Retirement plan

CROSS SOUND FERRY & COMPANIES 401(K) / PS PLAN

Name: CROSS SOUND FERRY & COMPANIES - CROSS SOUND FERRY & COMPANIES 401(K) / PS PLAN (2023) Form 5500
Creator: CROSS SOUND FERRY & COMPANIES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CROSS SOUND FERRY & COMPANIES 401(K) / PS PLAN, CROSS SOUND FERRY & COMPANIES

CROSS SOUND FERRY & COMPANIESEIN 06-0918288Plan #002PY 2023

2 FERRY STREET, P.O BOX 33 - NEW LONDON, CT 06320860-443-7394LinkedIn201-500 employeesmaritime

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$36.9M

+16.1% from 2022

Total participants

383

+1.3% from 2022

Average account balance

$109,382

+12.3% from 2022

Annual return

13.91%

+30.55 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

$40.26M

Not enough data

1 years with asset history on file

Average account balance

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

$146K

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.

276

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.

79.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.27M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+9.18%

Not enough data

1 years with return on file

Admin fee / account holder

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

$246

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 2 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH5 years Filed as: MERRILL LYNCH RETIREMENT & BENEFIT Service code 27 · EIN 13-5674085	Advisory (Plan)	$34,600
ASCENSUS LLC6 years Service code 15 · EIN 11-3665754	Recordkeeping	$33,219

Plan features & details

Pension benefit codes2E3D2G2J2F2T

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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
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

1 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$68K

$253 / participant

Investment mgmt$35K51.0%
Contract admin$33K49.0%

% of EOY assets

0.184%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: WHITTLESEY P.C.
Auditor EIN: 060903326
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$109,382

$49,763+119.8%

$70,565+55.0%

$74,473+46.9%

Participation rate

82.8%

64.6%+18.2pp

68.4%+14.5pp

70.7%+12.1pp

Annual return

13.91%

21.21%-7.3pp

32.79%-18.9pp

34.36%-20.5pp

Employer contribution / active EE

$3,853

$1,776+117.0%

$2,976+29.5%

$2,638+46.0%

Participant deferral / active EE

$4,383

$3,379+29.7%

$4,568-4.1%

$4,530-3.3%

Admin fee / account holder

$201

$316-36.4%

$6,430-96.9%

$347-42.0%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH5 years

Filed as: MERRILL LYNCH RETIREMENT & BENEFIT

Service code 27 · EIN 13-5674085

Advisory (Plan)

$34,600

ASCENSUS LLC6 years

Service code 15 · EIN 11-3665754

Recordkeeping

$33,219

CROSS SOUND FERRY & COMPANIES 401(K) / PS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CROSS SOUND FERRY & COMPANIES 401(K) / PS 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