Retirement plan

ARO DRILLING 401(K) PLAN

Name: SAUDI ARAMCO ROWAN OFFSHORE DRILLING COMPANY (A KSA JOINT VENTURE) - ARO DRILLING 401(K) PLAN (2024) Form 5500
Creator: SAUDI ARAMCO ROWAN OFFSHORE DRILLING COMPANY (A KSA JOINT VENTURE)
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ARO DRILLING 401(K) PLAN, SAUDI ARAMCO ROWAN OFFSHORE DRILLING COMPANY (A KSA JOINT VENTURE)

SAUDI ARAMCO ROWAN OFFSHORE DRILLING COMPANY (A KSA JOINT VENTURE)EIN 98-1500138Plan #001PY 2024

P.O. BOX 422130 - HOUSTON, TX 77042713-960-7550

Prospect flagsHigh feesHigh assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$65.7M

+0.0% from 2023

Total participants

204

-4.2% from 2023

Average account balance

$323,744

+4.5% from 2023

Annual return

14.28%

-5.94 pp from 2023

Benchmarks

See 269 peers

Peer group

Industry21 - Mining, Quarrying, and Oil and Gas Extraction

Plan typeDefined contribution

Participants100-249

Cohort269 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$65.72M

Not enough data

1 years with asset history on file

Average account balance

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

$324K

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.

203

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.

99.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.37M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$26K

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

+14.28%

Not enough data

1 years with return on file

Admin fee / account holder

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

$497

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 4 by compensation

Provider	Service type	Compensation
MERCER5+ years Filed as: MERCER INVESTMENTS LLC Service code 16 · EIN 30-0282430	Consulting	$63,906
FIDELITY INVESTMENTS INSTITUTIONAL5+ years Service code 64 · EIN 04-2647786	Recordkeeping Fees	$19,144
MELTON & MELTON LLP3 years Service code 10 · EIN 74-1550819	Accounting	$12,146
ALAN ROBIN LAW PLLC4 years Service code 29 · EIN 46-6843772	Legal	$5,651

Plan features & details

Pension benefit codes2G2F2J2K2S2T3D

Plan features

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$101K

$590 / participant

Recordkeeping$17K17.2%
Legal$6K5.6%
Contract admin$2K1.8%
Other / not subdivided$76K75.4%

% of EOY assets

0.153%

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: MELTON & MELTON, LLP
Auditor EIN: 741550819
Audit fees: $12,146
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$323,744

$79,700+306.2%

$153,643+110.7%

$74,459+334.8%

Participation rate

99.4%

69.8%+29.6pp

77.1%+22.3pp

67.2%+32.2pp

Annual return

14.28%

15.07%-0.8pp

15.71%-1.4pp

1369.70%-1355.4pp

Employer contribution / active EE

$9,771

$4,016+143.3%

$5,039+93.9%

$2,626+272.1%

Participant deferral / active EE

$15,783

$5,315+197.0%

$6,754+133.7%

$4,350+262.9%

Admin fee / account holder

$497

$1,790-72.2%

$12,739-96.1%

$1,945-74.5%

Provider

Service type

Compensation

MERCER5+ years

Filed as: MERCER INVESTMENTS LLC

Service code 16 · EIN 30-0282430

Consulting

$63,906

FIDELITY INVESTMENTS INSTITUTIONAL5+ years

Service code 64 · EIN 04-2647786

Recordkeeping Fees

$19,144

MELTON & MELTON LLP3 years

Service code 10 · EIN 74-1550819

Accounting

$12,146

ALAN ROBIN LAW PLLC4 years

Service code 29 · EIN 46-6843772

Legal

$5,651

ARO DRILLING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ARO DRILLING 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