Retirement plan

WELLMARK, INC. SAVINGS AND INVESTMENT PLAN

Name: WELLMARK, INC. - WELLMARK, INC. SAVINGS AND INVESTMENT PLAN (2023) 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 2023

1331 GRAND AVENUE - DES MOINES, IA 503092901515-376-4500wellmarkco.comLinkedIn51-200 employeesoil & energy

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)

$410.2M

+23.3% from 2022

Total participants

2,316

+2.9% from 2022

Average account balance

$177,560

+18.0% from 2022

Annual return

21.65%

+37.73 pp from 2022

Benchmarks

See 577 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort577 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$467.94M

Not enough data

1 years with asset history on file

Average account balance

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

$203K

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.

2,305

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.

99.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$32.04M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+16.45%

Not enough data

1 years with return on file

Admin fee / account holder

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

$92

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 2 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY2 years Service code 13 · EIN 42-0127290	Contract Administrator	$181,299
MERCER3 years Service code 10 · EIN 61-0736136	Accounting	$20,577

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3D3H

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

$202K

$104 / participant

Investment mgmt$21K10.2%
Contract admin$182K89.8%

% of EOY assets

0.049%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: KPMG, LLP
Auditor EIN: 135565207
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$177,560

$112,686+57.6%

$170,043+4.4%

$80,157+121.5%

Participation rate

99.7%

87.4%+12.3pp

87.0%+12.7pp

72.9%+26.8pp

Annual return

21.65%

67.04%-45.4pp

53.40%-31.8pp

40.39%-18.7pp

Employer contribution / active EE

$4,828

$4,481+7.7%

$6,790-28.9%

$2,977+62.1%

Participant deferral / active EE

$10,120

$7,876+28.5%

$10,410-2.8%

$5,015+101.8%

Admin fee / account holder

$88

$99-11.7%

$12,824-99.3%

$145-39.6%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY2 years

Service code 13 · EIN 42-0127290

Contract Administrator

$181,299

MERCER3 years

Service code 10 · EIN 61-0736136

Accounting

$20,577

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