# Ocean Health Initiatives, INC. 401(k) Plan
Source: https://planprovider.pro/companies/ocean-health-initiatives-inc-401k-plan

> Ocean Health Initiatives, INC.'s 401(k) plan: 132 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Ocean Health Initiatives, INC.

- **Sponsor EIN:** 061691342

- **Sponsor Address:** 101 2ND STREET, LAKEWOOD, NJ, 08701

- **Plan Type:** 401(k)

- **Total Participants:** 132

- **Total Assets:** $8.5M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** Yes

- **Participant Loans:** No

- **Participant-Directed Investments:** Yes

- **ERISA Section 404(c) Fiduciary Safe Harbor:** Yes

## Plan Financials by Year

| Year|Participants|Total Assets|Employer Contrib.|Employee Contrib.|

| 2024|132|$8.5M|$244,278|$700,155|

| 2023|176|$8.0M|$302,578|$817,126|

| 2022|215|$6.7M|$300,017|$835,736|

## Service Providers (Schedule C)

Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).

| Provider Name|
Role|
Direct Compensation|
Indirect Compensation|
Total Fees|

| WITHUM SMITH BROWN|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [WITHUM SMITH BROWN](https://planprovider.pro/provider/withumsmithbrown-pc) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $0

### Historical Administrative Expenses

Breakdown of administrative expense categories reported on Form 5500 filings.

| Year|
Total Admin Expenses|
Investment Mgmt Fees|
Contract Admin Fees|
IQPA Audit Fees|
Professional Fees|

| 2024|$68,402|$23,345|—|—|—|

| 2023|$67,554|$20,977|—|—|—|

| 2022|$81,676|—|—|—|—|

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