Retirement plan

OCEAN HOUSE MANAGEMENT, LLC 401(K) PLAN

Name: OCEAN HOUSE MANAGEMENT, LLC - OCEAN HOUSE MANAGEMENT, LLC 401(K) PLAN (2021) Form 5500
Creator: OCEAN HOUSE MANAGEMENT, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OCEAN HOUSE MANAGEMENT, LLC 401(K) PLAN, OCEAN HOUSE MANAGEMENT, LLC

OCEAN HOUSE MANAGEMENT, LLCEIN 27-1920653Plan #001PY 2021

ONE BLUFF AVENUE - WATCH HILL, RI 02891401-584-7000

Prospect flagsHigh fees

Top hat statement on fileNQDC

Filed April 12, 2023 (most recent of 2 filings on file)

Plan administrator

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One Bluff Avenue

Watch Hill, RI 02891

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Plans declared (1)

Ocean House Management, LLC Executive Deferred Compensation Plan1 emp

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Total assets (EOY)

$4.9M

+27.7% from 2020

Total participants

173

+0.6% from 2020

Average account balance

$32,434

+21.0% from 2020

Annual return

13.98%

-6.98 pp from 2020

Benchmarks

See 3,928 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants25-99

Cohort3,928 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.04M

Not enough data

1 years with asset history on file

Average account balance

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

$33K

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.

184

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.

36.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$833K

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

+14.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

$244

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

1 years with F_SCH_H allocation on file

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Service providers

Top 1 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY7+ years Service code 15 · EIN 01-0233346	Recordkeeping	$6,697

Plan features & details

Pension benefit codes2F2G2J2K3D

Plan features

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

1 tripped

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

$58K

$621 / participant

Investment mgmt$18K31.1%
Contract admin$39K68.0%
Other / not subdivided$5250.9%

% of EOY assets

1.171%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PKF, P.C.
Auditor EIN: 043138777
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$32,434

$39,028-16.9%

$80,741-59.8%

$85,847-62.2%

Participation rate

77.4%

41.6%+35.9pp

54.2%+23.3pp

69.3%+8.1pp

Annual return

13.98%

26.31%-12.3pp

87.30%-73.3pp

318.61%-304.6pp

Employer contribution / active EE

$3,358

$722+365.0%

$1,160+189.5%

$2,565+30.9%

Participant deferral / active EE

$4,311

$1,326+225.2%

$2,145+101.0%

$3,952+9.1%

Admin fee / account holder

$380

$2,429-84.4%

$3,380-88.8%

$6,261-93.9%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY7+ years

Service code 15 · EIN 01-0233346

Recordkeeping

$6,697

OCEAN HOUSE MANAGEMENT, LLC 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OCEAN HOUSE MANAGEMENT, LLC 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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