Retirement plan

WESTERN GROWERS RETIREMENT SECURITY PLAN

Name: WESTERN GROWERS ASSOCIATION - WESTERN GROWERS RETIREMENT SECURITY PLAN (2024) Form 5500
Creator: WESTERN GROWERS ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WESTERN GROWERS RETIREMENT SECURITY PLAN, WESTERN GROWERS ASSOCIATION

WESTERN GROWERS ASSOCIATIONEIN 95-1362030Plan #336PY 2024

6501 IRVINE CENTER DRIVE STE 100 - IRVINE, CA 92618949-863-1000

Prospect flagsHigh feesLow participationHigh assets / participantFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$145.3M

+12.2% from 2023

Total participants

1,952

-3.7% from 2023

Average account balance

$340,227

+265.5% from 2023

Annual return

14.52%

-5.54 pp from 2023

Benchmarks

See 79 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants1,000-4,999

Cohort79 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$145.28M

Not enough data

1 years with asset history on file

Average account balance

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

$340K

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.

427

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.

2.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$9.96M

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

+14.52%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1584

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 8 by compensation

Provider	Service type	Compensation
WESTERN GROWERS FINANCIAL SERVICES3+ years Service code 26 · EIN 91-2038676	Advisory (Participants)	$150,207
NWPS3+ years Service code 15 · EIN 91-2090931	Recordkeeping	$124,521
RAUB BROCK CAPITAL MANAGEMENT3+ years Service code 28 · EIN 27-2620760	Investment Management	$102,636
WESTERN GROWERS ASSOCIATION3+ years Service code 13 · EIN 95-3628301	Contract Administrator	$70,094
TRAN CAPITAL MANAGEMENT L.P.3+ years Service code 28 · EIN 94-6330378	Investment Management	$55,084
MOSS ADAMS LLP3+ years Service code 10 · EIN 91-0189318	Accounting	$52,500
CHARLES SCHWAB & CO., INC.2 years Filed as: CHARLES SCHWAB TRUST BANK Service code 19 · EIN 82-3967259	Securities Custodian	$52,477
ALTA TRUST3+ years Filed as: ALTA TRUST COMPANY Service code 21 · EIN 26-1505234	Bank Trustee	$25,000

Plan features & details

Pension benefit codes2A2E2F2G2J2K2R2S2T3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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.
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

5 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.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$677K

$432 / participant

Recordkeeping$149K22.1%
Trustee / custodial$55K8.2%
Investment mgmt$306K45.2%
Contract admin$72K10.6%
Other / not subdivided$94K13.9%

% of EOY assets

0.466%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER TILLY US, LLP
Auditor EIN: 301413443
Audit fees: $52,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$340,227

$55,347+514.7%

$120,580+182.2%

$200,096+70.0%

Participation rate

2.6%

52.9%-50.2pp

72.0%-69.3pp

72.0%-69.4pp

Annual return

14.52%

15.37%-0.9pp

107.48%-93.0pp

34.26%-19.7pp

Employer contribution / active EE

$3,156

$1,296+143.6%

$3,469-9.0%

$3,038+3.9%

Participant deferral / active EE

$3,204

$2,350+36.3%

$4,995-35.9%

$5,090-37.0%

Admin fee / account holder

$1,584

$134+1080.8%

$9,418-83.2%

$269+488.4%

Provider

Service type

Compensation

WESTERN GROWERS FINANCIAL SERVICES3+ years

Service code 26 · EIN 91-2038676

Advisory (Participants)

$150,207

NWPS3+ years

Service code 15 · EIN 91-2090931

Recordkeeping

$124,521

RAUB BROCK CAPITAL MANAGEMENT3+ years

Service code 28 · EIN 27-2620760

Investment Management

$102,636

WESTERN GROWERS ASSOCIATION3+ years

Service code 13 · EIN 95-3628301

Contract Administrator

$70,094

TRAN CAPITAL MANAGEMENT L.P.3+ years

Service code 28 · EIN 94-6330378

Investment Management

$55,084

MOSS ADAMS LLP3+ years

Service code 10 · EIN 91-0189318

Accounting

$52,500

CHARLES SCHWAB & CO., INC.2 years

Filed as: CHARLES SCHWAB TRUST BANK

Service code 19 · EIN 82-3967259

Securities Custodian

$52,477

ALTA TRUST3+ years

Filed as: ALTA TRUST COMPANY

Service code 21 · EIN 26-1505234

Bank Trustee

$25,000

WESTERN GROWERS RETIREMENT SECURITY PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WESTERN GROWERS RETIREMENT SECURITY 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