How much does Weco Inc. contribute to its ESOP?

In 2024, employer contributions to the Weco Inc. plan averaged $11,662 per active participant, above the $2,416 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 Weco Inc. 401(k)?

The average participant account balance was $307,157 for plan year 2024, based on 149 accounts.

Weco Inc.ESOP

Name: Weco Inc. 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

WECO EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST · HARLAN, IA · plan year 2024

Employer contribution per participant · 2024

$11,662

Weco Inc.'s 2024 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 $45,766,410 across 149 participant accounts, with employer contributions averaging $11,662 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 27,838 comparable plans and shown alongside other construction employers. By assets it is the 208th-largest of 878 plans among Iowa employers on file, and the 1,117th of 5,337 in construction. active participation has grown from 122 to 140 since 2022.

Plan summary
Net assets, end of year$45,766,410
Participants with balances149
Active participants140
Employer contributions$1,632,688
Employee contributions—
Employer contribution per active participant$11,662
Average account balance$307,157
Benefits paid to participants$900,939
Plan auditUnmodified (clean) audit opinion
AuditorRSM US LLP

Plan history3

Yearassets · accounts · employer contribution

2024$45.8M · 149 accts · $1.6M emplr

2023$36.7M · 141 accts · $646K emplr

2022$19.9M · 143 accts · $407K emplr

Employer contributions to the Weco Inc. plan · 2024

Employer contribution per active participant$11,662

Median for plans this size$2,416

2024$11,662 per active participant

2023$4,517 per active participant

2022$3,332 per active participant

Weco Inc.'s 2024 employer contribution ran above the $2,416 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 history3

2024Not separately reported

2023Not separately reported

2022Not separately reported

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Source: U.S. Department of Labor, Form 5500 series, EIN 421320871 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.