Offshore Energy Services, LLC 401(k) Review & Grade
Offshore Energy Services 401(k) Profit Sharing Plan
Broussard, LAManufacturing654 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,584Employer $ per active participant
$4,732Employee $ saved per active participant
0.32%Direct admin cost, % of plan assets
$40.8MNet plan assets, end of year
$69,678Average balance per account
Score breakdown
- Employer generosity27.7 / 5055th percentile for employer $ per participant
- Low cost9.7 / 2539th percentile for low admin cost vs. same-size plans
- Employee saving7.0 / 1547th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 55th |
| Lower admin cost | 39th |
| Employee saving | 47th |
| 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
- Offshore Energy Services put in about $2,584 per active participant, more than the typical peer ($2,320). 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 | $1,689,875 |
| Participant (employee) contributions | $3,094,468 |
| Other contributions (incl. rollovers in) | $191,377 |
| Administrative expenses paid from the plan | $119,381 |
| Contract administrator fees | $119,381 |
| Benefits paid out | $3,587,332 |
| Net assets, start / end of year | $34.7M / $40.8M |
| Active participants, start / end of year | 628 / 680 |
| Participants with account balances | 586 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Thibodaux Hebert Deshotels Leblanc |
Largest service providers (Schedule C)
| Raymond James and Associates Inc. | $75,605 reported compensation |
| SCP Retirement Services LLC | $15,836 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015104407NAL0002162275001, received 2025-10-15, EIN 72-0759483, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.