Paul a. Schmitt Music Company401(k)
SCHMITT * FLEX RETIREMENT SAVINGS PLAN · BLOOMINGTON, MN · plan year 2022
Peer grade: D · admin costs + employer contributions vs same-size plans · how grading works
Paul a. Schmitt Music Company reported $58,359 in plan administrative expenses for 2022: 0.47% of average plan assets, higher than ~75% of peers. Employer contributions averaged $199 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 3 years on file its reported administrative ratio has held roughly steady near 0.48%. The plan sits in the $10M–$50M size bracket, benchmarked here against 26,806 comparable plans and shown alongside other retail trade employers. By assets it is among the smaller plans on file in Minnesota (1,239th of 1,918), and the 2,435th of 5,215 in retail trade. In 2022, employees put in $12.51 for every $1.00 the employer contributed.
Paul a. Schmitt Music Company's 2022 employer contribution ran below the $2,266 median for plans its size, in the bottom quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2022 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
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Source: U.S. Department of Labor, Form 5500 series, EIN 410526620 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.