Wisconsin Physicians Service Insurance Corporation 401(k) Review & Grade
WPS 401(k) Savings Plan
Madison, WIFinance & Insurance1,880 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,381Employer $ per active participant
$5,314Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$317.1MNet plan assets, end of year
$116,553Average balance per account
Score breakdown
- Employer generosity30.8 / 5062th percentile for employer $ per participant
- Low cost16.8 / 2567th percentile for low admin cost vs. same-size plans
- Employee saving4.0 / 1527th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-10 pts1 issue reported on the filing
Total score42 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 62th |
| Lower admin cost | 67th |
| Employee saving | 27th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($1,535 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Wisconsin Physicians Service Insurance put in about $4,381 per active participant, more than the typical peer ($3,606). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $8,236,687 |
| Participant (employee) contributions | $9,990,336 |
| Other contributions (incl. rollovers in) | $1,124,976 |
| Administrative expenses paid from the plan | $395,942 |
| Contract administrator fees | $151,224 |
| Investment advisory & management fees | $128,209 |
| Benefits paid out | $36,442,135 |
| Net assets, start / end of year | $296.4M / $317.1M |
| Active participants, start / end of year | 2,029 / 1,731 |
| Participants with account balances | 2,721 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Newport Group, Inc. | $267,733 reported compensation |
| Morgan Stanley | $128,209 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250715091036NAL0001872241001, received 2025-07-15, EIN 39-1268299, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.