Retirement plan

GRANITE TELECOMMUNICATIONS 401(K) PLAN

Name: GRANITE TELECOMMUNICATIONS, LLC - GRANITE TELECOMMUNICATIONS 401(K) PLAN (2017) 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 2017

100 NEWPORT AVENUE EXTENSION - QUINCY, MA 02171617-933-5500granitenet.comLinkedIn1001-5000 employeestelecommunications

Prospect flagsLow assets / participant

How to read this page

Total assets (EOY)

$55.6M

+47.3% from 2016

Total participants

1,936

+7.6% from 2016

Average account balance

$35,077

+29.9% from 2016

Annual return

22.31%

+11.58 pp from 2016

Benchmarks

See 169 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants1,000-4,999

Cohort169 peers

Snapshot2017

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 5 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN STANLEY Service code 27 · EIN 26-4310844	Advisory (Plan)	$72,052
MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years Filed as: MASSMUTUAL RETIREMENT SERVICES, LLC Service code 15 · EIN 26-1589907	Recordkeeping	$10,025
MORGAN STANLEY SMITH BARNEY2 years Filed as: MORGANSTANLEY SMITHBARNEY LLC Service code 19 · EIN 26-4310844	Securities Custodian	$0
MORNINGSTAR1 year Filed as: MORNINGSTAR ASSOCIATES, LLC Service code 49 · EIN 36-4317381	Other Services	$0
RELIANCE TRUST COMPANY3+ years Service code 19 · EIN 58-1428634	Securities Custodian	$0

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
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

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$22K

$14 / participant

Contract admin$22K100.0%

% of EOY assets

0.040%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CITRIN COOPERMAN & COMPANY, LLP
Auditor EIN: 222428965
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$35,077

$80,360-56.3%

$90,161-61.1%

$77,958-55.0%

Participation rate

78.5%

81.9%-3.4pp

76.9%+1.6pp

71.6%+6.8pp

Annual return

22.31%

24.56%-2.2pp

34.89%-12.6pp

20.87%+1.4pp

Employer contribution / active EE

$2,372

$2,326+2.0%

$3,318-28.5%

$2,310+2.7%

Participant deferral / active EE

$4,862

$5,829-16.6%

$5,287-8.0%

$3,537+37.5%

Admin fee / account holder

$14

$64-78.1%

$5,943-99.8%

$97-85.7%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN STANLEY

Service code 27 · EIN 26-4310844

Advisory (Plan)

$72,052

MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years

Filed as: MASSMUTUAL RETIREMENT SERVICES, LLC

Service code 15 · EIN 26-1589907

Recordkeeping

$10,025

MORGAN STANLEY SMITH BARNEY2 years

Filed as: MORGANSTANLEY SMITHBARNEY LLC

Service code 19 · EIN 26-4310844

Securities Custodian

MORNINGSTAR1 year

Filed as: MORNINGSTAR ASSOCIATES, LLC

Service code 49 · EIN 36-4317381

Other Services

RELIANCE TRUST COMPANY3+ years

Service code 19 · EIN 58-1428634

Securities Custodian

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