Retirement plan

401(A) DEFINED CONTRIBUTION PLAN OF WAYNE ACTION GROUP FOR ECONOMIC SOLVENCY, INC.

Name: WAYNE ACTION GROUP FOR ECONOMI - 401(A) DEFINED CONTRIBUTION PLAN OF WAYNE ACTION GROUP FOR ECONOMIC SOLVENCY, INC. (2024) Form 5500
Creator: WAYNE ACTION GROUP FOR ECONOMI
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 401(A) DEFINED CONTRIBUTION PLAN OF WAYNE ACTION GROUP FOR ECONOMIC SOLVENCY, INC., WAYNE ACTION GROUP FOR ECONOMI

WAYNE ACTION GROUP FOR ECONOMIEIN 56-6070824Plan #001PY 2024

601 ROYALL AVE - GOLDSBORO, NC 275342570919-734-1178wagesnc.orgLinkedIn51-200 employeesnon-profit organization management

Other plans on this EIN

1 filing

#002Retirement-$832K assets

Prospect flagsLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$4.3M

+18.9% from 2023

Total participants

392

+1.0% from 2023

Average account balance

$14,304

+17.3% from 2023

Annual return

12.09%

-3.45 pp from 2023

Benchmarks

See 4,117 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,117 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.31M

Not enough data

1 years with asset history on file

Average account balance

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

$14K

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.

301

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.

74.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$566K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+12.09%

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 1 by compensation

Provider	Service type	Compensation
MUTUAL OF AMERICA INVESTMENT CORP4 years Service code 12 320 PARK AVENUE · NEW YORK, NY 10022	Claims processing; Account maintenanc...	$3,702

Plan features & details

Pension benefit codes2G3D2E2J2T

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.
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.

Opportunity flags

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$2K

$6 / participant

Other / not subdivided$2K100.0%

% of EOY assets

0.055%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BARROW, PARRIS, & DAVENPORT, PA
Auditor EIN: 203919587
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$14,304

$50,902-71.9%

$155,534-90.8%

$77,736-81.6%

Participation rate

74.9%

63.1%+11.8pp

78.2%-3.3pp

70.6%+4.3pp

Annual return

12.09%

34.85%-22.8pp

64.92%-52.8pp

31.26%-19.2pp

Employer contribution / active EE

$1,561

$1,991-21.6%

$4,675-66.6%

$2,728-42.8%

Participant deferral / active EE

$2,824-100.0%

$5,630-100.0%

$4,651-100.0%

Admin fee / account holder

$437-98.2%

$15,900-100.0%

$433-98.2%

Provider

Service type

Compensation

MUTUAL OF AMERICA INVESTMENT CORP4 years

Service code 12

320 PARK AVENUE · NEW YORK, NY 10022

Claims processing; Account maintenanc...

$3,702

401(A) DEFINED CONTRIBUTION PLAN OF WAYNE ACTION GROUP FOR ECONOMIC SOLVENCY, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

401(A) DEFINED CONTRIBUTION PLAN OF WAYNE ACTION GROUP FOR ECONOMIC SOLVENCY, INC.

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