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 (2024) 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 2024

250 MOONACHIE ROAD, SUITE 500 - MOONACHIE, NJ 07074201-478-4626shipamerican.comLinkedIn51-200 employeeslogistics and supply chain

Prospect flagsHigh feesLow employer contributionLow fidelity bond

How to read this page

Total assets (EOY)

$3.1M

+20.6% from 2023

Total participants

-11.4% from 2023

Average account balance

$43,841

+25.7% from 2023

Annual return

23.38%

+10.45 pp from 2023

Benchmarks

See 4,591 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants25-99

Cohort4,591 peers

Snapshot2024

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

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 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.
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).

Expense breakdown

Schedule H Part II

Admin total

$214K

$4106 / participant

Other / not subdivided$214K100.0%

% of EOY assets

6.958%

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

$43,841

$55,930-21.6%

$76,089-42.4%

$80,925-45.8%

Participation rate

84.6%

62.1%+22.6pp

69.1%+15.5pp

67.7%+17.0pp

Annual return

23.38%

20.58%+2.8pp

360.94%-337.6pp

35.65%-12.3pp

Employer contribution / active EE

-$670

$1,866-135.9%

$2,690-124.9%

$2,756-124.3%

Participant deferral / active EE

$3,134

$3,051+2.7%

$4,259-26.4%

$4,299-27.1%

Admin fee / account holder

$3,050

$5,241-41.8%

$6,418-52.5%

$6,940-56.0%

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