Retirement plan

GLOBAL ENGINEERING & TECHNOLOGY 401(K) PLAN

Name: GLOBAL ENGINEERING & TECHNOLOGY, INC. - GLOBAL ENGINEERING & TECHNOLOGY 401(K) PLAN (2022) Form 5500
Creator: GLOBAL ENGINEERING & TECHNOLOGY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GLOBAL ENGINEERING & TECHNOLOGY 401(K) PLAN, GLOBAL ENGINEERING & TECHNOLOGY, INC.

GLOBAL ENGINEERING & TECHNOLOGY, INC.EIN 65-1003579Plan #001PY 2022

3191 CORAL WAY, SUITE 403 - MIAMI, FL 331453220305-648-1102getinc.orgLinkedIn51-200 employeesdefense & space

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$8.8M

-20.3% from 2021

Total participants

140

+10.2% from 2021

Average account balance

$70,776

-24.1% from 2021

Annual return

-16.40%

-512.61 pp from 2021

Benchmarks

See 5,987 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,987 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.34M

Not enough data

1 years with asset history on file

Average account balance

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

$96K

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.

118

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.

89.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.42M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+14.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$561

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
PRINCIPAL LIFE INSURANCE COMPANY2 years Service code 13 · EIN 42-0127290	Contract Administrator	$40,977
PRINCIPAL LIFE INSURANCE COMPANY2 years Filed as: PRINCIPAL SECURITIES INC Service code 49 · EIN 42-0941553	Other Services	$28,300
GLOBAL ENGINEERING & TEC1 year Service code 10 · EIN 65-1003579	Accounting	$15,000
WILSHIRE ASSOCIATES INCORPORATED1 year Filed as: WILSHIRE ADVISORS LLC Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$56K

$518 / participant

Contract admin$41K73.2%
Other / not subdivided$15K26.8%

% of EOY assets

0.638%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Qualified opinion

Opinion is qualified - a specific issue limited the scope or accuracy of the audit.

Auditor firm: KABAT, SCHERTZER, DE LA TORRE ET AL
Auditor EIN: 260547877
Audit fees: (not subdivided)
Opinion code: Qualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$70,776

$84,493-16.2%

$125,381-43.6%

$66,938+5.7%

Participation rate

85.2%

76.4%+8.8pp

82.4%+2.8pp

69.8%+15.4pp

Annual return

-16.40%

-8.49%-7.9pp

572.31%-588.7pp

1.58%-18.0pp

Employer contribution / active EE

$3,350

$3,554-5.7%

$4,815-30.4%

$2,545+31.6%

Participant deferral / active EE

$8,609

$6,783+26.9%

$7,448+15.6%

$4,238+103.1%

Admin fee / account holder

$451

$685-34.1%

$10,007-95.5%

$594-23.9%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY2 years

Service code 13 · EIN 42-0127290

Contract Administrator

$40,977

PRINCIPAL LIFE INSURANCE COMPANY2 years

Filed as: PRINCIPAL SECURITIES INC

Service code 49 · EIN 42-0941553

Other Services

$28,300

GLOBAL ENGINEERING & TEC1 year

Service code 10 · EIN 65-1003579

Accounting

$15,000

WILSHIRE ASSOCIATES INCORPORATED1 year

Filed as: WILSHIRE ADVISORS LLC

Service code 27 · EIN 95-2755361

Advisory (Plan)

GLOBAL ENGINEERING & TECHNOLOGY 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GLOBAL ENGINEERING & TECHNOLOGY 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