Retirement plan

GARRISON STEEL 401(K) PLAN

Name: GARRISON STEEL ERECTORS, INC. - GARRISON STEEL 401(K) PLAN (2023) 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 2023

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

+27.4% from 2022

Total participants

138

+3.8% from 2022

Average account balance

$37,097

+29.9% from 2022

Annual return

14.99%

+28.94 pp from 2022

Benchmarks

See 3,251 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,251 peers

Snapshot2023

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 & SMITH3 years Filed as: MERRILL LYNCH PIERCE FENNER SMITH Service code 27 · EIN 13-5674085	Advisory (Plan)	$13,338
AZALEA ADMINISTRATION LLC3 years Filed as: AZALEA ADMINISTRATION, LLC Service code 13 · EIN 27-0711617	Contract Administrator	$2,507
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 · EIN 84-0467907	Recordkeeping Fees	$1,369
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 · EIN 84-0467907	Investment Management	$621

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

$19K

$182 / participant

Salaries / allowances$19K100.0%

% of EOY assets

0.499%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,097

$76,696-51.6%

$96,538-61.6%

$71,529-48.1%

Participation rate

69.2%

66.6%+2.6pp

74.3%-5.2pp

67.9%+1.2pp

Annual return

14.99%

48.32%-33.3pp

35.74%-20.8pp

28.97%-14.0pp

Employer contribution / active EE

$1,936

$3,032-36.2%

$3,740-48.3%

$2,590-25.3%

Participant deferral / active EE

$3,833

$3,770+1.7%

$4,880-21.5%

$4,291-10.7%

Admin fee / account holder

$185

$2,030-90.9%

$6,737-97.3%

$1,588-88.4%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH3 years

Filed as: MERRILL LYNCH PIERCE FENNER SMITH

Service code 27 · EIN 13-5674085

Advisory (Plan)

$13,338

AZALEA ADMINISTRATION LLC3 years

Filed as: AZALEA ADMINISTRATION, LLC

Service code 13 · EIN 27-0711617

Contract Administrator

$2,507

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64 · EIN 84-0467907

Recordkeeping Fees

$1,369

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28 · EIN 84-0467907

Investment Management

$621

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