Retirement plan

GERRIT'S APPLIANCE, INC. EMPLOYEE'S PROFIT SHARING PLAN

Name: GERRITS APPLIANCE, INC. - GERRIT'S APPLIANCE, INC. EMPLOYEE'S PROFIT SHARING PLAN (2016) Form 5500
Creator: GERRITS APPLIANCE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GERRIT'S APPLIANCE, INC. EMPLOYEE'S PROFIT SHARING PLAN, GERRITS APPLIANCE, INC.

GERRITS APPLIANCE, INC.EIN 38-1989233Plan #001PY 2016

2410 28TH STREET - WYOMING, MI 49509616-532-3626

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$2.3M

No prior year

Total participants

No prior year

Average account balance

$54,273

No prior year

Annual return

7.35%

No prior year

Benchmarks

See 9,492 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants25-99

Cohort9,492 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.01M

Not enough data

1 years with asset history on file

Average account balance

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

$86K

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.

96.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$504K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+23.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1597

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

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 codes2E2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$77K

$2025 / participant

Other / not subdivided$77K100.0%

% of EOY assets

3.375%

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

$54,273

$48,364+12.2%

$71,796-24.4%

$62,881-13.7%

Participation rate

100.0%

60.6%+39.4pp

69.1%+30.9pp

69.3%+30.7pp

Annual return

7.35%

13.16%-5.8pp

78.04%-70.7pp

20.14%-12.8pp

Employer contribution / active EE

$3,340

$1,042+220.6%

$1,924+73.6%

$2,281+46.4%

Participant deferral / active EE

$699

$2,091-66.6%

$2,794-75.0%

$3,203-78.2%

Admin fee / account holder

$1,832

$3,771-51.4%

$4,815-62.0%

$4,296-57.4%

GERRIT'S APPLIANCE, INC. EMPLOYEE'S PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GERRIT'S APPLIANCE, INC. EMPLOYEE'S PROFIT SHARING 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