Retirement plan

AMERICAN MARITIME OFFICERS PENSION PLAN

Name: THE BOARD OF TRUSTEES AMERICAN MARITIME OFFICERS PENSION PLAN - AMERICAN MARITIME OFFICERS PENSION PLAN (2023) Form 5500
Creator: THE BOARD OF TRUSTEES AMERICAN MARITIME OFFICERS PENSION PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AMERICAN MARITIME OFFICERS PENSION PLAN, THE BOARD OF TRUSTEES AMERICAN MARITIME OFFICERS PENSION PLAN

THE BOARD OF TRUSTEES AMERICAN MARITIME OFFICERS PENSION PLANEIN 13-1936709Plan #001PY 2023

2 WEST DIXIE HIGHWAY - DANIA BEACH, FL 33004954-922-7428

Prospect flagsHigh retiree %High feesLow participation

How to read this page

Total assets (EOY)

$637.2M

-10.8% from 2017

Total participants

4,653

+1.7% from 2017

Average account balance

$152,296

-5.5% from 2017

Annual return

11.53%

-5.28 pp from 2017

Benchmarks

See 4 peers

Peer group

Industryany (size+type match)

Plan typeDB + DC

Participants250-999

Cohort4 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$730.90M

Not enough data

1 years with asset history on file

Average account balance

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

$163K

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.

4,494

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

$25.06M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$27K

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

+19.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$699

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

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Service providers

Top 10 of 15 by compensation

Provider	Service type	Compensation
AMO MASTER OPERATING TRUST7 years Service code 12 · EIN 20-0406498	Direct payment from the plan; Recordk...	$1,696,704
MEKETA INVESTMENT GROUP1 year Filed as: MEKETA INVESTMENT GROUP, INC Service code 17 · EIN 04-2659023	Pension Consulting	$207,351
NEWPORT GROUP, INC.1 year Service code 12 · EIN 27-2037969	Recordkeeping and information managem...	$173,312
WITHUMSMITH+BROWN, PC1 year Service code 10 · EIN 22-2027092	Accounting	$169,868
HORIZON ACTUARIAL SERVICES, LLC8+ years Service code 11 · EIN 26-1370698	Actuarial	$141,358
METROPOLITAN WEST ASSET MANAGEMENT7 years Filed as: TCW ASSET MANAGEMENT COMPANY LLC Service code 28 · EIN 95-3703295	Investment Management	$58,293
MERRILL LYNCH PIERCE FENNER & SMITH2 years Filed as: MERRILL LYNCH WEALTH MANAGEMENT Service code 26 · EIN 13-5674085	Advisory (Participants)	$44,000
MATRIX TRUST COMPANY4 years Service code 12 · EIN 75-3182674	Direct payment from the plan; Account...	$20,329
BMO HARRIS BANK NA2 years Filed as: BMO GLOBAL ASSET MANAGEMENT Service code 19 · EIN 36-2085229	Securities Custodian	$18,589
PITNEY BOWES1 year Service code 49 5310 CYPRESS CENTER DR · TAMPA, FL 33609	Other Services	$16,659

Enrolled actuary

1 attachment

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Plan features & details

Pension benefit codes1A1I2C2H

Plan features

1A
Benefits are primarily pay related
Benefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
1I
Frozen plan
As of the last day of the plan year the plan provides that no participant will get any new benefit accrual whether because of service or compensation.
2C
Money purchase plan
Money purchase pension plan other than a target benefit plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$3.0M

$3144 / participant

Investment mgmt$349K11.5%
Contract admin$150K4.9%
Other / not subdivided$3M83.6%

% of EOY assets

0.477%

all-in expense ratio

Categories reported

2 / 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, P.C.
Auditor EIN: 222027092
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$152,296

$121,589+25.3%

$152,2960%

$121,589+25.3%

Participation rate

51.5%

50.5%+1.0pp

51.5%0pp

50.5%+1.0pp

Annual return

11.53%

103.77%-92.2pp

5.65%+5.9pp

103.77%-92.2pp

Employer contribution / active EE

$27,597

$12,271+124.9%

$27,5970%

$12,271+124.9%

Participant deferral / active EE

Admin fee / account holder

$727

$676+7.4%

$7270%

$676+7.4%

Provider

Service type

Compensation

AMO MASTER OPERATING TRUST7 years

Service code 12 · EIN 20-0406498

Direct payment from the plan; Recordk...

$1,696,704

MEKETA INVESTMENT GROUP1 year

Filed as: MEKETA INVESTMENT GROUP, INC

Service code 17 · EIN 04-2659023

Pension Consulting

$207,351

NEWPORT GROUP, INC.1 year

Service code 12 · EIN 27-2037969

Recordkeeping and information managem...

$173,312

WITHUMSMITH+BROWN, PC1 year

Service code 10 · EIN 22-2027092

Accounting

$169,868

HORIZON ACTUARIAL SERVICES, LLC8+ years

Service code 11 · EIN 26-1370698

Actuarial

$141,358

METROPOLITAN WEST ASSET MANAGEMENT7 years

Filed as: TCW ASSET MANAGEMENT COMPANY LLC

Service code 28 · EIN 95-3703295

Investment Management

$58,293

MERRILL LYNCH PIERCE FENNER & SMITH2 years

Filed as: MERRILL LYNCH WEALTH MANAGEMENT

Service code 26 · EIN 13-5674085

Advisory (Participants)

$44,000

MATRIX TRUST COMPANY4 years

Service code 12 · EIN 75-3182674

Direct payment from the plan; Account...

$20,329

BMO HARRIS BANK NA2 years

Filed as: BMO GLOBAL ASSET MANAGEMENT

Service code 19 · EIN 36-2085229

Securities Custodian

$18,589

PITNEY BOWES1 year

Service code 49

5310 CYPRESS CENTER DR · TAMPA, FL 33609

Other Services

$16,659

AMERICAN MARITIME OFFICERS PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AMERICAN MARITIME OFFICERS PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

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