Retirement plan

WHITMORE WORSLEY, INC. 401(K) PROFIT SHARING PLAN

Name: WHITMORE WORSLEY, INC. - WHITMORE WORSLEY, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: WHITMORE WORSLEY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WHITMORE WORSLEY, INC. 401(K) PROFIT SHARING PLAN, WHITMORE WORSLEY, INC.

WHITMORE WORSLEY, INC.EIN 11-1571994Plan #002PY 2024

4 HARDSCRABBLE COURT - EAST HAMPTON, NY 11937631-329-8077LinkedIn11-50 employees

Prospect flagsLow returnsLow participationLow employer contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$4.3M

+13.6% from 2023

Total participants

188

+10.6% from 2023

Average account balance

$37,793

+13.6% from 2023

Annual return

8.16%

-1.84 pp from 2023

Benchmarks

See 575 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants100-249

Cohort575 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.31M

Not enough data

1 years with asset history on file

Average account balance

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

$38K

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.

114

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.

43.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$223K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+8.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$167

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

1 years with F_SCH_H allocation on file

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH5 years Service code 17 · EIN 13-5674085	Pension Consulting	$9,843
PRINCIPAL LIFE INSURANCE COMPANY4 years Service code 13 · EIN 42-0127290	Contract Administrator	$9,036
WILSHIRE ASSOCIATES INCORPORATED2 years Filed as: WILSHIRE ADVISORS Service code 27	Advisory (Plan)	$0
WILSHIRE ASSOCIATES INCORPORATED2 years Filed as: WILSHIRE ADVISORS LLC Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2A2E2J2K2F2G3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
2K
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 contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$19K

$146 / participant

Contract admin$19K100.0%

% of EOY assets

0.441%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CBIZ CPAS P.C.
Auditor EIN: 431947695
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,793

$62,393-39.4%

$120,580-68.7%

$74,478-49.3%

Participation rate

43.1%

56.8%-13.7pp

72.0%-28.9pp

67.2%-24.1pp

Annual return

8.16%

18.61%-10.4pp

107.48%-99.3pp

1370.56%-1362.4pp

Employer contribution / active EE

$74

$1,845-96.0%

$3,469-97.9%

$2,626-97.2%

Participant deferral / active EE

$1,638

$2,886-43.2%

$4,995-67.2%

$4,350-62.3%

Admin fee / account holder

$167

$2,396-93.0%

$9,418-98.2%

$1,946-91.4%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH5 years

Service code 17 · EIN 13-5674085

Pension Consulting

$9,843

PRINCIPAL LIFE INSURANCE COMPANY4 years

Service code 13 · EIN 42-0127290

Contract Administrator

$9,036

WILSHIRE ASSOCIATES INCORPORATED2 years

Filed as: WILSHIRE ADVISORS

Service code 27

Advisory (Plan)

WILSHIRE ASSOCIATES INCORPORATED2 years

Filed as: WILSHIRE ADVISORS LLC

Service code 27 · EIN 95-2755361

Advisory (Plan)

WHITMORE WORSLEY, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WHITMORE WORSLEY, INC. 401(K) 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