFIED RETIREMENT PLAN SERVICES, Service code 13 2724 DISCOVERY DR., STE 100 · RALEIGH, NC 27616	Contract Administrator	$2,775
QRPS, INC.1 year Service code 13	Contract Administrator	$1,667

Plan features & details

Pension benefit codes2F2E2G2J2K2S2T3D

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.
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

2 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$92K

$143 / participant

Investment mgmt$92K100.0%

% of EOY assets

0.353%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: PBMARES, LLP
Auditor EIN: 540737372
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$33,436

$64,286-48.0%

$90,965-63.2%

$73,412-54.5%

Participation rate

86.8%

63.6%+23.2pp

69.0%+17.7pp

72.2%+14.6pp

Annual return

13.50%

21.46%-8.0pp

134.57%-121.1pp

59.30%-45.8pp

Employer contribution / active EE

$230

$895-74.2%

$2,122-89.1%

$2,234-89.7%

Participant deferral / active EE

$2,936

$2,453+19.7%

$3,373-13.0%

$3,806-22.8%

Admin fee / account holder

$118

$287-58.9%

$5,960-98.0%

$158-25.3%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: GREAT- WEST LIFE & ANNUITY INSURANC

Service code 64

8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$48,375

COMMONWEALTH FINANCIAL NETWORK6+ years

Service code 27 · EIN 04-2675571

29 SAWYER RD · WALTHAM, MA 024533483

Advisory (Plan)

$45,019

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: ADVISED ASSET GROUP, LLC

Service code 28

8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111

Investment Management

$3,455

EPIC RETIREMENT PLAN SERVICES2 years

Filed as: QUALIFIED RETIREMENT PLAN SERVICES,

Service code 13

2724 DISCOVERY DR., STE 100 · RALEIGH, NC 27616

Contract Administrator

$2,775

QRPS, INC.1 year

Service code 13

Contract Administrator

$1,667

REEDS JEWELERS, INC. 401(K) PROFIT SHARING RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

REEDS JEWELERS, INC. 401(K) PROFIT SHARING RETIREMENT 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