Gear Motions, Inc.ESOP
GEAR MOTIONS, INC. EMPLOYEE STOCK OWNERSHIP PLAN · SYRACUSE, NY · plan year 2024
Gear Motions, Inc.'s 2024 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $4,938,805 across 117 participant accounts, with employer contributions averaging $5,609 per active participant. See methodology for what Form 5500 does and doesn't capture.
The plan sits in the $1M–$10M size bracket, benchmarked here against 18,840 comparable plans and shown alongside other manufacturing employers. By assets it is among the smaller plans on file in New York (4,484th of 5,648), and 11,244th of 13,661 in manufacturing.
Gear Motions, Inc.'s 2024 employer contribution ran above the $1,313 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
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Source: U.S. Department of Labor, Form 5500 series, EIN 042518333 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.