Retirement plan

GENERAL PLUG AND MANUFACTURING COMPANY 401(K) PROFIT SHARING PLAN

Name: GENERAL PLUG AND MANUFACTURING COMPANY - GENERAL PLUG AND MANUFACTURING COMPANY 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: GENERAL PLUG AND MANUFACTURING COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GENERAL PLUG AND MANUFACTURING COMPANY 401(K) PROFIT SHARING PLAN, GENERAL PLUG AND MANUFACTURING COMPANY

GENERAL PLUG AND MANUFACTURING COMPANYEIN 34-0801362Plan #001PY 2024

455 MAIN STREET - GRAFTON, OH 44044440-926-2411generalplug.comLinkedIn51-200 employeesautomotive

Prospect flagsLow employer contributionLow participant contributionCorrective distributions

How to read this page

Total assets (EOY)

$7.6M

+5.0% from 2023

Total participants

260

-0.4% from 2023

Average account balance

$37,292

-45.5% from 2023

Annual return

14.76%

+6.96 pp from 2023

Benchmarks

See 4,099 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,099 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.61M

Not enough data

1 years with asset history on file

Average account balance

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

$37K

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.

204

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.

74.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$342K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+14.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$210

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 2 by compensation

Provider	Service type	Compensation
HUNTINGTON NATIONAL BANK3 years Filed as: THE HUNTINGTON NATIONAL BANK Service code 26 · EIN 31-0966785	Advisory (Participants)	$22,677
NEWPORT GROUP, INC.3 years Service code 13 · EIN 27-2037969	Contract Administrator	$17,918

Plan features & details

Pension benefit codes2E2F2G2J2K2R3D3H

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.
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.
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

3 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$43K

$194 / participant

Recordkeeping$3K8.1%
Trustee / custodial$2K5.3%
Investment mgmt$23K52.9%
Contract admin$14K33.7%

% of EOY assets

0.563%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MALONEY + NOVOTNY LLC
Auditor EIN: 340677006
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,292

$79,223-52.9%

$102,460-63.6%

$74,478-49.9%

Participation rate

74.7%

74.8%-0.1pp

76.5%-1.8pp

67.2%+7.4pp

Annual return

14.76%

54.98%-40.2pp

29.47%-14.7pp

1370.56%-1355.8pp

Employer contribution / active EE

$420

$2,363-82.2%

$3,025-86.1%

$2,626-84.0%

Participant deferral / active EE

$1,127

$4,417-74.5%

$5,056-77.7%

$4,350-74.1%

Admin fee / account holder

$210

$2,003-89.5%

$9,460-97.8%

$1,946-89.2%

Provider

Service type

Compensation

HUNTINGTON NATIONAL BANK3 years

Filed as: THE HUNTINGTON NATIONAL BANK

Service code 26 · EIN 31-0966785

Advisory (Participants)

$22,677

NEWPORT GROUP, INC.3 years

Service code 13 · EIN 27-2037969

Contract Administrator

$17,918

GENERAL PLUG AND MANUFACTURING COMPANY 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GENERAL PLUG AND MANUFACTURING COMPANY 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