Retirement plan

INDEPENDENCE MARITIME AGENCY, INC. PROFIT SHARING 401(K) PLAN

Name: INDEPENDENCE MARITIME AGENCY, INC. - INDEPENDENCE MARITIME AGENCY, INC. PROFIT SHARING 401(K) PLAN (2021) Form 5500
Creator: INDEPENDENCE MARITIME AGENCY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INDEPENDENCE MARITIME AGENCY, INC. PROFIT SHARING 401(K) PLAN, INDEPENDENCE MARITIME AGENCY, INC.

INDEPENDENCE MARITIME AGENCY, INC.EIN 13-2809764Plan #002PY 2021

45 BROADWAY, SUITE 1840 - NEW YORK, NY 10006212-425-8608indemaritime.comLinkedIn1-10 employeesmaritime

Prospect flagsHigh feesLow fidelity bondWind-down / frozen

How to read this page

Total assets (EOY)

$1.6M

+30.4% from 2020

Total participants

-11.1% from 2020

Average account balance

$195,189

+46.8% from 2020

Annual return

35.46%

+21.01 pp from 2020

Benchmarks

See 7,537 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants<25

Cohort7,537 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$840K

Not enough data

1 years with asset history on file

Average account balance

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

$120K

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.

700.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+9.13%

Not enough data

1 years with return on file

Admin fee / account holder

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

$15097

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

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2G2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalWind-down / frozen
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.

Expense breakdown

Schedule H Part II

Admin total

$70K

$17550 / participant

Other / not subdivided$70K100.0%

% of EOY assets

4.496%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$195,189

$104,694+86.4%

$85,709+127.7%

$167,536+16.5%

Participation rate

100.0%

76.4%+23.6pp

69.9%+30.1pp

82.1%+17.9pp

Annual return

35.46%

21.45%+14.0pp

21.49%+14.0pp

478.82%-443.4pp

Employer contribution / active EE

$3,337-100.0%

$2,619-100.0%

$4,839-100.0%

Participant deferral / active EE

$4,826-100.0%

$3,924-100.0%

$6,342-100.0%

Admin fee / account holder

$8,775

$10,035-12.6%

$6,876+27.6%

$12,315-28.7%

INDEPENDENCE MARITIME AGENCY, INC. PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INDEPENDENCE MARITIME AGENCY, INC. PROFIT SHARING 401(K) 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