Retirement plan

WIGGINS KICK IT BACK 401(K) RETIREMENT SAVINGS PLAN

Name: WIGGINS SHREDDING, INC. - WIGGINS KICK IT BACK 401(K) RETIREMENT SAVINGS PLAN (2023) Form 5500
Creator: WIGGINS SHREDDING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WIGGINS KICK IT BACK 401(K) RETIREMENT SAVINGS PLAN, WIGGINS SHREDDING, INC.

WIGGINS SHREDDING, INC.EIN 26-4203118Plan #001PY 2023

908 OLD FERN HILL RD. - WEST CHESTER, PA 19380610-692-2441wigginsshredding.comLinkedIn11-50 employeesconsumer services

Prospect flagsHigh feesLow assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$194K

+133.5% from 2022

Total participants

+33.3% from 2022

Average account balance

$10,765

+81.6% from 2022

Annual return

32.16%

+32.16 pp from 2022

Benchmarks

See 23,814 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,814 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$352K

Not enough data

1 years with asset history on file

Average account balance

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

$19K

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.

79.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$126K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+19.59%

Not enough data

1 years with return on file

Admin fee / account holder

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

$438

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 codes2E2J2F2G3D3H2T

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.
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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

$8K

$431 / participant

Other / not subdivided$8K100.0%

% of EOY assets

4.002%

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

$10,765

$154,193-93.0%

$130,045-91.7%

$139,466-92.3%

Participation rate

88.9%

82.0%+6.9pp

78.5%+10.4pp

80.3%+8.6pp

Annual return

32.16%

32.51%-0.4pp

-137.30%+169.5pp

373.66%-341.5pp

Employer contribution / active EE

$1,591

$5,292-69.9%

$4,321-63.2%

$4,754-66.5%

Participant deferral / active EE

$3,437

$6,709-48.8%

$5,820-40.9%

$6,712-48.8%

Admin fee / account holder

$431

$13,989-96.9%

$10,600-95.9%

$11,409-96.2%

WIGGINS KICK IT BACK 401(K) RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WIGGINS KICK IT BACK 401(K) RETIREMENT SAVINGS 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