Retirement plan

AMERICAN SHIPPING CO., INC. 401(K) PROFIT SHARING PLAN

Name: AMERICAN SHIPPING CO., INC. - AMERICAN SHIPPING CO., INC. 401(K) PROFIT SHARING PLAN (2017) Form 5500
Creator: AMERICAN SHIPPING CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AMERICAN SHIPPING CO., INC. 401(K) PROFIT SHARING PLAN, AMERICAN SHIPPING CO., INC.

AMERICAN SHIPPING CO., INC.EIN 13-5555575Plan #001PY 2017

250 MOONACHIE RD 5TH FL - MOONACHIE, NJ 07074201-478-4626shipamerican.comLinkedIn51-200 employeeslogistics and supply chain

Prospect flagsLow employer contributionLow fidelity bondCorrective distributions

How to read this page

Total assets (EOY)

$2.6M

+18.6% from 2016

Total participants

124

-4.6% from 2016

Average account balance

$23,095

+17.6% from 2016

Annual return

16.86%

+3.57 pp from 2016

Benchmarks

See 3,497 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants25-99

Cohort3,497 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.81M

Not enough data

1 years with asset history on file

Average account balance

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

$40K

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.

122.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$230K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+10.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

$11674

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 2 by compensation

Provider	Service type	Compensation
ADP BROKER-DEALER1 year Filed as: ADP, LLC Service code 15 · EIN 13-3036745	Recordkeeping	$8,041
ADP BROKER-DEALER2+ years Service code 49 · EIN 22-3319984	Other Services	$0

Plan features & details

Pension benefit codes2E2F2G2J2T3D3H

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

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$8K

$112 / participant

Other / not subdivided$8K100.0%

% of EOY assets

0.314%

all-in expense ratio

Categories reported

0 / 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: SRF ACCOUNTING GROUP, LLC
Auditor EIN: 223394133
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$23,095

$52,580-56.1%

$71,671-67.8%

$70,126-67.1%

Participation rate

81.9%

60.9%+21.1pp

68.7%+13.2pp

69.5%+12.4pp

Annual return

16.86%

20.25%-3.4pp

20.65%-3.8pp

73.15%-56.3pp

Employer contribution / active EE

$221

$1,616-86.3%

$2,460-91.0%

$2,343-90.5%

Participant deferral / active EE

$1,743

$2,386-27.0%

$3,438-49.3%

$3,332-47.7%

Admin fee / account holder

$72

$3,653-98.0%

$5,558-98.7%

$4,645-98.4%

Provider

Service type

Compensation

ADP BROKER-DEALER1 year

Filed as: ADP, LLC

Service code 15 · EIN 13-3036745

Recordkeeping

$8,041

ADP BROKER-DEALER2+ years

Service code 49 · EIN 22-3319984

Other Services

AMERICAN SHIPPING CO., INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AMERICAN SHIPPING CO., INC. 401(K) PROFIT SHARING 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