Retirement plan

AG SHIP MAINTENANCE CORP. 401(K) PROFIT SHARING PLAN - UNION

Name: AG SHIP MAINTENANCE CORP - AG SHIP MAINTENANCE CORP. 401(K) PROFIT SHARING PLAN - UNION (2021) Form 5500
Creator: AG SHIP MAINTENANCE CORP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AG SHIP MAINTENANCE CORP. 401(K) PROFIT SHARING PLAN - UNION, AG SHIP MAINTENANCE CORP

AG SHIP MAINTENANCE CORPEIN 11-2110636Plan #003PY 2021

99 CHAPEL STREET - NEWARK, NJ 07105973-589-4400LinkedIn51-200 employeesconstruction

Other plans on this EIN

1 filing

#001Retirement-$6.7M assets

Prospect flagsLow returnsLow participation

How to read this page

Total assets (EOY)

$7.1M

+23.5% from 2020

Total participants

128

+8.5% from 2020

Average account balance

$117,146

+9.3% from 2020

Annual return

11.72%

+1.12 pp from 2020

Benchmarks

See 2,980 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,980 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.99M

Not enough data

1 years with asset history on file

Average account balance

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

$134K

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.

49.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.07M

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

+11.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1864

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY6 years Filed as: PRINCIPAL LIFE INSURANCE CO Service code 13 · EIN 42-0127290 P.O. BOX 9394 · DESMOINES, IA 503069394	Contract Administrator	$16,001
ROYAL ALLIANCE ASSOCIATES INC3 years Filed as: ROYAL ALLIANCE ASSOCIATES INC. Service code 49	Other Services	$11,175
ROYAL ALLIANCE ASSOCIATES INC3 years Service code 49 · EIN 93-0987232 10 EXCHANGE PLACE · JERSEY CITY, NJ 021165010	Other Services	$0
WILSHIRE ASSOCIATES INCORPORATED4 years Filed as: WILSHIRE ASSOCIATES INC Service code 27 · EIN 95-2755361	Advisory (Plan)	$0
WILSHIRE ASSOCIATES INCORPORATED4 years Service code 27	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2J2F2G3D3H2T

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$16K

$135 / participant

Contract admin$16K100.0%

% of EOY assets

0.224%

all-in expense ratio

Categories reported

1 / 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: POLLAN MAUNER & WESS
Auditor EIN: 112992489
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$117,146

$77,677+50.8%

$109,188+7.3%

$79,389+47.6%

Participation rate

43.7%

67.8%-24.1pp

75.9%-32.2pp

70.7%-27.0pp

Annual return

11.72%

23.44%-11.7pp

25.76%-14.0pp

116.89%-105.2pp

Employer contribution / active EE

$2,798-100.0%

$3,723-100.0%

$2,428-100.0%

Participant deferral / active EE

$5,953

$3,517+69.3%

$4,654+27.9%

$4,046+47.1%

Admin fee / account holder

$263

$732-64.1%

$6,755-96.1%

$626-58.0%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY6 years

Filed as: PRINCIPAL LIFE INSURANCE CO

Service code 13 · EIN 42-0127290

P.O. BOX 9394 · DESMOINES, IA 503069394

Contract Administrator

$16,001

ROYAL ALLIANCE ASSOCIATES INC3 years

Filed as: ROYAL ALLIANCE ASSOCIATES INC.

Service code 49

Other Services

$11,175

ROYAL ALLIANCE ASSOCIATES INC3 years

Service code 49 · EIN 93-0987232

10 EXCHANGE PLACE · JERSEY CITY, NJ 021165010

Other Services

WILSHIRE ASSOCIATES INCORPORATED4 years

Filed as: WILSHIRE ASSOCIATES INC

Service code 27 · EIN 95-2755361

Advisory (Plan)

WILSHIRE ASSOCIATES INCORPORATED4 years

Service code 27

Advisory (Plan)

AG SHIP MAINTENANCE CORP. 401(K) PROFIT SHARING PLAN - UNION

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AG SHIP MAINTENANCE CORP. 401(K) PROFIT SHARING PLAN - UNION

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