Retirement plan

EMPLOYEE 401(K) SAVINGS PLAN

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

WESTERN CNC, INC.EIN 95-3557222Plan #001PY 2024

1001 PARK CENTER DR - VISTA, CA 920818340760-597-7000westerncnc.comLinkedIn11-50 employeesmechanical or industrial engineering

Prospect flagsLow returnsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$8.7M

+18.3% from 2023

Total participants

159

+16.9% from 2023

Average account balance

$55,468

+1.0% from 2023

Annual return

10.54%

-2.88 pp from 2023

Benchmarks

See 4,101 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,101 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.71M

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.

157

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.

98.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$700K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+10.54%

Not enough data

1 years with return on file

Admin fee / account holder

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

$304

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290	Contract Administrator	$38,164
SECURITIES AMERICA INC7 years Filed as: SECURITIES AMERICA ADVISORS Service code 27 · EIN 47-0648506	Advisory (Plan)	$11,776
FILIPOVITCH & CO5 years Filed as: FILIPOVITCH & CO. Service code 10 · EIN 37-1747749	Accounting	$9,500
WILSHIRE ASSOCIATES INCORPORATED3 years Filed as: WILSHIRE ADVISORS LLC Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3H

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.
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.
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

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.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$48K

$343 / participant

Contract admin$38K80.1%
Other / not subdivided$9K19.9%

% of EOY assets

0.547%

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: FILIPOVITCH & CO
Auditor EIN: 371747749
Audit fees: $9,499
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$55,468

$79,209-30.0%

$102,434-45.8%

$74,459-25.5%

Participation rate

98.6%

74.8%+23.8pp

76.5%+22.1pp

67.2%+31.3pp

Annual return

10.54%

54.98%-44.4pp

29.46%-18.9pp

1369.70%-1359.2pp

Employer contribution / active EE

$1,360

$2,362-42.4%

$3,023-55.0%

$2,626-48.2%

Participant deferral / active EE

$3,675

$4,417-16.8%

$5,055-27.3%

$4,350-15.5%

Admin fee / account holder

$304

$2,002-84.8%

$9,462-96.8%

$1,945-84.4%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY10+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$38,164

SECURITIES AMERICA INC7 years

Filed as: SECURITIES AMERICA ADVISORS

Service code 27 · EIN 47-0648506

Advisory (Plan)

$11,776

FILIPOVITCH & CO5 years

Filed as: FILIPOVITCH & CO.

Service code 10 · EIN 37-1747749

Accounting

$9,500

WILSHIRE ASSOCIATES INCORPORATED3 years

Filed as: WILSHIRE ADVISORS LLC

Service code 27 · EIN 95-2755361

Advisory (Plan)

EMPLOYEE 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EMPLOYEE 401(K) SAVINGS 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