Retirement plan

THE GORES GROUP, LLC - 401K PLAN

Name: THE GORES GROUP, LLC - THE GORES GROUP, LLC - 401K PLAN (2023) Form 5500
Creator: THE GORES GROUP, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE GORES GROUP, LLC - 401K PLAN, THE GORES GROUP, LLC

THE GORES GROUP, LLCEIN 33-1066785Plan #001PY 2023

6260 LOOKOUT ROAD, SUITE 200 - BOULDER, CO 80301303-531-3100goresgroup.comLinkedIn51-200 employeesretail

Prospect flagsLow returnsLow participationLow employer contributionLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$362.1M

+11.1% from 2016

Total participants

5,442

-13.3% from 2016

Average account balance

$148,083

+23.0% from 2016

Annual return

-4.35%

-7.20 pp from 2016

Benchmarks

See 146 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants1,000-4,999

Cohort146 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$361.27M

Not enough data

1 years with asset history on file

Average account balance

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

$167K

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.

3,876

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.

0.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.03M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+11.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$159

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

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY3 years Filed as: MORGAN STANLEY Service code 27 1585 BROADWAY · NEW YORK, NY 10036	Advisory (Plan)	$191,612
HOLTHOUSE CARLIN & VAN TRIGT LLP7 years Service code 10 1801 W OLYMPIC BLVD · PASADENA, CA 911991404	Accounting	$63,070
LITTLER MENDELSON, P.C.9+ years Service code 29 PO BOX 45547 · SAN FRANCISCO, CA 941450547	Legal	$35,162
QDRO CONSULTANTS COMPANY, LLC7 years Filed as: QDRO CONSULTANTS CO LLC Service code 99 3071 PEARL ROAD · MEDINA, OH 44256	Other Fees	$300
CHARLES SCHWAB & CO., INC.1 year Service code 33 · EIN 94-1737782	Securities brokerage	$27
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3H2U

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

6 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$296K

$89 / participant

Investment mgmt$192K64.7%
Legal$35K11.9%
Contract admin$6K2.0%
Other / not subdivided$63K21.4%

% of EOY assets

0.082%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HOLTHOUSE CARLIN & VAN TRIGT LLP
Auditor EIN: 954345526
Audit fees: $63,070
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$148,083

$136,853+8.2%

$130,298+13.6%

$80,187+84.7%

Participation rate

10.1%

81.6%-71.6pp

76.3%-66.2pp

72.9%-62.9pp

Annual return

-4.35%

22.66%-27.0pp

38.90%-43.3pp

40.40%-44.8pp

Employer contribution / active EE

$566

$3,395-83.3%

$4,128-86.3%

$2,980-81.0%

Participant deferral / active EE

$2,015

$5,856-65.6%

$6,790-70.3%

$5,016-59.8%

Admin fee / account holder

$121

$184-34.2%

$6,025-98.0%

$145-16.4%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY3 years

Filed as: MORGAN STANLEY

Service code 27

1585 BROADWAY · NEW YORK, NY 10036

Advisory (Plan)

$191,612

HOLTHOUSE CARLIN & VAN TRIGT LLP7 years

Service code 10

1801 W OLYMPIC BLVD · PASADENA, CA 911991404

Accounting

$63,070

LITTLER MENDELSON, P.C.9+ years

Service code 29

PO BOX 45547 · SAN FRANCISCO, CA 941450547

Legal

$35,162

QDRO CONSULTANTS COMPANY, LLC7 years

Filed as: QDRO CONSULTANTS CO LLC

Service code 99

3071 PEARL ROAD · MEDINA, OH 44256

Other Fees

$300

CHARLES SCHWAB & CO., INC.1 year

Service code 33 · EIN 94-1737782

Securities brokerage

$27

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

THE GORES GROUP, LLC - 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE GORES GROUP, LLC - 401K 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