Retirement plan

THE GALLOWAY GROUP, INC. 401(K) PROFIT SHARING PLAN & TRUST

Name: THE GALLOWAY GROUP, INC. - THE GALLOWAY GROUP, INC. 401(K) PROFIT SHARING PLAN & TRUST (2023) Form 5500
Creator: THE GALLOWAY GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE GALLOWAY GROUP, INC. 401(K) PROFIT SHARING PLAN & TRUST, THE GALLOWAY GROUP, INC.

THE GALLOWAY GROUP, INC.EIN 52-2371541Plan #001PY 2023

5840 YOUNGQUIST ROAD - FORT MYERS, FL 33912239-481-7448teamgalloway.comLinkedIn51-200 employeestelecommunications

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$6.3M

+13.7% from 2022

Total participants

+6.5% from 2022

Average account balance

$127,800

+6.7% from 2022

Annual return

11.35%

+25.82 pp from 2022

Benchmarks

See 18,032 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,032 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.90M

Not enough data

1 years with asset history on file

Average account balance

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

$125K

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.

110.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.00M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

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

+10.72%

Not enough data

1 years with return on file

Admin fee / account holder

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

$19819

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 codes2E2G2J3D

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.
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

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.

Expense breakdown

Schedule H Part II

Admin total

$873K

$19846 / participant

Other / not subdivided$873K100.0%

% of EOY assets

13.945%

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

$127,800

$73,988+72.7%

$96,538+32.4%

$75,177+70.0%

Participation rate

100.0%

66.4%+33.6pp

74.3%+25.7pp

67.2%+32.8pp

Annual return

11.35%

26.73%-15.4pp

35.74%-24.4pp

160.75%-149.4pp

Employer contribution / active EE

$13,666

$2,930+366.4%

$3,740+265.4%

$2,671+411.6%

Participant deferral / active EE

$8,117

$3,660+121.7%

$4,880+66.3%

$4,126+96.7%

Admin fee / account holder

$17,821

$5,220+241.4%

$6,737+164.5%

$5,651+215.3%

THE GALLOWAY GROUP, INC. 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE GALLOWAY GROUP, INC. 401(K) PROFIT SHARING PLAN & 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