Retirement plan

ESSEX BOAT WORKS LLC 401(K) PROFIT SHARING PLAN & TRUST

Name: ESSEX BOAT WORKS LLC - ESSEX BOAT WORKS LLC 401(K) PROFIT SHARING PLAN & TRUST (2022) Form 5500
Creator: ESSEX BOAT WORKS LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ESSEX BOAT WORKS LLC 401(K) PROFIT SHARING PLAN & TRUST, ESSEX BOAT WORKS LLC

ESSEX BOAT WORKS LLCEIN 81-0752647Plan #001PY 2022

9 FERRY ST - ESSEX, CT 06426860-767-8276essexboatworks.comLinkedIn11-50 employeesmaritime

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$654K

-4.9% from 2021

Total participants

-7.7% from 2021

Average account balance

$65,389

-23.9% from 2021

Annual return

-21.68%

-44.14 pp from 2021

Benchmarks

See 21,402 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort21,402 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.59M

Not enough data

1 years with asset history on file

Average account balance

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

$159K

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.

90.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$108K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+16.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5531

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

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

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

$5K

$389 / participant

Other / not subdivided$5K100.0%

% of EOY assets

0.713%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$65,389

$95,917-31.8%

$79,583-17.8%

$134,545-51.4%

Participation rate

83.3%

75.0%+8.3pp

69.5%+13.8pp

81.2%+2.1pp

Annual return

-21.68%

-2.70%-19.0pp

0.16%-21.8pp

418.37%-440.0pp

Employer contribution / active EE

$3,797

$3,129+21.4%

$2,414+57.3%

$4,742-19.9%

Participant deferral / active EE

$5,903

$4,694+25.8%

$3,986+48.1%

$6,401-7.8%

Admin fee / account holder

$467

$9,132-94.9%

$6,835-93.2%

$11,431-95.9%

ESSEX BOAT WORKS LLC 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ESSEX BOAT WORKS LLC 401(K) PROFIT SHARING PLAN & TRUST

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