Retirement plan

WESCON CONTROLS, LLC 401(K) PLAN

Name: WESCON CONTROLS, LLC - WESCON CONTROLS, LLC 401(K) PLAN (2023) Form 5500
Creator: WESCON CONTROLS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WESCON CONTROLS, LLC 401(K) PLAN, WESCON CONTROLS, LLC

WESCON CONTROLS, LLCEIN 46-0808728Plan #005PY 2023

2533 S WEST STREET - WICHITA, KS 67217316-942-7266wesconcontrols.comLinkedIn201-500 employeesmachinery

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$15.5M

+5.3% from 2022

Total participants

198

-3.9% from 2022

Average account balance

$93,318

+10.4% from 2022

Annual return

15.45%

+32.41 pp from 2022

Benchmarks

See 4,137 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,137 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.93M

Not enough data

1 years with asset history on file

Average account balance

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

$104K

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.

143

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.

77.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$940K

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

+12.50%

Not enough data

1 years with return on file

Admin fee / account holder

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

$644

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 2 by compensation

Provider	Service type	Compensation
CREATIVE PLANNING LLC6 years Filed as: CREATIVE PLANNING, INC. Service code 27 · EIN 43-1270780 11350 TOMAHAWK CREEK PKWY · LEAWOOD, KS 66211	Advisory (Plan)	$86,038
NEWPORT GROUP, INC.4 years Service code 13 · EIN 27-2037969	Contract Administrator	$5,459

Plan features & details

Pension benefit codes2E2F2H2J2S2T3D3F3H

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$91K

$587 / participant

Investment mgmt$86K94.0%
Contract admin$5K6.0%

% of EOY assets

0.591%

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: ALLEN, GIBBS & HOULIK, L.C.
Auditor EIN: 481032601
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$93,318

$76,112+22.6%

$96,544-3.3%

$71,529+30.5%

Participation rate

79.5%

74.4%+5.1pp

76.0%+3.5pp

67.9%+11.6pp

Annual return

15.45%

22.80%-7.4pp

25.88%-10.4pp

28.97%-13.5pp

Employer contribution / active EE

$2,864

$2,248+27.4%

$2,966-3.5%

$2,590+10.6%

Participant deferral / active EE

$4,495

$4,217+6.6%

$4,851-7.3%

$4,291+4.7%

Admin fee / account holder

$551

$2,708-79.6%

$8,254-93.3%

$1,588-65.3%

Provider

Service type

Compensation

CREATIVE PLANNING LLC6 years

Filed as: CREATIVE PLANNING, INC.

Service code 27 · EIN 43-1270780

11350 TOMAHAWK CREEK PKWY · LEAWOOD, KS 66211

Advisory (Plan)

$86,038

NEWPORT GROUP, INC.4 years

Service code 13 · EIN 27-2037969

Contract Administrator

$5,459

WESCON CONTROLS, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WESCON CONTROLS, LLC 401(K) 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