Retirement plan

WIPRO LIMITED 401(K) PLAN

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

WIPRO LIMITEDEIN 98-0154401Plan #001PY 2023

2 TOWER CENTER BLVD FL 22 - EAST BRUNSWICK, NJ 088161100732-509-1500

Prospect flagsLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$714.5M

-18.5% from 2016

Total participants

16,893

-1.7% from 2016

Average account balance

$61,192

+1.2% from 2016

Annual return

20.43%

-11.27 pp from 2016

Benchmarks

See 103 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants>=10,000

Cohort103 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$831.16M

Not enough data

1 years with asset history on file

Average account balance

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

$70K

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.

11,790

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.

60.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$104.77M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+16.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$78

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 7 by compensation

Provider	Service type	Compensation
PRUDENTIAL RETIREMENT INSURANCE AND1 year Filed as: PRUDENTIAL RETIREMENT INS & ANNUITY Service code 13 · EIN 06-1050034	Contract Administrator	$525,499
RICAEDIA, LLC7 years Service code 16 · EIN 27-2287817	Consulting	$120,000
AMERICAN FUNDS9+ years Filed as: NEWPORT CAPITAL GROUP Service code 27 · EIN 86-1109193	Advisory (Plan)	$60,555
ALIGHT SOLUTIONS LLC1 year Service code 15 · EIN 82-1061233	Recordkeeping	$47,593
MOSS ADAMS LLP6 years Filed as: MOSS ADAMS, LLP Service code 10 · EIN 91-0189318	Accounting	$20,000
OGLETREE DEAKINS4 years Service code 29 · EIN 57-1044820	Legal	$8,869
THE BANK OF NEW YORK MELLON1 year Filed as: PERSHING LLC Service code 71 · EIN 13-2741729	Brokerage Fees	$1,341

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3F3H

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.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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).

Expense breakdown

Schedule H Part II

Admin total

$740K

$62 / participant

Recordkeeping$48K6.4%
Investment mgmt$61K8.2%
Legal$9K1.2%
Contract admin$599K80.9%
Other / not subdivided$24K3.2%

% of EOY assets

0.104%

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: MOSS ADAMS
Auditor EIN: 910189318
Audit fees: $20,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$61,192

$106,994-42.8%

$135,998-55.0%

$96,393-36.5%

Participation rate

56.2%

72.5%-16.3pp

81.9%-25.7pp

71.3%-15.1pp

Annual return

20.43%

26.64%-6.2pp

68.37%-47.9pp

22.88%-2.4pp

Employer contribution / active EE

$2,206

$3,391-34.9%

$4,860-54.6%

$3,239-31.9%

Participant deferral / active EE

$6,504

$7,968-18.4%

$7,761-16.2%

$5,455+19.2%

Admin fee / account holder

$63

$79-19.9%

$10,769-99.4%

$74-14.3%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND1 year

Filed as: PRUDENTIAL RETIREMENT INS & ANNUITY

Service code 13 · EIN 06-1050034

Contract Administrator

$525,499

RICAEDIA, LLC7 years

Service code 16 · EIN 27-2287817

Consulting

$120,000

AMERICAN FUNDS9+ years

Filed as: NEWPORT CAPITAL GROUP

Service code 27 · EIN 86-1109193

Advisory (Plan)

$60,555

ALIGHT SOLUTIONS LLC1 year

Service code 15 · EIN 82-1061233

Recordkeeping

$47,593

MOSS ADAMS LLP6 years

Filed as: MOSS ADAMS, LLP

Service code 10 · EIN 91-0189318

Accounting

$20,000

OGLETREE DEAKINS4 years

Service code 29 · EIN 57-1044820

Legal

$8,869

THE BANK OF NEW YORK MELLON1 year

Filed as: PERSHING LLC

Service code 71 · EIN 13-2741729

Brokerage Fees

$1,341

WIPRO LIMITED 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WIPRO LIMITED 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