Retirement plan

WEG U.S. 401(K) RETIREMENT PLAN

Name: WEG ELECTRIC CORP. - WEG U.S. 401(K) RETIREMENT PLAN (2020) Form 5500
Creator: WEG ELECTRIC CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WEG U.S. 401(K) RETIREMENT PLAN, WEG ELECTRIC CORP.

WEG ELECTRIC CORP.EIN 65-0280210Plan #002PY 2020

6655 SUGARLOAF PARKWAY - DULUTH, GA 300974907678-249-2000

Prospect flagsRecently reached 100 employeesFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$62.3M

+86.8% from 2019

Total participants

805

+85.9% from 2019

Average account balance

$81,099

No prior year

Annual return

82.56%

+56.44 pp from 2019

Benchmarks

See 1,266 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants250-999

Cohort1,266 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$109.65M

Not enough data

1 years with asset history on file

Average account balance

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

$83K

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.

1,323

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.

94.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$9.31M

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

+59.34%

Not enough data

1 years with return on file

Admin fee / account holder

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

$140

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 3 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: GREAT-WEST LIFE & ANNUITY INS CO Service code 64 · EIN 84-0679073	Recordkeeping Fees	$75,421
PENSION FINANCIAL SERVICES, INC.1 year Filed as: PENSION FINANCIAL SERVICES INC. Service code 13 3700 CRESTWOOD PARKWAY · DULUTH, GA 30096	Contract Administrator	$23,294
RESOURCES INVESTMENT ADVISORS LLC2 years Filed as: RESOURCES INVESTMENT ADVISORS Service code 27 · EIN 43-1451524 4860 COLLEGE BLVD · LEAWOOD, KS 66211	Advisory (Plan)	$23,294

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D3F3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
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

3 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$122K

$197 / participant

Investment mgmt$23K19.1%
Contract admin$75K61.8%
Other / not subdivided$23K19.1%

% of EOY assets

0.196%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: MOORE COLSON
Auditor EIN: 581653941
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$81,099

$78,419+3.4%

$133,978-39.5%

$73,412+10.5%

Participation rate

94.0%

78.6%+15.4pp

79.8%+14.2pp

72.2%+21.8pp

Annual return

82.56%

33.35%+49.2pp

45.10%+37.5pp

59.30%+23.3pp

Employer contribution / active EE

$1,955

$2,044-4.3%

$3,919-50.1%

$2,234-12.5%

Participant deferral / active EE

$5,916

$3,925+50.7%

$5,047+17.2%

$3,806+55.5%

Admin fee / account holder

$159

$161-1.5%

$8,930-98.2%

$158+0.6%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: GREAT-WEST LIFE & ANNUITY INS CO

Service code 64 · EIN 84-0679073

Recordkeeping Fees

$75,421

PENSION FINANCIAL SERVICES, INC.1 year

Filed as: PENSION FINANCIAL SERVICES INC.

Service code 13

3700 CRESTWOOD PARKWAY · DULUTH, GA 30096

Contract Administrator

$23,294

RESOURCES INVESTMENT ADVISORS LLC2 years

Filed as: RESOURCES INVESTMENT ADVISORS

Service code 27 · EIN 43-1451524

4860 COLLEGE BLVD · LEAWOOD, KS 66211

Advisory (Plan)

$23,294

WEG U.S. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WEG U.S. 401(K) RETIREMENT 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