401(k) · DOL Form 5500 · 2023

Watson Electrical Construction Co., LLC 401(k) Plan

Data updated 2026-08-25

$23M
Total assets Small plan by assets
476
Participants Below avg headcount
75th
Percentile by assets National rank
$48,514
Avg per participant Low balance/head
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Official DOL plan name: Watson Electrical 401(k) Plan · Sponsored by Watson Electrical Construction Co., LLC · North Carolina · Construction

$23M in assets, 476 participants

Watson Electrical Construction Co., LLC's Watson Electrical 401(k) Plan reported $23M in total assets and 476 participants in its 2023 DOL Form 5500 filing, ranking in the 75th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #6,663 in Construction (9,030 peers)

Where Watson Electrical 401(k) Plan sits by assets

Watson Electrical 401(k) Plan sits in the top quartile of all filed plans by assets, $23M for 476 participants (~$48,514/participant), down 4.4% in 2023.

#6,663
in Construction (9,030 peers)
-4.4%
assets change YoY
0.2×
vs typical plan assets (national mean)

The plan reported a net loss of $1M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Watson Electrical 401(k) Plan's outsized position by total assets

Watson Electrical 401(k) Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$23,092,797 Top 25% higher than 75% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

Watson Electrical 401(k) Plan among mid-size filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Watson Electrical 401(k) Plan sits mid-pack in the medium band (476 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Watson Electrical 401(k) Plan reported net income rose from -$4M in the plan year 2022 filing to -$1M in the plan year 2023 filing.
  • Watson Electrical 401(k) Plan reported participants fell from 719 in the plan year 2022 filing to 476 in the plan year 2023 filing.
  • Watson Electrical 401(k) Plan end-of-year assets fell from $24M in the plan year 2022 filing to $23M in the plan year 2023 filing.

See the national 2022→2023 release diff →

Published 5500 schedule card

Filing strip 611440043 · Watson Electrical Construction Co., LLC PY 2023 · 401(k)

Watson Electrical 401(k) Plan · $23M · 476 · 75th

  • TYPE $23M
  • NET 476
  • BOOK 75th
  • VS-ST 401(k)
  • BOY near Neste US, Inc. Retirement Savings Plan
  • SCH ind #6663

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Construction retirement plans → · Plans in North Carolina →

Watson Electrical 401(k) Plan in the asset neighbourhood

Watson Electrical 401(k) Plan$23MNeste US, Inc. Retirement Savings PlanNeste US, Inc. Retirement Sa…$23MM3 Accounting Services, Inc. 401(k) PlanM3 Accounting Services, Inc.…$23MDiamond Plastics Corporation 401(k) PlanDiamond Plastics Corporation…$23MRowley 401(k) Plan$23M
End-of-year total assets ($M) among Watson Electrical 401(k) Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Scale-class filing particulars (2023)

Total Assets (Beginning of Year)$24M
Net Assets (End of Year)$23M
Net Income-$1M
Employer EIN611440043
Plan Effective Date2003-02-26
Filing StatusFILING RECEIVED

Sponsor Plan History (Watson Electrical Construction Co., LLC)

Sponsor-wide plan assets over time

All Watson Electrical Construction Co., LLC plans reported in each filing year

Latest sponsor-wide plan assets
$24M 1.1712894476551978% vs 2022
2024 filing year
$22.5M$23M$23.5M$24M$24.5M 202220232024 $24.2M $23.9M ▼ -1.2%
Year Plans Participants Total Assets
2022 1 719 $24M
2023 1 476 $23M
2024 1 332 $24M

Nearby 401(k) Plans in North Carolina

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Watson Electrical 401(k) Plan vs. nearby 401(k) plans in North Carolina, assets vs. participants Scatter plot of 6 data points. -50000050000100000150000200000 -200204060 Total assets ($B) Participants Watson Electrical 401(k) Plan, Total assets ($B): 0.023092797 · Participants: 476Watson Electrical 401(k) PlanThe Bank of America 401(k) Plan, Total assets ($B): 54.848846192 · Participants: 173899The Bank of America 401(k) PlanHoneywell 401(k) Plan, Total assets ($B): 15.388124058 · Participants: 40004Honeywell 401(k) PlanDuke Energy Retirement Savings Plan, Total assets ($B): 10.354065 · Participants: 28121Duke Energy Retirement Savings PlanTruist Financial Corporation 401(k) Savings Plan, Total assets ($B): 10.120701726 · Participants: 55480Truist Financial Corporation 401(k) Savings PlanNucor Corporation Profit Sharing and Retirement Savings Plan, Total assets ($B): 8.510660989 · Participants: 24174Nucor Corporation Profit Sharing and Retirement Savings Plan
Watson Electrical 401(k) Plan vs. nearby 401(k) plans in North Carolina, assets vs. participants
Compare Watson Electrical 401(k) Plan side-by-side with 3 peers →

Watson Electrical 401(k) Plan's out-of-state 401(k) peers by assets and headcount

Outside North Carolina, the nearest 401(k) by assets is Neste US, Inc. Retirement Savings Plan in TX ($23M); by covered participants it is Nourison Industries, Inc. 401(k) Profit Sharing Plan in NJ (476 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($23M here).

Similar participant headcount

Nearest other-state filings by covered participants (476 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Watson Electrical 401(k) Plan assets move in 2023? ▼
Watson Electrical 401(k) Plan edged down modestly - down 4.4% during 2023, from $24M to $23M. Reported net income was -$1M.
How have Watson Electrical Construction Co., LLC plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Watson Electrical Construction Co., LLC's sponsor-wide assets declined 1.2%, from $24M to $24M.
Where does Watson Electrical 401(k) Plan rank by assets among Form 5500 filers? ▼
Watson Electrical 401(k) Plan ranks in the 75th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top quartile of all filed plans by assets).
Which 401(k) plans are similar in size to Watson Electrical 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by assets is Neste US, Inc. Retirement Savings Plan in TX ($23M, 149 participants).
Which 401(k) plans cover a similar participant headcount to Watson Electrical 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Nourison Industries, Inc. 401(k) Profit Sharing Plan in NJ (476 participants, $25M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 611440043.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.