Bollinger Shipyards, LLC 401(k) Review & Grade
Bollinger Shipyards 401(k) Savings Plan
Lockport, LAManufacturing1,990 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,161Employer $ per active participant
$3,581Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$109.1MNet plan assets, end of year
$54,717Average balance per account
Score breakdown
- Employer generosity10.6 / 5021th percentile for employer $ per participant
- Low cost17.2 / 2569th percentile for low admin cost vs. same-size plans
- Employee saving4.6 / 1531th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score42 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 21th |
| Lower admin cost | 69th |
| Employee saving | 31th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Bollinger Shipyards put in about $1,161 per active participant, below the typical peer ($2,320). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $2,310,486 |
| Participant (employee) contributions | $7,127,146 |
| Other contributions (incl. rollovers in) | $484,027 |
| Administrative expenses paid from the plan | $126,983 |
| Contract administrator fees | $110,183 |
| Investment advisory & management fees | $16,800 |
| Benefits paid out | $8,894,674 |
| Net assets, start / end of year | $96.9M / $109.1M |
| Active participants, start / end of year | 1,899 / 2,082 |
| Participants with account balances | 1,993 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Eisneramper LLP |
Largest service providers (Schedule C)
| Oneamerica Retirement Services LLC | $110,183 reported compensation |
| Regions Bank | $16,800 reported compensation |
| Matrix Trust Company | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250801131748NAL0010128432001, received 2025-08-01, EIN 47-1703961, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.