Retirement plan

ISLAND TRANSPORTATION CORP. UNION PLAN

Name: ISLAND TRANSPORTATION CORP. - ISLAND TRANSPORTATION CORP. UNION PLAN (2023) Form 5500
Creator: ISLAND TRANSPORTATION CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ISLAND TRANSPORTATION CORP. UNION PLAN, ISLAND TRANSPORTATION CORP.

ISLAND TRANSPORTATION CORP.EIN 11-1701549Plan #002PY 2023

299 EDISON AVE - WEST BABYLON, NY 11704631-694-4800islandtrans.comLinkedIn201-500 employeestransportation/trucking/railroad

Other plans on this EIN

1 filing

#001Retirement-$7.6M assets

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$4.1M

+56.9% from 2022

Total participants

282

+24.2% from 2022

Average account balance

$15,620

+29.2% from 2022

Annual return

18.63%

+35.03 pp from 2022

Benchmarks

See 1,233 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants100-249

Cohort1,233 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.84M

Not enough data

1 years with asset history on file

Average account balance

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

$19K

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.

305

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.

92.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.34M

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

+11.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$112

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 1 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY6+ years Filed as: JOHN HANCOCK NEW YORK Service code 15 · EIN 13-3646501	Recordkeeping	$475

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

1 tripped

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$23K

$99 / participant

Contract admin$23K100.0%

% of EOY assets

0.563%

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: CITRIN COOPERMAN & COMPANY, LLP
Auditor EIN: 222428965
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$15,620

$51,207-69.5%

$70,565-77.9%

$71,529-78.2%

Participation rate

91.0%

59.4%+31.6pp

68.4%+22.6pp

67.9%+23.1pp

Annual return

18.63%

42.71%-24.1pp

32.79%-14.2pp

28.97%-10.3pp

Employer contribution / active EE

$1,778

$1,795-0.9%

$2,976-40.2%

$2,590-31.3%

Participant deferral / active EE

$3,343

$3,033+10.2%

$4,568-26.8%

$4,291-22.1%

Admin fee / account holder

$88

$2,002-95.6%

$6,430-98.6%

$1,588-94.5%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY6+ years

Filed as: JOHN HANCOCK NEW YORK

Service code 15 · EIN 13-3646501

Recordkeeping

$475

ISLAND TRANSPORTATION CORP. UNION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ISLAND TRANSPORTATION CORP. UNION 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