Retirement plan

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

Name: KAREN KANE, INC. - KAREN KANE, INC. 401(K) PROFIT SHARING PLAN (2022) 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 2022

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

Prospect flagsHigh feesLow employer contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$8.6M

-22.7% from 2021

Total participants

201

+5.2% from 2021

Average account balance

$43,861

-27.5% from 2021

Annual return

-14.47%

-25.30 pp from 2021

Benchmarks

See 936 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort936 peers

Snapshot2022

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
ECONOMIC GROUP PENSION SERVICES1 year Filed as: ECONOMIC GROUP PENSION SERVICES, IN Service code 13 917 WESTERN AMERICA CIRCLE, STE 500 · MOBILE, AL 36609	Contract Administrator	$855,000
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE CO. Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$37,102
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$32,995
RBC WEALTH MANAGEMENT3 years Filed as: RBC CAPITAL MARKET, LLC Service code 27 60 S. 6TH ST. COMMISSIONS ACCTG · MINNEAPOLIS, MN 55402	Advisory (Plan)	$19,611
ECONOMIC GROUP PENSION SERVICES2 years Service code 13	Contract Administrator	$3,492

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

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.)
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

$142K

$1089 / participant

Investment mgmt$20K13.9%
Other / not subdivided$122K86.1%

% of EOY assets

1.655%

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

$43,861

$50,199-12.6%

$69,890-37.2%

$66,949-34.5%

Participation rate

95.4%

66.3%+29.0pp

70.5%+24.9pp

69.8%+25.6pp

Annual return

-14.47%

-13.85%-0.6pp

190.84%-205.3pp

1.57%-16.0pp

Employer contribution / active EE

$453

$1,864-75.7%

$2,560-82.3%

$2,545-82.2%

Participant deferral / active EE

$2,899

$3,112-6.9%

$3,848-24.7%

$4,239-31.6%

Admin fee / account holder

$726

$600+21.0%

$6,267-88.4%

$594+22.3%

Provider

Service type

Compensation

ECONOMIC GROUP PENSION SERVICES1 year

Filed as: ECONOMIC GROUP PENSION SERVICES, IN

Service code 13

917 WESTERN AMERICA CIRCLE, STE 500 · MOBILE, AL 36609

Contract Administrator

$855,000

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE CO.

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$37,102

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$32,995

RBC WEALTH MANAGEMENT3 years

Filed as: RBC CAPITAL MARKET, LLC

Service code 27

60 S. 6TH ST. COMMISSIONS ACCTG · MINNEAPOLIS, MN 55402

Advisory (Plan)

$19,611

ECONOMIC GROUP PENSION SERVICES2 years

Service code 13

Contract Administrator

$3,492

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