Retirement plan

DONOVAN MARINE, INC. RETIREMENT AND PROFIT SHARING PLAN

Name: DONOVAN MARINE, INC. - DONOVAN MARINE, INC. RETIREMENT AND PROFIT SHARING PLAN (2021) Form 5500
Creator: DONOVAN MARINE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DONOVAN MARINE, INC. RETIREMENT AND PROFIT SHARING PLAN, DONOVAN MARINE, INC.

DONOVAN MARINE, INC.EIN 72-0642880Plan #001PY 2021

6316 HUMPHREYS STREET - HARAHAN, LA 70123504-729-2520donovanmarine.comLinkedIn201-500 employeeswholesale

Prospect flagsLow returnsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$36.8M

+13.6% from 2020

Total participants

521

+9.2% from 2020

Average account balance

$81,603

+5.5% from 2020

Annual return

12.51%

-1.48 pp from 2020

Benchmarks

See 1,276 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants250-999

Cohort1,276 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$39.06M

Not enough data

1 years with asset history on file

Average account balance

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

$98K

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.

398

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.

87.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.76M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+12.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$427

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

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

Service providers

Top 6 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: ADVISED ASSETS GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$66,440
BKS RETIREMENT SERVICES1 year Filed as: BKS FINANCIAL INVESTMENTS LLC DBA B Service code 27 25400 US 19 N STE 204 · CLEARWATER, FL 33763	Advisory (Plan)	$35,807
GREAT-WEST LIFE & ANNUITY INSURANCE7+ years Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$34,812
MID ATLANTIC CAPITAL CORPORATION7+ years Filed as: MID-CONTINENT SECURITIES ADVISORS L Service code 55 1218 WEBSTER ST · HOUSTON, TX 77002	Other Commissions	$27,887
ERICKSEN, KRENTEL & LAPORTE, LLP7+ years Service code 10 4227 CANAL STREET · NEW ORLEANS, LA 70119	Accounting	$11,800
TD AMERITRADE, INC.6 years Service code 33 200 S. 108TH AVENUE · OMAHA, NE 68154	Securities brokerage	$25

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3D3H

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return 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).

Expense breakdown

Schedule H Part II

Admin total

$149K

$362 / participant

Contract admin$149K100.0%

% of EOY assets

0.405%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ERICKSEN KRENTEL, LLP
Auditor EIN: 720549733
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$81,603

$86,225-5.4%

$146,647-44.4%

$86,821-6.0%

Participation rate

83.0%

78.0%+5.0pp

80.1%+2.9pp

72.3%+10.7pp

Annual return

12.51%

31.23%-18.7pp

22.75%-10.2pp

97.94%-85.4pp

Employer contribution / active EE

$2,017

$2,392-15.7%

$4,137-51.2%

$2,406-16.2%

Participant deferral / active EE

$4,807

$4,245+13.2%

$5,506-12.7%

$4,132+16.3%

Admin fee / account holder

$330

$195+69.0%

$10,281-96.8%

$170+94.7%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: ADVISED ASSETS GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$66,440

BKS RETIREMENT SERVICES1 year

Filed as: BKS FINANCIAL INVESTMENTS LLC DBA B

Service code 27

25400 US 19 N STE 204 · CLEARWATER, FL 33763

Advisory (Plan)

$35,807

GREAT-WEST LIFE & ANNUITY INSURANCE7+ years

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$34,812

MID ATLANTIC CAPITAL CORPORATION7+ years

Filed as: MID-CONTINENT SECURITIES ADVISORS L

Service code 55

1218 WEBSTER ST · HOUSTON, TX 77002

Other Commissions

$27,887

ERICKSEN, KRENTEL & LAPORTE, LLP7+ years

Service code 10

4227 CANAL STREET · NEW ORLEANS, LA 70119

Accounting

$11,800

TD AMERITRADE, INC.6 years

Service code 33

200 S. 108TH AVENUE · OMAHA, NE 68154

Securities brokerage

$25

DONOVAN MARINE, INC. RETIREMENT AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DONOVAN MARINE, INC. RETIREMENT AND PROFIT SHARING 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