Retirement plan

GERKEN RETIREMENT SAVINGS PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES

Name: GERKEN MATERIALS, INC. - GERKEN RETIREMENT SAVINGS PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES (2022) Form 5500
Creator: GERKEN MATERIALS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GERKEN RETIREMENT SAVINGS PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES, GERKEN MATERIALS, INC.

GERKEN MATERIALS, INC.EIN 34-4478444Plan #002PY 2022

9072 COUNTY ROAD 424 - NAPOLEON, OH 43545419-533-7701

Other plans on this EIN

1 filing

#001Retirement-$18.8M assets

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$3.4M

-19.8% from 2021

Total participants

171

-6.6% from 2021

Average account balance

$47,774

-16.4% from 2021

Annual return

-14.26%

-26.58 pp from 2021

Benchmarks

See 2,998 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,998 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.94M

Not enough data

1 years with asset history on file

Average account balance

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

$63K

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.

39.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$383K

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

+24.11%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6955

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

Top 3 by compensation

Provider	Service type	Compensation
LPL FINANCIAL1 year Filed as: LPL FINANCIAL LLC RPCP Service code 26 · EIN 04-3046611 P.O. BOX 502030 · SAN DIEGO, CA 92150	Advisory (Participants)	$4,537
MILLENNIUM INVESTMENT & RETIREMENT1 year Filed as: MILLENNIUM INVESTMENT Service code 26 · EIN 94-3428956 13850 BALLANTYNE CORP PLACE · CHARLOTTE, NC 28277	Advisory (Participants)	$907
JOHN HANCOCK LIFE INSURANCE COMPANY8+ years Service code 15 · EIN 01-0233346 P.O. BOX 600 · BUFFALO, NY 142010600	Recordkeeping	$224

Plan features & details

Pension benefit codes2F2G2J2T3D3H

Plan features

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.
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

2 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.

Expense breakdown

Schedule H Part II

Admin total

$1K

$9 / participant

Investment mgmt$1K100.0%

% of EOY assets

0.044%

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: CLIFTONLARSONALLEN, LTD
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$47,774

$64,176-25.6%

$112,249-57.4%

$66,938-28.6%

Participation rate

37.5%

68.4%-30.9pp

75.1%-37.6pp

69.8%-32.3pp

Annual return

-14.26%

-13.80%-0.5pp

27.48%-41.7pp

1.58%-15.8pp

Employer contribution / active EE

$3,007-100.0%

$3,636-100.0%

$2,545-100.0%

Participant deferral / active EE

$1,373

$3,694-62.8%

$4,729-71.0%

$4,238-67.6%

Admin fee / account holder

$21

$626-96.6%

$6,412-99.7%

$594-96.5%

Provider

Service type

Compensation

LPL FINANCIAL1 year

Filed as: LPL FINANCIAL LLC RPCP

Service code 26 · EIN 04-3046611

P.O. BOX 502030 · SAN DIEGO, CA 92150

Advisory (Participants)

$4,537

MILLENNIUM INVESTMENT & RETIREMENT1 year

Filed as: MILLENNIUM INVESTMENT

Service code 26 · EIN 94-3428956

13850 BALLANTYNE CORP PLACE · CHARLOTTE, NC 28277

Advisory (Participants)

$907

JOHN HANCOCK LIFE INSURANCE COMPANY8+ years

Service code 15 · EIN 01-0233346

P.O. BOX 600 · BUFFALO, NY 142010600

Recordkeeping

$224

GERKEN RETIREMENT SAVINGS PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GERKEN RETIREMENT SAVINGS PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES

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