Retirement plan

KITE'S CLEANERS, INC. PROFIT SHARING PLAN

Name: KITE'S CLEANERS, INC. - KITE'S CLEANERS, INC. PROFIT SHARING PLAN (2020) Form 5500
Creator: KITE'S CLEANERS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KITE'S CLEANERS, INC. PROFIT SHARING PLAN, KITE'S CLEANERS, INC.

KITE'S CLEANERS, INC.EIN 75-1482209Plan #001PY 2020

3225 ALTA MERE - FORT WORTH, TX 76116817-732-1419kitescleaners.comLinkedIn11-50 employees

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.3M

-12.2% from 2019

Total participants

+13.0% from 2019

Average account balance

$24,280

-17.0% from 2019

Annual return

13.51%

-6.37 pp from 2019

Benchmarks

See 8,769 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort8,769 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.97M

Not enough data

1 years with asset history on file

Average account balance

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

$30K

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.

158.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$223K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+16.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1242

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

2 tripped

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

$520K

$17924 / participant

Other / not subdivided$520K100.0%

% of EOY assets

39.644%

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

$24,280

$60,128-59.6%

$90,440-73.2%

$79,852-69.6%

Participation rate

75.9%

65.0%+10.9pp

72.7%+3.2pp

69.6%+6.2pp

Annual return

13.51%

71.95%-58.4pp

1294.38%-1280.9pp

31.72%-18.2pp

Employer contribution / active EE

$2,556

$2,068+23.6%

$3,263-21.7%

$2,471+3.4%

Participant deferral / active EE

$2,112

$2,939-28.1%

$3,964-46.7%

$3,740-43.5%

Admin fee / account holder

$9,626

$3,977+142.0%

$5,615+71.4%

$5,306+81.4%

KITE'S CLEANERS, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KITE'S CLEANERS, INC. 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