How much does Western State Agency, Inc. contribute to its ESOP?

In 2024, employer contributions to the Western State Agency, Inc. plan averaged $5,072 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 Western State Agency, Inc. 401(k)?

The average participant account balance was $184,210 for plan year 2024, based on 289 accounts.

Western State Agency, Inc.ESOP

Name: Western State Agency, Inc. 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

WESTERN STATE AGENCY, INC. EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST · DEVILS LAKE, ND · plan year 2024

Employer contribution per participant · 2024

$5,072

Western State Agency, 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 $53,236,771 across 289 participant accounts, with employer contributions averaging $5,072 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 finance & insurance employers. By assets it is the 48th-largest of 279 plans among North Dakota employers on file, and the 1,586th of 4,798 in finance & insurance.

Plan summary
Net assets, end of year$53,236,771
Participants with balances289
Active participants288
Employer contributions$1,460,851
Employee contributions—
Employer contribution per active participant$5,072
Average account balance$184,210
Benefits paid to participants$1,815,135
Plan auditUnmodified (clean) audit opinion
AuditorEIDE BAILLY, LLP

Plan history3

Yearassets · accounts · employer contribution

2024$53.2M · 289 accts · $1.5M emplr

2023$44.9M · 281 accts · $1.4M emplr

2022$45.4M · 260 accts · $1.3M emplr

Employer contributions to the Western State Agency, Inc. plan · 2024

Employer contribution per active participant$5,072

Median for plans this size$2,416

2024$5,072 per active participant

2023$4,893 per active participant

2022$4,699 per active participant

Western State Agency, 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

All plans at this employer2

WESTERN STATE AGENCY, INC. 401(K) PROFIT SHARING PLAN401(k)

WESTERN STATE AGENCY, INC. EMPLOYEE STOCK OWNERSHIP PLAN AND TRUSTESOP

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Source: U.S. Department of Labor, Form 5500 series, EIN 450106740 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.