Retirement plan

WASHINGTON EDUCATION ASSOCIATION STAFF 401(K) PLAN

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

WASHINGTON EDUCATION ASSOCIATIONEIN 91-0460645Plan #002PY 2023

P.O. BOX 9100 - FEDERAL WAY, WA 98063253-941-6700washingtonea.orgLinkedIn51-200 employeesprimary/secondary education

Other plans on this EIN

1 filing

#001Retirement-$158.9M assets

Prospect flagsHigh assets / participant

How to read this page

Total assets (EOY)

$71.7M

+19.6% from 2022

Total participants

247

-0.4% from 2022

Average account balance

$294,906

+18.1% from 2022

Annual return

19.73%

+37.91 pp from 2022

Benchmarks

See 1,530 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants100-249

Cohort1,530 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$80.56M

Not enough data

1 years with asset history on file

Average account balance

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

$329K

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.

245

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.

99.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.65M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$29K

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

+14.96%

Not enough data

1 years with return on file

Admin fee / account holder

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

$29

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 1 by compensation

Provider	Service type	Compensation
MINNESOTA LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 41-0417830	Contract Administrator	$2,280

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

InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$2K

$12 / participant

Contract admin$2K100.0%

% of EOY assets

0.003%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: TREMPER & CO. LLP
Auditor EIN: 910872222
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$294,906

$65,582+349.7%

$64,101+360.1%

$71,511+312.4%

Participation rate

97.9%

73.2%+24.8pp

72.3%+25.6pp

67.9%+30.0pp

Annual return

19.73%

18.96%+0.8pp

33.72%-14.0pp

28.86%-9.1pp

Employer contribution / active EE

$13,270

$2,671+396.9%

$2,749+382.8%

$2,589+412.5%

Participant deferral / active EE

$14,481

$3,628+299.1%

$3,881+273.1%

$4,291+237.5%

Admin fee / account holder

$616-98.5%

$3,070-99.7%

$1,588-99.4%

Provider

Service type

Compensation

MINNESOTA LIFE INSURANCE COMPANY9+ years

Service code 13 · EIN 41-0417830

Contract Administrator

$2,280

WASHINGTON EDUCATION ASSOCIATION STAFF 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WASHINGTON EDUCATION ASSOCIATION STAFF 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