Retirement plan

401(K) PLAN FOR OPERATING ENGINEERS LOCAL 406- CT STEVEDORING, INC.

Name: CT STEVEDORING, INC. - 401(K) PLAN FOR OPERATING ENGINEERS LOCAL 406- CT STEVEDORING, INC. (2022) Form 5500
Creator: CT STEVEDORING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 401(K) PLAN FOR OPERATING ENGINEERS LOCAL 406- CT STEVEDORING, INC., CT STEVEDORING, INC.

CT STEVEDORING, INC.EIN 74-2481777Plan #002PY 2022

P.O. BOX 1566 - MOBILE, AL 36693251-431-6100LinkedIn1-10 employees

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$4.3M

-19.2% from 2021

Total participants

133

+6.4% from 2021

Average account balance

$56,974

-24.6% from 2021

Annual return

-18.21%

-38.94 pp from 2021

Benchmarks

See 1,125 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants100-249

Cohort1,125 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.74M

Not enough data

1 years with asset history on file

Average account balance

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

$52K

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.

74.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$275K

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

+19.27%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6052

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

Top 2 by compensation

Provider	Service type	Compensation
HANCOCK WHITNEY BANK2+ years Service code 21 · EIN 64-0169065	Bank Trustee	$11,265
CHARLES SCHWAB & CO., INC.2+ years Service code 59 · EIN 94-1737782	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$11K

$100 / participant

Other / not subdivided$11K100.0%

% of EOY assets

0.264%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BLACK & PINCKARD LLC
Auditor EIN: 260079381
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$56,974

$63,471-10.2%

$68,803-17.2%

$66,949-14.9%

Participation rate

48.7%

60.0%-11.3pp

69.0%-20.3pp

69.8%-21.1pp

Annual return

-18.21%

-8.29%-9.9pp

-6.37%-11.8pp

1.57%-19.8pp

Employer contribution / active EE

$1,776-100.0%

$2,656-100.0%

$2,545-100.0%

Participant deferral / active EE

$2,059

$2,946-30.1%

$3,942-47.8%

$4,239-51.4%

Admin fee / account holder

$150

$578-74.0%

$4,936-97.0%

$594-74.7%

Provider

Service type

Compensation

HANCOCK WHITNEY BANK2+ years

Service code 21 · EIN 64-0169065

Bank Trustee

$11,265

CHARLES SCHWAB & CO., INC.2+ years

Service code 59 · EIN 94-1737782

Shareholder Servicing

401(K) PLAN FOR OPERATING ENGINEERS LOCAL 406- CT STEVEDORING, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

401(K) PLAN FOR OPERATING ENGINEERS LOCAL 406- CT STEVEDORING, INC.

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