How much does Bane-Welker, Inc. contribute to its ESOP?

In 2022, employer contributions to the Bane-Welker, Inc. plan averaged $178 per active participant, below the $2,266 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the Bane-Welker, Inc. 401(k)?

The average participant account balance was $79,952 for plan year 2022, based on 457 accounts.

Bane-Welker, Inc.ESOP

Name: Bane-Welker, Inc. 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

BANE-WELKER EMPLOYEE STOCK OWNERSHIP PLAN · LADOGA, IN · plan year 2022

Employer contribution per participant · 2022

$178

Bane-Welker, Inc.'s 2022 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $36,537,878 across 457 participant accounts, with employer contributions averaging $178 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $10M–$50M size bracket, benchmarked here against 26,806 comparable plans and shown alongside other retail trade employers. By assets it is the 366th-largest of 1,562 plans among Indiana employers on file, and the 865th of 5,215 in retail trade.

Plan summary
Net assets, end of year$36,537,878
Participants with balances457
Active participants395
Employer contributions$70,257
Employee contributions—
Employer contribution per active participant$178
Average account balance$79,952
Benefits paid to participants$22,619
Plan auditUnmodified (clean) audit opinion
AuditorHUTH THOMPSON LLP

Plan history3

Yearassets · accounts · employer contribution

2024$13.7M · 518 accts · $152K emplr

2023$28.4M · 490 accts · $170K emplr

2022$36.5M · 457 accts · $70K emplr

Employer contributions to the Bane-Welker, Inc. plan · 2022

Employer contribution per active participant$178

Median for plans this size$2,266

2024$419 per active participant

2023$415 per active participant

2022$178 per active participant

Bane-Welker, Inc.'s 2022 employer contribution ran below the $2,266 median for plans its size, in the bottom quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

Administrative cost history3

2024Not separately reported

2023Not separately reported

2022Not separately reported

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Source: U.S. Department of Labor, Form 5500 series, EIN 351182790 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.