401(k) · DOL Form 5500 · 2023

Watson Electric Company, Inc. 401(k) Plan

Data updated 2026-08-25

$5M
Total assets Small plan by assets
79
Participants Small participant base
42nd
Percentile by assets National rank
$56,976
Avg per participant Low balance/head
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Official DOL plan name: Watson Electric Company Inc. Salary Deferral and Profit Sharing Plan · Sponsored by Watson Electric Company, Inc. · North Carolina · Construction

$5M in assets, 79 participants

Watson Electric Company, Inc.'s Watson Electric Company Inc. Salary Deferral and Profit Sharing Plan reported $5M in total assets and 79 participants in its 2023 DOL Form 5500 filing, ranking in the 42nd 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.

  • #3,615 in Construction (9,030 peers)

Watson Electric Company, Inc. multi-year trail

Watson Electric Company, Inc.'s plans moved +25.4% in assets from 2022 to 2024; this filing shows Watson Electric Company Inc. Salary Deferral and Profit Sharing Plan at $5M / 79 participants.

#3,615
in Construction (9,030 peers)
+14.4%
assets growth YoY

Watson Electric Company Inc. Salary Deferral and Profit Sharing Plan's mid-pack asset rank among Construction and all filers

Watson Electric Company Inc. Salary Deferral and Profit Sharing Plan vs every filed plan by assets

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

$4,501,101 42nd percentile higher than 42% 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 Electric Company Inc. Salary Deferral and Profit Sharing Plan among smaller filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Watson Electric Company Inc. Salary Deferral and Profit Sharing Plan is a small filing (79 participants) on this national headcount ladder.

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Watson Electric Company Inc. Salary Deferral and Profit Sharing Plan reported net income rose from -$497K in the plan year 2022 filing to $567K in the plan year 2023 filing.
  • Watson Electric Company Inc. Salary Deferral and Profit Sharing Plan reported participants rose from 65 in the plan year 2022 filing to 79 in the plan year 2023 filing.
  • Watson Electric Company Inc. Salary Deferral and Profit Sharing Plan end-of-year assets rose from $4M in the plan year 2022 filing to $5M in the plan year 2023 filing.

See the national 2022→2023 release diff →

DOL schedule card

Filing strip 560813450 · Watson Electric Company, Inc. PY 2023 · 401(k)

Watson Electric Company Inc. Salary Deferral and Profit Sharing Plan · $5M · 79 · 42nd

  • PCT $5M
  • EIN 79
  • RANK 42nd
  • PHOTO 401(k)
  • IND near Filnor, Inc. Profit Sharing Plan
  • EOY ind #3615

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 Electric Company Inc. Salary Deferral and Profit Sharing Plan in the asset neighbourhood

Watson Electric Company Inc. Salary Deferral and Profit Sharing PlanWatson Electric Company Inc.…$5MFilnor, Inc. Profit Sharing PlanFilnor, Inc. Profit Sharing …$5MFlex-N-Gate Texas Union #119 401(k) PlanFlex-N-Gate Texas Union #119…$5MHudson's Furniture Showroom, Inc. 401(k) Profit Sharing PlanHudson's Furniture Showroom,…$5MXponent Hr Solutions 401(k) PlanXponent Hr Solutions 401(k) …$5M
End-of-year total assets ($M) among Watson Electric Company Inc. Salary Deferral and Profit Sharing Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Watson Electric Company, Inc. multi-year asset trail

Sponsor-wide plan assets over time

All Watson Electric Company, Inc. plans reported in each filing year

Latest sponsor-wide plan assets
$5M 25.417007833903053% vs 2022
2024 filing year
$3.5M$4M$4.5M$5M$5.5M 202220232024 $3.93M $4.93M ▲ +25.4%
Year Plans Participants Total Assets
2022 1 65 $4M
2023 1 79 $5M
2024 1 78 $5M

Watson Electric Company, Inc. filing trail (2023)

Total Assets (Beginning of Year)$4M
Net Assets (End of Year)$5M
Net Income$567K
Employer EIN560813450
Plan Effective Date1977-11-21
Filing StatusFILING RECEIVED

Nearby 401(k) Plans in North Carolina

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

Watson Electric Company Inc. Salary Deferral and Profit Sharing Plan vs. nearby 401(k) plans in North Carolina, assets vs. participants Scatter plot of 6 data points. -50000050000100000150000200000 -200204060 Total assets ($B) Participants Watson Electric Company Inc. Salary Deferral and Profit Sharing Plan, Total assets ($B): 0.004501101 · Participants: 79Watson Electric Company Inc. Salary Deferral and Profit Sharing 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 Electric Company Inc. Salary Deferral and Profit Sharing Plan vs. nearby 401(k) plans in North Carolina, assets vs. participants
Compare Watson Electric Company Inc. Salary Deferral and Profit Sharing Plan side-by-side with 3 peers →

Watson Electric Company Inc. Salary Deferral and Profit Sharing Plan's out-of-state 401(k) peers by assets and headcount

Outside North Carolina, the nearest 401(k) by assets is Filnor, Inc. Profit Sharing Plan in OH ($5M); by covered participants it is Heart of America Beverage Company, LLC 401(k) Plan in MO (79 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (79 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 Electric Company Inc. Salary Deferral and Profit Sharing Plan assets move in 2023? ▼
Watson Electric Company Inc. Salary Deferral and Profit Sharing Plan grew at a solid clip - up 14.4% during 2023, from $4M to $5M. Reported net income was $567K.
How have Watson Electric Company, Inc. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Watson Electric Company, Inc.'s sponsor-wide assets grew 25.4%, from $4M to $5M.
Which 401(k) plans are similar in size to Watson Electric Company Inc. Salary Deferral and Profit Sharing Plan? ▼
Among 401(k) plans in other states, the closest by assets is Filnor, Inc. Profit Sharing Plan in OH ($5M, 47 participants).
Which 401(k) plans cover a similar participant headcount to Watson Electric Company Inc. Salary Deferral and Profit Sharing Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Heart of America Beverage Company, LLC 401(k) Plan in MO (79 participants, $9M 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 560813450.

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.