Retirement plan

WELLMARK, INC. SAVINGS AND INVESTMENT PLAN

Name: WELLMARK, INC. - WELLMARK, INC. SAVINGS AND INVESTMENT PLAN (2021) Form 5500
Creator: WELLMARK, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WELLMARK, INC. SAVINGS AND INVESTMENT PLAN, WELLMARK, INC.

WELLMARK, INC.EIN 42-0318333Plan #002PY 2021

1331 GRAND AVENUE - DES MOINES, IA 503092502515-376-4500wellmarkco.comLinkedIn51-200 employeesoil & energy

Other plans on this EIN

1 filing

#001Retirement-$380.9M assets

Prospect flagsCorrective distributions

Top hat statement on fileNQDC

Filed January 6, 2022 (most recent of 3 filings on file)

Plan administrator

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1331 Grand Avenue, Station 5W615

Des Moines, IA 50309

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Plans declared (4)

Wellmark, Inc. Senior Leadership Team Long-Term Incentive Compensation Plan8 emp
Wellmark, Inc. Vice Presidents Long-Term Incentive Compensation Plan22 emp
Wellmark, Inc. Nonqualified Deferred Compensation Plan100 emp
Wellmark, Inc. Nonqualified Deferred Compensation Plan for Directors9 emp

Total covered: 139 employees

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Total assets (EOY)

$405.9M

-8.8% from 2016

Total participants

2,217

+0.8% from 2016

Average account balance

$183,102

-8.5% from 2016

Annual return

16.54%

-6.37 pp from 2016

Benchmarks

See 543 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort543 peers

Snapshot2021

Participant deferral / active EE

$8,760

median $6,641

Employer contribution / active EE

$3,691

median $3,115

Participation rate

100.0%

median 95.9%

Avg account balance

$183,102

median $95,463

Admin fee / account holder

$24

median $84

Annual return

16.54%

median 16.50%

Overall peer rank

70of 100

70th percentileavg across 6 metrics

Analytics

2015 - 2024

Total assets (EOY)

Plan-year ending balance

$467.94M

Average account balance

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

$203K

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

2,305

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

99.5%

Contributions (total)

Employer and participant dollars contributed each year

$32.04M

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+16.45%

Admin fee / account holder

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

$92

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Mutual / pooled
Stocks
Bonds
Cash
Real estate
Loans

Service providers

Top 4 by compensation

Provider	Service type	Compensation
MERCER1 year Service code 10 · EIN 61-0736136	Accounting	$20,000
PRUDENTIAL RETIREMENT INSURANCE AND7+ years Filed as: PRUDENTIAL INVESTMENT MANAGEMENT SE Service code 63 · EIN 13-4122960	12b-1 Fees	$16,077
PRUDENTIAL RETIREMENT INSURANCE AND7+ years Service code 14 · EIN 06-1050034	Plan Administrator	$12,547
NATIONAL FINANCIAL SERVICES1 year Filed as: NATIONAL FINANCIAL SERVICES, LLC Service code 15 · EIN 04-3523567	Recordkeeping	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3H3D

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.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$52K

$29 / participant

Other / not subdivided$52K100.0%

% of EOY assets

0.013%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: RSM US LLP
Auditor EIN: 420714325
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$183,102

$118,337+54.7%

$189,534-3.4%

$93,010+96.9%

Participation rate

100.0%

89.1%+10.9pp

87.8%+12.2pp

73.9%+26.1pp

Annual return

16.54%

21.77%-5.2pp

555.39%-538.8pp

158.70%-142.2pp

Employer contribution / active EE

$3,691

$4,204-12.2%

$6,162-40.1%

$2,705+36.5%

Participant deferral / active EE

$8,760

$7,123+23.0%

$8,220+6.6%

$4,561+92.1%

Admin fee / account holder

$24

$100-76.3%

$12,049-99.8%

$152-84.4%

Provider

Service type

Compensation

MERCER1 year

Service code 10 · EIN 61-0736136

Accounting

$20,000

PRUDENTIAL RETIREMENT INSURANCE AND7+ years

Filed as: PRUDENTIAL INVESTMENT MANAGEMENT SE

Service code 63 · EIN 13-4122960

12b-1 Fees

$16,077

PRUDENTIAL RETIREMENT INSURANCE AND7+ years

Service code 14 · EIN 06-1050034

Plan Administrator

$12,547

NATIONAL FINANCIAL SERVICES1 year

Filed as: NATIONAL FINANCIAL SERVICES, LLC

Service code 15 · EIN 04-3523567

Recordkeeping

WELLMARK, INC. SAVINGS AND INVESTMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (4)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WELLMARK, INC. SAVINGS AND INVESTMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (4)

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