Retirement plan

GERDAU MACSTEEL SAVINGS PLAN FOR BARGAINING EMPLOYEES

Name: GERDAU MACSTEEL, INC. - GERDAU MACSTEEL SAVINGS PLAN FOR BARGAINING EMPLOYEES (2024) Form 5500
Creator: GERDAU MACSTEEL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GERDAU MACSTEEL SAVINGS PLAN FOR BARGAINING EMPLOYEES, GERDAU MACSTEEL, INC.

GERDAU MACSTEEL, INC.EIN 38-1872178Plan #015PY 2024

5591 MORRILL RD. - JACKSON, MI 49201517-960-2167

Other plans on this EIN

3 filings

#012Retirement-$112.9M assets #022Retirement-$73.6M assets #011Retirement-$2K assets

Prospect flagsFailed to provide benefit

Top hat statement on fileNQDC

Filed October 18, 2004

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$66.4M

+10.6% from 2023

Total participants

1,150

+3.2% from 2023

Average account balance

$61,722

+5.6% from 2023

Annual return

16.18%

-3.69 pp from 2023

Benchmarks

See 2,379 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,379 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$66.41M

Not enough data

1 years with asset history on file

Average account balance

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

$62K

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.

1,076

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.

92.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.87M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+16.18%

Not enough data

1 years with return on file

Admin fee / account holder

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

$91

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 4 by compensation

Provider	Service type	Compensation
GRANT THORNTON LLP5 years Filed as: GRANT THORNTON Service code 10 · EIN 36-6055558	Accounting	$61,750
FINANCIAL ENGINES9 years Service code 27 · EIN 94-3250323	Advisory (Plan)	$23,030
LOGOS PENSION GROUP INC.1 year Filed as: LOGOS Service code 27 · EIN 83-1892385	Advisory (Plan)	$6,840
MERRILL LYNCH PIERCE FENNER & SMITH7 years Filed as: MERRILL LYNCH Service code 27 · EIN 13-5674085	Advisory (Plan)	$5,700

Plan features & details

Pension benefit codes2E2G2J2K2S2T3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
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

1 tripped

ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.

Expense breakdown

Schedule H Part II

Admin total

$98K

$99 / participant

Investment mgmt$23K23.6%
Legal$3000.3%
Contract admin$6000.6%
Other / not subdivided$74K75.5%

% of EOY assets

0.147%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: GRANT THORNTON LLP
Auditor EIN: 366055558
Audit fees: $57,375
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$61,722

$89,123-30.7%

$102,460-39.8%

$77,762-20.6%

Participation rate

92.5%

80.9%+11.6pp

76.5%+16.0pp

70.6%+21.9pp

Annual return

16.18%

25.05%-8.9pp

29.47%-13.3pp

31.27%-15.1pp

Employer contribution / active EE

$1,781

$2,700-34.0%

$3,025-41.1%

$2,728-34.7%

Participant deferral / active EE

$4,182

$5,148-18.8%

$5,056-17.3%

$4,651-10.1%

Admin fee / account holder

$91

$236-61.5%

$9,460-99.0%

$433-79.0%

Provider

Service type

Compensation

GRANT THORNTON LLP5 years

Filed as: GRANT THORNTON

Service code 10 · EIN 36-6055558

Accounting

$61,750

FINANCIAL ENGINES9 years

Service code 27 · EIN 94-3250323

Advisory (Plan)

$23,030

LOGOS PENSION GROUP INC.1 year

Filed as: LOGOS

Service code 27 · EIN 83-1892385

Advisory (Plan)

$6,840

MERRILL LYNCH PIERCE FENNER & SMITH7 years

Filed as: MERRILL LYNCH

Service code 27 · EIN 13-5674085

Advisory (Plan)

$5,700

GERDAU MACSTEEL SAVINGS PLAN FOR BARGAINING EMPLOYEES

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GERDAU MACSTEEL SAVINGS PLAN FOR BARGAINING EMPLOYEES

Top hat statement on fileNQDC

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