Retirement plan

NORMS RESTAURANTS, LLC 401K PROFIT SHARING PLAN

Name: NORMS RESTAURANTS, LLC - NORMS RESTAURANTS, LLC 401K PROFIT SHARING PLAN (2018) Form 5500
Creator: NORMS RESTAURANTS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORMS RESTAURANTS, LLC 401K PROFIT SHARING PLAN, NORMS RESTAURANTS, LLC

NORMS RESTAURANTS, LLCEIN 95-1959935Plan #001PY 2018

17904 LAKEWOOD BLVD. - BELLFLOWER, CA 90706562-804-4485norms.comLinkedIn1001-5000 employeesrestaurants

Prospect flagsHigh feesLow participationLow employer contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$10.2M

-11.3% from 2017

Total participants

1,422

+2.9% from 2017

Average account balance

$29,680

+209.1% from 2017

Annual return

-7.05%

-22.98 pp from 2017

Benchmarks

See 282 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort282 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.08M

Not enough data

1 years with asset history on file

Average account balance

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

$11K

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.

1,296

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.

91.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.78M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+10.29%

Not enough data

1 years with return on file

Admin fee / account holder

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

$103

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 6 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 42-0127290	Contract Administrator	$77,845
SBSF1 year Service code 13 · EIN 27-3232902	Contract Administrator	$28,843
PAPILLON PRINTING, LLC2 years Filed as: PAPILLON PRINTING Service code 13 · EIN 81-5183995	Contract Administrator	$21,487
COOPER SAVAS LLC1 year Filed as: COOPER WILLIAMS Service code 10 · EIN 26-3537149	Accounting	$14,998
ORENDA RETIREMENT, LLC1 year Filed as: ORENDA RETIREMENT LLC Service code 10 · EIN 36-4877979	Accounting	$5,927
PAPILLON PRINTING, LLC1 year Filed as: PAPILLON PRINTING LLC Service code 13	Contract Administrator	$585

Plan features & details

Pension benefit codes2E2J2K2F2G3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.)
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

$120K

$85 / participant

Contract admin$105K87.5%
Other / not subdivided$15K12.5%

% of EOY assets

1.181%

all-in expense ratio

Categories reported

1 / 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: COOPER WILLIAMS, LLC
Auditor EIN: 273637149
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$29,680

$23,119+28.4%

$71,086-58.2%

$75,289-60.6%

Participation rate

24.1%

36.3%-12.2pp

54.7%-30.5pp

72.4%-48.3pp

Annual return

-7.05%

-3.32%-3.7pp

650.59%-657.6pp

-0.04%-7.0pp

Employer contribution / active EE

$399-99.9%

$1,088-100.0%

$2,405-100.0%

Participant deferral / active EE

$524

$960-45.4%

$1,874-72.0%

$3,739-86.0%

Admin fee / account holder

$351

$89+291.8%

$3,082-88.6%

$102+242.7%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY4+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$77,845

SBSF1 year

Service code 13 · EIN 27-3232902

Contract Administrator

$28,843

PAPILLON PRINTING, LLC2 years

Filed as: PAPILLON PRINTING

Service code 13 · EIN 81-5183995

Contract Administrator

$21,487

COOPER SAVAS LLC1 year

Filed as: COOPER WILLIAMS

Service code 10 · EIN 26-3537149

Accounting

$14,998

ORENDA RETIREMENT, LLC1 year

Filed as: ORENDA RETIREMENT LLC

Service code 10 · EIN 36-4877979

Accounting

$5,927

PAPILLON PRINTING, LLC1 year

Filed as: PAPILLON PRINTING LLC

Service code 13

Contract Administrator

$585

NORMS RESTAURANTS, LLC 401K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORMS RESTAURANTS, LLC 401K 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