Norfolk Tug Company401(k)
USWT 401(K) PLAN · NORFOLK, VA · plan year 2023
Peer grade: B · admin costs + employer contributions vs same-size plans · how grading works
Norfolk Tug Company reported $59,163 in plan administrative expenses for 2023: 0.46% of average plan assets, higher than ~75% of peers. Employer contributions averaged $4,446 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 1 year on file its reported administrative ratio rose from 0.43% to 0.46%. The plan sits in the $10M–$50M size bracket, benchmarked here against 26,779 comparable plans and shown alongside other transportation & warehousing employers. By assets it is among the smaller plans on file in Virginia (1,243rd of 2,266), and the 948th of 2,677 in transportation & warehousing. In 2023, employees put in $1.48 for every $1.00 the employer contributed.
Norfolk Tug Company's 2023 employer contribution ran above the $2,440 median for plans its size, placing it in the top 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.
Annual cost at the plan's reported 2023 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 541919409 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.