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| Provider | Service type | Compensation |
|---|---|---|
FINANCIAL SOLUTIONS MIDWEST, LLC2+ years Filed as: FINANCIAL SOLUTIONS Service code 27 937 W. RANDOLPH STREET, SUITE 2E · CHICAGO, IL 60607 | Advisory (Plan) | $13,522 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $48,752 | $75,183-35.2% | $123,894-60.7% | $55,167-11.6% |
| Participation rate | 27.6% | 72.8%-45.2pp | 81.4%-53.8pp | 69.0%-41.4pp |
| Annual return | 11.26% | 19.01%-7.8pp | 47.52%-36.3pp | 169.23%-158.0pp |
| Employer contribution / active EE | $0 | $2,823-100.0% | $4,617-100.0% | $1,963-100.0% |
| Participant deferral / active EE | $2,886 | $5,084-43.2% | $5,984-51.8% | $3,054-5.5% |
| Admin fee / account holder | $205 | $663-69.1% | $8,357-97.5% | $504-59.3% |