Retirement plan
GE RETIREMENT SAVINGS PLAN
GENERAL ELECTRIC COMPANYEIN 14-0689340Plan #334PY 2020
901 MAIN AVENUE, THE TOWERS AT MERRITT RIVER - NORWALK, CT 06851800-432-3450
Other plans on this EIN
1 filingProspect flagsLow returnsCorrective distributions
Filing contacts
From the Form 5500, federal recordPlan administrator signer
SHANNON MALONEY
Signed 10/14/2021
Plan administrator entity
GENERAL ELECTRIC COMPANY
EIN 140689340
PO BOX 5000 · SCHENECTADY, NY 123015000
Summary metrics
Total assets (EOY)
$27950.6M
-3.0% from 2016
Total participants
176,298
+4.3% from 2016
Average account balance
$160,294
-5.0% from 2016
Annual return
11.49%
+2.01 pp from 2016
Benchmarks
Peer group
Industry33 - Manufacturing
Plan typeDefined contribution
Participants>=10,000
Cohort86 peers
Snapshot2020
66
Participant deferral / active EE
$9,477
median $7,742
56
Employer contribution / active EE
$4,700
median $3,821
55
Participation rate
96.8%
median 96.2%
49
Avg account balance
$160,294
median $160,963
82
Admin fee / account holder
$0
median $59
15
Annual return
11.49%
median 14.41%
Overall peer rank
54of 100
54th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$14.74B
Average account balance
Total assets / participants with a balance (line 6g)
$215K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
68,450
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
98.3%
Contributions (total)
Employer and participant dollars contributed each year
$669.77M
Contributions per participant
Average employer and participant contribution per enrolled participant
$23K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
-20.21%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$16
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 1 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 64 · EIN 04-2647786 | Recordkeeping Fees | $1,317,888 |
Top hat statement on fileNQDC
Filed February 13, 2021 (most recent of 14 filings on file)
Plan administrator
Plan administrator name— Sign in and upgrade to view
901 Main Ave., The Towers at Merritt River
Norwalk, CT 06851
Plans declared (3)
- GE US Executive Severance Plan1,703 emp
- GE Restoration Plan656 emp
- GE Nonqualified Transition Credit Plan2,048 emp
Total covered: 4,407 employees
Plan features & details
Pension benefit codes2E2F2G2J2K2O2S2T3F3H
Plan features
- 2EProfit-sharingProfit-sharing plan.
- 2FERISA section 404(c) planThis plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
- 2GTotal participant-directed account planParticipants 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.
- 2JCode section 401(k) featureCash 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.
- 2KCode section 401(m) arrangementEmployee 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.
- 2OESOP other than a leveraged ESOPEmployee stock ownership plan that is not leveraged.
- 2SAutomatic enrollmentPlan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
- 2TDefault investment accountTotal or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
- 3FLeased employeesPlan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
2 tripped
- OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
- ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- KPMG LLP
- Auditor EIN
- 135565207
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified