Retirement plan

GOWER CORPORATION 401(K) PROFIT SHARING PLAN

Name: GOWER CORPORATION - GOWER CORPORATION 401(K) PROFIT SHARING PLAN (2019) Form 5500
Creator: GOWER CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GOWER CORPORATION 401(K) PROFIT SHARING PLAN, GOWER CORPORATION

GOWER CORPORATIONEIN 57-0293575Plan #001PY 2019

P.O. BOX 6767 - GREENVILLE, SC 29606864-458-3114

Prospect flagsLow returnsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$22.9M

+22.2% from 2018

Total participants

257

-0.8% from 2018

Average account balance

$88,949

+23.1% from 2018

Annual return

17.73%

+21.86 pp from 2018

Benchmarks

See 4,276 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,276 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$30.04M

Not enough data

1 years with asset history on file

Average account balance

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

$144K

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.

209

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.

82.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.38M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$28K

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

+10.22%

Not enough data

1 years with return on file

Admin fee / account holder

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

$395

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

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
UNIFIED TRUST COMPANY, N.A.5+ years Service code 15 2353 ALEXANDRIA DRIVE, SUITE 100 · LEXINGTON, KY 40504	Recordkeeping	$44,342
NORTHWESTERN MUTUAL INVESTMENT SERV5+ years Service code 15 32 PARKWAY COMMONS WAY · GREER, SC 29650	Recordkeeping	$39,639
ASCENSUS LLC3 years Filed as: ASCENSUS, INC. Service code 17 · EIN 11-3665754	Pension Consulting	$14,165

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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.
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.

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.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$98K

$577 / participant

Contract admin$98K100.0%

% of EOY assets

0.429%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: GRAYDON THOMPSON, LLC
Auditor EIN: 472332707
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$88,949

$65,378+36.1%

$87,103+2.1%

$65,186+36.5%

Participation rate

100.0%

75.3%+24.7pp

76.9%+23.1pp

70.2%+29.8pp

Annual return

17.73%

31.28%-13.5pp

28.19%-10.5pp

29.39%-11.7pp

Employer contribution / active EE

$7,444

$1,823+308.4%

$2,521+195.2%

$2,177+242.0%

Participant deferral / active EE

$4,514

$3,389+33.2%

$4,049+11.5%

$3,514+28.5%

Admin fee / account holder

$382

$520-26.5%

$7,491-94.9%

$847-54.9%

Provider

Service type

Compensation

UNIFIED TRUST COMPANY, N.A.5+ years

Service code 15

2353 ALEXANDRIA DRIVE, SUITE 100 · LEXINGTON, KY 40504

Recordkeeping

$44,342

NORTHWESTERN MUTUAL INVESTMENT SERV5+ years

Service code 15

32 PARKWAY COMMONS WAY · GREER, SC 29650

Recordkeeping

$39,639

ASCENSUS LLC3 years

Filed as: ASCENSUS, INC.

Service code 17 · EIN 11-3665754

Pension Consulting

$14,165

GOWER CORPORATION 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GOWER CORPORATION 401(K) 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