Retirement plan

OCEAN BELL, INC. 401(K) PLAN

Name: OCEAN BELL, INC. - OCEAN BELL, INC. 401(K) PLAN (2022) Form 5500
Creator: OCEAN BELL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OCEAN BELL, INC. 401(K) PLAN, OCEAN BELL, INC.

OCEAN BELL, INC.EIN 22-2594150Plan #001PY 2022

212 ARCHERTOWN RD - NEW EGYPT, NJ 085331905609-784-4640LinkedIn11-50 employeesrestaurants

Prospect flagsHigh feesLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$682K

+13.7% from 2021

Total participants

-4.8% from 2021

Average account balance

$68,218

+13.7% from 2021

Annual return

0.23%

-25.75 pp from 2021

Benchmarks

See 11,555 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants<25

Cohort11,555 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$988K

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.

125.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$114K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+3.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2235

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 codes2E2F2G2J2T3D

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.

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.)
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

$31K

$1927 / participant

Other / not subdivided$31K100.0%

% of EOY assets

4.520%

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

$68,218

$84,464-19.2%

$61,399+11.1%

$134,509-49.3%

Participation rate

37.5%

62.2%-24.7pp

52.6%-15.1pp

81.2%-43.7pp

Annual return

0.23%

585.06%-584.8pp

338.81%-338.6pp

418.13%-417.9pp

Employer contribution / active EE

$475

$1,545-69.3%

$1,159-59.0%

$4,741-90.0%

Participant deferral / active EE

$6,268

$2,818+122.4%

$2,124+195.1%

$6,400-2.1%

Admin fee / account holder

$3,084

$2,587+19.2%

$2,131+44.7%

$11,427-73.0%

OCEAN BELL, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OCEAN BELL, INC. 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