Retirement plan

THE WEST AGENCY, LLC 401(K) PROFIT SHARING PLAN

Name: THE WEST AGENCY, LLC - THE WEST AGENCY, LLC 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: THE WEST AGENCY, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE WEST AGENCY, LLC 401(K) PROFIT SHARING PLAN, THE WEST AGENCY, LLC

THE WEST AGENCY, LLCEIN 46-1469169Plan #001PY 2024

57239 N MAIN ST. SUITE 3 - THREE RIVERS, MI 49093269-273-9551

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$391K

+29.0% from 2023

Total participants

+25.0% from 2023

Average account balance

$97,673

+29.0% from 2023

Annual return

15.13%

-2.43 pp from 2023

Benchmarks

See 37,087 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,087 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$391K

Not enough data

1 years with asset history on file

Average account balance

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

$98K

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.

133.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$42K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+15.13%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2G2J2R3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

1 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$97,673

$201,372-51.5%

$184,260-47.0%

$145,884-33.0%

Participation rate

66.7%

87.5%-20.8pp

86.8%-20.2pp

80.3%-13.6pp

Annual return

15.13%

29.04%-13.9pp

28.84%-13.7pp

551.85%-536.7pp

Employer contribution / active EE

$3,170

$7,024-54.9%

$6,427-50.7%

$4,662-32.0%

Participant deferral / active EE

$10,821

$9,808+10.3%

$9,133+18.5%

$6,690+61.8%

Admin fee / account holder

$16,362-100.0%

$13,898-100.0%

$13,392-100.0%

THE WEST AGENCY, LLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

THE WEST AGENCY, LLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion