Retirement plan

PETROLEUM MANAGEMENT, INC. 401(K) PLAN

Name: PETROLEUM MANAGEMENT, INC. - PETROLEUM MANAGEMENT, INC. 401(K) PLAN (2023) Form 5500
Creator: PETROLEUM MANAGEMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PETROLEUM MANAGEMENT, INC. 401(K) PLAN, PETROLEUM MANAGEMENT, INC.

PETROLEUM MANAGEMENT, INC.EIN 52-2014536Plan #001PY 2023

1030 E PATAPSCO AVENUE - BALTIMORE, MD 21225410-354-0200petromgt.netLinkedIn11-50 employeesenvironmental services

Prospect flagsHigh feesLow participationLow assets / participantLow employer contribution

How to read this page

Total assets (EOY)

$1M

+36.4% from 2022

Total participants

-2.6% from 2022

Average account balance

$19,677

+31.1% from 2022

Annual return

18.16%

+35.17 pp from 2022

Benchmarks

See 18,032 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,032 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.24M

Not enough data

1 years with asset history on file

Average account balance

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

$26K

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.

68.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$153K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+12.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1114

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 codes2E2J2F2G3D2T

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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer 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.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$22K

$372 / participant

Other / not subdivided$22K100.0%

% of EOY assets

2.152%

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

$19,677

$73,988-73.4%

$96,538-79.6%

$75,177-73.8%

Participation rate

60.3%

66.4%-6.1pp

74.3%-14.0pp

67.2%-6.9pp

Annual return

18.16%

26.73%-8.6pp

35.74%-17.6pp

160.75%-142.6pp

Employer contribution / active EE

$2,930-100.0%

$3,740-100.0%

$2,671-100.0%

Participant deferral / active EE

$2,589

$3,660-29.3%

$4,880-47.0%

$4,126-37.3%

Admin fee / account holder

$424

$5,220-91.9%

$6,737-93.7%

$5,651-92.5%

PETROLEUM MANAGEMENT, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PETROLEUM MANAGEMENT, INC. 401(K) 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