Retirement plan

WEG TRANSFORMERS USA, LLC 401(K) PLAN

Name: WEG TRANSFORMERS USA, LLC - WEG TRANSFORMERS USA, LLC 401(K) PLAN (2024) Form 5500
Creator: WEG TRANSFORMERS USA, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WEG TRANSFORMERS USA, LLC 401(K) PLAN, WEG TRANSFORMERS USA, LLC

WEG TRANSFORMERS USA, LLCEIN 14-1799233Plan #003PY 2024

6350 BLUFF ROAD, ATTN HR - WASHINGTON, MO 63090636-239-9351weg.usLinkedIn501-1000 employeeselectrical/electronic manufacturing

Prospect flagsHigh feesFailed to transmit contributions

Top hat statement on fileNQDC

Filed October 11, 2014

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$15.9M

+8.5% from 2023

Total participants

235

+0.9% from 2023

Average account balance

$69,000

+5.2% from 2023

Annual return

11.85%

-3.34 pp from 2023

Benchmarks

See 210 peers

Peer group

Industry22 - Utilities

Plan typeDefined contribution

Participants100-249

Cohort210 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$15.94M

Not enough data

1 years with asset history on file

Average account balance

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

$69K

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.

231

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.

97.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.67M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+11.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$300

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 6 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290	Contract Administrator	$67,293
LPL FINANCIAL7 years Filed as: LPL FINANCIAL LLC Service code 49 · EIN 95-2834236	Other Services	$27,229
TEAL, BECKER & CHIARAMONTE CPAS PC10+ years Filed as: TEAL BECKER & CHIARAMONTE CPAS PC Service code 13	Contract Administrator	$7,562
TEAL, BECKER & CHIARAMONTE CPAS PC3 years Filed as: TEAL BECKER & CHIARAMONTE, CPAS PC Service code 13 · EIN 14-1624930	Contract Administrator	$450
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381	Advisory (Participants)	$0
WILSHIRE ASSOCIATES INCORPORATED3 years Filed as: WILSHIRE ADVISORS LLC Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$69K

$413 / participant

Contract admin$69K100.0%

% of EOY assets

0.435%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: SIKICH CPA LLC
Auditor EIN: 541172176
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$69,000

$113,016-38.9%

$103,476-33.3%

$74,495-7.4%

Participation rate

97.6%

80.8%+16.9pp

80.5%+17.1pp

67.2%+30.4pp

Annual return

11.85%

23.24%-11.4pp

23.90%-12.1pp

1364.94%-1353.1pp

Employer contribution / active EE

$3,204

$4,881-34.4%

$4,672-31.4%

$2,623+22.2%

Participant deferral / active EE

$6,736

$7,279-7.5%

$6,623+1.7%

$4,346+55.0%

Admin fee / account holder

$300

$1,709-82.4%

$9,413-96.8%

$1,942-84.5%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY10+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$67,293

LPL FINANCIAL7 years

Filed as: LPL FINANCIAL LLC

Service code 49 · EIN 95-2834236

Other Services

$27,229

TEAL, BECKER & CHIARAMONTE CPAS PC10+ years

Filed as: TEAL BECKER & CHIARAMONTE CPAS PC

Service code 13

Contract Administrator

$7,562

TEAL, BECKER & CHIARAMONTE CPAS PC3 years

Filed as: TEAL BECKER & CHIARAMONTE, CPAS PC

Service code 13 · EIN 14-1624930

Contract Administrator

$450

MORNINGSTAR1 year

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L

Service code 26 · EIN 36-4317381

Advisory (Participants)

WILSHIRE ASSOCIATES INCORPORATED3 years

Filed as: WILSHIRE ADVISORS LLC

Service code 27 · EIN 95-2755361

Advisory (Plan)

WEG TRANSFORMERS USA, LLC 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WEG TRANSFORMERS USA, LLC 401(K) PLAN

Top hat statement on fileNQDC

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