Retirement plan

OCEAN MARINE SHIPPING 401(K) PLAN

Name: OCEAN MARINE SHIPPING - OCEAN MARINE SHIPPING 401(K) PLAN (2022) Form 5500
Creator: OCEAN MARINE SHIPPING
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OCEAN MARINE SHIPPING 401(K) PLAN, OCEAN MARINE SHIPPING

OCEAN MARINE SHIPPINGEIN 58-2286382Plan #001PY 2022

407 EAST MAPLE ST #301 - CUMMING, GA 30040770-888-5941

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$108K

-4.3% from 2021

Total participants

+7.1% from 2021

Average account balance

$15,433

-4.3% from 2021

Annual return

-20.01%

-31.88 pp from 2021

Benchmarks

See 8,690 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants<25

Cohort8,690 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$204K

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

45.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$23K

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

+12.89%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5839

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 codes2E2F2G2J3D2T

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

1 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$27

$2 / participant

Other / not subdivided$27100.0%

% of EOY assets

0.025%

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

$15,433

$82,288-81.2%

$68,794-77.6%

$134,509-88.5%

Participation rate

42.9%

75.1%-32.2pp

69.0%-26.2pp

81.2%-38.4pp

Annual return

-20.01%

-2.19%-17.8pp

-6.37%-13.6pp

418.13%-438.1pp

Employer contribution / active EE

$3,301-100.0%

$2,656-100.0%

$4,741-100.0%

Participant deferral / active EE

$1,268

$4,738-73.2%

$3,941-67.8%

$6,400-80.2%

Admin fee / account holder

$6,482-99.9%

$4,934-99.9%

$11,427-100.0%

OCEAN MARINE SHIPPING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OCEAN MARINE SHIPPING 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