Retirement plan

WOERNER MANAGEMENT, INC. 401(K) RETIREMENT PLAN

Name: WOERNER MANAGEMENT, INC. - WOERNER MANAGEMENT, INC. 401(K) RETIREMENT PLAN (2022) Form 5500
Creator: WOERNER MANAGEMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WOERNER MANAGEMENT, INC. 401(K) RETIREMENT PLAN, WOERNER MANAGEMENT, INC.

WOERNER MANAGEMENT, INC.EIN 65-0683629Plan #001PY 2022

275 SW 3RD AVENUE - SOUTH BAY, FL 33493561-721-5829

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$10.8M

-11.8% from 2021

Total participants

106

-14.5% from 2021

Average account balance

$143,366

-9.4% from 2021

Annual return

-12.18%

-21.82 pp from 2021

Benchmarks

See 2,278 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants25-99

Cohort2,278 peers

Snapshot2022

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Analytics

Total assets (EOY)

Plan-year ending balance

$10.46M

Not enough data

1 years with asset history on file

Average account balance

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

$132K

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.

89.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$584K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+14.18%

Not enough data

1 years with return on file

Admin fee / account holder

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

$22971

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.3 years Filed as: MASS MUTUAL LIFE Service code 52 · EIN 04-1590850	Indirect Investment Fees	$25,749
RAYMOND JAMES FINANCIAL SERVICES2 years Filed as: RAYMOND JAMES FIN SVCS, INC. Service code 27 · EIN 59-1531281	Advisory (Plan)	$21,012
THE AIMPOINT GROUP3 years Service code 13 · EIN 46-1931817	Contract Administrator	$12,448
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: GREAT WEST LIFE & ANNUITY INSURANCE Service code 71 · EIN 84-0467945	Brokerage Fees	$195

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$31K

$359 / participant

Contract admin$31K100.0%

% of EOY assets

0.284%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BERKOWITZ POLLACK BRANT
Auditor EIN: 592742314
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$143,366

$56,357+154.4%

$104,294+37.5%

$68,494+109.3%

Participation rate

63.5%

63.3%+0.3pp

73.3%-9.7pp

67.9%-4.4pp

Annual return

-12.18%

-9.19%-3.0pp

24.61%-36.8pp

-7.84%-4.3pp

Employer contribution / active EE

$2,163

$1,960+10.3%

$3,372-35.9%

$2,596-16.7%

Participant deferral / active EE

$4,120

$3,077+33.9%

$4,625-10.9%

$4,027+2.3%

Admin fee / account holder

$407

$4,903-91.7%

$7,339-94.5%

$5,403-92.5%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.3 years

Filed as: MASS MUTUAL LIFE

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$25,749

RAYMOND JAMES FINANCIAL SERVICES2 years

Filed as: RAYMOND JAMES FIN SVCS, INC.

Service code 27 · EIN 59-1531281

Advisory (Plan)

$21,012

THE AIMPOINT GROUP3 years

Service code 13 · EIN 46-1931817

Contract Administrator

$12,448

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: GREAT WEST LIFE & ANNUITY INSURANCE

Service code 71 · EIN 84-0467945

Brokerage Fees

$195

WOERNER MANAGEMENT, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WOERNER MANAGEMENT, INC. 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