Retirement plan

FRANK ANTHONY SALON INC 401(K) PROFIT SHARING PLAN AND TRUST

Name: FRANK ANTHONY SALON INC - FRANK ANTHONY SALON INC 401(K) PROFIT SHARING PLAN AND TRUST (2023) Form 5500
Creator: FRANK ANTHONY SALON INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FRANK ANTHONY SALON INC 401(K) PROFIT SHARING PLAN AND TRUST, FRANK ANTHONY SALON INC

FRANK ANTHONY SALON INCEIN 83-0783568Plan #001PY 2023

154 RT 206 - CHESTER, NJ 07930908-879-6211LinkedIn11-50 employeesconsumer services

Prospect flagsHigh feesLow employer contributionLow fidelity bond

How to read this page

Total assets (EOY)

$2.1M

+25.5% from 2022

Total participants

+6.9% from 2022

Average account balance

$85,379

+10.5% from 2022

Annual return

16.81%

+33.48 pp from 2022

Benchmarks

See 9,480 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants25-99

Cohort9,480 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.02M

Not enough data

1 years with asset history on file

Average account balance

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

$121K

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.

73.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$119K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+17.15%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1719

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 codes2E2J2F2G3D2T

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

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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

$12K

$401 / participant

Other / not subdivided$12K100.0%

% of EOY assets

0.564%

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

$85,379

$65,555+30.2%

$86,216-1.0%

$75,173+13.6%

Participation rate

80.0%

60.5%+19.5pp

69.0%+11.0pp

67.2%+12.8pp

Annual return

16.81%

46.07%-29.3pp

1169.42%-1152.6pp

160.72%-143.9pp

Employer contribution / active EE

$65

$1,553-95.8%

$2,382-97.3%

$2,671-97.6%

Participant deferral / active EE

$4,876

$3,023+61.3%

$3,986+22.3%

$4,126+18.2%

Admin fee / account holder

$481

$5,469-91.2%

$6,853-93.0%

$5,651-91.5%

FRANK ANTHONY SALON INC 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FRANK ANTHONY SALON INC 401(K) PROFIT SHARING PLAN AND TRUST

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