Retirement plan

PLANET FITNESS 401(K) PLAN

Name: PLA-FIT FRANCHISE, LLC - PLANET FITNESS 401(K) PLAN (2021) Form 5500
Creator: PLA-FIT FRANCHISE, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PLANET FITNESS 401(K) PLAN, PLA-FIT FRANCHISE, LLC

PLA-FIT FRANCHISE, LLCEIN 59-3764075Plan #001PY 2021

4 LIBERTY LANE WEST - HAMPTON, NH 03842603-750-0001LinkedIn501-1000 employeesrecreational facilities and services

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$23.9M

+33.7% from 2020

Total participants

1,117

-1.7% from 2020

Average account balance

$71,907

+30.9% from 2020

Annual return

31.03%

+11.74 pp from 2020

Benchmarks

See 118 peers

Peer group

Industry71 - Arts, Entertainment, and Recreation

Plan typeDefined contribution

Participants1,000-4,999

Cohort118 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$37.27M

Not enough data

1 years with asset history on file

Average account balance

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

$65K

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.

571

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.

17.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.72M

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

+15.55%

Not enough data

1 years with return on file

Admin fee / account holder

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

$176

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 2 by compensation

Provider	Service type	Compensation
MESIROW FINANCIAL INVESTMENT MANAGE7+ years Service code 27 · EIN 36-3429599	Advisory (Plan)	$62,833
PRINCIPAL LIFE INSURANCE COMPANY6 years Service code 13 · EIN 42-0127290	Contract Administrator	$8,229

Plan features & details

Pension benefit codes2E2F2G2J2T3D3F

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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$71K

$68 / participant

Investment mgmt$63K88.4%
Contract admin$8K11.6%

% of EOY assets

0.298%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$71,907

$62,943+14.2%

$142,898-49.7%

$93,010-22.7%

Participation rate

24.5%

63.3%-38.8pp

72.0%-47.4pp

73.9%-49.4pp

Annual return

31.03%

16.28%+14.8pp

5639.64%-5608.6pp

158.70%-127.7pp

Employer contribution / active EE

$814

$1,374-40.7%

$4,146-80.4%

$2,705-69.9%

Participant deferral / active EE

$1,712

$2,841-39.7%

$3,838-55.4%

$4,561-62.5%

Admin fee / account holder

$214

$103+108.4%

$6,560-96.7%

$152+41.1%

Provider

Service type

Compensation

MESIROW FINANCIAL INVESTMENT MANAGE7+ years

Service code 27 · EIN 36-3429599

Advisory (Plan)

$62,833

PRINCIPAL LIFE INSURANCE COMPANY6 years

Service code 13 · EIN 42-0127290

Contract Administrator

$8,229

PLANET FITNESS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PLANET FITNESS 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