Diamond Offshore Management Company 401(k) Review & Grade
Diamond Offshore 401(k) Plan
Houston, TXMining, Oil & Gas1,110 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$6,176Employer $ per active participant
$11,754Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$377.4MNet plan assets, end of year
$281,665Average balance per account
Score breakdown
- Employer generosity32.0 / 5064th percentile for employer $ per participant
- Low cost18.6 / 2574th percentile for low admin cost vs. same-size plans
- Employee saving12.8 / 1585th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score56 / 100 · Grade C
This plan vs. peers
Peers: Mining, Oil & Gas plans with 500–2,499 active participants (129 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 64th |
| Lower admin cost | 74th |
| Employee saving | 85th |
| Peers that auto-enroll | 60% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Diamond Offshore Management put in about $6,176 per active participant, more than the typical peer ($4,357). 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 | $6,855,446 |
| Participant (employee) contributions | $13,046,423 |
| Other contributions (incl. rollovers in) | $691,227 |
| Administrative expenses paid from the plan | $361,774 |
| Contract administrator fees | $1,500 |
| Investment advisory & management fees | $299,830 |
| Benefits paid out | $55,048,777 |
| Net assets, start / end of year | $355.8M / $377.4M |
| Active participants, start / end of year | 1,272 / 948 |
| Participants with account balances | 1,340 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Weaver & Tidwell LLP |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $224,863 reported compensation |
| Prime Capital Investment Advisors | $74,967 reported compensation |
| Fidelity Investments Institutional | $44,246 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250925094258NAL0019083970001, received 2025-09-25, EIN 13-3560049, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.