Retirement plan

AMERICAN MARITIME OFFICERS 401K PLAN

Name: BOARD OF TRUSTEES AMERICAN MARITIME OFFICERS 401K PLAN - AMERICAN MARITIME OFFICERS 401K PLAN (2024) Form 5500
Creator: BOARD OF TRUSTEES AMERICAN MARITIME OFFICERS 401K PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AMERICAN MARITIME OFFICERS 401K PLAN, BOARD OF TRUSTEES AMERICAN MARITIME OFFICERS 401K PLAN

BOARD OF TRUSTEES AMERICAN MARITIME OFFICERS 401K PLANEIN 11-2978754Plan #002PY 2024

2 WEST DIXIE HIGHWAY - DANIA BEACH, FL 330044312954-920-4247

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$679.9M

-6.7% from 2016

Total participants

3,883

-7.0% from 2016

Average account balance

$175,087

-2.7% from 2016

Annual return

13.02%

-8.63 pp from 2016

Benchmarks

See 265 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants1,000-4,999

Cohort265 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$679.86M

Not enough data

1 years with asset history on file

Average account balance

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

$175K

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.

3,883

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$42.62M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+13.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$366

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 7 by compensation

Provider	Service type	Compensation
AMO MASTER OPERATING TRUST10+ years Service code 15 · EIN 20-0406498	Recordkeeping	$889,222
MATRIX TRUST COMPANY6 years Service code 12 · EIN 75-3182674	Trustee (directed); Claims processing...	$184,283
NEWPORT GROUP, INC.1 year Filed as: NEWPORT GROUP, INC Service code 12 · EIN 27-2037969	Direct payment from the plan; Partici...	$155,838
WITHUMSMITH+BROWN, PC3 years Service code 10 · EIN 22-2027092	Accounting	$88,006
MERRILL LYNCH PIERCE FENNER & SMITH1 year Filed as: MERRILL LYNCH, PIERCE, FENNER Service code 26 · EIN 13-5674085	Advisory (Participants)	$44,000
OKSANA KOCHERGINA4 years Service code 15 1935 83RD ST · BROOKLYN, NY 11214	Recordkeeping	$11,199
TECH PLUS SYSTEMS, INC.3 years Service code 15 · EIN 13-3599440	Recordkeeping	$5,671

Plan features & details

Pension benefit codes2E2J2K2R2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$1.4M

$386 / participant

Recordkeeping$35K2.5%
Trustee / custodial$183K12.8%
Investment mgmt$44K3.1%
Legal$460.0%
Salaries / allowances$806K56.7%
Other trustee fees$22K1.6%
Contract admin$156K11.0%
Other / not subdivided$176K12.4%

% of EOY assets

0.209%

all-in expense ratio

Categories reported

7 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WITHUMSMITH+BROWN, PC
Auditor EIN: 222027092
Audit fees: $48,296
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$175,087

$81,301+115.4%

$76,030+130.3%

$200,096-12.5%

Participation rate

100.0%

70.1%+29.9pp

69.1%+30.9pp

72.0%+28.0pp

Annual return

13.02%

16.31%-3.3pp

361.54%-348.5pp

34.26%-21.2pp

Employer contribution / active EE

$2,070

$3,352-38.2%

$2,688-23.0%

$3,038-31.9%

Participant deferral / active EE

$9,496

$4,721+101.1%

$4,257+123.1%

$5,090+86.6%

Admin fee / account holder

$366

$145+152.5%

$6,421-94.3%

$269+36.0%

Provider

Service type

Compensation

AMO MASTER OPERATING TRUST10+ years

Service code 15 · EIN 20-0406498

Recordkeeping

$889,222

MATRIX TRUST COMPANY6 years

Service code 12 · EIN 75-3182674

Trustee (directed); Claims processing...

$184,283

NEWPORT GROUP, INC.1 year

Filed as: NEWPORT GROUP, INC

Service code 12 · EIN 27-2037969

Direct payment from the plan; Partici...

$155,838

WITHUMSMITH+BROWN, PC3 years

Service code 10 · EIN 22-2027092

Accounting

$88,006

MERRILL LYNCH PIERCE FENNER & SMITH1 year

Filed as: MERRILL LYNCH, PIERCE, FENNER

Service code 26 · EIN 13-5674085

Advisory (Participants)

$44,000

OKSANA KOCHERGINA4 years

Service code 15

1935 83RD ST · BROOKLYN, NY 11214

Recordkeeping

$11,199

TECH PLUS SYSTEMS, INC.3 years

Service code 15 · EIN 13-3599440

Recordkeeping

$5,671

AMERICAN MARITIME OFFICERS 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AMERICAN MARITIME OFFICERS 401K 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