Blessey Marine Services, Inc. 401(k) Review & Grade
Blessey Marine Services, Inc. 401(k) Plan
Harahan, LATransportation & Warehousing652 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,737Employer $ per active participant
$5,230Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$65.9MNet plan assets, end of year
$118,233Average balance per account
Score breakdown
- Employer generosity41.0 / 5082th percentile for employer $ per participant
- Low cost20.3 / 2581th percentile for low admin cost vs. same-size plans
- Employee saving11.4 / 1576th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score76 / 100 · Grade A
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 82th |
| Lower admin cost | 81th |
| Employee saving | 76th |
| Peers that auto-enroll | 37% |
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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
- Blessey Marine Services put in about $2,737 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.
- 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 | $1,782,856 |
| Participant (employee) contributions | $3,407,246 |
| Other contributions (incl. rollovers in) | $183,754 |
| Administrative expenses paid from the plan | $44,175 |
| Contract administrator fees | $25,675 |
| Benefits paid out | $5,920,887 |
| Net assets, start / end of year | $59.1M / $65.9M |
| Active participants, start / end of year | 628 / 675 |
| Participants with account balances | 557 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bourgeois Bennett, LLC |
Largest service providers (Schedule C)
| SCP Retirement Services LLC | $29,105 reported compensation |
| Bourgeois Bennett LLC | $18,500 reported compensation |
| Morningstar | $8,900 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929144558NAL0005094131001, received 2025-09-29, EIN 72-1208683, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.