Retirement plan

W&L SPORTS CARS, INC. 401(K) PROFIT SHARING PLAN

Name: W&L SPORTS CARS, INC. - W&L SPORTS CARS, INC. 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: W&L SPORTS CARS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, W&L SPORTS CARS, INC. 401(K) PROFIT SHARING PLAN, W&L SPORTS CARS, INC.

W&L SPORTS CARS, INC.EIN 23-1667202Plan #001PY 2022

535 POINT TOWNSHIP DRIVE - NORTHUMBERLAND, PA 17857570-473-3432LinkedIn51-200 employeesretail

Prospect flagsLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$2.6M

+9.6% from 2021

Total participants

141

+6.8% from 2021

Average account balance

$42,442

+6.0% from 2021

Annual return

-8.09%

-30.17 pp from 2021

Benchmarks

See 2,205 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,205 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.99M

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.

156

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.

104.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$858K

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

+19.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2974

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 codes2E2F2J2T3D3H

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WITHUMSMITH+BROWN, PC
Auditor EIN: 222027092
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$42,442

$49,451-14.2%

$79,576-46.7%

$66,930-36.6%

Participation rate

40.7%

61.3%-20.6pp

69.5%-28.7pp

69.8%-29.1pp

Annual return

-8.09%

84.25%-92.3pp

0.15%-8.2pp

1.57%-9.7pp

Employer contribution / active EE

$1,715

$1,266+35.5%

$2,413-28.9%

$2,545-32.6%

Participant deferral / active EE

$2,994

$3,159-5.2%

$3,985-24.9%

$4,238-29.4%

Admin fee / account holder

$595-100.0%

$6,834-100.0%

$593-100.0%

W&L SPORTS CARS, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

W&L SPORTS CARS, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion