Retirement plan

GARRISON STEEL 401(K) PLAN

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

GARRISON STEEL ERECTORS, INC.EIN 63-1133342Plan #001PY 2024

1122 INDUSTRIAL PARK DRIVE - PELL CITY, AL 35125205-884-4766LinkedIn201-500 employeesconstruction

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$3.9M

+0.2% from 2023

Total participants

126

-8.7% from 2023

Average account balance

$44,363

+19.6% from 2023

Annual return

11.29%

-3.70 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

$3.90M

Not enough data

1 years with asset history on file

Average account balance

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

$44K

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.

62.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$612K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+11.29%

Not enough data

1 years with return on file

Admin fee / account holder

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

$279

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 4 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH4 years Filed as: MERRILL LYNCH PIERCE FENNER SMITH Service code 27 · EIN 13-5674085	Advisory (Plan)	$16,665
AZALEA ADMINISTRATION LLC4 years Filed as: AZALEA ADMINISTRATION, LLC Service code 13 · EIN 27-0711617	Contract Administrator	$3,007
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 · EIN 84-0467907	Recordkeeping Fees	$2,194
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 · EIN 84-0467907	Investment Management	$1,229

Plan features & details

Pension benefit codes2E2J2K2G2R3D3H

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.
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

1 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$25K

$243 / participant

Other / not subdivided$25K100.0%

% of EOY assets

0.629%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WARREN AVERETT
Auditor EIN: 454084437
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$44,363

$80,781-45.1%

$102,437-56.7%

$74,478-40.4%

Participation rate

62.4%

65.7%-3.3pp

74.5%-12.1pp

67.2%-4.8pp

Annual return

11.29%

27.58%-16.3pp

24.95%-13.7pp

1370.56%-1359.3pp

Employer contribution / active EE

$2,058

$3,160-34.9%

$3,871-46.8%

$2,626-21.6%

Participant deferral / active EE

$4,006

$3,862+3.7%

$5,060-20.8%

$4,350-7.9%

Admin fee / account holder

$279

$2,372-88.2%

$8,388-96.7%

$1,946-85.7%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH4 years

Filed as: MERRILL LYNCH PIERCE FENNER SMITH

Service code 27 · EIN 13-5674085

Advisory (Plan)

$16,665

AZALEA ADMINISTRATION LLC4 years

Filed as: AZALEA ADMINISTRATION, LLC

Service code 13 · EIN 27-0711617

Contract Administrator

$3,007

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64 · EIN 84-0467907

Recordkeeping Fees

$2,194

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28 · EIN 84-0467907

Investment Management

$1,229

GARRISON STEEL 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GARRISON STEEL 401(K) 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