Retirement plan

GRAND STEEL PRODUCTS, INC. EMPLOYEES' PROFIT SHARING TRUST

Name: GRAND STEEL PRODUCTS, INC. - GRAND STEEL PRODUCTS, INC. EMPLOYEES' PROFIT SHARING TRUST (2024) Form 5500
Creator: GRAND STEEL PRODUCTS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GRAND STEEL PRODUCTS, INC. EMPLOYEES' PROFIT SHARING TRUST, GRAND STEEL PRODUCTS, INC.

GRAND STEEL PRODUCTS, INC.EIN 38-3186309Plan #001PY 2024

51100 PONTIAC TRAIL - WIXOM, MI 48393248-960-9200grandsteel.netLinkedIn11-50 employeesmining & metals

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$5.4M

+11.9% from 2023

Total participants

+29.2% from 2023

Average account balance

$72,423

+7.4% from 2023

Annual return

8.20%

-4.40 pp from 2023

Benchmarks

See 14,159 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,159 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.43M

Not enough data

1 years with asset history on file

Average account balance

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

$72K

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.

91.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$800K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+8.20%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8717

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 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

3 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.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$654K

$7973 / participant

Other / not subdivided$654K100.0%

% of EOY assets

12.037%

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

$72,423

$86,940-16.7%

$102,434-29.3%

$80,935-10.5%

Participation rate

78.0%

72.4%+5.7pp

76.5%+1.5pp

67.7%+10.4pp

Annual return

8.20%

18.89%-10.7pp

29.46%-21.3pp

35.66%-27.5pp

Employer contribution / active EE

$6,986

$2,370+194.8%

$3,023+131.1%

$2,757+153.4%

Participant deferral / active EE

$2,775

$4,121-32.7%

$5,055-45.1%

$4,299-35.5%

Admin fee / account holder

$8,717

$8,047+8.3%

$9,462-7.9%

$6,924+25.9%

GRAND STEEL PRODUCTS, INC. EMPLOYEES' PROFIT SHARING TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GRAND STEEL PRODUCTS, INC. EMPLOYEES' PROFIT SHARING TRUST

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