Retirement plan

WAVES INC 401K PLAN

Name: WAVES INC - WAVES INC 401K PLAN (2023) Form 5500
Creator: WAVES INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WAVES INC 401K PLAN, WAVES INC

WAVES INCEIN 62-1465460Plan #002PY 2023

2800 MERCHANTS DRIVE - KNOXVILLE, TN 37912865-909-9200wavesinc.comLinkedIn51-200 employeesnon-profit organization management

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2.6M

+9.6% from 2022

Total participants

-11.6% from 2022

Average account balance

$68,303

+24.0% from 2022

Annual return

15.90%

+33.08 pp from 2022

Benchmarks

See 9,213 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,213 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.01M

Not enough data

1 years with asset history on file

Average account balance

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

$86K

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.

145.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$267K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+10.46%

Not enough data

1 years with return on file

Admin fee / account holder

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

$20420

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 codes2E2F2G2J2T3D

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.
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

1 tripped

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

$439K

$16891 / participant

Other / not subdivided$439K100.0%

% of EOY assets

16.920%

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

$68,303

$91,525-25.4%

$130,026-47.5%

$75,181-9.1%

Participation rate

100.0%

71.4%+28.6pp

78.5%+21.5pp

67.2%+32.8pp

Annual return

15.90%

-631.40%+647.3pp

-137.26%+153.2pp

160.69%-144.8pp

Employer contribution / active EE

$4,631

$2,844+62.8%

$4,321+7.2%

$2,671+73.4%

Participant deferral / active EE

$6,418

$4,342+47.8%

$5,821+10.3%

$4,126+55.6%

Admin fee / account holder

$11,557

$6,778+70.5%

$10,608+8.9%

$5,650+104.6%

WAVES INC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WAVES INC 401K 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