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ALABAMA SHIPYARD, LLC 401(K) PLAN 401k Plan overview

Plan NameALABAMA SHIPYARD, LLC 401(K) PLAN
Plan identification number 001

ALABAMA SHIPYARD, LLC 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • Profit-sharing
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

ALABAMA SHIPYARD, LLC has sponsored the creation of one or more 401k plans.

Company Name:ALABAMA SHIPYARD, LLC
Employer identification number (EIN):842565302
NAIC Classification:336610

Form 5500 Filing Information

Submission information for form 5500 for 401k plan ALABAMA SHIPYARD, LLC 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01
0012022-01-01TIM DELONG2023-10-11
0012021-01-01
0012020-01-01

Financial Data on ALABAMA SHIPYARD, LLC 401(K) PLAN

Measure Date Value
2025 : ALABAMA SHIPYARD, LLC 401(K) PLAN 2025 401k financial data
Total expenses incurred by plan in this plan year2025-05-30212334
Net assets as of the end of the plan year2025-05-304273757
Total assets as of the beginning of the plan year2025-05-302891039
Value of plan covered by a fidelity bond2025-05-30500000
Participant contributions to plan in this plan year2025-05-30648845
Other expenses paid from plan in this plan year2025-05-3014967
Other contributions to plan in this plan year2025-05-30169561
Other income to plan in this plan year2025-05-30408914
Plan net income in this plan year2025-05-301382718
Net assets as of the end of the plan year2025-05-304273757
Net assets as of the beginning of the plan year2025-05-302891039
Employer contributions to plan in this plan year2025-05-30367732
Fees paid to broker by Benefit Provider2025-05-3044
2024 : ALABAMA SHIPYARD, LLC 401(K) PLAN 2024 401k financial data
Total liabilities as of the beginning of the plan year2024-04-220
Total expenses incurred by plan in this plan year2024-04-2289986
Net assets as of the end of the plan year2024-04-222891039
Total assets as of the beginning of the plan year2024-04-221818566
Value of plan covered by a fidelity bond2024-04-22500000
Participant contributions to plan in this plan year2024-04-22487531
Other contributions to plan in this plan year2024-04-22114596
Other income to plan in this plan year2024-04-22289506
Plan net income in this plan year2024-04-221072473
Net assets as of the end of the plan year2024-04-222891039
Net assets as of the beginning of the plan year2024-04-221818566
Employer contributions to plan in this plan year2024-04-22270826
Fees paid to broker by Benefit Provider2024-04-2272
Expensese paid to adminstrative service provicers from plan in this plan year2024-04-229558
2022 : ALABAMA SHIPYARD, LLC 401(K) PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total income from all sources (including contributions)2022-12-31$383,382
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$16,862
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$9,313
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$624,860
Value of total assets at end of year2022-12-31$1,818,566
Value of total assets at beginning of year2022-12-31$1,452,046
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$7,549
Total interest from all sources2022-12-31$1,750
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$181,857
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$415,760
Participant contributions at end of year2022-12-31$0
Participant contributions at beginning of year2022-12-31$11,696
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$62,828
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Income. Non cash contributions2022-12-31$0
Value of net income/loss2022-12-31$366,520
Value of net assets at end of year (total assets less liabilities)2022-12-31$1,818,566
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$1,452,046
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Value of interest in pooled separate accounts at end of year2022-12-31$500,722
Value of interest in pooled separate accounts at beginning of year2022-12-31$650,316
Interest earned on other investments2022-12-31$1,750
Value of interest in common/collective trusts at end of year2022-12-31$1,033,659
Value of interest in common/collective trusts at beginning of year2022-12-31$661,778
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2022-12-31$137,913
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2022-12-31$7,741
Net investment gain/loss from pooled separate accounts2022-12-31$-101,853
Net investment gain or loss from common/collective trusts2022-12-31$-141,375
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$146,272
Employer contributions (assets) at end of year2022-12-31$146,272
Employer contributions (assets) at beginning of year2022-12-31$120,515
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$9,313
Contract administrator fees2022-12-31$7,549
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31WARREN AVERETT, LLC
Accountancy firm EIN2022-12-31454084437
Total unrealized appreciation/depreciation of assets2022-01-01$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-01-01$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-01-01$0
Total income from all sources (including contributions)2022-01-01$383,382
Total loss/gain on sale of assets2022-01-01$0
Total of all expenses incurred2022-01-01$16,862
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-01-01$9,313
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-01-01$624,860
Value of total assets at end of year2022-01-01$1,818,566
Value of total assets at beginning of year2022-01-01$1,452,046
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-01-01$7,549
Total interest from all sources2022-01-01$1,750
Total dividends received (eg from common stock, registered investment company shares)2022-01-01$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-01-01No
Was this plan covered by a fidelity bond2022-01-01Yes
Value of fidelity bond cover2022-01-01$181,857
If this is an individual account plan, was there a blackout period2022-01-01No
Were there any nonexempt tranactions with any party-in-interest2022-01-01No
Contributions received from participants2022-01-01$415,760
Participant contributions at end of year2022-01-01$0
Participant contributions at beginning of year2022-01-01$11,696
Income. Received or receivable in cash from other sources (including rollovers)2022-01-01$62,828
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-01-01No
Income. Non cash contributions2022-01-01$0
Value of net income/loss2022-01-01$366,520
Value of net assets at end of year (total assets less liabilities)2022-01-01$1,818,566
Value of net assets at beginning of year (total assets less liabilities)2022-01-01$1,452,046
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-01-01No
Were any loans by the plan or fixed income obligations due to the plan in default2022-01-01No
Were any leases to which the plan was party in default or uncollectible2022-01-01No
Value of interest in pooled separate accounts at end of year2022-01-01$500,722
Value of interest in pooled separate accounts at beginning of year2022-01-01$650,316
Interest earned on other investments2022-01-01$1,750
Value of interest in common/collective trusts at end of year2022-01-01$1,033,659
Value of interest in common/collective trusts at beginning of year2022-01-01$661,778
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2022-01-01$137,913
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2022-01-01$7,741
Net investment gain/loss from pooled separate accounts2022-01-01$-101,853
Net investment gain or loss from common/collective trusts2022-01-01$-141,375
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-01-01No
Was there a failure to transmit to the plan any participant contributions2022-01-01No
Has the plan failed to provide any benefit when due under the plan2022-01-01No
Contributions received in cash from employer2022-01-01$146,272
Employer contributions (assets) at end of year2022-01-01$146,272
Employer contributions (assets) at beginning of year2022-01-01$120,515
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-01-01$9,313
Contract administrator fees2022-01-01$7,549
Did the plan have assets held for investment2022-01-01Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-01-01No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-01-01No
Opinion of an independent qualified public accountant for this plan2022-01-011
Accountancy firm name2022-01-01WARREN AVERETT, LLC
Accountancy firm EIN2022-01-01454084437

Form 5500 Responses for ALABAMA SHIPYARD, LLC 401(K) PLAN

2022: ALABAMA SHIPYARD, LLC 401(K) PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number724167
Policy instance 2
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number613953
Policy instance 1

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