Retirement plan

OFFSHORE MARINE SERVICE ASSOCIATION 401(K) PROFIT SHARING PLAN & TRUST

Name: OFFSHORE MARINE SERVICE ASSOCIATION, INC. - OFFSHORE MARINE SERVICE ASSOCIATION 401(K) PROFIT SHARING PLAN & TRUST (2020) Form 5500
Creator: OFFSHORE MARINE SERVICE ASSOCIATION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OFFSHORE MARINE SERVICE ASSOCIATION 401(K) PROFIT SHARING PLAN & TRUST, OFFSHORE MARINE SERVICE ASSOCIATION, INC.

OFFSHORE MARINE SERVICE ASSOCIATION, INC.EIN 23-7378249Plan #001PY 2020

935 GRAVIER STREET SUITE 2040 - NEW ORLEANS, LA 70112504-528-9411offshoremarine.orgLinkedIn1-10 employeesmaritime

Prospect flagsHigh feesLow participant contributionLow fidelity bond

How to read this page

Total assets (EOY)

$484K

+13.8% from 2019

Total participants

-16.7% from 2019

Average account balance

$96,895

+36.6% from 2019

Annual return

9.23%

-10.06 pp from 2019

Benchmarks

See 36,192 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort36,192 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$586K

Not enough data

1 years with asset history on file

Average account balance

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

$84K

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.

233.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$43K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+13.40%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1188

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 codes2E2J2F2G3D2R2T

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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 participant contribution
Participant 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

$18K

$6057 / participant

Other / not subdivided$18K100.0%

% of EOY assets

3.750%

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

$96,895

$100,938-4.0%

$90,461+7.1%

$158,982-39.1%

Participation rate

100.0%

75.0%+25.0pp

72.7%+27.3pp

82.0%+18.0pp

Annual return

9.23%

1727.20%-1718.0pp

1294.76%-1285.5pp

302.99%-293.8pp

Employer contribution / active EE

$11,250

$3,691+204.8%

$3,264+244.7%

$4,763+136.2%

Participant deferral / active EE

$4,350-100.0%

$3,964-100.0%

$5,983-100.0%

Admin fee / account holder

$3,634

$6,510-44.2%

$5,617-35.3%

$11,252-67.7%

OFFSHORE MARINE SERVICE ASSOCIATION 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OFFSHORE MARINE SERVICE ASSOCIATION 401(K) PROFIT SHARING PLAN & TRUST

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