Retirement plan

DONOVAN MARINE, INC. RETIREMENT AND PROFIT SHARING PLAN

Name: DONOVAN MARINE, INC. - DONOVAN MARINE, INC. RETIREMENT AND PROFIT SHARING PLAN (2023) 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 2023

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

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$36.5M

+14.4% from 2022

Total participants

573

+14.8% from 2022

Average account balance

$72,212

-2.8% from 2022

Annual return

14.54%

+28.85 pp from 2022

Benchmarks

See 1,360 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants250-999

Cohort1,360 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$43.37M

Not enough data

1 years with asset history on file

Average account balance

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

$106K

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.

410

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.

83.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.71M

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

+14.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

$514

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 4 by compensation

Provider	Service type	Compensation
BKS RETIREMENT SERVICES1 year Filed as: BKS FINANCIAL INVESTMENTS LLC DBA Service code 27 25400 US 19 N STE 204 · CLEARWATER, FL 33763	Advisory (Plan)	$79,703
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$61,108
ERICKSEN, KRENTEL & LAPORTE, LLP9+ years Service code 10 4227 CANAL STREET · NEW ORLEANS, LA 70119	Accounting	$13,400
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$0

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

2 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.

Expense breakdown

Schedule H Part II

Admin total

$154K

$365 / participant

Investment mgmt$141K91.3%
Other / not subdivided$13K8.7%

% of EOY assets

0.423%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: ERICKSEN KRENTEL LLP
Auditor EIN: 720549733
Audit fees: $13,400
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$72,212

$91,372-21.0%

$129,995-44.5%

$74,419-3.0%

Participation rate

83.9%

77.8%+6.1pp

78.5%+5.4pp

70.7%+13.2pp

Annual return

14.54%

23.21%-8.7pp

-137.18%+151.7pp

34.38%-19.8pp

Employer contribution / active EE

$1,918

$2,563-25.2%

$4,320-55.6%

$2,637-27.3%

Participant deferral / active EE

$4,824

$4,721+2.2%

$5,820-17.1%

$4,528+6.5%

Admin fee / account holder

$305

$283+7.8%

$10,614-97.1%

$348-12.2%

Provider

Service type

Compensation

BKS RETIREMENT SERVICES1 year

Filed as: BKS FINANCIAL INVESTMENTS LLC DBA

Service code 27

25400 US 19 N STE 204 · CLEARWATER, FL 33763

Advisory (Plan)

$79,703

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$61,108

ERICKSEN, KRENTEL & LAPORTE, LLP9+ years

Service code 10

4227 CANAL STREET · NEW ORLEANS, LA 70119

Accounting

$13,400

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

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