Island Operating Company, Inc. 401(k) Review & Grade
Island Operating Company, Inc. Profit Sharing 401(k) Plan
Scott, LAMining, Oil & Gas814 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$832Employer $ per active participant
$3,820Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$44.6MNet plan assets, end of year
$88,369Average balance per account
Score breakdown
- Employer generosity3.9 / 508th percentile for employer $ per participant
- Low cost19.5 / 2578th percentile for low admin cost vs. same-size plans
- Employee saving2.0 / 1513th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score18 / 100 · Grade F
This plan vs. peers
Peers: Mining, Oil & Gas plans with 500–2,499 active participants (129 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 8th |
| Lower admin cost | 78th |
| Employee saving | 13th |
| 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
- Island Operating Company put in about $832 per active participant, below the typical peer ($4,357). 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 | $677,263 |
| Participant (employee) contributions | $3,109,218 |
| Other contributions (incl. rollovers in) | $821,154 |
| Administrative expenses paid from the plan | $34,387 |
| Investment advisory & management fees | $20,778 |
| Benefits paid out | $3,440,719 |
| Net assets, start / end of year | $37.2M / $44.6M |
| Active participants, start / end of year | 803 / 825 |
| Participants with account balances | 505 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Thibodaux Hebert Deshotel Leblanc |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $20,778 reported compensation |
| Fidelity Investments Institutional | $13,834 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250909142137NAL0012915747001, received 2025-09-09, EIN 72-1075336, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.