Plan Ledger DOL Form 5500 · updated monthly

General Engineering Co. of VirginiaESOP

GENERAL ENGINEERING CO. OF VIRGINIA EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST · ABINGDON, VA · plan year 2024

Employer contribution per participant · 2024
$2,733

General Engineering Co. of Virginia'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 $38,920,809 across 240 participant accounts, with employer contributions averaging $2,733 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other manufacturing employers. By assets it is the 602nd-largest of 2,266 plans among Virginia employers on file, and the 3,762nd of 13,661 in manufacturing. active participation has grown from 143 to 174 since 2022.

Plan summary
Net assets, end of year$38,920,809
Participants with balances240
Active participants174
Employer contributions$475,526
Employee contributions—
Employer contribution per active participant$2,733
Average account balance$162,170
Benefits paid to participants$2,231,735
Plan auditUnmodified (clean) audit opinion
Plan history3
Yearassets · accounts · employer contribution
2024$38.9M · 240 accts · $476K emplr
2023$29.4M · 226 accts · $1.2M emplr
2022$27.0M · 214 accts · $1.4M emplr
Employer contributions to the General Engineering Co. of Virginia plan · 2024
Employer contribution per active participant$2,733
Median for plans this size$2,416
2024$2,733 per active participant
2023$7,388 per active participant
2022$9,532 per active participant

General Engineering Co. of Virginia's 2024 employer contribution ran above the $2,416 median for plans its size. 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.

Administrative cost history3
2024Not separately reported
2023Not separately reported
2022Not separately reported
Same employer
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Qubicaamf Worldwide, LLC VA$42.4M · 0.48%
Blueprint Automation, Inc. VA$36.7M · 0.33%
Iba USA, Inc. VA$35.9M · 0.33%
Fareva Richmond, Inc VA$35.7M · 0.55%

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Source: U.S. Department of Labor, Form 5500 series, EIN 540912795 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.