Workover Solutions 401(k) match, vesting and fees
What Workover Solutions' 401(k) plan says about matching contributions
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Principal Life Insurance Company | Schedule C ↗ |
| Independent auditor | Goff Backa Alfera & Company LLC (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
| Late participant contributions | Reported on the filing | Schedule H ↗ |
How the plan compares
Plan year 2024 medians for 356 defined-contribution plans in mining, quarrying, and oil and gas extraction with 100 to 499 participants.
| Workover Solutions: employer contribution per participant | $2,848 | |
| Peer median | $3,000 |
| Workover Solutions: average balance | $53,147 | |
| Peer median | $70,698 |
| Workover Solutions: admin expenses ÷ assets | 0.82% | |
| Peer median | 0.32% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $2.9M at the end of plan year 2021 to $6.4M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 161 | $6.4M | $345K | $2,848 | 0.82% | Not published | Form 5500 ↗ |
| 2023 | 172 | $5M | $477K | $3,557 | 0.78% | Not published | 5500-SF ↗ |
| 2022 | 147 | $3M | $259K | $3,317 | 0.72% | Not published | 5500-SF ↗ |
| 2021 | 106 | $2.9M | $218K | $3,569 | 0.81% | Not published | 5500-SF ↗ |
Common questions
Does Workover Solutions match 401(k) contributions?
The match terms for the Workover Solutions 401(k) Plan have not been published from its filing yet. The plan year 2024 filing reports $345K in employer contributions, about $2,848 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Workover Solutions 401(k) match vested?
The vesting schedule for the Workover Solutions 401(k) Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Workover Solutions 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Principal Life Insurance Company. The plan administrator is Workover Solutions.
I left Workover Solutions. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Workover Solutions, (346) 774-4433) or the recordkeeper, Principal Life Insurance Company. The Workover Solutions old 401(k) page lists the contacts from every plan filing. Find an old Workover Solutions 401(k)
Data from the public Form 5500 annual reports Workover Solutions filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Workover Solutions. Not financial advice. Report a correction · Methodology