Retirement plan

OCEANS INITIATIVE 401(K) PLAN

Name: OCEANS INITIATIVE - OCEANS INITIATIVE 401(K) PLAN (2024) Form 5500
Creator: OCEANS INITIATIVE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OCEANS INITIATIVE 401(K) PLAN, OCEANS INITIATIVE

OCEANS INITIATIVEEIN 90-1015993Plan #001PY 2024

117 E. LOUISA ST., #135 - SEATTLE, WA 98102206-300-2856oceansinitiative.orgLinkedIn11-50 employeesresearch

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$117K

+26.9% from 2023

Total participants

+100.0% from 2023

Average account balance

$58,647

+26.9% from 2023

Annual return

10.66%

-3.79 pp from 2023

Benchmarks

See 6,251 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants<25

Cohort6,251 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$117K

Not enough data

1 years with asset history on file

Average account balance

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

$59K

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.

50.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$15K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+10.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1345

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

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.)

Expense breakdown

Schedule H Part II

Admin total

$3K

$673 / participant

Other / not subdivided$3K100.0%

% of EOY assets

2.293%

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

$58,647

$150,435-61.0%

$120,580-51.4%

$145,897-59.8%

Participation rate

50.0%

78.8%-28.8pp

72.0%-22.0pp

80.3%-30.3pp

Annual return

10.66%

154.60%-143.9pp

107.48%-96.8pp

552.29%-541.6pp

Employer contribution / active EE

$1,696

$4,352-61.0%

$3,469-51.1%

$4,663-63.6%

Participant deferral / active EE

$2,058

$6,174-66.7%

$4,995-58.8%

$6,689-69.2%

Admin fee / account holder

$1,345

$12,182-89.0%

$9,418-85.7%

$13,390-90.0%

OCEANS INITIATIVE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OCEANS INITIATIVE 401(K) 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