Retirement plan

WARD PROCESS, INC. PROFIT SHARING PLAN

Name: WARD PROCESS, INC. - WARD PROCESS, INC. PROFIT SHARING PLAN (2024) Form 5500
Creator: WARD PROCESS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WARD PROCESS, INC. PROFIT SHARING PLAN, WARD PROCESS, INC.

WARD PROCESS, INC.EIN 04-2314927Plan #001PY 2024

311 HOPPING BROOK ROAD - HOLLISTON, MA 017461308508-429-1165

Prospect flagsHigh feesRecently reached 100 employees

How to read this page

Total assets (EOY)

$8.5M

+17.8% from 2023

Total participants

102

+6.3% from 2023

Average account balance

$82,874

-3.0% from 2023

Annual return

13.73%

-1.15 pp from 2023

Benchmarks

See 5,395 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort5,395 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$8.45M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$83K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

102

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

192.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$326K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+13.73%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$740

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$75K

$1424 / participant

Other / not subdivided$75K100.0%

% of EOY assets

0.893%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$82,874

$87,132-4.9%

$105,624-21.5%

$80,959+2.4%

Participation rate

100.0%

70.4%+29.6pp

75.3%+24.7pp

67.7%+32.3pp

Annual return

13.73%

17.03%-3.3pp

116.20%-102.5pp

35.67%-21.9pp

Employer contribution / active EE

$3,649

$2,397+52.3%

$3,168+15.2%

$2,757+32.4%

Participant deferral / active EE

$2,510

$3,985-37.0%

$5,013-49.9%

$4,300-41.6%

Admin fee / account holder

$740

$8,449-91.2%

$10,961-93.2%

$6,925-89.3%

WARD PROCESS, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WARD PROCESS, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion