Retirement plan

THE GARIBALDI COMPANY 401(K) PROFIT SHARING PLAN AND TRUST

Name: MGD, INC. DBA THE GARIBALDI COMPANY - THE GARIBALDI COMPANY 401(K) PROFIT SHARING PLAN AND TRUST (2023) Form 5500
Creator: MGD, INC. DBA THE GARIBALDI COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE GARIBALDI COMPANY 401(K) PROFIT SHARING PLAN AND TRUST, MGD, INC. DBA THE GARIBALDI COMPANY

MGD, INC. DBA THE GARIBALDI COMPANYEIN 68-0348797Plan #001PY 2023

3525 WEST BENJAMIN HOLT DRIVE - STOCKTON, CA 95219209-955-0535

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$8.5M

+26.7% from 2022

Total participants

156

+6.8% from 2022

Average account balance

$56,556

+16.6% from 2022

Annual return

21.23%

+45.67 pp from 2022

Benchmarks

See 1,068 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants100-249

Cohort1,068 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.35M

Not enough data

1 years with asset history on file

Average account balance

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

$66K

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.

157

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.

97.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$846K

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

+15.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$114

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
SCHWARTZ, STEINSAPIR, ET AL4 years Filed as: SCHWARTZ GIANNINI LANTSBERGER & ADA Service code 10 4578 FEATHER RIVER DR STE D · STOCKTON, CA 95219	Accounting	$9,650
AMERICAN FUNDS5 years Filed as: CAPITAL GROUP RETIREMENT PLAN SVCS. Service code 25 · EIN 82-4555287	Directed Trustee	$7,022

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

2 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$17K

$123 / participant

Recordkeeping$7K42.1%
Other / not subdivided$10K57.9%

% of EOY assets

0.195%

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: SCHWARTZ GIANNINI LANTSBERGER &
Auditor EIN: 680290029
Audit fees: $9,650
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$56,556

$65,428-13.6%

$169,397-66.6%

$71,529-20.9%

Participation rate

96.3%

66.9%+29.4pp

77.2%+19.1pp

67.9%+28.4pp

Annual return

21.23%

21.35%-0.1pp

406.23%-385.0pp

28.97%-7.7pp

Employer contribution / active EE

$1,562

$2,064-24.3%

$4,013-61.1%

$2,590-39.7%

Participant deferral / active EE

$3,645

$4,360-16.4%

$6,223-41.4%

$4,291-15.1%

Admin fee / account holder

$110

$1,328-91.7%

$9,017-98.8%

$1,588-93.0%

Provider

Service type

Compensation

SCHWARTZ, STEINSAPIR, ET AL4 years

Filed as: SCHWARTZ GIANNINI LANTSBERGER & ADA

Service code 10

4578 FEATHER RIVER DR STE D · STOCKTON, CA 95219

Accounting

$9,650

AMERICAN FUNDS5 years

Filed as: CAPITAL GROUP RETIREMENT PLAN SVCS.

Service code 25 · EIN 82-4555287

Directed Trustee

$7,022

THE GARIBALDI COMPANY 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE GARIBALDI COMPANY 401(K) PROFIT SHARING PLAN AND TRUST

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