Retirement plan

TGS-NOPEC GEOPHYSICAL COMPANY 401(K) PROFIT SHARING PLAN

Name: TGS-NOPEC GEOPHYSICAL COMPANY - TGS-NOPEC GEOPHYSICAL COMPANY 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: TGS-NOPEC GEOPHYSICAL COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TGS-NOPEC GEOPHYSICAL COMPANY 401(K) PROFIT SHARING PLAN, TGS-NOPEC GEOPHYSICAL COMPANY

TGS-NOPEC GEOPHYSICAL COMPANYEIN 76-0170405Plan #001PY 2023

10451 CLAY ROAD - HOUSTON, TX 77043713-860-2100LinkedIn501-1000 employeesmining & metals

Prospect flagsLow returnsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$104.6M

+10.7% from 2022

Total participants

514

-1.7% from 2022

Average account balance

$205,562

+13.7% from 2022

Annual return

16.59%

+26.05 pp from 2022

Benchmarks

See 3,232 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,232 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$144.10M

Not enough data

1 years with asset history on file

Average account balance

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

$264K

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.

545

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.

81.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$8.16M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$21K

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

+47.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$535

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
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 13 · EIN 06-1050034 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Contract Administrator	$154,175
MORGAN STANLEY SMITH BARNEY6 years Filed as: MORGAN STANLEY GLOBAL BANKING OPERA Service code 27 · EIN 20-8764829	Advisory (Plan)	$45,000

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3H

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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$199K

$632 / participant

Investment mgmt$45K22.6%
Contract admin$154K77.4%

% of EOY assets

0.190%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CROWE LLP
Auditor EIN: 350921680
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$205,562

$95,417+115.4%

$135,974+51.2%

$74,460+176.1%

Participation rate

98.4%

78.2%+20.2pp

81.9%+16.5pp

70.7%+27.7pp

Annual return

16.59%

32.76%-16.2pp

68.30%-51.7pp

34.38%-17.8pp

Employer contribution / active EE

$7,964

$3,878+105.4%

$4,859+63.9%

$2,638+201.9%

Participant deferral / active EE

$13,966

$7,789+79.3%

$7,760+80.0%

$4,530+208.3%

Admin fee / account holder

$391

$266+46.9%

$10,767-96.4%

$348+12.4%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 13 · EIN 06-1050034

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Contract Administrator

$154,175

MORGAN STANLEY SMITH BARNEY6 years

Filed as: MORGAN STANLEY GLOBAL BANKING OPERA

Service code 27 · EIN 20-8764829

Advisory (Plan)

$45,000

TGS-NOPEC GEOPHYSICAL COMPANY 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TGS-NOPEC GEOPHYSICAL COMPANY 401(K) PROFIT SHARING 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