Wells Enterprises, Inc. 401(k) Review & Grade
Wells Enterprises, Inc. 401(k) Plan
Le Mars, IAManufacturing3,770 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,788Employer $ per active participant
$5,454Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$445.8MNet plan assets, end of year
$90,651Average balance per account
Score breakdown
- Employer generosity27.7 / 5055th percentile for employer $ per participant
- Low cost14.3 / 2557th percentile for low admin cost vs. same-size plans
- Employee saving6.3 / 1542th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 55th |
| Lower admin cost | 57th |
| Employee saving | 42th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Wells Enterprises put in about $3,788 per active participant, more than the typical peer ($3,452). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $14,283,374 |
| Participant (employee) contributions | $20,562,528 |
| Other contributions (incl. rollovers in) | $1,766,030 |
| Administrative expenses paid from the plan | $422,811 |
| Contract administrator fees | $422,811 |
| Benefits paid out | $37,420,896 |
| Net assets, start / end of year | $396.2M / $445.8M |
| Active participants, start / end of year | 3,780 / 3,761 |
| Participants with account balances | 4,918 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars LLP |
Largest service providers (Schedule C)
| John Hancock Retirement Plan Srvcs | $422,811 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008175542NAL0003476499001, received 2025-10-08, EIN 42-1080796, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.