Filed January 29, 2020
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| Provider | Service type | Compensation |
|---|---|---|
NATIONWIDE2+ years Service code 37 · EIN 31-1592130 | Loan Processing | $83,021 |
SUMMIT FINANCIAL CORPORATION2+ years Service code 13 · EIN 04-3222046 | Contract Administrator | $22,872 |
SECURITIES AMERICA INC2+ years Filed as: SECURITIES AMERICA Service code 33 · EIN 11-2551174 | Securities brokerage; Other fees | $20,815 |
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.)
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 | $101,369 | $42,772+137.0% | $87,502+15.8% | $55,167+83.7% |
| Participation rate | 65.8% | 66.5%-0.7pp | 73.8%-8.0pp | 69.0%-3.2pp |
| Annual return | 6.51% | 21.20%-14.7pp | 12.21%-5.7pp | 169.23%-162.7pp |
| Employer contribution / active EE | $2,055 | $1,277+61.0% | $2,550-19.4% | $1,963+4.7% |
| Participant deferral / active EE | $3,634 | $2,342+55.1% | $3,149+15.4% | $3,054+19.0% |
| Admin fee / account holder | $854 | $461+85.2% | $4,221-79.8% | $504+69.5% |