Retirement plan

GERALD H. PHIPPS, INC. EMPLOYEE'S 401(K) PLAN

Name: GERALD H. PHIPPS, INC. - GERALD H. PHIPPS, INC. EMPLOYEE'S 401(K) PLAN (2024) Form 5500
Creator: GERALD H. PHIPPS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GERALD H. PHIPPS, INC. EMPLOYEE'S 401(K) PLAN, GERALD H. PHIPPS, INC.

GERALD H. PHIPPS, INC.dba GH PHIPPS CONSTRUCTION COMPANIESEIN 84-0423359Plan #011PY 2024

5995 GREENWOOD PLAZA BLVD STE 100 - GREENWOOD VILLAGE, CO 801114710303-389-3754

Other plans on this EIN

1 filing

#007Retirement-$55.2M assets

Prospect flagsLow employer contributionFailed to provide benefitCorrective distributions

How to read this page

Total assets (EOY)

$19M

+13.2% from 2023

Total participants

300

+9.9% from 2023

Average account balance

$71,154

+0.0% from 2023

Annual return

13.98%

-4.74 pp from 2023

Benchmarks

See 3,446 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,446 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$19.00M

Not enough data

1 years with asset history on file

Average account balance

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

$71K

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.

267

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.

85.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.65M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+13.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$283

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
GLOBAL RETIREMENT PARTNERS LLC9 years Service code 27 · EIN 47-1411118	Advisory (Plan)	$42,640
FIDELITY INVESTMENTS INSTITUTIONAL6 years Service code 37 · EIN 04-2647786	Loan Processing	$30,514

Plan features & details

Pension benefit codes2F2G2J2S2T2E3F3H3D

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.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
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

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$75K

$322 / participant

Recordkeeping$31K40.4%
Investment mgmt$45K59.6%

% of EOY assets

0.397%

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: PLANTE & MORAN, PLLC
Auditor EIN: 331498605
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$71,154

$80,748-11.9%

$102,383-30.5%

$74,429-4.4%

Participation rate

85.9%

65.7%+20.2pp

74.5%+11.4pp

67.2%+18.7pp

Annual return

13.98%

27.57%-13.6pp

24.94%-11.0pp

1368.38%-1354.4pp

Employer contribution / active EE

$3,159-100.0%

$3,870-100.0%

$2,625-100.0%

Participant deferral / active EE

$7,064

$3,861+83.0%

$5,060+39.6%

$4,348+62.5%

Admin fee / account holder

$283

$2,371-88.1%

$8,391-96.6%

$1,944-85.5%

Provider

Service type

Compensation

GLOBAL RETIREMENT PARTNERS LLC9 years

Service code 27 · EIN 47-1411118

Advisory (Plan)

$42,640

FIDELITY INVESTMENTS INSTITUTIONAL6 years

Service code 37 · EIN 04-2647786

Loan Processing

$30,514

GERALD H. PHIPPS, INC. EMPLOYEE'S 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GERALD H. PHIPPS, INC. EMPLOYEE'S 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