American Bureau of Shipping 401(k) Review & Grade
Abs 401(k) Savings Plan
Spring, TXProfessional, Scientific & Technical Services1,462 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,612Employer $ per active participant
$12,436Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$344.9MNet plan assets, end of year
$177,332Average balance per account
Score breakdown
- Employer generosity21.5 / 5043th percentile for employer $ per participant
- Low cost22.1 / 2589th percentile for low admin cost vs. same-size plans
- Employee saving11.6 / 1577th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 43th |
| Lower admin cost | 89th |
| Employee saving | 77th |
| Peers that auto-enroll | 48% |
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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
- American Bureau of Shipping put in about $2,612 per active participant, below the typical peer ($3,082). 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.
- 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 | $3,817,456 |
| Participant (employee) contributions | $18,174,514 |
| Other contributions (incl. rollovers in) | $2,069,831 |
| Administrative expenses paid from the plan | $148,743 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $79,206 |
| Other admin expenses | $139,250 |
| Benefits paid out | $32,150,099 |
| Net assets, start / end of year | $301.1M / $344.9M |
| Active participants, start / end of year | 1,384 / 1,539 |
| Participants with account balances | 1,945 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Mcconnell & Jones LLP |
Largest service providers (Schedule C)
| Qualified Plan Advisors | $106,250 reported compensation |
| Strategic Advisors, Inc. | $79,206 reported compensation |
| Mcconnell & Jones LLP | $33,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013083043NAL0000403283001, received 2025-10-13, EIN 13-4921556, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.