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METSON OFFSHORE, INC. 401(K) PLAN & TRUST 401k Plan overview

Plan NameMETSON OFFSHORE, INC. 401(K) PLAN & TRUST
Plan identification number 001

METSON OFFSHORE, INC. 401(K) PLAN & TRUST Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • 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.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • 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.

401k Sponsoring company profile

METSON OFFSHORE, INC. has sponsored the creation of one or more 401k plans.

Company Name:METSON OFFSHORE, INC.
Employer identification number (EIN):880318098
NAIC Classification:483000
NAIC Description: Water Transportation

Additional information about METSON OFFSHORE, INC.

Jurisdiction of Incorporation: Nevada Department of State
Incorporation Date: 1994-04-29
Company Identification Number: 19941061066
Legal Registered Office Address: 9120 DOUBLE DIAMOND PKWY

RENO
United States of America (USA)
89521

More information about METSON OFFSHORE, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan METSON OFFSHORE, INC. 401(K) PLAN & TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012016-01-01
0012015-01-01

Plan Statistics for METSON OFFSHORE, INC. 401(K) PLAN & TRUST

401k plan membership statisitcs for METSON OFFSHORE, INC. 401(K) PLAN & TRUST

Measure Date Value
2016: METSON OFFSHORE, INC. 401(K) PLAN & TRUST 2016 401k membership
Total participants, beginning-of-year2016-01-01243
Total number of active participants reported on line 7a of the Form 55002016-01-01177
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-0150
Total of all active and inactive participants2016-01-01227
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-01227
Number of participants with account balances2016-01-01141
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-018
2015: METSON OFFSHORE, INC. 401(K) PLAN & TRUST 2015 401k membership
Total participants, beginning-of-year2015-01-01205
Total number of active participants reported on line 7a of the Form 55002015-01-01211
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-0132
Total of all active and inactive participants2015-01-01243
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-01243
Number of participants with account balances2015-01-01115
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-0118

