Retirement plan

OCEAN POWER 401(K) PROFIT SHARING PLAN

Name: OCEAN POWER & EQUIPMENT CO. - OCEAN POWER 401(K) PROFIT SHARING PLAN (2015) Form 5500
Creator: OCEAN POWER & EQUIPMENT CO.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OCEAN POWER 401(K) PROFIT SHARING PLAN, OCEAN POWER & EQUIPMENT CO.

OCEAN POWER & EQUIPMENT CO.EIN 22-3033577Plan #002PY 2015

1140 BLOOMFIELD AVE, STE 107 - WEST CALDWELL, NJ 070067126973-575-5775ocean-power.usLinkedIn1-10 employeesmaritime

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$833K

No prior year

Total participants

No prior year

Average account balance

$166,524

No prior year

Annual return

-4.55%

No prior year

Benchmarks

See 5,259 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants<25

Cohort5,259 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.71M

Not enough data

1 years with asset history on file

Average account balance

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

$426K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$21K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+10.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$16822

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 codes2E3D2G2J2T

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return 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).

Expense breakdown

Schedule H Part II

Admin total

$7K

$1420 / participant

Other / not subdivided$7K100.0%

% of EOY assets

0.853%

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

$166,524

$75,935+119.3%

$60,547+175.0%

$125,389+32.8%

Participation rate

100.0%

76.5%+23.5pp

68.0%+32.0pp

83.2%+16.8pp

Annual return

-4.55%

-5.38%+0.8pp

335.64%-340.2pp

282.24%-286.8pp

Employer contribution / active EE

$4,625

$3,438+34.5%

$2,419+91.2%

$4,866-5.0%

Participant deferral / active EE

$19,000

$4,506+321.6%

$3,328+471.0%

$5,352+255.0%

Admin fee / account holder

$1,420

$6,768-79.0%

$4,536-68.7%

$9,541-85.1%

OCEAN POWER 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OCEAN POWER 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