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| Provider | Service type | Compensation |
|---|---|---|
PEOPLE'S UNITED BANK2 years Service code 13 · EIN 06-1213065 | Contract Administrator | $22,798 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $53,770 | $58,512-8.1% | $84,015-36.0% | $72,985-26.3% |
| Participation rate | 63.0% | 61.2%+1.8pp | 69.0%-6.0pp | 69.5%-6.4pp |
| Annual return | 30.25% | 28.93%+1.3pp | 71.31%-41.1pp | 81.00%-50.8pp |
| Employer contribution / active EE | $1,543 | $1,163+32.7% | $1,983-22.2% | $2,440-36.7% |
| Participant deferral / active EE | $3,061 | $2,394+27.9% | $3,239-5.5% | $3,607-15.1% |
| Admin fee / account holder | $316 | $4,569-93.1% | $6,101-94.8% | $5,124-93.8% |