Retirement plan

GLOBE MACHINE MANUFACTURING COMPANY 401(K) PROFIT SHARING PLAN AND TRUST

Name: GLOBE MACHINE MANUFACTURING COMPANY - GLOBE MACHINE MANUFACTURING COMPANY 401(K) PROFIT SHARING PLAN AND TRUST (2024) Form 5500
Creator: GLOBE MACHINE MANUFACTURING COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GLOBE MACHINE MANUFACTURING COMPANY 401(K) PROFIT SHARING PLAN AND TRUST, GLOBE MACHINE MANUFACTURING COMPANY

GLOBE MACHINE MANUFACTURING COMPANYEIN 91-0235240Plan #001PY 2024

PO BOX 2274 - TACOMA, WA 98401253-383-2584globemachine.comLinkedIn51-200 employeesmachinery

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$11.2M

-2.3% from 2023

Total participants

173

-1.7% from 2023

Average account balance

$64,945

-3.4% from 2023

Annual return

10.16%

-3.41 pp from 2023

Benchmarks

See 4,103 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,103 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.17M

Not enough data

1 years with asset history on file

Average account balance

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

$65K

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.

172

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.

99.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.56M

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

+10.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$627

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 5 by compensation

Provider	Service type	Compensation
GALLAGHER FIDUCIARY ADVISORS, LLC3 years Filed as: GALLAGHER BENEFIT SERVICES Service code 27	Advisory (Plan)	$28,232
KESTRA INVESTMENT SERVICES LLC6 years Filed as: KESTRA ADVISORY SERVICES LLC Service code 99	Other Fees	$26,249
MOSS ADAMS LLP6 years Filed as: MOSS ADAMS Service code 10 · EIN 91-1891822	Accounting	$23,100
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 · EIN 84-0467907	Recordkeeping Fees	$20,680
HUNNEX AND SHOEMAKER, INC.8 years Filed as: HUNNEX AND SHOMAKER, INC. Service code 13	Contract Administrator	$12,191

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.

Opportunity flags

2 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.

Expense breakdown

Schedule H Part II

Admin total

$108K

$793 / participant

Investment mgmt$108K100.0%

% of EOY assets

0.966%

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: BAKER TILLY US, LLP
Auditor EIN: 301413443
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$64,945

$79,181-18.0%

$102,423-36.6%

$74,429-12.7%

Participation rate

99.3%

74.8%+24.5pp

76.5%+22.8pp

67.2%+32.0pp

Annual return

10.16%

54.97%-44.8pp

29.42%-19.3pp

1368.38%-1358.2pp

Employer contribution / active EE

$5,044

$2,362+113.6%

$3,023+66.9%

$2,625+92.2%

Participant deferral / active EE

$6,456

$4,416+46.2%

$5,054+27.7%

$4,348+48.5%

Admin fee / account holder

$627

$2,002-68.7%

$9,455-93.4%

$1,944-67.7%

Provider

Service type

Compensation

GALLAGHER FIDUCIARY ADVISORS, LLC3 years

Filed as: GALLAGHER BENEFIT SERVICES

Service code 27

Advisory (Plan)

$28,232

KESTRA INVESTMENT SERVICES LLC6 years

Filed as: KESTRA ADVISORY SERVICES LLC

Service code 99

Other Fees

$26,249

MOSS ADAMS LLP6 years

Filed as: MOSS ADAMS

Service code 10 · EIN 91-1891822

Accounting

$23,100

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64 · EIN 84-0467907

Recordkeeping Fees

$20,680

HUNNEX AND SHOEMAKER, INC.8 years

Filed as: HUNNEX AND SHOMAKER, INC.

Service code 13

Contract Administrator

$12,191

GLOBE MACHINE MANUFACTURING COMPANY 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GLOBE MACHINE MANUFACTURING COMPANY 401(K) PROFIT SHARING PLAN AND 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