Retirement plan

TARGETCW 401(K) PLAN

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

WMBE PAYROLLING INCEIN 80-0424690Plan #001PY 2022

3545 AERO COURT - SAN DIEGO, CA 92123858-810-3000LinkedIn1-10 employees

Prospect flagsLow participationLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$16.1M

-4.9% from 2021

Total participants

6,671

+18.7% from 2021

Average account balance

$13,491

-28.5% from 2021

Annual return

-14.54%

-33.09 pp from 2021

Benchmarks

See 45 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants5,000-9,999

Cohort45 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$25.93M

Not enough data

1 years with asset history on file

Average account balance

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

$24K

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.

1,094

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.

14.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$6.93M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+23.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

$174

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 5 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$90,022
KORNERSTONE, INC.3 years Filed as: KORNERSTONE INC DBA (K)ORNERSTONE 4 Service code 27 1811 CONCORD AVE STE 130 · CHICO, CA 95928	Advisory (Plan)	$20,164
GLOBAL RETIREMENT PARTNERS LLC1 year Service code 27 4340 REDWOOD HWY · SAN RAFAEL, CA 94903	Advisory (Plan)	$19,141
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$9,111
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: GWFS EQUITIES INC Service code 72 8515 E ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Other investment fees and expenses	$30

Plan features & details

Pension benefit codes2F2G2K2S2T3D2R

Plan features

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.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$138K

$22 / participant

Investment mgmt$48K35.0%
Contract admin$90K65.0%

% of EOY assets

0.858%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MANN, URRUTIA, NELSON CPAS
Auditor EIN: 200276349
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$13,491

$33,018-59.1%

$77,096-82.5%

$78,104-82.7%

Participation rate

11.5%

38.5%-27.0pp

67.9%-56.4pp

74.5%-63.0pp

Annual return

-14.54%

-7.47%-7.1pp

42.35%-56.9pp

10.90%-25.4pp

Employer contribution / active EE

$20

$987-97.9%

$2,814-99.3%

$3,128-99.3%

Participant deferral / active EE

$976

$2,365-58.7%

$4,429-78.0%

$5,089-80.8%

Admin fee / account holder

$116

$108+6.8%

$5,428-97.9%

$79+46.6%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$90,022

KORNERSTONE, INC.3 years

Filed as: KORNERSTONE INC DBA (K)ORNERSTONE 4

Service code 27

1811 CONCORD AVE STE 130 · CHICO, CA 95928

Advisory (Plan)

$20,164

GLOBAL RETIREMENT PARTNERS LLC1 year

Service code 27

4340 REDWOOD HWY · SAN RAFAEL, CA 94903

Advisory (Plan)

$19,141

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$9,111

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: GWFS EQUITIES INC

Service code 72

8515 E ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Other investment fees and expenses

$30

TARGETCW 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TARGETCW 401(K) 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