Retirement plan

JOHN GALT STAFFING, INC. RETIREMENT SAVINGS PLAN

Name: JOHN GALT STAFFING, INC. - JOHN GALT STAFFING, INC. RETIREMENT SAVINGS PLAN (2022) Form 5500
Creator: JOHN GALT STAFFING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, JOHN GALT STAFFING, INC. RETIREMENT SAVINGS PLAN, JOHN GALT STAFFING, INC.

JOHN GALT STAFFING, INC.EIN 04-3374474Plan #001PY 2022

77 SOUTH BEDFORD ST., SUITE 325 - BURLINGTON, MA 01803781-273-9995

Prospect flagsLow returnsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$12.2M

-19.7% from 2021

Total participants

167

-4.6% from 2021

Average account balance

$75,949

-13.2% from 2021

Annual return

-19.43%

-32.56 pp from 2021

Benchmarks

See 1,189 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants100-249

Cohort1,189 peers

Snapshot2022

See peer percentile detail. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Analytics

Total assets (EOY)

Plan-year ending balance

$17.16M

Not enough data

1 years with asset history on file

Average account balance

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

$100K

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.

171

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.

86.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.50M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+13.64%

Not enough data

1 years with return on file

Admin fee / account holder

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

$197

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Service providers

Top 4 by compensation

Provider	Service type	Compensation
NATIONWIDE7 years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$82,685
J W COLE FINANCIAL INC2 years Filed as: JW COLE FINANCIAL, INC. Service code 55 4301 ANCHOR PLAZA PKWY · TAMPA, FL 33634	Other Commissions	$46,771
PENSION ASSURANCE LLP7 years Filed as: THE PENSION SERVICE INC Service code 15 468 GREAT ROAD · ACTON, MA 01720	Recordkeeping	$19,604
J W COLE FINANCIAL INC2 years Filed as: JW COLE INS SERVICES, INC. Service code 55 4301 ANCHOR PLAZA PKWY, SUITE 450 · TAMPA, FL 33634	Other Commissions	$2,923

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D3H

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.
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

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

$102K

$930 / participant

Other / not subdivided$102K100.0%

% of EOY assets

0.837%

all-in expense ratio

Categories reported

0 / 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: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$75,949

$37,393+103.1%

$77,024-1.4%

$66,914+13.5%

Participation rate

94.5%

52.9%+41.7pp

67.9%+26.6pp

69.8%+24.7pp

Annual return

-19.43%

-3.29%-16.1pp

42.32%-61.7pp

1.58%-21.0pp

Employer contribution / active EE

$5,388

$1,531+251.9%

$2,812+91.6%

$2,544+111.8%

Participant deferral / active EE

$5,510

$2,617+110.5%

$4,426+24.5%

$4,237+30.0%

Admin fee / account holder

$635

$567+12.1%

$5,425-88.3%

$593+7.1%

Provider

Service type

Compensation

NATIONWIDE7 years

Service code 15

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$82,685

J W COLE FINANCIAL INC2 years

Filed as: JW COLE FINANCIAL, INC.

Service code 55

4301 ANCHOR PLAZA PKWY · TAMPA, FL 33634

Other Commissions

$46,771

PENSION ASSURANCE LLP7 years

Filed as: THE PENSION SERVICE INC

Service code 15

468 GREAT ROAD · ACTON, MA 01720

Recordkeeping

$19,604

J W COLE FINANCIAL INC2 years

Filed as: JW COLE INS SERVICES, INC.

Service code 55

4301 ANCHOR PLAZA PKWY, SUITE 450 · TAMPA, FL 33634

Other Commissions

$2,923

JOHN GALT STAFFING, INC. RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

JOHN GALT STAFFING, INC. RETIREMENT SAVINGS 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