Retirement plan

SOUTHWEST STRINGS 401(K) PROFIT SHARING PLAN

Name: SOUTHWESTERN STRINGED INSTRUMENTS INC - SOUTHWEST STRINGS 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: SOUTHWESTERN STRINGED INSTRUMENTS INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOUTHWEST STRINGS 401(K) PROFIT SHARING PLAN, SOUTHWESTERN STRINGED INSTRUMENTS INC

SOUTHWESTERN STRINGED INSTRUMENTS INCEIN 86-0463716Plan #003PY 2023

1721 SOUTH CHERRYBELL STRAVENUE - TUCSON, AZ 85713800-528-3430LinkedIn11-50 employeesmusic

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$346K

+58.3% from 2022

Total participants

+20.8% from 2022

Average account balance

$12,361

+30.0% from 2022

Annual return

19.23%

+39.30 pp from 2022

Benchmarks

See 2,313 peers

Peer group

Industry45 - Retail Trade

Plan typeDefined contribution

Participants25-99

Cohort2,313 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$469K

Not enough data

1 years with asset history on file

Average account balance

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

$16K

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.

116.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$70K

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

+15.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

$32

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 codes2E2G2J2T3D2F3H

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

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

$455

$18 / participant

Other / not subdivided$455100.0%

% of EOY assets

0.131%

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

$12,361

$57,541-78.5%

$95,740-87.1%

$75,173-83.6%

Participation rate

96.2%

62.5%+33.6pp

72.3%+23.9pp

67.2%+29.0pp

Annual return

19.23%

34.93%-15.7pp

28.41%-9.2pp

160.72%-141.5pp

Employer contribution / active EE

$1,194

$1,808-34.0%

$2,836-57.9%

$2,671-55.3%

Participant deferral / active EE

$2,093

$3,074-31.9%

$4,244-50.7%

$4,126-49.3%

Admin fee / account holder

$16

$4,099-99.6%

$5,676-99.7%

$5,651-99.7%

SOUTHWEST STRINGS 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUTHWEST STRINGS 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