Retirement plan

WITMER'S INC. 401(K) AND PROFIT SHARING PLAN

Name: WITMERS INC. - WITMER'S INC. 401(K) AND PROFIT SHARING PLAN (2024) Form 5500
Creator: WITMERS INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WITMER'S INC. 401(K) AND PROFIT SHARING PLAN, WITMERS INC.

WITMERS INC.EIN 34-1016582Plan #001PY 2024

39821 SALEM UNITY ROAD - SALEM, OH 44460330-427-2611LinkedIn11-50 employeesmachinery

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$793K

-23.9% from 2023

Total participants

0.0% from 2023

Average account balance

$88,065

-15.4% from 2023

Annual return

10.57%

-4.50 pp from 2023

Benchmarks

See 54,915 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort54,915 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$964K

Not enough data

1 years with asset history on file

Average account balance

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

$88K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$73K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+15.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3051

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 codes2E2J2F2G3D2T

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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$427K

$38815 / participant

Other / not subdivided$427K100.0%

% of EOY assets

53.870%

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

$88,065

$111,814-21.2%

$103,378-14.8%

$145,978-39.7%

Participation rate

72.7%

77.9%-5.2pp

74.5%-1.8pp

80.3%-7.6pp

Annual return

10.57%

24.80%-14.2pp

24.91%-14.3pp

550.52%-539.9pp

Employer contribution / active EE

$1,740

$4,215-58.7%

$3,870-55.0%

$4,662-62.7%

Participant deferral / active EE

$3,456

$5,618-38.5%

$5,058-31.7%

$6,690-48.3%

Admin fee / account holder

$47,441

$9,764+385.9%

$8,401+464.7%

$13,400+254.0%

WITMER'S INC. 401(K) AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WITMER'S INC. 401(K) AND 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