Retirement plan

GRANITE RIDGE GROUP, INC. 401(K) PLAN

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

GRANITE RIDGE GROUP, INC.EIN 35-1684236Plan #001PY 2023

1020 WOODLAND PLAZA RUN - FORT WAYNE, IN 468251528260-490-1417LinkedIn51-200 employeesreal estate

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$7.6M

+18.8% from 2022

Total participants

105

-8.7% from 2022

Average account balance

$81,487

+29.0% from 2022

Annual return

15.74%

+33.83 pp from 2022

Benchmarks

See 4,117 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants25-99

Cohort4,117 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.31M

Not enough data

1 years with asset history on file

Average account balance

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

$115K

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.

112.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$720K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+15.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$7124

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
PRINCIPAL LIFE INSURANCE COMPANY5 years Service code 13 · EIN 42-0127290	Contract Administrator	$46,262
EDWARD JONES4 years Service code 27 · EIN 43-0345811	Advisory (Plan)	$23,771
WILSHIRE ASSOCIATES INCORPORATED2 years Filed as: WILSHIRE ADVISORS LLC Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

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

1 tripped

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

$46K

$514 / participant

Contract admin$46K100.0%

% of EOY assets

0.610%

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: BARNES DENNIG
Auditor EIN: 311119890
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$81,487

$70,684+15.3%

$169,390-51.9%

$75,173+8.4%

Participation rate

86.7%

64.8%+21.9pp

77.2%+9.5pp

67.2%+19.5pp

Annual return

15.74%

36.38%-20.6pp

406.07%-390.3pp

160.72%-145.0pp

Employer contribution / active EE

$2,981

$2,211+34.8%

$4,013-25.7%

$2,671+11.6%

Participant deferral / active EE

$5,654

$4,310+31.2%

$6,222-9.1%

$4,126+37.0%

Admin fee / account holder

$497

$5,404-90.8%

$9,015-94.5%

$5,651-91.2%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY5 years

Service code 13 · EIN 42-0127290

Contract Administrator

$46,262

EDWARD JONES4 years

Service code 27 · EIN 43-0345811

Advisory (Plan)

$23,771

WILSHIRE ASSOCIATES INCORPORATED2 years

Filed as: WILSHIRE ADVISORS LLC

Service code 27 · EIN 95-2755361

Advisory (Plan)

GRANITE RIDGE GROUP, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GRANITE RIDGE GROUP, INC. 401(K) 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