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 (2022) 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 2022

701 POYDRAS STREET SUITE 4500 - NEW ORLEANS, LA 70139504-528-9411offshoremarine.orgLinkedIn1-10 employeesmaritime

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$367K

-9.4% from 2021

Total participants

+50.0% from 2021

Average account balance

$61,113

-39.6% from 2021

Annual return

-17.73%

-28.73 pp from 2021

Benchmarks

See 39,277 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort39,277 peers

Snapshot2022

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 codes2E2J2F2G2T3D

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

2 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.)

Expense breakdown

Schedule H Part II

Admin total

$11K

$2680 / participant

Other / not subdivided$11K100.0%

% of EOY assets

2.924%

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

$61,113

$92,766-34.1%

$82,763-26.2%

$134,545-54.6%

Participation rate

100.0%

75.2%+24.8pp

72.6%+27.4pp

81.2%+18.8pp

Annual return

-17.73%

946.97%-964.7pp

702.45%-720.2pp

418.37%-436.1pp

Employer contribution / active EE

$9,688

$3,273+196.0%

$3,008+222.0%

$4,742+104.3%

Participant deferral / active EE

$364

$4,802-92.4%

$4,395-91.7%

$6,401-94.3%

Admin fee / account holder

$1,787

$5,978-70.1%

$5,325-66.4%

$11,431-84.4%

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