Retirement plan

MIDWEST WELL SERVICES, INC. 401(K) RETIREMENT PLAN

Name: MIDWEST WELL SERVICES, INC. - MIDWEST WELL SERVICES, INC. 401(K) RETIREMENT PLAN (2022) Form 5500
Creator: MIDWEST WELL SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIDWEST WELL SERVICES, INC. 401(K) RETIREMENT PLAN, MIDWEST WELL SERVICES, INC.

MIDWEST WELL SERVICES, INC.EIN 39-2005278Plan #001PY 2022

P.O. BOX 311 - WAUPUN, WI 53963920-324-3400

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$5.9M

-9.2% from 2021

Total participants

+8.3% from 2021

Average account balance

$121,000

-12.9% from 2021

Annual return

-19.53%

-46.89 pp from 2021

Benchmarks

See 17,350 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort17,350 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.41M

Not enough data

1 years with asset history on file

Average account balance

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

$142K

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.

107.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.11M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

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

+15.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$14017

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 codes2E2F2G2J2J2T3D3H

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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$272K

$6481 / participant

Other / not subdivided$272K100.0%

% of EOY assets

4.591%

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

$121,000

$64,706+87.0%

$112,244+7.8%

$68,498+76.6%

Participation rate

92.9%

67.1%+25.7pp

75.1%+17.8pp

67.9%+25.0pp

Annual return

-19.53%

-11.40%-8.1pp

27.46%-47.0pp

-7.84%-11.7pp

Employer contribution / active EE

$11,881

$2,746+332.7%

$3,635+226.9%

$2,596+357.6%

Participant deferral / active EE

$9,982

$3,565+180.0%

$4,728+111.1%

$4,027+147.8%

Admin fee / account holder

$5,555

$5,231+6.2%

$6,411-13.4%

$5,403+2.8%

MIDWEST WELL SERVICES, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIDWEST WELL SERVICES, INC. 401(K) RETIREMENT 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