Wesleylife 401(k) Review & Grade
Wesleylife 401(k) Profit Sharing Plan
Johnston, IAHealth Care & Social Assistance1,486 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$928Employer $ per active participant
$2,641Employee $ saved per active participant
0.33%Direct admin cost, % of plan assets
$38.8MNet plan assets, end of year
$14,939Average balance per account
Score breakdown
- Employer generosity24.5 / 5049th percentile for employer $ per participant
- Low cost9.2 / 2537th percentile for low admin cost vs. same-size plans
- Employee saving7.8 / 1552th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score52 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 49th |
| Lower admin cost | 37th |
| Employee saving | 52th |
| Peers that auto-enroll | 36% |
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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
- Wesleylife put in about $928 per active participant, below the typical peer ($976). Any match is still an instant return, so contribute enough to get all of it.
- 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 | $1,379,210 |
| Participant (employee) contributions | $3,923,157 |
| Other contributions (incl. rollovers in) | $129,615 |
| Administrative expenses paid from the plan | $121,660 |
| Investment advisory & management fees | $13,911 |
| Benefits paid out | $5,089,246 |
| Net assets, start / end of year | $34.5M / $38.8M |
| Active participants, start / end of year | 1,397 / 1,574 |
| Participants with account balances | 2,595 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen, LLP |
Largest service providers (Schedule C)
| American Trust Company | $60,099 reported compensation |
| Oneamerica Retirement Services | $48,403 reported compensation |
| Ubs Financial | $13,157 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015115014NAL0002243875001, received 2025-10-15, EIN 30-0577845, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.