Retirement plan

WANNER ENGINEERING, INC. 401(K) PLAN

Name: WEC, INC. - WANNER ENGINEERING, INC. 401(K) PLAN (2024) Form 5500
Creator: WEC, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WANNER ENGINEERING, INC. 401(K) PLAN, WEC, INC.

WEC, INC.EIN 41-1405153Plan #001PY 2024

1204 CHESTNUT AVENUE - MINNEAPOLIS, MN 55403612-313-7813

Prospect flagsLow returnsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$23.6M

+5.4% from 2023

Total participants

200

-19.0% from 2023

Average account balance

$127,484

+33.3% from 2023

Annual return

10.35%

-4.58 pp from 2023

Benchmarks

See 4,106 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,106 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$23.58M

Not enough data

1 years with asset history on file

Average account balance

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

$127K

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.

185

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.

89.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.61M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+10.35%

Not enough data

1 years with return on file

Admin fee / account holder

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

$576

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

1 years with F_SCH_H allocation on file

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
LINCOLN NATIONAL CORPORATION2 years Service code 13 · EIN 35-1140070	Contract Administrator	$48,394
MERRILL LYNCH PIERCE FENNER & SMITH7 years Filed as: MERRILL LYNCH, PIERCE, FENNER & SMI Service code 27 150 N. COLLEGE STREET · CHARLOTTE, NC 28255	Advisory (Plan)	$45,105
ASCENSUS LLC4 years Filed as: FUTUREPLAN BY ASCENSUS Service code 15 · EIN 82-3719843	Recordkeeping	$9,833
GOLDLEAF PARTNERS1 year Filed as: GOLDLEAF PARTNERS EMPLOYER SERVICES Service code 15 · EIN 82-3719843	Recordkeeping	$3,314

Plan features & details

Pension benefit codes2A2E2J2K2F2G3D3H2T2X

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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 returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$107K

$741 / participant

Contract admin$107K100.0%

% of EOY assets

0.452%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: EISNERAMPER, LLP
Auditor EIN: 871363769
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$127,484

$79,171+61.0%

$102,423+24.5%

$74,495+71.1%

Participation rate

89.6%

74.8%+14.8pp

76.5%+13.1pp

67.2%+22.4pp

Annual return

10.35%

54.93%-44.6pp

29.32%-19.0pp

1364.94%-1354.6pp

Employer contribution / active EE

$3,240

$2,362+37.1%

$3,023+7.2%

$2,623+23.5%

Participant deferral / active EE

$7,964

$4,415+80.4%

$5,053+57.6%

$4,346+83.3%

Admin fee / account holder

$576

$2,001-71.2%

$9,451-93.9%

$1,942-70.3%

Provider

Service type

Compensation

LINCOLN NATIONAL CORPORATION2 years

Service code 13 · EIN 35-1140070

Contract Administrator

$48,394

MERRILL LYNCH PIERCE FENNER & SMITH7 years

Filed as: MERRILL LYNCH, PIERCE, FENNER & SMI

Service code 27

150 N. COLLEGE STREET · CHARLOTTE, NC 28255

Advisory (Plan)

$45,105

ASCENSUS LLC4 years

Filed as: FUTUREPLAN BY ASCENSUS

Service code 15 · EIN 82-3719843

Recordkeeping

$9,833

GOLDLEAF PARTNERS1 year

Filed as: GOLDLEAF PARTNERS EMPLOYER SERVICES

Service code 15 · EIN 82-3719843

Recordkeeping

$3,314

WANNER ENGINEERING, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WANNER ENGINEERING, INC. 401(K) 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