Plan Ledger DOL Form 5500 · updated monthly

Waterfront Brands401(k)

SHOREMASTER HYDROHOIST HOLDINGS RETIREMENT PLAN · FERGUS FALLS, MN · plan year 2024

Reported admin expense ratio · 2024
0.37%

Peer grade: C+ · admin costs + employer contributions vs same-size plans · how grading works

Waterfront Brands reported $37,513 in plan administrative expenses for 2024: 0.37% of average plan assets, above the peer median. Employer contributions averaged $1,551 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 0.35% to 0.37%. The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other manufacturing employers. By assets it is among the smaller plans on file in Minnesota (1,260th of 1,918), and 8,438th of 13,661 in manufacturing. In 2024, employees put in $1.92 for every $1.00 the employer contributed; active participation has grown from 265 to 314 since 2022.

Plan summary
Net assets, end of year$10,814,733
Participants with balances377
Active participants314
Employer contributions$486,982
Employee contributions$936,090
Employer contribution per active participant$1,551
Average account balance$28,686
Benefits paid to participants$1,602,889
Plan auditUnmodified (clean) audit opinion
Plan history3
Yearassets · accounts · employer contribution
2024$10.8M · 377 accts · $487K emplr
2023$9.6M · 337 accts · $512K emplr
2022$7.8M · 283 accts · $423K emplr
Administrative expenses, itemized · 2024
Recordkeeping & contract admin$14,146
Investment management$23,367
Total administrative$37,513
The Waterfront Brands 401(k) match · 2024
Employer contribution per active participant$1,551
Median for plans this size$2,416
2024$1,551 per active participant
2023$1,772 per active participant
2022$1,597 per active participant

Waterfront Brands'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.

What these fees cost you

Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.

Service providers · 20242
GLOBAL RETIREMENT PARTNERS LLC · Investment advisory (plan)$23,367
FIDELITY INVESTMENTS INSTITUTIONAL · Loan processing$14,146

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

Administrative cost history3
2024$37,513 · 0.37%
2023$31,790 · 0.37%
2022$28,915 · 0.35%
Similar plansManufacturing · Minnesota
Goebel Fixture Company MN$10.9M · 0.45%
Sabrosura Foods, LLC MN$10.9M · 0.69%
QA1 Precision Products Inc MN$10.9M · 0.35%
Brown & Bigelow Inc. MN$10.9M · 0.34%
Lake Air Products LLC MN$10.7M · 1.57%
Riedell Shoes, Inc. MN$10.7M · 0.38%
Decimet Sales, Inc. MN$10.5M · 0.41%

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Source: U.S. Department of Labor, Form 5500 series, EIN 842055726 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.