Retirement plan

GELOCK TRANSFER LINE, INC. EMPLOYEE SAVINGS & RETIREMENT PLAN

Name: GELOCK TRANSFER LINE, INC. - GELOCK TRANSFER LINE, INC. EMPLOYEE SAVINGS & RETIREMENT PLAN (2024) Form 5500
Creator: GELOCK TRANSFER LINE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GELOCK TRANSFER LINE, INC. EMPLOYEE SAVINGS & RETIREMENT PLAN, GELOCK TRANSFER LINE, INC.

GELOCK TRANSFER LINE, INC.EIN 38-1275689Plan #002PY 2024

450 MARKET AVENUE SW - GRAND RAPIDS, MI 495034943616-774-2828

Prospect flagsLow returnsHigh fees

Top hat statement on fileNQDC

Filed April 18, 2023

Plan administrator

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450 Market Avenue, S.W.

Grand Rapids, MI 49503

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Plans declared (1)

Gelock Transfer Line Inc. Executive Deferred Compensation Plan2 emp

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Total assets (EOY)

$4.2M

-15.0% from 2023

Total participants

0.0% from 2023

Average account balance

$101,874

-29.5% from 2023

Annual return

9.37%

-3.22 pp from 2023

Benchmarks

See 18,526 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,526 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.18M

Not enough data

1 years with asset history on file

Average account balance

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

$102K

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.

113.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$564K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+9.37%

Not enough data

1 years with return on file

Admin fee / account holder

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

$43071

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

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Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D3H

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$1.8M

$49053 / participant

Other / not subdivided$2M100.0%

% of EOY assets

42.279%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$101,874

$81,504+25.0%

$102,437-0.6%

$80,959+25.8%

Participation rate

100.0%

66.9%+33.1pp

74.5%+25.5pp

67.7%+32.3pp

Annual return

9.37%

25.60%-16.2pp

24.95%-15.6pp

35.67%-26.3pp

Employer contribution / active EE

$7,936

$3,104+155.7%

$3,871+105.0%

$2,757+187.8%

Participant deferral / active EE

$7,739

$3,871+99.9%

$5,060+52.9%

$4,300+80.0%

Admin fee / account holder

$43,071

$6,719+541.0%

$8,388+413.5%

$6,925+521.9%

GELOCK TRANSFER LINE, INC. EMPLOYEE SAVINGS & RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GELOCK TRANSFER LINE, INC. EMPLOYEE SAVINGS & RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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