Retirement plan

WESTERN FORMS, INC. 401(K) PROFIT SHARING PLAN

Name: WESTERN FORMS, INC. - WESTERN FORMS, INC. 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: WESTERN FORMS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WESTERN FORMS, INC. 401(K) PROFIT SHARING PLAN, WESTERN FORMS, INC.

WESTERN FORMS, INC.EIN 44-0626366Plan #001PY 2022

6200 EQUITABLE RD - KANSAS CITY, MO 64120816-241-0477westernformsapp.comLinkedIn51-200 employeesconstruction

Prospect flagsLow returnsHigh feesLow participationCorrective distributions

Top hat statement on fileNQDC

Filed March 21, 2008

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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How to read this page

Total assets (EOY)

$6.5M

-16.2% from 2021

Total participants

117

+5.4% from 2021

Average account balance

$75,926

-4.4% from 2021

Annual return

-19.47%

-36.51 pp from 2021

Benchmarks

See 14,500 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,500 peers

Snapshot2022

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Analytics

Total assets (EOY)

Plan-year ending balance

$8.89M

Not enough data

1 years with asset history on file

Average account balance

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

$96K

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.

108.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$597K

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

+11.32%

Not enough data

1 years with return on file

Admin fee / account holder

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

$13494

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
MARINER LLC4 years Filed as: MARINER WEALTH ADVISORS, LLC Service code 27 5700 W 112TH ST STE 500 · OVERLAND PARK, KS 66211	Advisory (Plan)	$27,902
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$10,297
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$1,412

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
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.

Opportunity flags

4 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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$38K

$433 / participant

Investment mgmt$29K77.8%
Contract admin$8K22.2%

% of EOY assets

0.584%

all-in expense ratio

Categories reported

2 / 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: MARR AND COMPANY
Auditor EIN: 431490039
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$75,926

$71,883+5.6%

$86,677-12.4%

$68,494+10.8%

Participation rate

63.2%

72.2%-9.0pp

76.6%-13.4pp

67.9%-4.7pp

Annual return

-19.47%

3.52%-23.0pp

35.91%-55.4pp

-7.84%-11.6pp

Employer contribution / active EE

$1,541

$2,173-29.1%

$2,836-45.7%

$2,596-40.6%

Participant deferral / active EE

$4,026

$3,779+6.6%

$4,656-13.5%

$4,0270%

Admin fee / account holder

$443

$6,112-92.7%

$7,493-94.1%

$5,403-91.8%

Provider

Service type

Compensation

MARINER LLC4 years

Filed as: MARINER WEALTH ADVISORS, LLC

Service code 27

5700 W 112TH ST STE 500 · OVERLAND PARK, KS 66211

Advisory (Plan)

$27,902

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$10,297

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$1,412

WESTERN FORMS, INC. 401(K) PROFIT SHARING PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WESTERN FORMS, INC. 401(K) PROFIT SHARING PLAN

Top hat statement on fileNQDC

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