Shipco Transport Inc 401(k) Review & Grade
Shipco Transport Inc 401(k) Plan
Hoboken, NJTransportation & Warehousing508 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,937Employer $ per active participant
$4,421Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$39.2MNet plan assets, end of year
$83,829Average balance per account
Score breakdown
- Employer generosity35.0 / 5070th percentile for employer $ per participant
- Low cost19.8 / 2579th percentile for low admin cost vs. same-size plans
- Employee saving10.2 / 1568th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 70th |
| Lower admin cost | 79th |
| Employee saving | 68th |
| Peers that auto-enroll | 37% |
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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 ($83,525 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
- Shipco Transport put in about $1,937 per active participant, more than the typical peer ($1,070). 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.
- 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 | $985,083 |
| Participant (employee) contributions | $2,247,973 |
| Other contributions (incl. rollovers in) | $209,635 |
| Administrative expenses paid from the plan | $29,187 |
| Investment advisory & management fees | $16,000 |
| Benefits paid out | $2,647,358 |
| Net assets, start / end of year | $33.9M / $39.2M |
| Active participants, start / end of year | 521 / 496 |
| Participants with account balances | 468 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bdo USA, PC |
Largest service providers (Schedule C)
| Prime Trust Advisors | $16,000 reported compensation |
| Adp, Inc. | $13,187 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260610132127NAL0005144851001, received 2026-06-10, EIN 13-3468377, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.