Retirement plan

WSFS FINANCIAL CORPORATION SECTION 401K SAVINGS & RETIREMENT PLAN

Name: WILMINGTON SAVINGS FUND SOCIETY, FSB - WSFS FINANCIAL CORPORATION SECTION 401K SAVINGS & RETIREMENT PLAN (2022) Form 5500
Creator: WILMINGTON SAVINGS FUND SOCIETY, FSB
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WSFS FINANCIAL CORPORATION SECTION 401K SAVINGS & RETIREMENT PLAN, WILMINGTON SAVINGS FUND SOCIETY, FSB

WILMINGTON SAVINGS FUND SOCIETY, FSBEIN 51-0054940Plan #002PY 2022

500 DELAWARE AVENUE - WILMINGTON, DE 19801302-571-7000LinkedIn1001-5000 employeesbanking

Other plans on this EIN

2 filings

#004Retirement-$79.3M assets #006Retirement--

Prospect flagsNo flags tripped

Top hat statement on fileNQDC

Filed November 10, 2014

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)

$178.8M

-3.1% from 2021

Total participants

2,997

+38.1% from 2021

Average account balance

$71,254

-19.3% from 2021

Annual return

-9.00%

-25.35 pp from 2021

Benchmarks

See 565 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort565 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$260.11M

Not enough data

1 years with asset history on file

Average account balance

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

$92K

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.

2,816

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.

70.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$26.87M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+15.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$97

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
PENN INVESTMENT ADVISORS1 year Service code 27	Advisory (Plan)	$200,000
MASSACHUSETTS MUTUAL LIFE INS. CO.1 year Filed as: MASS MUTUAL LIFE INS. CO. Service code 62 · EIN 04-1590850	Float revenue; Recordkeeping fees	$193,398
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$60,074
WEB401K.COM, INC.8+ years Service code 13 · EIN 23-2298154	Contract Administrator	$22,500
PENN INVESTMENT ADVISORS6 years Filed as: PENN INVESTMENT ADVISORS, INC. Service code 27 · EIN 38-3802854	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S3H

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.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$207K

$87 / participant

Contract admin$207K100.0%

% of EOY assets

0.116%

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: KPMG
Auditor EIN: 135565207
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$71,254

$95,918-25.7%

$151,645-53.0%

$77,906-8.5%

Participation rate

79.4%

88.7%-9.3pp

87.5%-8.1pp

73.7%+5.7pp

Annual return

-9.00%

-5.50%-3.5pp

3.34%-12.3pp

12.16%-21.2pp

Employer contribution / active EE

$3,963

$4,330-8.5%

$6,165-35.7%

$2,846+39.2%

Participant deferral / active EE

$6,135

$7,508-18.3%

$8,363-26.6%

$4,805+27.7%

Admin fee / account holder

$83

$93-11.4%

$11,614-99.3%

$133-37.6%

Provider

Service type

Compensation

PENN INVESTMENT ADVISORS1 year

Service code 27

Advisory (Plan)

$200,000

MASSACHUSETTS MUTUAL LIFE INS. CO.1 year

Filed as: MASS MUTUAL LIFE INS. CO.

Service code 62 · EIN 04-1590850

Float revenue; Recordkeeping fees

$193,398

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INS CO OF AMERICA

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$60,074

WEB401K.COM, INC.8+ years

Service code 13 · EIN 23-2298154

Contract Administrator

$22,500

PENN INVESTMENT ADVISORS6 years

Filed as: PENN INVESTMENT ADVISORS, INC.

Service code 27 · EIN 38-3802854

Advisory (Plan)

WSFS FINANCIAL CORPORATION SECTION 401K SAVINGS & RETIREMENT PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WSFS FINANCIAL CORPORATION SECTION 401K SAVINGS & RETIREMENT 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