Retirement plan

KITCHEN MART, INC. 401(K) PROFIT SHARING PLAN

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

KITCHEN MART, INC.EIN 68-0370529Plan #001PY 2020

3742 BRADVIEW DR - SACRAMENTO, CA 95827916-362-7080kitchenmatrix.comLinkedIn1-10 employeesdesign

Prospect flagsLow returnsHigh feesFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$3.4M

+5.2% from 2019

Total participants

113

-8.1% from 2019

Average account balance

$37,897

+14.5% from 2019

Annual return

4.70%

-9.94 pp from 2019

Benchmarks

See 92 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Cohort92 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.13M

Not enough data

1 years with asset history on file

Average account balance

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

$56K

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.

95.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$379K

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

+14.25%

Not enough data

1 years with return on file

Admin fee / account holder

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

$11798

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

Top 2 by compensation

Provider	Service type	Compensation
GASBER FINANCIAL ADVISORS1 year Filed as: GASBER FINANCIAL ADVISORS, INC. Service code 26 · EIN 68-0364733 81 BLUE RAVINE RD, SUITE 250 · FOLSOM, CA 95630	Advisory (Participants)	$21,307
ALLIANCE BENEFIT GROUP1 year Filed as: ALLIANCE BENEFIT OF HOUSTON Service code 15 · EIN 76-0500416 7425 HOLLISTER STREET · HOUSTON, TX 77040	Recordkeeping	$13,794

Plan features & details

Pension benefit codes2E2F2G2J2R2S2T3D

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

4 tripped

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.
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

$35K

$355 / participant

Investment mgmt$21K60.7%
Contract admin$11K31.0%
Other / not subdivided$3K8.3%

% of EOY assets

1.018%

all-in expense ratio

Categories reported

2 / 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: BETHKE CPA, LLC
Auditor EIN: 421591506
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,897

$136,791-72.3%

$133,959-71.7%

Participation rate

77.8%

70.8%+6.9pp

79.8%-2.1pp

Annual return

4.70%

9.25%-4.6pp

45.09%-40.4pp

Employer contribution / active EE

$2,431-100.0%

$3,919-100.0%

Participant deferral / active EE

$2,867

$3,586-20.0%

$5,047-43.2%

Admin fee / account holder

$386

$8,409-95.4%

$8,928-95.7%

Provider

Service type

Compensation

GASBER FINANCIAL ADVISORS1 year

Filed as: GASBER FINANCIAL ADVISORS, INC.

Service code 26 · EIN 68-0364733

81 BLUE RAVINE RD, SUITE 250 · FOLSOM, CA 95630

Advisory (Participants)

$21,307

ALLIANCE BENEFIT GROUP1 year

Filed as: ALLIANCE BENEFIT OF HOUSTON

Service code 15 · EIN 76-0500416

7425 HOLLISTER STREET · HOUSTON, TX 77040

Recordkeeping

$13,794

KITCHEN MART, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KITCHEN MART, INC. 401(K) PROFIT SHARING 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