Retirement plan

GORE NITROGEN PUMPING SERVICE, LLC 401(K)

Name: GORE NITROGEN PUMPING SERVICE, LLC - GORE NITROGEN PUMPING SERVICE, LLC 401(K) (2024) Form 5500
Creator: GORE NITROGEN PUMPING SERVICE, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GORE NITROGEN PUMPING SERVICE, LLC 401(K), GORE NITROGEN PUMPING SERVICE, LLC

GORE NITROGEN PUMPING SERVICE, LLCEIN 48-1241886Plan #001PY 2024

916 N. ELM - SEILING, OK 73663580-744-2375goren2.comLinkedIn51-200 employeesoil & energy

Prospect flagsLow participationLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$17.7M

+37.4% from 2023

Total participants

667

+5.4% from 2023

Average account balance

$61,155

-7.1% from 2023

Annual return

20.07%

-8.17 pp from 2023

Benchmarks

See 195 peers

Peer group

Industry21 - Mining, Quarrying, and Oil and Gas Extraction

Plan typeDefined contribution

Participants250-999

Cohort195 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$24.82M

Not enough data

1 years with asset history on file

Average account balance

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

$60K

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.

412

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.

44.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.18M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+22.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$76

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 3 by compensation

Provider	Service type	Compensation
EDWARD JONES4 years Service code 27 12555 MANCHESTER RD · ST LOUIS, MO 63131	Advisory (Plan)	$23,682
GREAT-WEST LIFE & ANNUITY INSURANCE4 years Filed as: DYATECH, LLC Service code 13 381 HIGHLAND COLONY PKWY · RIDGELAND, CA 39157	Contract Administrator	$9,458
AMERICAN FUNDS4 years Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI Service code 64 6455 IRVINE CENTER DRIVE · IRVINE, CA 92618	Recordkeeping Fees	$2,113

Plan features & details

Pension benefit codes2A2E2J2K2F2G3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$32K

$51 / participant

Recordkeeping$32K100.0%

% of EOY assets

0.181%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: CONKLIN, GILPIN WERTZ, PLLC, CPA'S
Auditor EIN: 271439588
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$61,155

$96,486-36.6%

$153,485-60.2%

$77,643-21.2%

Participation rate

40.1%

81.6%-41.6pp

77.1%-37.0pp

70.6%-30.5pp

Annual return

20.07%

14.44%+5.6pp

15.65%+4.4pp

31.24%-11.2pp

Employer contribution / active EE

$1,885

$5,224-63.9%

$5,039-62.6%

$2,726-30.8%

Participant deferral / active EE

$2,992

$6,609-54.7%

$6,757-55.7%

$4,647-35.6%

Admin fee / account holder

$111

$182-39.3%

$12,724-99.1%

$430-74.3%

Provider

Service type

Compensation

EDWARD JONES4 years

Service code 27

12555 MANCHESTER RD · ST LOUIS, MO 63131

Advisory (Plan)

$23,682

GREAT-WEST LIFE & ANNUITY INSURANCE4 years

Filed as: DYATECH, LLC

Service code 13

381 HIGHLAND COLONY PKWY · RIDGELAND, CA 39157

Contract Administrator

$9,458

AMERICAN FUNDS4 years

Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI

Service code 64

6455 IRVINE CENTER DRIVE · IRVINE, CA 92618

Recordkeeping Fees

$2,113

GORE NITROGEN PUMPING SERVICE, LLC 401(K)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GORE NITROGEN PUMPING SERVICE, LLC 401(K)

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