Retirement plan

GREAT LAKES RETIREMENT, INC. 401(K) RETIREMENT PLAN

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

GREAT LAKES RETIREMENT, INC.EIN 45-0588768Plan #001PY 2024

4604 TIMBER COMMONS DRIVE - SANDUSKY, OH 44870419-626-8600LinkedIn1-10 employeesinvestment banking

Other plans on this EIN

1 filing

#002Retirement-$1.7M assets

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$3.6M

+32.2% from 2023

Total participants

-10.0% from 2023

Average account balance

$213,924

+55.5% from 2023

Annual return

22.15%

+0.38 pp from 2023

Benchmarks

See 37,207 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,207 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.64M

Not enough data

1 years with asset history on file

Average account balance

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

$214K

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.

94.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$309K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+22.15%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2027

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 codes2E2F2G2J2R3D3H

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.)
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

$34K

$1914 / participant

Other / not subdivided$34K100.0%

% of EOY assets

0.947%

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

$213,924

$201,259+6.3%

$184,200+16.1%

$145,959+46.6%

Participation rate

94.4%

87.5%+6.9pp

86.8%+7.6pp

80.3%+14.2pp

Annual return

22.15%

28.98%-6.8pp

28.80%-6.7pp

561.95%-539.8pp

Employer contribution / active EE

$4,030

$7,018-42.6%

$6,424-37.3%

$4,661-13.5%

Participant deferral / active EE

$13,135

$9,806+33.9%

$9,132+43.8%

$6,689+96.4%

Admin fee / account holder

$2,027

$16,372-87.6%

$13,907-85.4%

$13,398-84.9%

GREAT LAKES RETIREMENT, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GREAT LAKES RETIREMENT, INC. 401(K) RETIREMENT 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