Financial Data on METSON OFFSHORE, INC. 401(K) PLAN & TRUST

Measure Date Value
2016 : METSON OFFSHORE, INC. 401(K) PLAN & TRUST 2016 401k financial data
Total unrealized appreciation/depreciation of assets2016-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$15,601
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$0
Total income from all sources (including contributions)2016-12-31$641,482
Total loss/gain on sale of assets2016-12-31$0
Total of all expenses incurred2016-12-31$360,096
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2016-12-31$342,245
Value of total corrective distributions2016-12-31$15,601
Total contributions o plan (from employers,participants, others, non cash contrinutions)2016-12-31$415,722
Value of total assets at end of year2016-12-31$4,638,831
Value of total assets at beginning of year2016-12-31$4,341,844
Total of administrative expenses incurred including professional, contract, advisory and management fees2016-12-31$2,250
Total interest from all sources2016-12-31$3,180
Total dividends received (eg from common stock, registered investment company shares)2016-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2016-12-31No
Administrative expenses professional fees incurred2016-12-31$2,250
Was this plan covered by a fidelity bond2016-12-31Yes
Value of fidelity bond cover2016-12-31$500,000
If this is an individual account plan, was there a blackout period2016-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2016-12-31$0
Were there any nonexempt tranactions with any party-in-interest2016-12-31No
Contributions received from participants2016-12-31$332,070
Participant contributions at end of year2016-12-31$65,031
Participant contributions at beginning of year2016-12-31$44,235
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2016-12-31$15,601
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2016-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Value of net income/loss2016-12-31$281,386
Value of net assets at end of year (total assets less liabilities)2016-12-31$4,623,230
Value of net assets at beginning of year (total assets less liabilities)2016-12-31$4,341,844
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2016-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2016-12-31No
Were any leases to which the plan was party in default or uncollectible2016-12-31No
Value of interest in pooled separate accounts at end of year2016-12-31$3,597,512
Value of interest in pooled separate accounts at beginning of year2016-12-31$3,366,139
Interest on participant loans2016-12-31$2,664
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2016-12-31$516
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2016-12-31$892,636
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2016-12-31$874,823
Net investment gain/loss from registered investment companies (e.g. mutual funds)2016-12-31$222,580
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2016-12-31No
Was there a failure to transmit to the plan any participant contributions2016-12-31No
Has the plan failed to provide any benefit when due under the plan2016-12-31No
Contributions received in cash from employer2016-12-31$83,652
Employer contributions (assets) at end of year2016-12-31$83,652
Employer contributions (assets) at beginning of year2016-12-31$56,647
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2016-12-31$342,245
Did the plan have assets held for investment2016-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2016-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2016-12-31Yes
Opinion of an independent qualified public accountant for this plan2016-12-31Disclaimer
Accountancy firm name2016-12-31HOLTHOUSE CARLIN & VAN TRIGT LLP
Accountancy firm EIN2016-12-31954345526
2015 : METSON OFFSHORE, INC. 401(K) PLAN & TRUST 2015 401k financial data
Total unrealized appreciation/depreciation of assets2015-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-12-31$10,174
Total income from all sources (including contributions)2015-12-31$767,897
Total loss/gain on sale of assets2015-12-31$0
Total of all expenses incurred2015-12-31$1,118,573
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2015-12-31$1,115,587
Total contributions o plan (from employers,participants, others, non cash contrinutions)2015-12-31$816,288
Value of total assets at end of year2015-12-31$4,341,844
Value of total assets at beginning of year2015-12-31$4,702,694
Total of administrative expenses incurred including professional, contract, advisory and management fees2015-12-31$2,986
Total interest from all sources2015-12-31$4,091
Total dividends received (eg from common stock, registered investment company shares)2015-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2015-12-31No
Was this plan covered by a fidelity bond2015-12-31Yes
Value of fidelity bond cover2015-12-31$500,000
If this is an individual account plan, was there a blackout period2015-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2015-12-31$0
Were there any nonexempt tranactions with any party-in-interest2015-12-31No
Contributions received from participants2015-12-31$384,649
Participant contributions at end of year2015-12-31$44,235
Participant contributions at beginning of year2015-12-31$95,929
Income. Received or receivable in cash from other sources (including rollovers)2015-12-31$374,992
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2015-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2015-12-31$10,174
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-31No
Value of net income/loss2015-12-31$-350,676
Value of net assets at end of year (total assets less liabilities)2015-12-31$4,341,844
Value of net assets at beginning of year (total assets less liabilities)2015-12-31$4,692,520
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2015-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2015-12-31No
Were any leases to which the plan was party in default or uncollectible2015-12-31No
Value of interest in pooled separate accounts at end of year2015-12-31$3,366,139
Value of interest in pooled separate accounts at beginning of year2015-12-31$3,956,284
Interest on participant loans2015-12-31$3,245
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2015-12-31$846
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2015-12-31$874,823
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2015-12-31$565,115
Net investment gain/loss from registered investment companies (e.g. mutual funds)2015-12-31$-52,482
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2015-12-31No
Was there a failure to transmit to the plan any participant contributions2015-12-31No
Has the plan failed to provide any benefit when due under the plan2015-12-31No
Contributions received in cash from employer2015-12-31$56,647
Employer contributions (assets) at end of year2015-12-31$56,647
Employer contributions (assets) at beginning of year2015-12-31$85,366
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2015-12-31$1,115,587
Contract administrator fees2015-12-31$2,986
Did the plan have assets held for investment2015-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2015-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2015-12-31Yes
Opinion of an independent qualified public accountant for this plan2015-12-31Disclaimer
Accountancy firm name2015-12-31HOLTHOUSE CARLIN & VAN TRIGT LLP
Accountancy firm EIN2015-12-31954345526

Form 5500 Responses for METSON OFFSHORE, INC. 401(K) PLAN & TRUST

2016: METSON OFFSHORE, INC. 401(K) PLAN & TRUST 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Submission has been amendedNo
2016-01-01This submission is the final filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – InsuranceYes
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes
2015: METSON OFFSHORE, INC. 401(K) PLAN & TRUST 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingNo
2015-01-01This return/report is a short plan year return/report (less than 12 months)No
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – InsuranceYes
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

HARTFORD LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 88072 )
Policy contract number825505
Policy instance 1
Insurance contract or identification number825505
Number of Individuals Covered113
Insurance policy start date2015-01-01
Insurance policy end date2015-12-31
Total amount of commissions paid to insurance brokerUSD $18,124
Total amount of fees paid to insurance companyUSD $2,266
Are there contracts with allocated funds for individual policies?No
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?Yes
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?No
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $18,124
Amount paid for insurance broker fees0
Additional information about fees paid to insurance brokerCOMMISSIONS
Insurance broker organization code?5
Insurance broker nameTRUOG-RYDING COMPANY INC

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