Retirement plan

WEBBER METAL PRODUCTS, INC. 401(K) PROFIT SHARING TRUST

Name: WEBBER METAL PRODUCTS, INC. - WEBBER METAL PRODUCTS, INC. 401(K) PROFIT SHARING TRUST (2024) Form 5500
Creator: WEBBER METAL PRODUCTS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WEBBER METAL PRODUCTS, INC. 401(K) PROFIT SHARING TRUST, WEBBER METAL PRODUCTS, INC.

WEBBER METAL PRODUCTS, INC.EIN 42-1120876Plan #001PY 2024

PO BOX 10 - CASCADE, IA 52033563-852-7122webbermetals.comLinkedIn11-50 employeesmachinery

Prospect flagsHigh feesFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$36.1M

+6.6% from 2023

Total participants

174

-0.6% from 2023

Average account balance

$213,472

+8.5% from 2023

Annual return

12.46%

-2.74 pp from 2023

Benchmarks

See 14,154 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,154 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$36.08M

Not enough data

1 years with asset history on file

Average account balance

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

$213K

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.

169

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.

94.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$620K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+12.46%

Not enough data

1 years with return on file

Admin fee / account holder

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

$508

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

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
INDEPENDENT FINANCIAL PARTNERS1 year Service code 26 · EIN 59-3331424	Advisory (Participants)	$43,701
NEWPORT GROUP, INC.6 years Service code 15 · EIN 42-1451295 DEPT CH 17048 · PALATINE, IL 60055	Recordkeeping	$35,134
NATIONWIDE10+ years Service code 15 · EIN 31-4156830 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$2,363

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$86K

$954 / participant

Contract admin$86K100.0%

% of EOY assets

0.238%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HONKAMP, P.C.
Auditor EIN: 420946155
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$213,472

$86,949+145.5%

$102,460+108.3%

$80,959+163.7%

Participation rate

94.4%

72.4%+22.1pp

76.5%+17.9pp

67.7%+26.8pp

Annual return

12.46%

18.89%-6.4pp

29.47%-17.0pp

35.67%-23.2pp

Employer contribution / active EE

$3,339

$2,370+40.9%

$3,025+10.4%

$2,757+21.1%

Participant deferral / active EE

$3,549

$4,121-13.9%

$5,056-29.8%

$4,300-17.5%

Admin fee / account holder

$508

$8,048-93.7%

$9,460-94.6%

$6,925-92.7%

Provider

Service type

Compensation

INDEPENDENT FINANCIAL PARTNERS1 year

Service code 26 · EIN 59-3331424

Advisory (Participants)

$43,701

NEWPORT GROUP, INC.6 years

Service code 15 · EIN 42-1451295

DEPT CH 17048 · PALATINE, IL 60055

Recordkeeping

$35,134

NATIONWIDE10+ years

Service code 15 · EIN 31-4156830

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$2,363

WEBBER METAL PRODUCTS, INC. 401(K) PROFIT SHARING TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WEBBER METAL PRODUCTS, INC. 401(K) PROFIT SHARING TRUST

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