Retirement plan

WESTERN TOWBOAT COMPANY 401(K) PROFIT SHARING PLAN

Name: WESTERN TOWBOAT COMPANY - WESTERN TOWBOAT COMPANY 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: WESTERN TOWBOAT COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WESTERN TOWBOAT COMPANY 401(K) PROFIT SHARING PLAN, WESTERN TOWBOAT COMPANY

WESTERN TOWBOAT COMPANYEIN 91-0926119Plan #001PY 2024

617 NW 40TH STREET - SEATTLE, WA 98107206-789-9000westerntowboat.comLinkedIn201-500 employeesmaritime

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$44.1M

+14.7% from 2023

Total participants

223

+2.3% from 2023

Average account balance

$205,063

+11.5% from 2023

Annual return

17.01%

-0.14 pp from 2023

Benchmarks

See 1,231 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants100-249

Cohort1,231 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$44.09M

Not enough data

1 years with asset history on file

Average account balance

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

$205K

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.

215

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.

95.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.63M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+17.01%

Not enough data

1 years with return on file

Admin fee / account holder

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

$360

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

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
RBC WEALTH MANAGEMENT10+ years Service code 26 · EIN 41-1416330 1918 8TH AVE · SEATTLE, WA 98101	Advisory (Participants)	$31,771
NWPS1 year Service code 14 · EIN 91-2090931 4025 DELRIDGE WAY SW · SEATTLE, WA 98106	Plan Administrator	$31,569
MATRIX TRUST COMPANY4 years Service code 19 · EIN 51-0099033 717 17TH STREET · DENVER, CO 80202	Securities Custodian	$14,123

Plan features & details

Pension benefit codes2E2G2J2K2F2T

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.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$77K

$458 / participant

Recordkeeping$32K40.8%
Trustee / custodial$14K18.2%
Investment mgmt$32K41.0%

% of EOY assets

0.176%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$205,063

$54,558+275.9%

$76,051+169.6%

$74,400+175.6%

Participation rate

95.3%

60.3%+35.0pp

69.1%+26.2pp

67.2%+28.1pp

Annual return

17.01%

31.83%-14.8pp

360.42%-343.4pp

1367.51%-1350.5pp

Employer contribution / active EE

$4,767

$1,778+168.1%

$2,690+77.2%

$2,624+81.6%

Participant deferral / active EE

$10,796

$3,065+252.2%

$4,257+153.6%

$4,348+148.3%

Admin fee / account holder

$360

$2,232-83.9%

$6,416-94.4%

$1,944-81.5%

Provider

Service type

Compensation

RBC WEALTH MANAGEMENT10+ years

Service code 26 · EIN 41-1416330

1918 8TH AVE · SEATTLE, WA 98101

Advisory (Participants)

$31,771

NWPS1 year

Service code 14 · EIN 91-2090931

4025 DELRIDGE WAY SW · SEATTLE, WA 98106

Plan Administrator

$31,569

MATRIX TRUST COMPANY4 years

Service code 19 · EIN 51-0099033

717 17TH STREET · DENVER, CO 80202

Securities Custodian

$14,123

WESTERN TOWBOAT COMPANY 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WESTERN TOWBOAT COMPANY 401(K) PROFIT SHARING 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