Galliano Marine Service, L.L.C. 401(k) Review & Grade
Edison Chouest Offshore Retirement Plan
Cut Off, LATransportation & Warehousing4,588 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,152Employer $ per active participant
$5,616Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$380.9MNet plan assets, end of year
$99,894Average balance per account
Score breakdown
- Employer generosity29.1 / 5058th percentile for employer $ per participant
- Low cost17.3 / 2569th percentile for low admin cost vs. same-size plans
- Employee saving10.0 / 1566th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score59 / 100 · Grade C
This plan vs. peers
Peers: Transportation & Warehousing plans with 2,500–9,999 active participants (123 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 58th |
| Lower admin cost | 69th |
| Employee saving | 66th |
| Peers that auto-enroll | 46% |
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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
- Galliano Marine Service put in about $2,152 per active participant, more than the typical peer ($1,834). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 | $9,870,845 |
| Participant (employee) contributions | $25,765,037 |
| Other contributions (incl. rollovers in) | $555,427 |
| Administrative expenses paid from the plan | $238,988 |
| Contract administrator fees | $189,357 |
| Investment advisory & management fees | $49,241 |
| Other admin expenses | $390 |
| Benefits paid out | $36,436,404 |
| Net assets, start / end of year | $325.8M / $380.9M |
| Active participants, start / end of year | 4,557 / 4,618 |
| Participants with account balances | 3,813 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Eisneramper LLP |
Largest service providers (Schedule C)
| Oneamerica Retirement Services LLC | $189,357 reported compensation |
| Regions Bank | $47,000 reported compensation |
| Matrix Trust Company | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013201846NAL0000931539001, received 2025-10-13, EIN 72-0722768, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.