Mormac Marine Group, Inc.401(k)
MORMAC MARINE GROUP., INC SAVINGS AND RETIREMENT PLAN · CLEVELAND, OH · plan year 2024
Peer grade: B · admin costs + employer contributions vs same-size plans · how grading works
Mormac Marine Group, Inc. reported $56,466 in plan administrative expenses for 2024: 0.17% of average plan assets, below the peer median. Employer contributions averaged $1,586 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio rose from 0.13% to 0.17%. The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other transportation & warehousing employers. By assets it is the 882nd-largest of 3,295 plans among Ohio employers on file, and the 505th of 2,677 in transportation & warehousing. In 2024, employees put in $1.43 for every $1.00 the employer contributed; active participation has grown from 629 to 753 since 2022.
Mormac Marine Group, Inc.'s 2024 employer contribution ran below the $2,416 median for plans its size. 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.
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
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Source: U.S. Department of Labor, Form 5500 series, EIN 061192642 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.