Plan Ledger DOL Form 5500 · updated monthly

McDermott Investments401(k)

MCDERMOTT SAVINGS PLAN · HOUSTON, TX · plan year 2024

Employer contribution per participant · 2024
$2,033

McDermott Investments's 2024 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $1,353,429,851 across 8,951 participant accounts, with employer contributions averaging $2,033 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the over $1B size bracket, benchmarked here against 1,229 comparable plans and shown alongside other construction employers. By assets it is the 89th-largest of 5,688 plans among Texas employers on file, and the 38th of 5,337 in construction. In 2024, employees put in $2.30 for every $1.00 the employer contributed; active participation has grown from 3,316 to 5,104 since 2022.

Plan summary
Net assets, end of year$1,353,429,851
Participants with balances8,951
Active participants5,104
Employer contributions$10,378,750
Employee contributions$23,829,982
Employer contribution per active participant$2,033
Average account balance$151,204
Benefits paid to participants$163,177,072
Plan auditUnmodified (clean) audit opinion
Plan history3
Yearassets · accounts · employer contribution
2024$1.4B · 8,951 accts · $10.4M emplr
2023$1.3B · 7,314 accts · $18.8M emplr
2022$1.2B · 7,874 accts · $8.8M emplr
Administrative expenses, itemized · 2024
Investment management$174,906
Audit (IQPA)$30,000
Total administrative-$10,556
The McDermott Investments 401(k) match · 2024
Employer contribution per active participant$2,033
Median for plans this size$5,259
2024$2,033 per active participant
2023$5,214 per active participant
2022$2,665 per active participant

McDermott Investments's 2024 employer contribution ran below the $5,259 median for plans its size, in the bottom quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

Service providers · 20245
STRATEGIC ADVISORS, INC. · Investment advisory (plan)$174,906
MERCER INVESTMENT LLC · Consulting$128,714
ESLER & VANDERSCHAAFF CO., L.P.A. · Legal$32,647
CALVETTI FERGUSON, P.C. · Accounting / audit$30,000
FIDELITY INVESTMENTS INSTITUTIONAL · Loan processingindirect comp

Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.

Administrative cost history3
2024Not separately reported
2023Not separately reported
2022$70,003 · 0.00%
Same employer
Similar plansConstruction · Texas
Fluor Corporation TX$3.5B · 0.07%
Quanta Services Inc. TX$2.2B · 0.09%
D.R. Horton, Inc. TX$1.4B · 0.09%
Crown Castle Inc. TX$1.1B · 0.02%
Comfort Systems USA, Inc. TX$1.1B · 0.06%

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Source: U.S. Department of Labor, Form 5500 series, EIN 741032246 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.