Retirement plan

GLOBITECH INCORPORATED 401(K) PROFIT SHARING PLAN & TRUST

Name: GLOBITECH, INCORPRATED - GLOBITECH INCORPORATED 401(K) PROFIT SHARING PLAN & TRUST (2017) Form 5500
Creator: GLOBITECH, INCORPRATED
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GLOBITECH INCORPORATED 401(K) PROFIT SHARING PLAN & TRUST, GLOBITECH, INCORPRATED

GLOBITECH, INCORPRATEDEIN 75-2793645Plan #001PY 2017

200 FM 1417 WEST - SHERMAN, TX 75092903-957-1925globitech.comLinkedIn51-200 employeessemiconductors

Prospect flagsLow returnsHigh cashFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$7M

+27.6% from 2016

Total participants

216

+4.3% from 2016

Average account balance

$38,219

+24.1% from 2016

Annual return

15.20%

+2.19 pp from 2016

Benchmarks

See 5,160 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,160 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$121.19M

Not enough data

1 years with asset history on file

Average account balance

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

$164K

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.

739

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.

92.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.90M

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

+14.59%

Not enough data

1 years with return on file

Admin fee / account holder

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

$133

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
GOLDIN PEISER & PEISER1 year Filed as: GOLDIN PEISER & PEISER LLP Service code 10 · EIN 75-2515294	Accounting	$25,770
TRANSAMERICA RETIREMENT SOLUTIONS1 year Service code 15 · EIN 13-3689044	Recordkeeping	$22,434
NOVA 401(K) ASSOCIATES1 year Filed as: NOVA 401K ASSOCIATES Service code 15 · EIN 20-1181458	Recordkeeping	$8,541
MESIROW FINANCIAL INVESTMENT MANAGE1 year Filed as: MESIROW FINANCIAL, INC Service code 27 · EIN 36-3194849	Advisory (Plan)	$1,209

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H2S

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.
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

4 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
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

$6K

$30 / participant

Contract admin$6K100.0%

% of EOY assets

0.079%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: GOLDIN PEISER & PEISER LLP
Auditor EIN: 752515294
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$38,219

$80,753-52.7%

$136,298-72.0%

$62,293-38.6%

Participation rate

81.8%

73.5%+8.3pp

81.9%-0.1pp

69.5%+12.3pp

Annual return

15.20%

35.83%-20.6pp

5156.27%-5141.1pp

28.90%-13.7pp

Employer contribution / active EE

$967

$2,884-66.5%

$4,696-79.4%

$2,042-52.7%

Participant deferral / active EE

$3,294

$5,164-36.2%

$6,247-47.3%

$3,169+3.9%

Admin fee / account holder

$30

$525-94.2%

$9,244-99.7%

$479-93.7%

Provider

Service type

Compensation

GOLDIN PEISER & PEISER1 year

Filed as: GOLDIN PEISER & PEISER LLP

Service code 10 · EIN 75-2515294

Accounting

$25,770

TRANSAMERICA RETIREMENT SOLUTIONS1 year

Service code 15 · EIN 13-3689044

Recordkeeping

$22,434

NOVA 401(K) ASSOCIATES1 year

Filed as: NOVA 401K ASSOCIATES

Service code 15 · EIN 20-1181458

Recordkeeping

$8,541

MESIROW FINANCIAL INVESTMENT MANAGE1 year

Filed as: MESIROW FINANCIAL, INC

Service code 27 · EIN 36-3194849

Advisory (Plan)

$1,209

GLOBITECH INCORPORATED 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GLOBITECH INCORPORATED 401(K) PROFIT SHARING PLAN & 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