Retirement plan

GRIFFIN GREENHOUSE SUPPLIES, INC. PROFIT SHARING PLAN AND TRUST

Name: GRIFFIN GREENHOUSE SUPPLIES, INC. - GRIFFIN GREENHOUSE SUPPLIES, INC. PROFIT SHARING PLAN AND TRUST (2024) Form 5500
Creator: GRIFFIN GREENHOUSE SUPPLIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GRIFFIN GREENHOUSE SUPPLIES, INC. PROFIT SHARING PLAN AND TRUST, GRIFFIN GREENHOUSE SUPPLIES, INC.

GRIFFIN GREENHOUSE SUPPLIES, INC.EIN 04-2208956Plan #003PY 2024

P.O. BOX 36 1619 MAIN ST. - TEWKSBURY, MA 01876978-851-4346griffins.comLinkedIn201-500 employeeswholesale

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$35M

+12.5% from 2023

Total participants

346

-2.5% from 2023

Average account balance

$112,097

+13.2% from 2023

Annual return

13.07%

-3.48 pp from 2023

Benchmarks

See 271 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants250-999

Cohort271 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$34.97M

Not enough data

1 years with asset history on file

Average account balance

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

$112K

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.

312

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.

88.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.41M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+13.07%

Not enough data

1 years with return on file

Admin fee / account holder

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

$323

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 4 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$70,329
MASSACHUSETTS MUTUAL LIFE INS. CO.1 year Filed as: MML INVESTORS SERVICES LLC Service code 55 PO BOX 9500 · SPRINGFIELD, MA 011029500	Other Commissions	$60,585
DAY SECKLER LLP8 years Service code 10 300 WESTAGE BUSINESS CENTER DR · FISHKILL, NY 12524	Accounting	$24,200
ENVESTNET RETIREMENT SOLUTIONS, LLC9 years Service code 27 1801 CALIFORNIA ST · DENVER, CO 80202	Advisory (Plan)	$6,122

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$101K

$347 / participant

Recordkeeping$70K69.9%
Investment mgmt$6K6.1%
Other / not subdivided$24K24.0%

% of EOY assets

0.288%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: RBT CPAS, LLP
Auditor EIN: 141604297
Audit fees: $24,200
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$112,097

$72,994+53.6%

$120,354-6.9%

$77,643+44.4%

Participation rate

88.3%

55.2%+33.0pp

71.9%+16.4pp

70.6%+17.7pp

Annual return

13.07%

18.23%-5.2pp

107.15%-94.1pp

31.24%-18.2pp

Employer contribution / active EE

$2,979

$1,793+66.1%

$3,463-14.0%

$2,726+9.3%

Participant deferral / active EE

$5,342

$3,011+77.4%

$4,991+7.0%

$4,647+15.0%

Admin fee / account holder

$323

$658-51.0%

$9,423-96.6%

$430-25.0%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$70,329

MASSACHUSETTS MUTUAL LIFE INS. CO.1 year

Filed as: MML INVESTORS SERVICES LLC

Service code 55

PO BOX 9500 · SPRINGFIELD, MA 011029500

Other Commissions

$60,585

DAY SECKLER LLP8 years

Service code 10

300 WESTAGE BUSINESS CENTER DR · FISHKILL, NY 12524

Accounting

$24,200

ENVESTNET RETIREMENT SOLUTIONS, LLC9 years

Service code 27

1801 CALIFORNIA ST · DENVER, CO 80202

Advisory (Plan)

$6,122

GRIFFIN GREENHOUSE SUPPLIES, INC. PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GRIFFIN GREENHOUSE SUPPLIES, INC. PROFIT SHARING 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