Retirement plan

WEST VIRGINIA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS 401(K) PLAN

Name: WEST VIRGINIA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS - WEST VIRGINIA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS 401(K) PLAN (2024) Form 5500
Creator: WEST VIRGINIA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WEST VIRGINIA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS 401(K) PLAN, WEST VIRGINIA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS

WEST VIRGINIA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTSEIN 55-6019021Plan #001PY 2024

216 BROOKS STREET, SUITE 201 - CHARLESTON, WV 25301304-342-5461

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$66K

-87.8% from 2023

Total participants

-33.3% from 2023

Average account balance

$32,961

-81.8% from 2023

Annual return

6.42%

-7.23 pp from 2023

Benchmarks

See 50,062 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort50,062 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$66K

Not enough data

1 years with asset history on file

Average account balance

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

$33K

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.

200.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$8K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+6.42%

Not enough data

1 years with return on file

Admin fee / account holder

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

$261408

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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$523K

$522816 / participant

Other / not subdivided$523K100.0%

% of EOY assets

793.095%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

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

$32,961

$88,702-62.8%

$81,780-59.7%

$145,978-77.4%

Participation rate

100.0%

75.0%+25.0pp

72.4%+27.6pp

80.3%+19.7pp

Annual return

6.42%

1029.12%-1022.7pp

776.27%-769.8pp

550.52%-544.1pp

Employer contribution / active EE

$6,595

$3,084+113.8%

$2,914+126.3%

$4,662+41.5%

Participant deferral / active EE

$1,635

$4,645-64.8%

$4,321-62.2%

$6,690-75.6%

Admin fee / account holder

$261,408

$8,414+3006.7%

$7,384+3440.3%

$13,400+1850.8%

WEST VIRGINIA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WEST VIRGINIA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS 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