Retirement plan

WESTAMERICA COMMUNICATIONS, INC. 401(K) PLAN

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

WESTAMERICA COMMUNICATIONS, INC.EIN 46-4808809Plan #001PY 2022

26012 ATLANTIC OCEAN DR. - LAKE FOREST, CA 92630949-462-3600mywestamerica.comLinkedIn51-200 employeesprinting

Prospect flagsHigh feesLow participationLow employer contributionLow participant contribution

How to read this page

Total assets (EOY)

$10.1M

-14.8% from 2021

Total participants

120

+11.1% from 2021

Average account balance

$121,628

-14.8% from 2021

Annual return

-14.55%

-27.80 pp from 2021

Benchmarks

See 318 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Cohort318 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.64M

Not enough data

1 years with asset history on file

Average account balance

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

$107K

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.

93.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$314K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+11.99%

Not enough data

1 years with return on file

Admin fee / account holder

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

$17954

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 7 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY4 years Service code 13 · EIN 42-0127290 PO BOX · DES MOINES, IA 503920001	Contract Administrator	$40,779
LPL FINANCIAL4 years Filed as: LPL FINANCIAL LLC Service code 49	Other Services	$20,844
PENSION PROFESSIONALS, INC.4 years Filed as: PENSION PROFESSIONALS, INC Service code 13	Contract Administrator	$4,963
PENSION PROFESSIONALS, INC.4 years Service code 13 · EIN 33-0001862 30212 TOMAS · RANCHO SANTA MARGARITA, CA 92688	Contract Administrator	$1,250
LPL FINANCIAL4 years Service code 49 · EIN 95-2834236 PO BOX 502308 · SAN DIEGO, CA 92150	Other Services	$0
WILSHIRE ASSOCIATES INCORPORATED1 year Filed as: WILSHIRE ADVISORS, LLC Service code 27	Advisory (Plan)	$0
WILSHIRE ASSOCIATES INCORPORATED4 years Service code 27 · EIN 95-2755361 1299 OCEAN AVE · SANTA MONICA, CA 90401	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
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.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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

$42K

$425 / participant

Contract admin$42K100.0%

% of EOY assets

0.416%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$121,628

$174,875-30.4%

$125,391-3.0%

Participation rate

62.6%

70.4%-7.8pp

82.4%-19.8pp

Annual return

-14.55%

-12.92%-1.6pp

572.41%-587.0pp

Employer contribution / active EE

$14

$3,570-99.6%

$4,816-99.7%

Participant deferral / active EE

$3,862

$6,354-39.2%

$7,448-48.1%

Admin fee / account holder

$506

$56,366-99.1%

$10,009-94.9%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY4 years

Service code 13 · EIN 42-0127290

PO BOX · DES MOINES, IA 503920001

Contract Administrator

$40,779

LPL FINANCIAL4 years

Filed as: LPL FINANCIAL LLC

Service code 49

Other Services

$20,844

PENSION PROFESSIONALS, INC.4 years

Filed as: PENSION PROFESSIONALS, INC

Service code 13

Contract Administrator

$4,963

PENSION PROFESSIONALS, INC.4 years

Service code 13 · EIN 33-0001862

30212 TOMAS · RANCHO SANTA MARGARITA, CA 92688

Contract Administrator

$1,250

LPL FINANCIAL4 years

Service code 49 · EIN 95-2834236

PO BOX 502308 · SAN DIEGO, CA 92150

Other Services

WILSHIRE ASSOCIATES INCORPORATED1 year

Filed as: WILSHIRE ADVISORS, LLC

Service code 27

Advisory (Plan)

WILSHIRE ASSOCIATES INCORPORATED4 years

Service code 27 · EIN 95-2755361

1299 OCEAN AVE · SANTA MONICA, CA 90401

Advisory (Plan)

WESTAMERICA COMMUNICATIONS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WESTAMERICA COMMUNICATIONS, INC. 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