Retirement plan

GRANITE TELECOMMUNICATIONS 401(K) PLAN

Name: GRANITE TELECOMMUNICATIONS, LLC - GRANITE TELECOMMUNICATIONS 401(K) PLAN (2024) Form 5500
Creator: GRANITE TELECOMMUNICATIONS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GRANITE TELECOMMUNICATIONS 401(K) PLAN, GRANITE TELECOMMUNICATIONS, LLC

GRANITE TELECOMMUNICATIONS, LLCEIN 04-3643290Plan #001PY 2024

1 HERITAGE DR - QUINCY, MA 02171617-837-4444granitenet.comLinkedIn1001-5000 employeestelecommunications

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$198.4M

+19.0% from 2023

Total participants

2,642

-5.5% from 2023

Average account balance

$85,129

+23.2% from 2023

Annual return

16.50%

-3.87 pp from 2023

Benchmarks

See 176 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants1,000-4,999

Cohort176 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$198.44M

Not enough data

1 years with asset history on file

Average account balance

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

$85K

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.

2,331

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.

84.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$18.53M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+16.50%

Not enough data

1 years with return on file

Admin fee / account holder

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

$139

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 6 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS4 years Service code 12 · EIN 13-3689044	Sales loads (front end and deferred);...	$143,336
MORGAN STANLEY SMITH BARNEY8 years Filed as: MORGAN STANLEY Service code 27 · EIN 20-8764829	Advisory (Plan)	$109,463
DELOITTE & TOUCHE LLP1 year Service code 10 · EIN 13-3891517	Accounting	$50,000
CITRIN COOPERMAN2 years Filed as: CITRIN COOPERMAN & COMPANY, LLP Service code 10 · EIN 22-2428965	Accounting	$21,750
CHARLES SCHWAB & CO., INC.2 years Filed as: CHARLES SCHWAB & CO., INC Service code 33 · EIN 94-1737782	Securities brokerage commissions and ...	$173
CHARLES SCHWAB & CO., INC.2 years Filed as: CHARLES SCHWAB & CO, INC. Service code 33	Securities brokerage commissions and ...	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2R2T3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

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

$325K

$164 / participant

Recordkeeping$143K44.2%
Investment mgmt$109K33.7%
Other / not subdivided$72K22.1%

% of EOY assets

0.164%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: DELOITTE & TOUCHE LLP
Auditor EIN: 133891517
Audit fees: $71,750
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$85,129

$115,744-26.5%

$100,415-15.2%

$200,096-57.5%

Participation rate

84.3%

85.7%-1.4pp

81.5%+2.8pp

72.0%+12.3pp

Annual return

16.50%

17.79%-1.3pp

49.47%-33.0pp

34.26%-17.8pp

Employer contribution / active EE

$2,375

$3,657-35.1%

$3,943-39.8%

$3,038-21.8%

Participant deferral / active EE

$6,990

$9,844-29.0%

$8,091-13.6%

$5,090+37.3%

Admin fee / account holder

$139

$93+49.9%

$7,906-98.2%

$269-48.3%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS4 years

Service code 12 · EIN 13-3689044

Sales loads (front end and deferred);...

$143,336

MORGAN STANLEY SMITH BARNEY8 years

Filed as: MORGAN STANLEY

Service code 27 · EIN 20-8764829

Advisory (Plan)

$109,463

DELOITTE & TOUCHE LLP1 year

Service code 10 · EIN 13-3891517

Accounting

$50,000

CITRIN COOPERMAN2 years

Filed as: CITRIN COOPERMAN & COMPANY, LLP

Service code 10 · EIN 22-2428965

Accounting

$21,750

CHARLES SCHWAB & CO., INC.2 years

Filed as: CHARLES SCHWAB & CO., INC

Service code 33 · EIN 94-1737782

Securities brokerage commissions and ...

$173

CHARLES SCHWAB & CO., INC.2 years

Filed as: CHARLES SCHWAB & CO, INC.

Service code 33

Securities brokerage commissions and ...

GRANITE TELECOMMUNICATIONS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GRANITE TELECOMMUNICATIONS 401(K) 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