Retirement plan

AMERICAN MARITIME OFFICERS 401K PLAN

Name: BOARD OF TRUSTEES AMERICAN MARITIME OFFICERS 401K PLAN - AMERICAN MARITIME OFFICERS 401K PLAN (2023) 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 2023

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

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$617.6M

+19.5% from 2022

Total participants

3,863

+1.3% from 2022

Average account balance

$160,662

+18.6% from 2022

Annual return

19.47%

+35.25 pp from 2022

Benchmarks

See 268 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants1,000-4,999

Cohort268 peers

Snapshot2023

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 TRUST9+ years Service code 12 · EIN 20-0406498	Direct payment from the plan; Recordk...	$780,282
NEWPORT GROUP, INC.2 years Filed as: NEWPORT RETIREMENT SERVICES Service code 12 · EIN 27-2037969	Claims processing; Recordkeeping fees...	$204,951
MATRIX TRUST COMPANY5 years Service code 12 · EIN 75-3182674	Claims processing; Direct payment fro...	$131,330
WITHUMSMITH+BROWN, PC2 years Service code 10 · EIN 22-2027092	Accounting	$53,264
MERRILL LYNCH PIERCE FENNER & SMITH2 years Filed as: MERRILL LYNCH WEALTH MANAGEMENT Service code 16 · EIN 13-5674085	Consulting	$44,000
OKSANA KOCHERGINA3 years Service code 15 1935 83RD ST · BROOKLYN, NY 11214	Recordkeeping	$10,307
TECH PLUS SYSTEMS, INC.2 years Service code 16 · EIN 13-3599440	Consulting	$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

$1.3M

$355 / participant

Recordkeeping$188K14.6%
Trustee / custodial$129K10.1%
Investment mgmt$44K3.4%
Legal$660.0%
Salaries / allowances$702K54.7%
Other trustee fees$17K1.3%
Other / not subdivided$205K15.9%

% of EOY assets

0.208%

all-in expense ratio

Categories reported

6 / 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: $34,880
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$160,662

$70,115+129.1%

$70,544+127.7%

$80,157+100.4%

Participation rate

99.5%

71.7%+27.8pp

68.4%+31.1pp

72.9%+26.5pp

Annual return

19.47%

134.51%-115.0pp

32.79%-13.3pp

40.39%-20.9pp

Employer contribution / active EE

$1,837

$3,021-39.2%

$2,976-38.3%

$2,977-38.3%

Participant deferral / active EE

$9,181

$4,495+104.2%

$4,568+101.0%

$5,015+83.1%

Admin fee / account holder

$334

$112+197.8%

$6,427-94.8%

$145+130.6%

Provider

Service type

Compensation

AMO MASTER OPERATING TRUST9+ years

Service code 12 · EIN 20-0406498

Direct payment from the plan; Recordk...

$780,282

NEWPORT GROUP, INC.2 years

Filed as: NEWPORT RETIREMENT SERVICES

Service code 12 · EIN 27-2037969

Claims processing; Recordkeeping fees...

$204,951

MATRIX TRUST COMPANY5 years

Service code 12 · EIN 75-3182674

Claims processing; Direct payment fro...

$131,330

WITHUMSMITH+BROWN, PC2 years

Service code 10 · EIN 22-2027092

Accounting

$53,264

MERRILL LYNCH PIERCE FENNER & SMITH2 years

Filed as: MERRILL LYNCH WEALTH MANAGEMENT

Service code 16 · EIN 13-5674085

Consulting

$44,000

OKSANA KOCHERGINA3 years

Service code 15

1935 83RD ST · BROOKLYN, NY 11214

Recordkeeping

$10,307

TECH PLUS SYSTEMS, INC.2 years

Service code 16 · EIN 13-3599440

Consulting

$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