Retirement plan

WESTLAKE FARMS, INC. 401(K) PLAN

Name: WESTLAKE FARMS, INC. - WESTLAKE FARMS, INC. 401(K) PLAN (2024) Form 5500
Creator: WESTLAKE FARMS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WESTLAKE FARMS, INC. 401(K) PLAN, WESTLAKE FARMS, INC.

WESTLAKE FARMS, INC.EIN 94-1611906Plan #001PY 2024

23311 NEWTON AVE. - STRATFORD, CA 93266559-947-3590westernfarmpress.comLinkedIn11-50 employeesfood production

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$768K

-2.4% from 2023

Total participants

-4.8% from 2023

Average account balance

$54,891

-9.4% from 2023

Annual return

9.76%

-3.45 pp from 2023

Benchmarks

See 6,251 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants<25

Cohort6,251 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$768K

Not enough data

1 years with asset history on file

Average account balance

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

$55K

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.

87.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$119K

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

+9.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$16575

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 codes2F2G2J2T3D

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.
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

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

$232K

$14503 / participant

Other / not subdivided$232K100.0%

% of EOY assets

30.196%

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

$54,891

$150,435-63.5%

$120,580-54.5%

$145,897-62.4%

Participation rate

62.5%

78.8%-16.3pp

72.0%-9.5pp

80.3%-17.8pp

Annual return

9.76%

154.60%-144.8pp

107.48%-97.7pp

552.29%-542.5pp

Employer contribution / active EE

$1,804

$4,352-58.5%

$3,469-48.0%

$4,663-61.3%

Participant deferral / active EE

$5,640

$6,174-8.6%

$4,995+12.9%

$6,689-15.7%

Admin fee / account holder

$16,575

$12,182+36.1%

$9,418+76.0%

$13,390+23.8%

WESTLAKE FARMS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WESTLAKE FARMS, INC. 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