Washington › Transportation and warehousing › 250 to 499 participants
Form 5500 statement · plan year 1 Nov 2024 to 31 Oct 2025
Foss Maritime Company Pension Plan
Sponsored by Foss Maritime Company, LLC, Seattle, WA
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
In the plan year ending 31 Oct 2025, Foss Maritime Company Pension Plan covered 273 participants and held $27.5M in net assets. The plan is a defined benefit pension plan sponsored by Foss Maritime Company, LLC of Seattle, Washington.
Net assets came to $100,595 per participant, above the $87,254 median for defined benefit plans with 250 to 499 participants and above the $94,853 median for defined benefit plans in transportation and warehousing. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
Employer contributions were $1.1M for the year ($216,276 per active participant) and benefits paid were $2.7M. In a defined benefit plan the employer's contribution follows funding rules rather than a match formula, so it can swing widely from year to year.
Schedule C lists 5 service provider organisations paid $5,000 or more, with reported compensation of $158K: $580 per participant, well above the same-size median of $413. Administrative expenses charged to the plan were $381K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $44.7M in 2013 to $27.5M in 2024 (down 39%), and participants from 426 to 273 (down 36%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $100,595 | $87,254 | $94,853 | $86,221 |
| Employer contributions per active participant | $216,276 | $11,032 | $12,821 | $10,244 |
| Schedule C compensation per participant | $580 | $413 | $425 | $344 |
| Schedule C compensation, share of net assets | 0.58% | 0.51% | 0.43% | 0.42% |
| Administrative expenses per participant | $1,397 | $596 | $650 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 250 to 499 participants (873 plans), transportation and warehousing (227) and all US plans (5,308). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 273 | $27.5M | $100,593 | $1.1M | — | $158K |
| 2023 | 277 | $27.3M | $98,621 | $66K | — | $195K |
| 2022 | 281 | $25.6M | $90,996 | — | — | $198K |
| 2021 | 289 | $28.5M | $98,647 | — | — | $203K |
| 2020 | 292 | $40.2M | $137,675 | — | — | $283K |
| 2019 | 295 | $41.4M | $140,186 | — | — | $295K |
| 2018 | 296 | $41.2M | $139,233 | — | — | $333K |
| 2017 | 299 | $36.8M | $123,181 | — | — | $322K |
| 2016 | 336 | $43.3M | $128,744 | $370K | — | $339K |
| 2015 | 415 | $46.5M | $112,113 | $0 | — | $285K |
| 2014 | 420 | $45.7M | $108,921 | $3.3M | — | $316K |
| 2013 | 426 | $44.7M | $104,831 | $2.9M | — | $367K |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$27,318,445
- Employer contributions$1,081,380
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$1,081,380
- Total income, including investment results$3,268,081
- Benefits paid$2,742,851
- Administrative expenses$381,261
- Total expenses$3,124,112
- Net income$143,969
- Net transfers$0
- Net assets, end of year$27,462,414
Participants
- Active participants5
- Retired or separated, receiving benefits185
- Retired or separated, entitled to future benefits47
- Total participants, end of year273
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Willis Towers Watson US LLC | Actuarial; Consulting (pension) | $63,285 | $0 |
| Towers Watson Investment SVCS, Inc. | Investment management | $46,242 | $0 |
| Bank of New York Mellon | Trustee (bank, trust company, or similar financial institution) | $25,000 | $0 |
| USI Consulting Group, Inc. | Plan Administrator; Recordkeeping and information management | $16,689 | $0 |
| L&G Investment Management America | Investment management | $7,044 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Other administrative expenses$218,789
- Actuarial fees$63,285
- Investment advisory and management fees$53,286
- Trustee and custodial fees$25,000
- Recordkeeping fees$16,689
- Legal fees$4,212
- Total administrative expenses$381,261
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Common/collective trusts$27.1M · 98.6%
- Receivables$383K · 1.4%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmHagen, Kurth, Perman & Co.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $5,000,000
- Blackout period during the year—
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
1ABenefits are primarily pay related1IFrozen plan3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 483000: Water Transportation.
Similar plans in Washington
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Alaska Airlines, Inc., Fixed Income Retirement Plan for Pilots | Alaska Airlines, Inc. | 1,761 | $1.21B | $688,451 |
| Tidewater Barge Lines, Inc. Employee Retirement Plan | Tidewater Barge Lines, Inc. | 156 | $15.8M | $101,307 |
| Alaska Airlines, Inc. Retirement Plan for Salaried Employees | Alaska Airlines, Inc. | 1,816 | $329M | $180,982 |
| Alaska Airlines, Inc., Retirement Plan for Mechanics & Related Crafts Employees | Alaska Airlines, Inc. | 2,062 | $257M | $124,524 |
| Alaska Airlines, Inc., Retirement Plan for Clerical Office & PSGR Service Employees | Alaska Airlines, Inc. | 3,617 | $241M | $66,610 |
| Ibt Consolidated Pension Plan | BD of Trustees of Ibt Consolidated Pension Fund | 4,798 | $180M | $37,569 |
Defined benefit plans in transportation and warehousing closest in size.
Questions and answers
How big is Foss Maritime Company Pension Plan?
273 participants at the end of the plan year ending 31 Oct 2025, of whom 5 were active employees, with net assets of $27,462,414. Among defined benefit plans that places it in the 250 to 499 participants band, which held 873 plans in plan year 2024.
What does Foss Maritime Company, LLC contribute per participant?
The filing reports $1,081,380 in employer contributions for the year, which is $216,276 per active participant; the median for plans of the same type and size was $11,032 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $158,260 in compensation to service provider organisations, $580 per participant or 0.58% of net assets. The same-size median among plans reporting any Schedule C compensation was $413 per participant. Administrative expenses on Schedule H were $381,261. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Foss Maritime Company, LLC. Recordkeeping or administration: USI Consulting Group, Inc.. Investment advisory or management: Towers Watson Investment SVCS, Inc. and L&G Investment Management America. Trustee or custodian: Bank of New York Mellon. The financial statements were audited by Hagen, Kurth, Perman & Co.. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Nov 2024 to 31 Oct 2025, received by the Department of Labor on 17 Aug 2026. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 91-0859023, plan 006, received 17 Aug 2026; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.