Gulf Island Fabrication, Inc. 401(k) Review & Grade
Gulf Island Fabrication Inc. Qualified Retirement Plan
Houston, TXManufacturing794 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$892Employer $ per active participant
$4,130Employee $ saved per active participant
0.31%Direct admin cost, % of plan assets
$57.6MNet plan assets, end of year
$54,727Average balance per account
Score breakdown
- Employer generosity7.1 / 5014th percentile for employer $ per participant
- Low cost9.7 / 2539th percentile for low admin cost vs. same-size plans
- Employee saving5.8 / 1539th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score16 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 14th |
| Lower admin cost | 39th |
| Employee saving | 39th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Gulf Island Fabrication put in about $892 per active participant, below the typical peer ($2,320). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $707,488 |
| Participant (employee) contributions | $3,277,207 |
| Other contributions (incl. rollovers in) | $577,106 |
| Administrative expenses paid from the plan | $176,544 |
| Other admin expenses | $35,000 |
| Benefits paid out | $8,931,084 |
| Net assets, start / end of year | $54.7M / $57.6M |
| Active participants, start / end of year | 807 / 780 |
| Participants with account balances | 1,052 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Eisneramper LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $141,544 reported compensation |
| Prime Capital Investment Advisors, | $35,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250912112713NAL0003522242001, received 2025-09-12, EIN 72-1147390, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.