How much does W. C. Spratt Incorporated contribute to its ESOP?

In 2023, employer contributions to the W. C. Spratt Incorporated plan averaged $17,112 per active participant, above the $2,440 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 W. C. Spratt Incorporated 401(k)?

The average participant account balance was $150,344 for plan year 2023, based on 94 accounts.

W. C. Spratt IncorporatedESOP

Name: W. C. Spratt Incorporated 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

W. C. SPRATT INCORPORATED EMPLOYEE STOCK OWNERSHIP PLAN · FREDERICKSBURG, VA · plan year 2023

Employer contribution per participant · 2023

$17,112

W. C. Spratt Incorporated's 2023 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 $14,132,345 across 94 participant accounts, with employer contributions averaging $17,112 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 26,779 comparable plans and shown alongside other construction employers. By assets it is among the smaller plans on file in Virginia (1,233rd of 2,266), and the 2,572nd of 5,337 in construction.

Plan summary
Net assets, end of year$14,132,345
Participants with balances94
Active participants45
Employer contributions$770,035
Employee contributions—
Employer contribution per active participant$17,112
Average account balance$150,344
Benefits paid to participants$1,179,853
Plan auditUnmodified (clean) audit opinion
AuditorFORVIS MAZARS, LLP

Plan history2

Yearassets · accounts · employer contribution

2023$14.1M · 94 accts · $770K emplr

2022$12.9M · 103 accts · $824K emplr

Employer contributions to the W. C. Spratt Incorporated plan · 2023

Employer contribution per active participant$17,112

Median for plans this size$2,440

2023$17,112 per active participant

2022$16,473 per active participant

W. C. Spratt Incorporated's 2023 employer contribution ran above the $2,440 median for plans its size, placing it in the top 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 history2

2023Not separately reported

2022Not separately reported

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Source: U.S. Department of Labor, Form 5500 series, EIN 540635157 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.