Retirement plan

WESTERN STATES MINERALS CORPORATION MONEY PURCHASE PENSION PLAN

Name: WESTERN STATES MINERALS CORPORATION - WESTERN STATES MINERALS CORPORATION MONEY PURCHASE PENSION PLAN (2023) Form 5500
Creator: WESTERN STATES MINERALS CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WESTERN STATES MINERALS CORPORATION MONEY PURCHASE PENSION PLAN, WESTERN STATES MINERALS CORPORATION

WESTERN STATES MINERALS CORPORATIONEIN 41-1270252Plan #002PY 2023

217 IDAHO STREET - ELKO, NV 89801775-738-9881

Other plans on this EIN

1 filing

#003Retirement-$481K assets

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$645K

+0.9% from 2022

Total participants

-16.7% from 2022

Average account balance

$161,254

+26.1% from 2022

Annual return

14.24%

+30.94 pp from 2022

Benchmarks

See 1,613 peers

Peer group

Industry21 - Mining, Quarrying, and Oil and Gas Extraction

Plan typeDefined contribution

Participants<25

Cohort1,613 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$174K

Not enough data

1 years with asset history on file

Average account balance

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

$58K

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.

300.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+2.77%

Not enough data

1 years with return on file

Admin fee / account holder

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

$164193

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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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 codes2C2F2G2T3D3H

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit 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.
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.
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

$90K

$89854 / participant

Other / not subdivided$90K100.0%

% of EOY assets

13.930%

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: -

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$161,254

$192,717-16.3%

$142,449+13.2%

$139,434+15.6%

Participation rate

0.0%

81.5%-81.5pp

76.8%-76.8pp

80.3%-80.3pp

Annual return

14.24%

17.99%-3.8pp

19.99%-5.8pp

372.94%-358.7pp

Employer contribution / active EE

$4,468

$5,806-23.0%

$4,847-7.8%

$4,751-6.0%

Participant deferral / active EE

$7,208-100.0%

$6,283-100.0%

$6,710-100.0%

Admin fee / account holder

$22,464

$15,124+48.5%

$10,011+124.4%

$11,403+97.0%

WESTERN STATES MINERALS CORPORATION MONEY PURCHASE PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WESTERN STATES MINERALS CORPORATION MONEY PURCHASE PENSION 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