Retirement plan

BSA-ILA RETIREMENT ACCOUNT PLAN

Name: BOSTON SHIPPING ASSOCIATION, INC. - BSA-ILA RETIREMENT ACCOUNT PLAN (2023) Form 5500
Creator: BOSTON SHIPPING ASSOCIATION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BSA-ILA RETIREMENT ACCOUNT PLAN, BOSTON SHIPPING ASSOCIATION, INC.

BOSTON SHIPPING ASSOCIATION, INC.EIN 04-2034907Plan #002PY 2023

CHARLESTOWN NAVY YARD, 197 8TH ST, STE 775 - CHARLESTOWN, MA 021294208617-242-3303bostonshippingassoc.comLinkedIn1-10 employees

Other plans on this EIN

1 filing

#001Retirement-$1.0M assets

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$42.4M

+18.3% from 2022

Total participants

426

-0.5% from 2022

Average account balance

$109,216

+18.9% from 2022

Annual return

15.97%

+35.90 pp from 2022

Benchmarks

See 664 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants250-999

Cohort664 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$52.82M

Not enough data

1 years with asset history on file

Average account balance

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

$135K

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.

391

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.

89.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.03M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+27.21%

Not enough data

1 years with return on file

Admin fee / account holder

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

$282

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

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

Service providers

Top 5 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL7 years Filed as: FIDELITY INVESTMENT INSTL OPERATION Service code 37 · EIN 04-2647786 FIDELITY INVESTMENTS INTL OPERATION · BOSTON, MA 02110	Loan Processing	$34,051
GLOBAL RETIREMENT PARTNERS LLC1 year Service code 27 · EIN 47-1411118	Advisory (Plan)	$25,000
WALTER & SHUFFAIN, P.C.3 years Service code 99 · EIN 04-3236498 ONE INTERNATIONAL PLACE, SUITE 1010 · BOSTON, MA 02110	Other Fees	$24,500
CHUBB3 years Filed as: CHUBB INC HOLDINGS INC Service code 23 · EIN 95-2371728 436 WALNUT STREET WA03N · PHILADELPHIA, PA 19106	Insurance services	$9,990
BOSTON SHIPPING ASSOC.8+ years Service code 13 · EIN 04-2034907 197 8TH STREET, SUITE 775 · CHARLESTOWN, MA 02129	Contract Administrator	$5,836

Plan features & details

Pension benefit codes2C2J

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit plan.
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.

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$110K

$290 / participant

Investment mgmt$59K53.7%
Contract admin$6K5.3%
Other / not subdivided$45K41.0%

% of EOY assets

0.260%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WALTER & SHUFFAIN, P.C.
Auditor EIN: 043236498
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$109,216

$49,763+119.5%

$70,565+54.8%

$74,473+46.7%

Participation rate

90.0%

64.6%+25.3pp

68.4%+21.6pp

70.7%+19.2pp

Annual return

15.97%

21.21%-5.2pp

32.79%-16.8pp

34.36%-18.4pp

Employer contribution / active EE

$4,867

$1,776+174.1%

$2,976+63.6%

$2,638+84.5%

Participant deferral / active EE

$3,379-100.0%

$4,568-100.0%

$4,530-100.0%

Admin fee / account holder

$284

$316-10.3%

$6,430-95.6%

$347-18.3%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL7 years

Filed as: FIDELITY INVESTMENT INSTL OPERATION

Service code 37 · EIN 04-2647786

FIDELITY INVESTMENTS INTL OPERATION · BOSTON, MA 02110

Loan Processing

$34,051

GLOBAL RETIREMENT PARTNERS LLC1 year

Service code 27 · EIN 47-1411118

Advisory (Plan)

$25,000

WALTER & SHUFFAIN, P.C.3 years

Service code 99 · EIN 04-3236498

ONE INTERNATIONAL PLACE, SUITE 1010 · BOSTON, MA 02110

Other Fees

$24,500

CHUBB3 years

Filed as: CHUBB INC HOLDINGS INC

Service code 23 · EIN 95-2371728

436 WALNUT STREET WA03N · PHILADELPHIA, PA 19106

Insurance services

$9,990

BOSTON SHIPPING ASSOC.8+ years

Service code 13 · EIN 04-2034907

197 8TH STREET, SUITE 775 · CHARLESTOWN, MA 02129

Contract Administrator

$5,836

BSA-ILA RETIREMENT ACCOUNT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BSA-ILA RETIREMENT ACCOUNT 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