Retirement plan

GREGORY ELECTRIC COMPANY, INC. EMPLOYEE SAVINGS AND PROFIT SHARING PLAN

Name: GREGORY ELECTRIC COMPANY, INC. - GREGORY ELECTRIC COMPANY, INC. EMPLOYEE SAVINGS AND PROFIT SHARING PLAN (2024) Form 5500
Creator: GREGORY ELECTRIC COMPANY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GREGORY ELECTRIC COMPANY, INC. EMPLOYEE SAVINGS AND PROFIT SHARING PLAN, GREGORY ELECTRIC COMPANY, INC.

GREGORY ELECTRIC COMPANY, INC.EIN 57-0362682Plan #002PY 2024

2124 COLLEGE STREET - COLUMBIA, SC 29205803-748-1124gregoryelectric.comLinkedIn201-500 employeesconstruction

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$20.3M

+16.7% from 2023

Total participants

278

+19.8% from 2023

Average account balance

$113,561

+10.2% from 2023

Annual return

15.58%

-2.68 pp from 2023

Benchmarks

See 3,444 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,444 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$20.33M

Not enough data

1 years with asset history on file

Average account balance

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

$114K

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.

179

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.

55.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.16M

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

+15.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$123

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 2 by compensation

Provider	Service type	Compensation
COMPERIO RETIREMENT CONSULTING, INC4 years Filed as: COMPERIO RETIREMENT CONSULTING, IN Service code 27 · EIN 20-4798483	Advisory (Plan)	$15,000
FIDELITY INVESTMENTS INSTITUTIONAL9 years Service code 37 · EIN 04-2647786	Loan Processing	$7,007

Plan features & details

Pension benefit codes2E2G2J2K2T3D3H

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.
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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$22K

$100 / participant

Recordkeeping$7K31.8%
Other / not subdivided$15K68.2%

% of EOY assets

0.108%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SHEHEEN, HANCOCK, & GODWIN, LLP
Auditor EIN: 570522539
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$113,561

$80,781+40.6%

$102,437+10.9%

$74,478+52.5%

Participation rate

55.0%

65.7%-10.7pp

74.5%-19.5pp

67.2%-12.2pp

Annual return

15.58%

27.58%-12.0pp

24.95%-9.4pp

1370.56%-1355.0pp

Employer contribution / active EE

$1,732

$3,160-45.2%

$3,871-55.2%

$2,626-34.0%

Participant deferral / active EE

$3,533

$3,862-8.5%

$5,060-30.2%

$4,350-18.8%

Admin fee / account holder

$123

$2,372-94.8%

$8,388-98.5%

$1,946-93.7%

Provider

Service type

Compensation

COMPERIO RETIREMENT CONSULTING, INC4 years

Filed as: COMPERIO RETIREMENT CONSULTING, IN

Service code 27 · EIN 20-4798483

Advisory (Plan)

$15,000

FIDELITY INVESTMENTS INSTITUTIONAL9 years

Service code 37 · EIN 04-2647786

Loan Processing

$7,007

GREGORY ELECTRIC COMPANY, INC. EMPLOYEE SAVINGS AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GREGORY ELECTRIC COMPANY, INC. EMPLOYEE SAVINGS AND 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