Retirement plan

WEYDMAN ELECTRIC, INC. PROFIT SHARING PLAN

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

WEYDMAN ELECTRIC, INC.EIN 16-0803337Plan #004PY 2024

747 YOUNG STREET - TONAWANDA, NY 14150716-692-7667weydmanelectric.comLinkedIn11-50 employeesconstruction

Prospect flagsHigh assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$7.7M

+15.2% from 2023

Total participants

-27.3% from 2023

Average account balance

$967,937

+58.4% from 2023

Annual return

11.02%

-2.25 pp from 2023

Benchmarks

See 54,965 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort54,965 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.74M

Not enough data

1 years with asset history on file

Average account balance

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

$968K

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.

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.

133.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$279K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$46K

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

+11.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$-589

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 codes2E2F2J2T3D

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).
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

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Plan-level admin expenses are zero - fees are likely paid at the master-trust level rather than the individual plan.

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

$967,937

$111,814+765.7%

$103,374+836.3%

$145,959+563.2%

Participation rate

100.0%

77.9%+22.1pp

74.5%+25.5pp

80.3%+19.7pp

Annual return

11.02%

24.77%-13.7pp

24.89%-13.9pp

561.95%-550.9pp

Employer contribution / active EE

$44,999

$4,214+967.9%

$3,869+1063.0%

$4,661+865.5%

Participant deferral / active EE

$1,485

$5,618-73.6%

$5,058-70.6%

$6,689-77.8%

Admin fee / account holder

-$589

$9,754-106.0%

$8,394-107.0%

$13,398-104.4%

WEYDMAN ELECTRIC, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WEYDMAN ELECTRIC, 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