Retirement plan

MARINE CHARTERING CO., INC.SAVINGS AND SECURITY PLAN

Name: MARINE CHARTERING CO., INC. - MARINE CHARTERING CO., INC.SAVINGS AND SECURITY PLAN (2022) Form 5500
Creator: MARINE CHARTERING CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MARINE CHARTERING CO., INC.SAVINGS AND SECURITY PLAN, MARINE CHARTERING CO., INC.

MARINE CHARTERING CO., INC.EIN 94-1320096Plan #003PY 2022

SUITE200 9245 LAGUNA SPRINGS DRIVE - ELK GROVE, CA 957587987415-447-1075chartering.comLinkedIn1-10 employeesmaritime

Prospect flagsHigh feesHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$4.9M

-11.9% from 2021

Total participants

0.0% from 2021

Average account balance

$272,769

-11.9% from 2021

Annual return

-15.38%

-26.55 pp from 2021

Benchmarks

See 8,687 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants<25

Cohort8,687 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.74M

Not enough data

1 years with asset history on file

Average account balance

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

$1.1M

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$74K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+15.15%

Not enough data

1 years with return on file

Admin fee / account holder

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

$18333

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 codes2E2F2G2H2J2T3D

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.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$50K

$7150 / participant

Other / not subdivided$50K100.0%

% of EOY assets

1.019%

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

$272,769

$82,314+231.4%

$68,808+296.4%

$134,532+102.8%

Participation rate

100.0%

75.1%+24.9pp

69.0%+31.0pp

81.2%+18.8pp

Annual return

-15.38%

-2.18%-13.2pp

-6.37%-9.0pp

418.27%-433.6pp

Employer contribution / active EE

$22,587

$3,301+584.2%

$2,656+750.5%

$4,741+376.4%

Participant deferral / active EE

$11,979

$4,740+152.7%

$3,942+203.9%

$6,401+87.1%

Admin fee / account holder

$2,781

$6,484-57.1%

$4,936-43.7%

$11,429-75.7%

MARINE CHARTERING CO., INC.SAVINGS AND SECURITY PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MARINE CHARTERING CO., INC.SAVINGS AND SECURITY 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