Retirement plan

GORMAN INDUSTRIES, INC. EMPLOYEES PROFIT SHARING PLAN

Name: GORMAN INDUSTRIES, INC. - GORMAN INDUSTRIES, INC. EMPLOYEES PROFIT SHARING PLAN (2017) Form 5500
Creator: GORMAN INDUSTRIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GORMAN INDUSTRIES, INC. EMPLOYEES PROFIT SHARING PLAN, GORMAN INDUSTRIES, INC.

GORMAN INDUSTRIES, INC.EIN 85-0101522Plan #001PY 2017

PO BOX 743 - ALBUQUERQUE, NM 87103505-247-1596

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2.1M

+20.2% from 2016

Total participants

+6.3% from 2016

Average account balance

$125,282

+13.1% from 2016

Annual return

11.08%

-4.17 pp from 2016

Benchmarks

See 22,202 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort22,202 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.23M

Not enough data

1 years with asset history on file

Average account balance

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

$223K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$119K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+18.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$262257

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 codes2E2F2G3D

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$15K

$1061 / participant

Other / not subdivided$15K100.0%

% of EOY assets

0.697%

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

$125,282

$144,130-13.1%

$117,861+6.3%

$147,586-15.1%

Participation rate

100.0%

83.4%+16.6pp

79.7%+20.3pp

82.8%+17.2pp

Annual return

11.08%

531.20%-520.1pp

335.11%-324.0pp

578.59%-567.5pp

Employer contribution / active EE

$11,824

$4,897+141.5%

$3,786+212.3%

$4,876+142.5%

Participant deferral / active EE

$5,316-100.0%

$4,482-100.0%

$5,439-100.0%

Admin fee / account holder

$873

$10,887-92.0%

$8,021-89.1%

$10,886-92.0%

GORMAN INDUSTRIES, INC. EMPLOYEES PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GORMAN INDUSTRIES, INC. EMPLOYEES 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