Retirement plan

METSON MARINE SERVICES, INC. 401(K) PLAN & TRUST

Name: METSON MARINE SERVICES, INC. - METSON MARINE SERVICES, INC. 401(K) PLAN & TRUST (2020) Form 5500
Creator: METSON MARINE SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, METSON MARINE SERVICES, INC. 401(K) PLAN & TRUST, METSON MARINE SERVICES, INC.

METSON MARINE SERVICES, INC.EIN 88-0308650Plan #001PY 2020

2060 KNOLL DR #100 - VENTURA, CA 93003805-585-5872metsonmarine.comLinkedIn51-200 employeesmaritime

Prospect flagsLow returnsHigh feesLow participationCorrective distributions

How to read this page

Total assets (EOY)

$5.3M

-1.2% from 2019

Total participants

250

+2.5% from 2019

Average account balance

$37,456

-4.7% from 2019

Annual return

10.23%

-6.21 pp from 2019

Benchmarks

See 1,062 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants100-249

Cohort1,062 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.97M

Not enough data

1 years with asset history on file

Average account balance

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

$36K

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.

196

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.

82.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$956K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+11.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$256

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
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$22,454
NFP RETIREMENT INC2 years Service code 27 120 VANTIS STE 400 · ALISO VIEJO, CA 926562689	Advisory (Plan)	$19,193
FLEXPATH STRATEGIES, LLC1 year Filed as: FLEXPATH STRATEGIES LLC Service code 27 120 VANTIS STE400 · ALISO VIEJO, CA 92656	Advisory (Plan)	$2,218
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: ADVISED ASSETS GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$624

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3B3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

4 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$44K

$222 / participant

Investment mgmt$22K49.5%
Contract admin$22K50.5%

% of EOY assets

0.836%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: HOLTHOUSE CARLIN & VAN TRIGT LLP
Auditor EIN: 954345526
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,456

$55,636-32.7%

$81,988-54.3%

$73,493-49.0%

Participation rate

46.0%

62.3%-16.3pp

69.3%-23.3pp

70.7%-24.7pp

Annual return

10.23%

19.07%-8.8pp

41.31%-31.1pp

28.51%-18.3pp

Employer contribution / active EE

$448

$1,625-72.4%

$2,498-82.1%

$2,270-80.3%

Participant deferral / active EE

$2,190

$2,762-20.7%

$3,722-41.2%

$3,740-41.4%

Admin fee / account holder

$313

$493-36.4%

$5,665-94.5%

$513-38.9%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$22,454

NFP RETIREMENT INC2 years

Service code 27

120 VANTIS STE 400 · ALISO VIEJO, CA 926562689

Advisory (Plan)

$19,193

FLEXPATH STRATEGIES, LLC1 year

Filed as: FLEXPATH STRATEGIES LLC

Service code 27

120 VANTIS STE400 · ALISO VIEJO, CA 92656

Advisory (Plan)

$2,218

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: ADVISED ASSETS GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$624

METSON MARINE SERVICES, INC. 401(K) PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

METSON MARINE SERVICES, INC. 401(K) 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