Retirement plan

MCDERMOTT SAVINGS PLAN

Name: MCDERMOTT INVESTMENTS - MCDERMOTT SAVINGS PLAN (2022) Form 5500
Creator: MCDERMOTT INVESTMENTS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MCDERMOTT SAVINGS PLAN, MCDERMOTT INVESTMENTS

MCDERMOTT INVESTMENTSEIN 74-1032246Plan #004PY 2022

915 N ELDRIDGE PARKWAY - HOUSTON, TX 77079281-870-5243

Other plans on this EIN

1 filing

#001Retirement-$6.5M assets

Prospect flagsLow returnsLow participationFailed to provide benefitCorrective distributions

Top hat statement on fileNQDC

Filed February 26, 1993

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

Open the filing PDF

How to read this page

Total assets (EOY)

$1200.9M

-26.7% from 2021

Total participants

9,368

-8.7% from 2021

Average account balance

$152,520

-20.5% from 2021

Annual return

-17.85%

-29.07 pp from 2021

Benchmarks

See 502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort502 peers

Snapshot2022

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

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Analytics

Total assets (EOY)

Plan-year ending balance

$1.35B

Not enough data

1 years with asset history on file

Average account balance

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

$151K

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.

8,951

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.

55.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$34.21M

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

+13.24%

Not enough data

1 years with return on file

Admin fee / account holder

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

$-1

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 5 by compensation

Provider	Service type	Compensation
STRATEGIC ADVISORS, INC.4+ years Service code 27 · EIN 04-2654524	Advisory (Plan)	$203,878
MERCER3 years Filed as: MERCER INVESTMENT LLC Service code 16 · EIN 13-2834414	Consulting	$121,611
ESLER & VANDERSCHAAFF CO., L.P.A4+ years Filed as: ESLER & VANDERSCHAAFF CO., L.P.A. Service code 29 · EIN 31-1399107	Legal	$36,152
CALVETTI FERGUSON1 year Filed as: CALVETTI FERGUSON, LLC Service code 10 · EIN 13-4255527	Accounting	$28,000
FIDELITY INVESTMENTS INSTITUTIONAL4+ years Service code 37 · EIN 04-2647786	Loan Processing	-$318,130

Plan features & details

Pension benefit codes2J2K2E2T3H2R2G

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$70K

$21 / participant

Investment mgmt$204K291.2%

% of EOY assets

0.006%

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: CALVETTI FERGUSON, LLC
Auditor EIN: 134255527
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$152,520

$76,774+98.7%

$112,228+35.9%

$77,904+95.8%

Participation rate

54.9%

80.2%-25.2pp

75.1%-20.1pp

73.7%-18.7pp

Annual return

-17.85%

-10.25%-7.6pp

27.45%-45.3pp

12.21%-30.1pp

Employer contribution / active EE

$2,665

$3,977-33.0%

$3,635-26.7%

$2,848-6.4%

Participant deferral / active EE

$6,596

$3,778+74.6%

$4,728+39.5%

$4,806+37.2%

Admin fee / account holder

$239-96.3%

$6,410-99.9%

$133-93.3%

Provider

Service type

Compensation

STRATEGIC ADVISORS, INC.4+ years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$203,878

MERCER3 years

Filed as: MERCER INVESTMENT LLC

Service code 16 · EIN 13-2834414

Consulting

$121,611

ESLER & VANDERSCHAAFF CO., L.P.A4+ years

Filed as: ESLER & VANDERSCHAAFF CO., L.P.A.

Service code 29 · EIN 31-1399107

Legal

$36,152

CALVETTI FERGUSON1 year

Filed as: CALVETTI FERGUSON, LLC

Service code 10 · EIN 13-4255527

Accounting

$28,000

FIDELITY INVESTMENTS INSTITUTIONAL4+ years

Service code 37 · EIN 04-2647786

Loan Processing

-$318,130

MCDERMOTT SAVINGS PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MCDERMOTT SAVINGS PLAN

Top hat statement on fileNQDC

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