Retirement plan

TRIDENT MARITIME SYSTEMS RETIREMENT SAVINGS PLAN

Name: TRIDENT MARITIME SYSTEMS, LLC - TRIDENT MARITIME SYSTEMS RETIREMENT SAVINGS PLAN (2024) Form 5500
Creator: TRIDENT MARITIME SYSTEMS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TRIDENT MARITIME SYSTEMS RETIREMENT SAVINGS PLAN, TRIDENT MARITIME SYSTEMS, LLC

TRIDENT MARITIME SYSTEMS, LLCEIN 37-1714323Plan #001PY 2024

2011 CRYSTAL DRIVE, SUITE 1102 - ARLINGTON, VA 22202703-236-1589tridentllc.comLinkedIn1001-5000 employeesshipbuilding

Prospect flagsLow employer contributionFailed to transmit contributionsFailed to provide benefit

How to read this page

Total assets (EOY)

$86.2M

+62.1% from 2023

Total participants

1,646

+37.2% from 2023

Average account balance

$55,002

+20.4% from 2023

Annual return

71.95%

+53.73 pp from 2023

Benchmarks

See 840 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort840 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$86.24M

Not enough data

1 years with asset history on file

Average account balance

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

$55K

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.

1,568

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.

94.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$6.90M

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

+71.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$70

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 5 by compensation

Provider	Service type	Compensation
OSAIC WEALTH INC1 year Filed as: OSAIC WEALTH INC. Service code 27 · EIN 93-0987232 PO BOX 843094 · LOS ANGELES, CA 90084	Advisory (Plan)	$44,453
FIDELITY INVESTMENTS INSTITUTIONAL6 years Service code 37 · EIN 04-2647786	Loan Processing	$25,946
BDO USA, LLP3 years Filed as: BDO Service code 10 · EIN 13-5381590	Accounting	$16,000
STRATEGIC ADVISORS, INC.5 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$15,530
NFP RETIREMENT INC1 year Filed as: NFP RETIREMENT INC. Service code 27 · EIN 33-0905143	Advisory (Plan)	$7,146

Plan features & details

Pension benefit codes3H2E2F2G2J2K2S2T3D

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.
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.

Expense breakdown

Schedule H Part II

Admin total

$109K

$84 / participant

Recordkeeping$25K22.7%
Investment mgmt$67K61.5%
Contract admin$1K1.1%
Other / not subdivided$16K14.7%

% of EOY assets

0.126%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BDO USA, P.C.
Auditor EIN: 135381590
Audit fees: $16,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$55,002

$110,282-50.1%

$102,434-46.3%

$199,960-72.5%

Participation rate

94.0%

86.3%+7.7pp

76.5%+17.5pp

72.0%+22.0pp

Annual return

71.95%

35.75%+36.2pp

29.46%+42.5pp

34.28%+37.7pp

Employer contribution / active EE

$1,013

$3,603-71.9%

$3,023-66.5%

$3,036-66.6%

Participant deferral / active EE

$4,295

$6,376-32.6%

$5,055-15.0%

$5,087-15.6%

Admin fee / account holder

$70

$122-43.1%

$9,462-99.3%

$269-74.2%

Provider

Service type

Compensation

OSAIC WEALTH INC1 year

Filed as: OSAIC WEALTH INC.

Service code 27 · EIN 93-0987232

PO BOX 843094 · LOS ANGELES, CA 90084

Advisory (Plan)

$44,453

FIDELITY INVESTMENTS INSTITUTIONAL6 years

Service code 37 · EIN 04-2647786

Loan Processing

$25,946

BDO USA, LLP3 years

Filed as: BDO

Service code 10 · EIN 13-5381590

Accounting

$16,000

STRATEGIC ADVISORS, INC.5 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$15,530

NFP RETIREMENT INC1 year

Filed as: NFP RETIREMENT INC.

Service code 27 · EIN 33-0905143

Advisory (Plan)

$7,146

TRIDENT MARITIME SYSTEMS RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TRIDENT MARITIME SYSTEMS RETIREMENT SAVINGS 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