Plan Snapshot
- Plan Sponsor: The Gorman-Rupp Company
- Sponsor EIN: 340253990
- Sponsor Address: 600 SOUTH AIRPORT ROAD, MANSFIELD, OH, 44903
- Plan Type: DB
- Total Participants: 213
- Total Assets: $56.1M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 213 | $56.1M | $2.7M | $0 |
| 2023 | 231 | $53.7M | $3.4M | $0 |
| 2022 | 236 | $48.4M | $2.0M | $0 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| BANK OF AMERICA | RETAINED BY EMPLOYER | $163,695 | — | $163,695 |
| JOHN HANCOCK RETIREMENT | RETAINED BY EMPLOYER | $150,103 | — | $150,103 |
| COLUMBIA MANAGEMENT | RETAINED BY EMPLOYER | $78,715 | — | $78,715 |
| MEADEN & MOORE | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- JOHN HANCOCK RETIREMENT — RETAINED BY EMPLOYER
- MEADEN & MOORE — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $392,513
- Estimated Expense Ratio: 0.700% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $392,513 | $78,715 | $150,103 | — | — |
| 2023 | $367,352 | $72,596 | $150,000 | — | — |
| 2022 | $413,200 | $85,828 | $150,000 | — | — |