Retirement plan

WIRELESS EXPERIENCE GROUP, INC. 401(K)/PROFIT SHARING PLAN

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

WIRELESS EXPERIENCE GROUP, INC.EIN 45-4166124Plan #001PY 2022

509 N. MAIN STREET - MANAHAWKIN, NJ 08050732-552-0904LinkedIn51-200 employeestelecommunications

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$4.2M

-37.8% from 2021

Total participants

330

+8.6% from 2021

Average account balance

$28,169

-40.7% from 2021

Annual return

-16.50%

-28.63 pp from 2021

Benchmarks

See 1,277 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,277 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.31M

Not enough data

1 years with asset history on file

Average account balance

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

$65K

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.

212.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$166K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+9.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$9354

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 6 by compensation

Provider	Service type	Compensation
ROBIN S. WEINGAST & ASSOCIATES, INC3+ years Service code 13 GARDEN CITY CENTER · GARDEN CITY, NY 11530	Contract Administrator	$21,458
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	$9,493
LEAFHOUSE FINANCIAL ADVISORS, LLC3+ years Service code 27 6504 BRIDGE POINT PKWY STE 450 · AUSTIN, TX 78730	Advisory (Plan)	$2,798
PAYROLL INTEGRATIONS INC1 year Service code 99 270 N EL CAMINO REAL STE F321 · ENCINITAS, CA 92024	Other Fees	$1,245
CEP CONSULTANTS, INC3+ years Filed as: CEP BENEFITS Service code 99 1373 VETERNS HIGHWAY, SUITE 10 · HAUPPAGUE, NY 11788	Other Fees	$1,042
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$17K

$63 / participant

Investment mgmt$17K100.0%

% of EOY assets

0.400%

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: LEAR AND PANNEPACKER
Auditor EIN: 222947255
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$28,169

$42,367-33.5%

$79,583-64.6%

$64,824-56.5%

Participation rate

32.5%

64.7%-32.3pp

69.5%-37.0pp

71.5%-39.0pp

Annual return

-16.50%

-12.24%-4.3pp

0.16%-16.7pp

32.84%-49.3pp

Employer contribution / active EE

$893

$1,181-24.4%

$2,414-63.0%

$2,507-64.4%

Participant deferral / active EE

$1,260

$3,168-60.2%

$3,986-68.4%

$4,311-70.8%

Admin fee / account holder

$113

$160-29.5%

$6,835-98.4%

$188-40.1%

Provider

Service type

Compensation

ROBIN S. WEINGAST & ASSOCIATES, INC3+ years

Service code 13

GARDEN CITY CENTER · GARDEN CITY, NY 11530

Contract Administrator

$21,458

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

$9,493

LEAFHOUSE FINANCIAL ADVISORS, LLC3+ years

Service code 27

6504 BRIDGE POINT PKWY STE 450 · AUSTIN, TX 78730

Advisory (Plan)

$2,798

PAYROLL INTEGRATIONS INC1 year

Service code 99

270 N EL CAMINO REAL STE F321 · ENCINITAS, CA 92024

Other Fees

$1,245

CEP CONSULTANTS, INC3+ years

Filed as: CEP BENEFITS

Service code 99

1373 VETERNS HIGHWAY, SUITE 10 · HAUPPAGUE, NY 11788

Other Fees

$1,042

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

WIRELESS EXPERIENCE GROUP, INC. 401(K)/PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WIRELESS EXPERIENCE GROUP, INC. 401(K)/PROFIT SHARING 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