Filed January 29, 2020
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| Provider | Service type | Compensation |
|---|---|---|
NATIONWIDE1+ years Service code 15 · EIN 31-1592130 | Recordkeeping | $77,133 |
SUMMIT FINANCIAL CORPORATION1+ years Service code 13 · EIN 04-3222046 | Contract Administrator | $27,076 |
SECURITIES AMERICA INC1+ years Filed as: SECURITIES AMERICA Service code 28 · EIN 11-2551174 | Investment Management | $26,791 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $95,550 | $38,595+147.6% | $80,004+19.4% | $52,331+82.6% |
| Participation rate | 73.1% | 64.5%+8.6pp | 73.0%+0.1pp | 68.1%+5.0pp |
| Annual return | -0.84% | 2.04%-2.9pp | 7.63%-8.5pp | 4.54%-5.4pp |
| Employer contribution / active EE | $2,100 | $1,133+85.4% | $2,473-15.1% | $1,882+11.6% |
| Participant deferral / active EE | $3,910 | $2,318+68.6% | $3,204+22.0% | $3,022+29.4% |
| Admin fee / account holder | $676 | $304+122.1% | $5,033-86.6% | $592+14.2% |