Filed October 19, 2016
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| Provider | Service type | Compensation |
|---|---|---|
CITIZENS BANK1+ years Filed as: RBS CITIZENS, NA Service code 19 · EIN 20-2635739 875 ELM STREET, NE4-6 · MANCHESTER, NH 03101 | Securities Custodian | $76,134 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $98,316 | $52,884+85.9% | $84,753+16.0% | $55,167+78.2% |
| Participation rate | 100.0% | 67.5%+32.5pp | 76.6%+23.4pp | 69.0%+31.0pp |
| Annual return | 3.85% | 18.03%-14.2pp | 22.78%-18.9pp | 169.23%-165.4pp |
| Employer contribution / active EE | $2,782 | $2,233+24.6% | $3,574-22.2% | $1,963+41.8% |
| Participant deferral / active EE | $3,911 | $2,644+47.9% | $3,712+5.4% | $3,054+28.1% |
| Admin fee / account holder | $564 | $581-2.9% | $5,333-89.4% | $504+11.9% |