Retirement plan

GULF MACHINE SHOP, INC. PROFIT SHARING 401K PLAN

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

GULF MACHINE SHOP, INC.EIN 72-0646775Plan #001PY 2022

PO BOX 16779 - LAKE CHARLES, LA 706166779337-436-9411gulfmachineshop.comLinkedIn51-200 employees

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$8.1M

-25.0% from 2021

Total participants

-4.9% from 2021

Average account balance

$104,387

-21.2% from 2021

Annual return

-15.58%

-31.93 pp from 2021

Benchmarks

See 14,491 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,491 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.90M

Not enough data

1 years with asset history on file

Average account balance

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

$130K

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.

129.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$611K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+10.19%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8922

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

$1.5M

$26853 / participant

Other / not subdivided$1M100.0%

% of EOY assets

18.139%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$104,387

$71,873+45.2%

$86,698+20.4%

$68,490+52.4%

Participation rate

100.0%

72.2%+27.8pp

76.6%+23.4pp

67.9%+32.1pp

Annual return

-15.58%

3.54%-19.1pp

35.96%-51.5pp

-7.85%-7.7pp

Employer contribution / active EE

$4,545

$2,173+109.1%

$2,837+60.2%

$2,597+75.0%

Participant deferral / active EE

$3,005

$3,779-20.5%

$4,656-35.5%

$4,028-25.4%

Admin fee / account holder

$18,935

$6,110+209.9%

$7,492+152.7%

$5,403+250.5%

GULF MACHINE SHOP, INC. PROFIT SHARING 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GULF MACHINE SHOP, INC. PROFIT SHARING 401K 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