Retirement plan

JOHN PAUL MITCHELL SYSTEMS 401(K) & PROFIT SHARING PLAN

Name: JOHN PAUL MITCHELL SYSTEMS - JOHN PAUL MITCHELL SYSTEMS 401(K) & PROFIT SHARING PLAN (2021) Form 5500
Creator: JOHN PAUL MITCHELL SYSTEMS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, JOHN PAUL MITCHELL SYSTEMS 401(K) & PROFIT SHARING PLAN, JOHN PAUL MITCHELL SYSTEMS

JOHN PAUL MITCHELL SYSTEMSEIN 95-3504616Plan #002PY 2021

20705 CENTRE POINTE PARKWAY - SANTA CLARITA, CA 91350661-298-0400

Prospect flagsLow returnsHigh feesFailed to transmit contributions

Top hat statement on fileNQDC

Filed July 8, 2021 (most recent of 3 filings on file)

Plan administrator

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20705 Centre Pointe Parkway

Santa Clarita, CA 91350

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Plans declared (1)

John Paul Mitchell Systems Deferred Compensation Plan13 emp

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Total assets (EOY)

$65.5M

+7.5% from 2020

Total participants

401

+7.2% from 2020

Average account balance

$163,716

-1.7% from 2020

Annual return

12.04%

-5.13 pp from 2020

Benchmarks

See 1,172 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort1,172 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$62.73M

Not enough data

1 years with asset history on file

Average account balance

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

$154K

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.

407

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.

95.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.84M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+13.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$266

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
EP WEALTH ADVISORS LLC3 years Filed as: EP WEALTH ADVISORS INC Service code 27 · EIN 33-0152539	Advisory (Plan)	$61,216
FIDELITY INVESTMENTS INSTITUTIONAL3 years Service code 37 · EIN 04-2647786	Loan Processing	$49,355
STRATEGIC ADVISORS, INC.2 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$13,308

Plan features & details

Pension benefit codes2A2E2F2G2J2K2S2T3H3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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.
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

3 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).

Expense breakdown

Schedule H Part II

Admin total

$125K

$423 / participant

Investment mgmt$15K11.8%
Other / not subdivided$111K88.2%

% of EOY assets

0.191%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HEDMAN PARTNERS LLP
Auditor EIN: 854036357
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$163,716

$93,131+75.8%

$106,555+53.6%

$86,821+88.6%

Participation rate

99.7%

81.4%+18.2pp

76.1%+23.5pp

72.3%+27.4pp

Annual return

12.04%

19.45%-7.4pp

26.80%-14.8pp

97.94%-85.9pp

Employer contribution / active EE

$10,064

$2,895+247.6%

$2,819+257.0%

$2,406+318.3%

Participant deferral / active EE

$6,361

$4,708+35.1%

$4,399+44.6%

$4,132+54.0%

Admin fee / account holder

$313

$145+116.0%

$7,408-95.8%

$170+84.8%

Provider

Service type

Compensation

EP WEALTH ADVISORS LLC3 years

Filed as: EP WEALTH ADVISORS INC

Service code 27 · EIN 33-0152539

Advisory (Plan)

$61,216

FIDELITY INVESTMENTS INSTITUTIONAL3 years

Service code 37 · EIN 04-2647786

Loan Processing

$49,355

STRATEGIC ADVISORS, INC.2 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$13,308

JOHN PAUL MITCHELL SYSTEMS 401(K) & PROFIT SHARING PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

JOHN PAUL MITCHELL SYSTEMS 401(K) & PROFIT SHARING PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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