Retirement plan

GEIB INDUSTRIES, INC. 401(K) PLAN

Name: GEIB INDUSTRIES, INC. - GEIB INDUSTRIES, INC. 401(K) PLAN (2024) Form 5500
Creator: GEIB INDUSTRIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GEIB INDUSTRIES, INC. 401(K) PLAN, GEIB INDUSTRIES, INC.

GEIB INDUSTRIES, INC.EIN 36-2745791Plan #001PY 2024

901 E JEFFERSON STREET - BENSENVILLE, IL 60106847-455-4550geibind.comLinkedIn51-200 employeesindustrial automation

Prospect flagsLow assets / participantLow fidelity bondFailed to transmit contributions

How to read this page

Total assets (EOY)

$3.4M

+49.5% from 2023

Total participants

145

+16.9% from 2023

Average account balance

$23,804

+28.7% from 2023

Annual return

33.38%

+6.74 pp from 2023

Benchmarks

See 2,345 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,345 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.43M

Not enough data

1 years with asset history on file

Average account balance

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

$24K

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.

144

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.

99.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$578K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+33.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$82

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
LPL FINANCIAL1 year Filed as: LPL FINANCIAL, LLC Service code 27 P.O. BOX 502533 · SAN DIEGO, CA 92150	Advisory (Plan)	$5,994
BROOKE CLINE & ASSOCIATES, LLC1 year Service code 13 ONE OVERLOOK POINT, STE. 540 · LINCOLNSHIRE, IL 60069	Contract Administrator	$5,247
AMERICAN FUNDS1 year Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI Service code 64 6455 INVINE CENTER DRIVE · IRVINE, CA 92618	Recordkeeping Fees	$550

Plan features & details

Pension benefit codes2A2E2F2G2J2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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

3 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$12K

$100 / participant

Recordkeeping$7K55.5%
Contract admin$5K44.5%

% of EOY assets

0.344%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: LEE CPA AUDIT GROUP
Auditor EIN: 814637885
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$23,804

$88,186-73.0%

$165,071-85.6%

$74,459-68.0%

Participation rate

99.2%

73.1%+26.0pp

78.6%+20.5pp

67.2%+31.9pp

Annual return

33.38%

17.13%+16.2pp

70.17%-36.8pp

1369.70%-1336.3pp

Employer contribution / active EE

$2,059

$2,600-20.8%

$4,347-52.6%

$2,626-21.6%

Participant deferral / active EE

$2,841

$4,505-36.9%

$6,035-52.9%

$4,350-34.7%

Admin fee / account holder

$82

$2,234-96.3%

$12,695-99.4%

$1,945-95.8%

Provider

Service type

Compensation

LPL FINANCIAL1 year

Filed as: LPL FINANCIAL, LLC

Service code 27

P.O. BOX 502533 · SAN DIEGO, CA 92150

Advisory (Plan)

$5,994

BROOKE CLINE & ASSOCIATES, LLC1 year

Service code 13

ONE OVERLOOK POINT, STE. 540 · LINCOLNSHIRE, IL 60069

Contract Administrator

$5,247

AMERICAN FUNDS1 year

Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI

Service code 64

6455 INVINE CENTER DRIVE · IRVINE, CA 92618

Recordkeeping Fees

$550

GEIB INDUSTRIES, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GEIB INDUSTRIES, 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