Retirement plan

GLOBAL ATLANTIC FINANCIAL COMPANY 401(K) PLAN

Name: GLOBAL ATLANTIC FINANCIAL COMPANY - GLOBAL ATLANTIC FINANCIAL COMPANY 401(K) PLAN (2021) Form 5500
Creator: GLOBAL ATLANTIC FINANCIAL COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GLOBAL ATLANTIC FINANCIAL COMPANY 401(K) PLAN, GLOBAL ATLANTIC FINANCIAL COMPANY

GLOBAL ATLANTIC FINANCIAL COMPANYEIN 90-0928452Plan #001PY 2021

30 HUDSON YARDS, 500 WEST 33RD STREET - NEW YORK, NY 10001515-393-3721LinkedIn11-50 employees

Prospect flagsFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed November 10, 2020 (most recent of 2 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

215 10th St, Ste 1100

Des Moines, IA 50309

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Plans declared (1)

Global Atlantic Financial Company Board and Executive Deferred Compensation Plan100 emp

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Total assets (EOY)

$239.4M

-15.2% from 2016

Total participants

1,581

-7.5% from 2016

Average account balance

$154,474

-6.9% from 2016

Annual return

16.49%

-9.35 pp from 2016

Benchmarks

See 323 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort323 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$337.08M

Not enough data

1 years with asset history on file

Average account balance

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

$160K

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.

2,113

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.

98.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$39.58M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$24K

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

+17.35%

Not enough data

1 years with return on file

Admin fee / account holder

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

$98

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 2 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL7+ years Service code 37 · EIN 04-2647786	Loan Processing	$117,635
STRATEGIC ADVISORS, INC.7+ years Service code 27 · EIN 04-2654524	Advisory (Plan)	$77,978

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

2 tripped

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

$196K

$159 / participant

Investment mgmt$78K39.9%
Other / not subdivided$118K60.1%

% of EOY assets

0.082%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: DELOITTE & TOUCHE LLP
Auditor EIN: 133891517
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$154,474

$45,719+237.9%

$96,188+60.6%

$93,010+66.1%

Participation rate

97.5%

45.8%+51.6pp

68.4%+29.0pp

73.9%+23.6pp

Annual return

16.49%

3211.95%-3195.5pp

192.12%-175.6pp

158.70%-142.2pp

Employer contribution / active EE

$7,889

$1,139+592.9%

$2,800+181.8%

$2,705+191.6%

Participant deferral / active EE

$12,634

$2,344+438.9%

$4,350+190.4%

$4,561+177.0%

Admin fee / account holder

$126

$128-1.4%

$5,538-97.7%

$152-16.8%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL7+ years

Service code 37 · EIN 04-2647786

Loan Processing

$117,635

STRATEGIC ADVISORS, INC.7+ years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$77,978

GLOBAL ATLANTIC FINANCIAL COMPANY 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GLOBAL ATLANTIC FINANCIAL COMPANY 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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