Retirement plan

WESTERN FABRICATION AND EQUIPMENT PROFIT SHARING AND 401K PLAN

Name: WFE, INC. DBA WESTERN FABRICATION AND EQUIPMENT - WESTERN FABRICATION AND EQUIPMENT PROFIT SHARING AND 401K PLAN (2024) Form 5500
Creator: WFE, INC. DBA WESTERN FABRICATION AND EQUIPMENT
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WESTERN FABRICATION AND EQUIPMENT PROFIT SHARING AND 401K PLAN, WFE, INC. DBA WESTERN FABRICATION AND EQUIPMENT

WFE, INC. DBA WESTERN FABRICATION AND EQUIPMENTEIN 77-0296422Plan #001PY 2024

P.O. BOX 2385 - BAKERSFIELD, CA 93303661-323-8319

Other plans on this EIN

1 filing

#002Retirement-$2.7M assets

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$786K

+31.9% from 2023

Total participants

0.0% from 2023

Average account balance

$196,542

+31.9% from 2023

Annual return

31.51%

+15.89 pp from 2023

Benchmarks

See 22,959 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,959 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$786K

Not enough data

1 years with asset history on file

Average account balance

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

$197K

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.

57.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$314

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

+31.51%

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

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 codes2E2F2G2J3D

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.
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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

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

$196,542

$117,895+66.7%

$102,460+91.8%

$145,897+34.7%

Participation rate

57.1%

78.6%-21.5pp

76.5%-19.4pp

80.3%-23.2pp

Annual return

31.51%

31.92%-0.4pp

29.47%+2.0pp

552.29%-520.8pp

Employer contribution / active EE

$3,619-100.0%

$3,025-100.0%

$4,663-100.0%

Participant deferral / active EE

$314

$5,736-94.5%

$5,056-93.8%

$6,689-95.3%

Admin fee / account holder

$13,353-100.0%

$9,460-100.0%

$13,390-100.0%

WESTERN FABRICATION AND EQUIPMENT PROFIT SHARING AND 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

WESTERN FABRICATION AND EQUIPMENT PROFIT SHARING AND 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion