Retirement plan

WEST SIDE ELECTRICAL SERVICE, INC. PROFIT SHARING PLAN

Name: WEST SIDE ELECTRICAL SERVICE, INC. - WEST SIDE ELECTRICAL SERVICE, INC. PROFIT SHARING PLAN (2021) Form 5500
Creator: WEST SIDE ELECTRICAL SERVICE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WEST SIDE ELECTRICAL SERVICE, INC. PROFIT SHARING PLAN, WEST SIDE ELECTRICAL SERVICE, INC.

WEST SIDE ELECTRICAL SERVICE, INC.EIN 23-1685357Plan #002PY 2021

1325 CLAY STREET - BETHLEHEM, PA 18018610-868-3535LinkedIn11-50 employeesconstruction

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$3.6M

+20.1% from 2020

Total participants

-10.5% from 2020

Average account balance

$116,300

+31.7% from 2020

Annual return

12.45%

+5.63 pp from 2020

Benchmarks

See 44,693 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort44,693 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

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

Not enough data

0 years with headcount on file

Eligible Participants and Participation

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

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$35K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+0.89%

Not enough data

1 years with return on file

Admin fee / account holder

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

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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$122K

$7165 / participant

Other / not subdivided$122K100.0%

% of EOY assets

3.379%

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

$116,300

$124,351-6.5%

$109,188+6.5%

$167,553-30.6%

Participation rate

82.4%

79.4%+2.9pp

75.9%+6.5pp

82.1%+0.2pp

Annual return

12.45%

26.04%-13.6pp

25.76%-13.3pp

478.89%-466.4pp

Employer contribution / active EE

$8,824

$4,210+109.6%

$3,723+137.0%

$4,840+82.3%

Participant deferral / active EE

$11,831

$5,257+125.1%

$4,654+154.2%

$6,343+86.5%

Admin fee / account holder

$3,929

$7,975-50.7%

$6,755-41.8%

$12,316-68.1%

WEST SIDE ELECTRICAL SERVICE, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WEST SIDE ELECTRICAL SERVICE, 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