Ocean Properties LTD. 401(k) Review & Grade
Ocean Properties LTD. 401(k) Plan
Portsmouth, NHAccommodation & Food Services3,058 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$266Employer $ per active participant
$1,425Employee $ saved per active participant
0.47%Direct admin cost, % of plan assets
$42.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity25.7 / 5051th percentile for employer $ per participant
- Low cost3.5 / 2514th percentile for low admin cost vs. same-size plans
- Employee saving11.4 / 1576th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Accommodation & Food Services plans with 2,500–9,999 active participants (104 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 51th |
| Lower admin cost | 14th |
| Employee saving | 76th |
| Peers that auto-enroll | 15% |
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Red flags from the filing
Corrective distributions: the plan refunded $224,887 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ocean Properties put in about $266 per active participant, more than the typical peer ($244). 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.
- Direct plan expenses (0.47% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $812,811 |
| Participant (employee) contributions | $4,358,763 |
| Other contributions (incl. rollovers in) | $737,749 |
| Administrative expenses paid from the plan | $185,017 |
| Investment advisory & management fees | $63,560 |
| Benefits paid out | $2,919,713 |
| Net assets, start / end of year | $35.4M / $42.7M |
| Active participants, start / end of year | 3,360 / 2,757 |
| Participants with account balances | 1,502 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Newman Noyes |
Largest service providers (Schedule C)
| Empower Annuity Ins Co of America | $121,457 reported compensation |
| Linsco/private Ledger Corp | $70,136 reported compensation |
| Empower Advisory Group, LLC | $63,560 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014142845NAL0004244240001, received 2025-10-14, EIN 01-0333103, plan #007, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.