Retirement plan

MILFORD BOAT WORKS, INC. 401(K) PROFIT SHARING PLAN

Name: MILFORD BOAT WORKS, INC. - MILFORD BOAT WORKS, INC. 401(K) PROFIT SHARING PLAN (2015) Form 5500
Creator: MILFORD BOAT WORKS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MILFORD BOAT WORKS, INC. 401(K) PROFIT SHARING PLAN, MILFORD BOAT WORKS, INC.

MILFORD BOAT WORKS, INC.EIN 06-0615213Plan #001PY 2015

ONE HIGH STREET - MILFORD, CT 06460203-877-1475milfordboatworks.comLinkedIn1-10 employeesmaritime

Prospect flagsLow returnsHigh feesLow employer contribution

How to read this page

Total assets (EOY)

$1.4M

No prior year

Total participants

No prior year

Average account balance

$92,695

No prior year

Annual return

-3.94%

No prior year

Benchmarks

See 5,259 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants<25

Cohort5,259 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.05M

Not enough data

1 years with asset history on file

Average account balance

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

$55K

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.

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.

76.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$73K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+13.13%

Not enough data

1 years with return on file

Admin fee / account holder

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

$16393

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
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.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$5K

$325 / participant

Other / not subdivided$5K100.0%

% of EOY assets

0.350%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$92,695

$75,935+22.1%

$60,547+53.1%

$125,389-26.1%

Participation rate

93.3%

76.5%+16.8pp

68.0%+25.4pp

83.2%+10.1pp

Annual return

-3.94%

-5.38%+1.4pp

335.64%-339.6pp

282.24%-286.2pp

Employer contribution / active EE

$300

$3,438-91.3%

$2,419-87.6%

$4,866-93.8%

Participant deferral / active EE

$3,965

$4,506-12.0%

$3,328+19.1%

$5,352-25.9%

Admin fee / account holder

$325

$6,768-95.2%

$4,536-92.8%

$9,541-96.6%

MILFORD BOAT WORKS, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MILFORD BOAT WORKS, INC. 401(K) PROFIT SHARING 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