Retirement plan

GRELA WELL DRILLING, INC 401(K) PROFIT SHARING PLAN

Name: GRELA WELL DRILLING, INC - GRELA WELL DRILLING, INC 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: GRELA WELL DRILLING, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GRELA WELL DRILLING, INC 401(K) PROFIT SHARING PLAN, GRELA WELL DRILLING, INC

GRELA WELL DRILLING, INCEIN 06-1128842Plan #002PY 2023

143 MAIN STREET - TERRYVILLE, CT 06786860-583-3237grelawelldrilling.comLinkedIn1-10 employees

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3.8M

+16.9% from 2022

Total participants

+15.0% from 2022

Average account balance

$174,216

+0.9% from 2022

Annual return

13.34%

+28.81 pp from 2022

Benchmarks

See 51,594 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort51,594 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.33M

Not enough data

1 years with asset history on file

Average account balance

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

$197K

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.

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.

220.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$131K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+10.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1208

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2G2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

$15K

$1071 / participant

Other / not subdivided$15K100.0%

% of EOY assets

0.391%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$174,216

$106,267+63.9%

$96,520+80.5%

$139,456+24.9%

Participation rate

92.9%

77.8%+15.0pp

74.3%+18.5pp

80.3%+12.5pp

Annual return

13.34%

38.45%-25.1pp

35.72%-22.4pp

373.45%-360.1pp

Employer contribution / active EE

$7,143

$4,105+74.0%

$3,739+91.1%

$4,753+50.3%

Participant deferral / active EE

$2,235

$5,454-59.0%

$4,879-54.2%

$6,711-66.7%

Admin fee / account holder

$682

$7,882-91.4%

$6,733-89.9%

$11,407-94.0%

GRELA WELL DRILLING, INC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GRELA WELL DRILLING, INC 401(K) PROFIT SHARING 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