Retirement plan

STEFFEN SYSTEMS 401(K) PROFIT SHARING PLAN

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

WESTERN FORAGE EQUIPMENT, INC.dba STEFFEN SYSTEMSEIN 93-1289098Plan #001PY 2024

2882 HOWELL PRAIRIE ROAD NE - SALEM, OR 97305503-399-9941

Prospect flagsLow returnsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$4.3M

-7.6% from 2023

Total participants

-23.1% from 2023

Average account balance

$433,322

+20.1% from 2023

Annual return

8.52%

-0.03 pp from 2023

Benchmarks

See 23,076 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort23,076 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.33M

Not enough data

1 years with asset history on file

Average account balance

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

$433K

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.

111.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$53K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+8.52%

Not enough data

1 years with return on file

Admin fee / account holder

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

$83880

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 codes2E2F2G2J2R2T3D3H

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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$839K

$93200 / participant

Other / not subdivided$839K100.0%

% of EOY assets

19.357%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

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

$433,322

$117,859+267.7%

$102,438+323.0%

$145,959+196.9%

Participation rate

100.0%

78.6%+21.4pp

76.5%+23.5pp

80.3%+19.7pp

Annual return

8.52%

31.72%-23.2pp

29.37%-20.8pp

561.95%-553.4pp

Employer contribution / active EE

$1,525

$3,615-57.8%

$3,024-49.6%

$4,661-67.3%

Participant deferral / active EE

$4,326

$5,732-24.5%

$5,054-14.4%

$6,689-35.3%

Admin fee / account holder

$83,880

$13,318+529.8%

$9,448+787.8%

$13,398+526.1%

STEFFEN SYSTEMS 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

STEFFEN SYSTEMS 401(K) PROFIT SHARING 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