Retirement plan

GOLDEN STATE ENGINEERING, INC. 401(K) PROFIT SHARING PLAN

Name: GOLDEN STATE ENGINEERING, INC. - GOLDEN STATE ENGINEERING, INC. 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: GOLDEN STATE ENGINEERING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GOLDEN STATE ENGINEERING, INC. 401(K) PROFIT SHARING PLAN, GOLDEN STATE ENGINEERING, INC.

GOLDEN STATE ENGINEERING, INC.EIN 95-2644713Plan #001PY 2022

15338 SOUTH GARFIELD AVENUE - PARAMOUNT, CA 90723562-634-3125goldenstateeng.comLinkedIn201-500 employeesmachinery

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$10.5M

-22.0% from 2021

Total participants

164

-8.9% from 2021

Average account balance

$96,346

+0.2% from 2021

Annual return

-15.92%

-28.47 pp from 2021

Benchmarks

See 4,068 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,068 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.39M

Not enough data

1 years with asset history on file

Average account balance

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

$84K

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.

124

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.

70.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$131K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$953

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

+10.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 1 by compensation

Provider	Service type	Compensation
NEWPORT GROUP, INC.1 year Service code 13 · EIN 27-2037969	Contract Administrator	$14,602

Plan features & details

Pension benefit codes2E2F2H2J2S2T3D

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$15K

$104 / participant

Contract admin$2K11.5%
Other / not subdivided$13K88.5%

% of EOY assets

0.139%

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: BPM LLP
Auditor EIN: 814234542
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$96,346

$65,437+47.2%

$86,698+11.1%

$66,949+43.9%

Participation rate

61.0%

75.5%-14.5pp

76.6%-15.6pp

69.8%-8.8pp

Annual return

-15.92%

-10.91%-5.0pp

35.96%-51.9pp

1.57%-17.5pp

Employer contribution / active EE

$2,154-100.0%

$2,837-100.0%

$2,545-100.0%

Participant deferral / active EE

$759

$4,102-81.5%

$4,656-83.7%

$4,239-82.1%

Admin fee / account holder

$134

$642-79.1%

$7,492-98.2%

$594-77.4%

Provider

Service type

Compensation

NEWPORT GROUP, INC.1 year

Service code 13 · EIN 27-2037969

Contract Administrator

$14,602

GOLDEN STATE ENGINEERING, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GOLDEN STATE ENGINEERING, INC. 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