Retirement plan

GARGAGE MANAGEMENT COMPANY 401(K) PROFIT SHARING PLAN FOR UNION EES

Name: GARAGE MANAGEMENT COMPANY, LLC - GARGAGE MANAGEMENT COMPANY 401(K) PROFIT SHARING PLAN FOR UNION EES (2022) Form 5500
Creator: GARAGE MANAGEMENT COMPANY, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GARGAGE MANAGEMENT COMPANY 401(K) PROFIT SHARING PLAN FOR UNION EES, GARAGE MANAGEMENT COMPANY, LLC

GARAGE MANAGEMENT COMPANY, LLCEIN 13-4126027Plan #005PY 2022

770 LEXINGTON AVENUE, FLOOR 11 - NEW YORK, NY 100658165212-888-7400LinkedIn1-10 employeesreal estate

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$1.7M

No prior year

Total participants

No prior year

Average account balance

$114,644

No prior year

Annual return

0.00%

No prior year

Benchmarks

See 9,360 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort9,360 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.61M

Not enough data

1 years with asset history on file

Average account balance

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

$124K

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.

24.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$65K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+13.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$22500

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 codes2E2F2G2J2T3D

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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$287K

$4491 / participant

Other / not subdivided$287K100.0%

% of EOY assets

16.713%

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

$114,644

$54,370+110.9%

$82,763+38.5%

$68,490+67.4%

Participation rate

23.4%

63.9%-40.5pp

72.6%-49.1pp

67.9%-44.5pp

Annual return

0.00%

-13.67%+13.7pp

702.45%-702.4pp

-7.85%+7.9pp

Employer contribution / active EE

$9,410

$2,219+324.0%

$3,008+212.8%

$2,597+262.4%

Participant deferral / active EE

$23,215

$3,247+615.0%

$4,395+428.2%

$4,028+476.4%

Admin fee / account holder

$19,161

$4,398+335.7%

$5,325+259.8%

$5,403+254.6%

GARGAGE MANAGEMENT COMPANY 401(K) PROFIT SHARING PLAN FOR UNION EES

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GARGAGE MANAGEMENT COMPANY 401(K) PROFIT SHARING PLAN FOR UNION EES

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