Retirement plan

KAREN KANE, INC. 401(K) PROFIT SHARING PLAN

Name: KAREN KANE, INC. - KAREN KANE, INC. 401(K) PROFIT SHARING PLAN (2021) Form 5500
Creator: KAREN KANE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KAREN KANE, INC. 401(K) PROFIT SHARING PLAN, KAREN KANE, INC.

KAREN KANE, INC.EIN 95-3579007Plan #003PY 2021

2275 EAST 37TH STREET - VERNON, CA 90058323-588-0000karenkane.comLinkedIn51-200 employeesapparel & fashion

Prospect flagsLow returnsHigh feesLow employer contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$11.1M

+12.3% from 2020

Total participants

191

-0.5% from 2020

Average account balance

$60,482

+8.0% from 2020

Annual return

10.83%

+1.60 pp from 2020

Benchmarks

See 946 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort946 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.11M

Not enough data

1 years with asset history on file

Average account balance

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

$44K

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.

261

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.

0.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$414K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+11.28%

Not enough data

1 years with return on file

Admin fee / account holder

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

$104

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 7 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: ADVISED ASSETS GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$37,102
GREAT-WEST LIFE & ANNUITY INSURANCE5 years Filed as: GREAT WEST LIFE & ANNUITY INSURANCE Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$36,967
KAUFMAN ROSSIN & CO1 year Filed as: KAUFMAN & KABANI, CPA Service code 10 1200 WILSHIRE BLVD., SUITE 402 · LOS ANGELES, CA 90017	Accounting	$22,000
RBC WEALTH MANAGEMENT1 year Filed as: RBC CAPITAL MARKETS, LLC Service code 99 60 S. 6TH STREET · MINNEAPOLIS, MN 55402	Other Fees	$21,693
ECONOMIC GROUP PENSION SERVICES1 year Service code 13 917 WESTERN AMERICA CIRCLE, ST. 500 · MOBILE, AL 36609	Contract Administrator	$6,943
PLAN ADMINISTRATION AND DESIGN, INC2 years Filed as: PLAN ADMINISTRATION & DESIGN Service code 13 14618 VENTURA BLVD. SUITE 408 · ENCINO, CA 91436	Contract Administrator	$4,116
PLAN ADMINISTRATION AND DESIGN, INC7+ years Service code 13	Contract Administrator	$2,065

Plan features & details

Pension benefit codes2E2F2G2J2K2S3D3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

4 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.)
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

$153K

$1248 / participant

Investment mgmt$22K14.1%
Other / not subdivided$132K85.9%

% of EOY assets

1.387%

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: LEE CPA AUDIT GROUP
Auditor EIN: 814637885
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$60,482

$59,584+1.5%

$86,625-30.2%

$79,389-23.8%

Participation rate

93.5%

67.7%+25.8pp

71.6%+21.8pp

70.7%+22.8pp

Annual return

10.83%

23.15%-12.3pp

63.52%-52.7pp

116.89%-106.1pp

Employer contribution / active EE

$421

$1,768-76.2%

$2,496-83.1%

$2,428-82.7%

Participant deferral / active EE

$2,301

$3,036-24.2%

$3,700-37.8%

$4,046-43.1%

Admin fee / account holder

$839

$604+38.8%

$5,830-85.6%

$626+33.9%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: ADVISED ASSETS GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$37,102

GREAT-WEST LIFE & ANNUITY INSURANCE5 years

Filed as: GREAT WEST LIFE & ANNUITY INSURANCE

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$36,967

KAUFMAN ROSSIN & CO1 year

Filed as: KAUFMAN & KABANI, CPA

Service code 10

1200 WILSHIRE BLVD., SUITE 402 · LOS ANGELES, CA 90017

Accounting

$22,000

RBC WEALTH MANAGEMENT1 year

Filed as: RBC CAPITAL MARKETS, LLC

Service code 99

60 S. 6TH STREET · MINNEAPOLIS, MN 55402

Other Fees

$21,693

ECONOMIC GROUP PENSION SERVICES1 year

Service code 13

917 WESTERN AMERICA CIRCLE, ST. 500 · MOBILE, AL 36609

Contract Administrator

$6,943

PLAN ADMINISTRATION AND DESIGN, INC2 years

Filed as: PLAN ADMINISTRATION & DESIGN

Service code 13

14618 VENTURA BLVD. SUITE 408 · ENCINO, CA 91436

Contract Administrator

$4,116

PLAN ADMINISTRATION AND DESIGN, INC7+ years

Service code 13

Contract Administrator

$2,065

KAREN KANE, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KAREN KANE, INC. 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