Grand Isle Shipyard, LLC 401(k) Review & Grade
Gis, LLC Compensation Deferral Plan
Galliano, LATransportation & Warehousing2,936 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,242Employer $ per active participant
$3,543Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$86.3MNet plan assets, end of year
$32,349Average balance per account
Score breakdown
- Employer generosity18.0 / 5036th percentile for employer $ per participant
- Low cost11.9 / 2548th percentile for low admin cost vs. same-size plans
- Employee saving6.8 / 1545th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score37 / 100 · Grade D
This plan vs. peers
Peers: Transportation & Warehousing plans with 2,500–9,999 active participants (123 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 36th |
| Lower admin cost | 48th |
| Employee saving | 45th |
| Peers that auto-enroll | 46% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($5,629,718 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Grand Isle Shipyard put in about $1,242 per active participant, below the typical peer ($1,834). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $3,646,381 |
| Participant (employee) contributions | $10,401,996 |
| Other contributions (incl. rollovers in) | $1,436,563 |
| Administrative expenses paid from the plan | $102,640 |
| Contract administrator fees | $82,640 |
| Investment advisory & management fees | $20,000 |
| Benefits paid out | $8,156,578 |
| Net assets, start / end of year | $69.3M / $86.3M |
| Active participants, start / end of year | 2,335 / 3,537 |
| Participants with account balances | 2,667 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Laporte, Apac |
Largest service providers (Schedule C)
| Oneamerica Retirement Services LLC | $82,640 reported compensation |
| Regions Bank | $20,000 reported compensation |
| Matrix Trust Company | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015133747NAL0009865810001, received 2025-10-15, EIN 72-0393251, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.