Retirement plan

FINCANTIERI MARINE SYSTEMS NORTH AMERICA, INC. 401(K) SAFE HARBOR PLAN

Name: FINCANTIERI MARINE SYSTEMS NORTH AMERICA, INC. - FINCANTIERI MARINE SYSTEMS NORTH AMERICA, INC. 401(K) SAFE HARBOR PLAN (2024) Form 5500
Creator: FINCANTIERI MARINE SYSTEMS NORTH AMERICA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FINCANTIERI MARINE SYSTEMS NORTH AMERICA, INC. 401(K) SAFE HARBOR PLAN, FINCANTIERI MARINE SYSTEMS NORTH AMERICA, INC.

FINCANTIERI MARINE SYSTEMS NORTH AMERICA, INC.EIN 06-1062881Plan #001PY 2024

800 PRINCIPAL COURT, SUITE C - CHESAPEAKE, VA 23320757-548-6000fincantierimarinesystems.comLinkedIn51-200 employeesmechanical or industrial engineering

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$8.2M

+28.1% from 2023

Total participants

215

+10.8% from 2023

Average account balance

$39,077

+12.1% from 2023

Annual return

17.94%

-4.39 pp from 2023

Benchmarks

See 2,058 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort2,058 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.17M

Not enough data

1 years with asset history on file

Average account balance

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

$39K

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.

209

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.

95.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.24M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+17.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$206

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 3 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$45,352
CHERRY BEKAERT LLP2 years Filed as: CHERRY BEKAERT & HOLLAND, LLP Service code 13 222 CENTRAL PARK AVE · VIRGINIA BEACH, VA 23462	Contract Administrator	$0
LPL FINANCIAL2 years Filed as: LPL FINANCIAL LLC Service code 55 PO BOX 509026 · SAN DIEGO, CA 92150	Other Commissions	$0

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

0 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$43K

$310 / participant

Recordkeeping$43K100.0%

% of EOY assets

0.527%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BELFINT, LYONS & SHUMAN, P.A.
Auditor EIN: 510232399
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$39,077

$60,393-35.3%

$81,820-52.2%

$74,429-47.5%

Participation rate

95.7%

62.9%+32.8pp

72.4%+23.3pp

67.2%+28.5pp

Annual return

17.94%

16.89%+1.1pp

777.93%-760.0pp

1368.38%-1350.4pp

Employer contribution / active EE

$3,214

$2,626+22.4%

$2,915+10.3%

$2,625+22.4%

Participant deferral / active EE

$5,678

$3,397+67.2%

$4,323+31.4%

$4,348+30.6%

Admin fee / account holder

$206

$1,491-86.2%

$7,391-97.2%

$1,944-89.4%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$45,352

CHERRY BEKAERT LLP2 years

Filed as: CHERRY BEKAERT & HOLLAND, LLP

Service code 13

222 CENTRAL PARK AVE · VIRGINIA BEACH, VA 23462

Contract Administrator

LPL FINANCIAL2 years

Filed as: LPL FINANCIAL LLC

Service code 55

PO BOX 509026 · SAN DIEGO, CA 92150

Other Commissions

FINCANTIERI MARINE SYSTEMS NORTH AMERICA, INC. 401(K) SAFE HARBOR PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FINCANTIERI MARINE SYSTEMS NORTH AMERICA, INC. 401(K) SAFE HARBOR 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