Eastern Shipbuilding Group, Inc. 401(k) Review & Grade
Eastern Shipbuilding Group, Inc. 401(k) Plan
Panama City, FLManufacturing1,072 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,408Employer $ per active participant
$2,636Employee $ saved per active participant
0.27%Direct admin cost, % of plan assets
$24.4MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity14.0 / 5028th percentile for employer $ per participant
- Low cost11.1 / 2544th percentile for low admin cost vs. same-size plans
- Employee saving2.8 / 1519th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score31 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 28th |
| Lower admin cost | 44th |
| Employee saving | 19th |
| 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
- Eastern Shipbuilding Group put in about $1,408 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.
- 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 | $1,509,543 |
| Participant (employee) contributions | $2,826,166 |
| Other contributions (incl. rollovers in) | $610,490 |
| Administrative expenses paid from the plan | $60,044 |
| Investment advisory & management fees | $10,861 |
| Benefits paid out | $3,068,560 |
| Net assets, start / end of year | $19.8M / $24.4M |
| Active participants, start / end of year | 767 / 1,377 |
| Participants with account balances | 535 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Avizo Group, Inc |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $49,184 reported compensation |
| Regions Bank | $10,861 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250923125118NAL0008028323001, received 2025-09-23, EIN 59-3393650, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.