Retirement plan

OFFSHORE ENERGY SERVICES 401(K) PROFIT SHARING PLAN

Name: OFFSHORE ENERGY SERVICES, LLC - OFFSHORE ENERGY SERVICES 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: OFFSHORE ENERGY SERVICES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OFFSHORE ENERGY SERVICES 401(K) PROFIT SHARING PLAN, OFFSHORE ENERGY SERVICES, LLC

OFFSHORE ENERGY SERVICES, LLCEIN 72-0759483Plan #002PY 2022

5900 U.S. HIGHWAY 90 EAST - BROUSSARD, LA 70518337-233-3442offshoreenergyservices.comLinkedIn501-1000 employeesoil & energy

Prospect flagsLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$28.3M

-9.3% from 2021

Total participants

758

+21.1% from 2021

Average account balance

$52,446

-19.7% from 2021

Annual return

-17.26%

-30.65 pp from 2021

Benchmarks

See 1,172 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort1,172 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$41.10M

Not enough data

1 years with asset history on file

Average account balance

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

$70K

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.

586

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.

61.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.78M

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

+14.80%

Not enough data

1 years with return on file

Admin fee / account holder

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

$204

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 4 by compensation

Provider	Service type	Compensation
RAYMOND JAMES FINANCIAL SERVICES2 years Service code 26 · EIN 59-2937883	Advisory (Participants)	$64,192
ASCENSUS LLC2 years Filed as: RETIREMENT STRATEGIES GROUP Service code 49 800 W COMMERCE ROAD, SUITE 105 · NEW ORLEANS, LA 70123	Other Services	$15,172
VOYA RETIREMENT INSURANCE & ANNUITY1 year Filed as: VOYA RETIREMENT AND ANNUITY COMPANY Service code 64	Recordkeeping Fees	$164
VOYA RETIREMENT INSURANCE & ANNUITY1 year Filed as: VOYA RETIREMENT INSURANCE AND ANNUI Service code 49 · EIN 71-0294708	Other Services	$0

Plan features & details

Pension benefit codes3D2E2F2G2H2J2K3H

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.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$77K

$124 / participant

Contract admin$77K100.0%

% of EOY assets

0.271%

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: THIBODAUX HEBERT DESHOTELS LEBLANC
Auditor EIN: 208102502
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$52,446

$81,948-36.0%

$90,766-42.2%

$64,824-19.1%

Participation rate

64.6%

80.5%-15.8pp

75.7%-11.1pp

71.5%-6.9pp

Annual return

-17.26%

-12.53%-4.7pp

-12.16%-5.1pp

32.84%-50.1pp

Employer contribution / active EE

$2,746

$3,067-10.5%

$2,922-6.0%

$2,507+9.5%

Participant deferral / active EE

$4,129

$4,844-14.7%

$4,565-9.5%

$4,311-4.2%

Admin fee / account holder

$142

$157-9.4%

$8,446-98.3%

$188-24.2%

Provider

Service type

Compensation

RAYMOND JAMES FINANCIAL SERVICES2 years

Service code 26 · EIN 59-2937883

Advisory (Participants)

$64,192

ASCENSUS LLC2 years

Filed as: RETIREMENT STRATEGIES GROUP

Service code 49

800 W COMMERCE ROAD, SUITE 105 · NEW ORLEANS, LA 70123

Other Services

$15,172

VOYA RETIREMENT INSURANCE & ANNUITY1 year

Filed as: VOYA RETIREMENT AND ANNUITY COMPANY

Service code 64

Recordkeeping Fees

$164

VOYA RETIREMENT INSURANCE & ANNUITY1 year

Filed as: VOYA RETIREMENT INSURANCE AND ANNUI

Service code 49 · EIN 71-0294708

Other Services

OFFSHORE ENERGY SERVICES 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OFFSHORE ENERGY SERVICES 401(K) 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