Retirement plan

LA KOREANA INC. 401(K) PLAN AND TRUST

Name: L.A. KOREANA, INC. - LA KOREANA INC. 401(K) PLAN AND TRUST (2024) Form 5500
Creator: L.A. KOREANA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LA KOREANA INC. 401(K) PLAN AND TRUST, L.A. KOREANA, INC.

L.A. KOREANA, INC.EIN 95-4302691Plan #001PY 2024

4353 EAST WILLOW STREET - LONG BEACH, CA 90815562-986-5369LinkedIn201-500 employeeshospitality

Prospect flagsLow returnsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$2.1M

+4.1% from 2023

Total participants

282

-10.5% from 2023

Average account balance

$20,523

+29.3% from 2023

Annual return

8.58%

-3.44 pp from 2023

Benchmarks

See 1,429 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants100-249

Cohort1,429 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.11M

Not enough data

1 years with asset history on file

Average account balance

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

$21K

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.

103

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.

27.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$271K

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

+8.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$117

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 3 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.3 years Filed as: WELLS FARGO CLEARING SERVICES, LLC Service code 99 · EIN 34-1542819 1000 HARBOR BLVD FL 8 · WEEHAWKEN, NJ 07086	Other Fees	$6,327
BENEFIT EQUITY, INC.3 years Service code 49	Other Services	$1,026
MORNINGSTAR3 years Service code 27	Advisory (Plan)	$311

Plan features & details

Pension benefit codes2F2G2J2K3D2E2T

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.
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.

Opportunity flags

3 tripped

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

$12K

$49 / participant

Contract admin$12K100.0%

% of EOY assets

0.572%

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: SINGERLEWAK, LLP
Auditor EIN: 952302617
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$20,523

$30,423-32.5%

$56,025-63.4%

$74,478-72.4%

Participation rate

27.5%

32.9%-5.4pp

52.5%-25.0pp

67.2%-39.7pp

Annual return

8.58%

24.97%-16.4pp

1712.69%-1704.1pp

1370.56%-1362.0pp

Employer contribution / active EE

$152

$610-75.0%

$1,042-85.4%

$2,626-94.2%

Participant deferral / active EE

$944

$1,176-19.8%

$1,955-51.7%

$4,350-78.3%

Admin fee / account holder

$117

$2,363-95.0%

$2,828-95.8%

$1,946-94.0%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.3 years

Filed as: WELLS FARGO CLEARING SERVICES, LLC

Service code 99 · EIN 34-1542819

1000 HARBOR BLVD FL 8 · WEEHAWKEN, NJ 07086

Other Fees

$6,327

BENEFIT EQUITY, INC.3 years

Service code 49

Other Services

$1,026

MORNINGSTAR3 years

Service code 27

Advisory (Plan)

$311

LA KOREANA INC. 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LA KOREANA INC. 401(K) PLAN AND TRUST

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