Retirement plan

GORBEL, INC. 401K EMPLOYEE SAVINGS AND RETIREMENT PLAN

Name: GORBEL, INC. - GORBEL, INC. 401K EMPLOYEE SAVINGS AND RETIREMENT PLAN (2024) Form 5500
Creator: GORBEL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GORBEL, INC. 401K EMPLOYEE SAVINGS AND RETIREMENT PLAN, GORBEL, INC.

GORBEL, INC.EIN 16-1093854Plan #001PY 2024

600 FISHERS RUN - VICTOR, NY 14564585-924-6776gorbel.comLinkedIn201-500 employeesmachinery

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$45.1M

+12.6% from 2023

Total participants

683

+15.2% from 2023

Average account balance

$73,760

+3.0% from 2023

Annual return

13.92%

-3.98 pp from 2023

Benchmarks

See 2,380 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,380 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$45.07M

Not enough data

1 years with asset history on file

Average account balance

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

$74K

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.

611

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

$4.07M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+13.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$104

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 3 by compensation

Provider	Service type	Compensation
UBS FINANCIAL SERVICES INC10+ years Service code 16 · EIN 13-2638166	Consulting	$34,034
FIDELITY INVESTMENTS INSTITUTIONAL10+ years Service code 37 · EIN 04-2647786	Loan Processing	$17,239
DAVIE KAPLAN10+ years Filed as: DAVIE KAPLAN, CPA, P.C. Service code 10 · EIN 16-1182991	Accounting	$12,250

Plan features & details

Pension benefit codes2F2G2J2K2T3D2U2E

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.
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

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$64K

$117 / participant

Recordkeeping$17K27.1%
Other / not subdivided$46K72.9%

% of EOY assets

0.141%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: DAVIE KAPLAN, CPA, P.C.
Auditor EIN: 161182991
Audit fees: $12,250
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$73,760

$89,093-17.2%

$102,434-28.0%

$77,736-5.1%

Participation rate

86.8%

80.9%+5.8pp

76.5%+10.3pp

70.6%+16.2pp

Annual return

13.92%

25.03%-11.1pp

29.46%-15.5pp

31.26%-17.3pp

Employer contribution / active EE

$1,290

$2,699-52.2%

$3,023-57.3%

$2,728-52.7%

Participant deferral / active EE

$6,186

$5,147+20.2%

$5,055+22.4%

$4,651+33.0%

Admin fee / account holder

$104

$236-55.9%

$9,462-98.9%

$433-76.0%

Provider

Service type

Compensation

UBS FINANCIAL SERVICES INC10+ years

Service code 16 · EIN 13-2638166

Consulting

$34,034

FIDELITY INVESTMENTS INSTITUTIONAL10+ years

Service code 37 · EIN 04-2647786

Loan Processing

$17,239

DAVIE KAPLAN10+ years

Filed as: DAVIE KAPLAN, CPA, P.C.

Service code 10 · EIN 16-1182991

Accounting

$12,250

GORBEL, INC. 401K EMPLOYEE SAVINGS AND RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GORBEL, INC. 401K EMPLOYEE SAVINGS AND RETIREMENT 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