Retirement plan

GLENN MACHINE WORKS, INC. 401(K) PLAN

Name: GLENN MACHINE WORKS, INC. - GLENN MACHINE WORKS, INC. 401(K) PLAN (2022) Form 5500
Creator: GLENN MACHINE WORKS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GLENN MACHINE WORKS, INC. 401(K) PLAN, GLENN MACHINE WORKS, INC.

GLENN MACHINE WORKS, INC.EIN 64-0470007Plan #001PY 2022

P.O. BOX 1247 - COLUMBUS, MS 39703662-328-4611

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$7.4M

-11.6% from 2021

Total participants

221

-2.2% from 2021

Average account balance

$36,191

-13.4% from 2021

Annual return

-16.25%

-28.51 pp from 2021

Benchmarks

See 4,067 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,067 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.40M

Not enough data

1 years with asset history on file

Average account balance

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

$48K

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.

217

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.

89.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$997K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+11.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$403

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 5 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$74,240
VALMARK ADVISERS INC8+ years Filed as: VALMARK SECURITIES Service code 55 130 SPRINGSIDE DR. 300 · AKRON, OH 44333	Other Commissions	$36,282
T. E. LOTT AND COMPANY8+ years Filed as: T. E. LOTT AND COMAPNY Service code 13	Contract Administrator	$7,561
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$3,842
T. E. LOTT AND COMPANY8+ years Filed as: T. E. LOTT & COMPANY Service code 13 221 7TH STREET NORTH · COLUMBUS, MS 39703	Contract Administrator	$650

Plan features & details

Pension benefit codes2G2J2K3D

Plan features

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.
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.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$77K

$520 / participant

Contract admin$77K100.0%

% of EOY assets

1.049%

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: NAIL MCKINNEY P.A.
Auditor EIN: 640760834
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$36,191

$65,453-44.7%

$86,691-58.3%

$66,930-45.9%

Participation rate

88.6%

75.5%+13.1pp

76.6%+12.0pp

69.8%+18.8pp

Annual return

-16.25%

-10.89%-5.4pp

35.94%-52.2pp

1.57%-17.8pp

Employer contribution / active EE

$1,988

$2,154-7.7%

$2,837-29.9%

$2,545-21.9%

Participant deferral / active EE

$4,037

$4,102-1.6%

$4,656-13.3%

$4,238-4.7%

Admin fee / account holder

$380

$642-40.9%

$7,492-94.9%

$593-36.0%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$74,240

VALMARK ADVISERS INC8+ years

Filed as: VALMARK SECURITIES

Service code 55

130 SPRINGSIDE DR. 300 · AKRON, OH 44333

Other Commissions

$36,282

T. E. LOTT AND COMPANY8+ years

Filed as: T. E. LOTT AND COMAPNY

Service code 13

Contract Administrator

$7,561

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$3,842

T. E. LOTT AND COMPANY8+ years

Filed as: T. E. LOTT & COMPANY

Service code 13

221 7TH STREET NORTH · COLUMBUS, MS 39703

Contract Administrator

$650

GLENN MACHINE WORKS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GLENN MACHINE WORKS, INC. 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