Filed January 29, 2020
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| Provider | Service type | Compensation |
|---|---|---|
NATIONWIDE3+ years Service code 37 · EIN 31-1592130 | Loan Processing | $66,530 |
SUMMIT FINANCIAL CORPORATION3+ years Service code 13 · EIN 04-3222046 | Contract Administrator | $26,049 |
Service code 33 29 SAWYER ROAD · WALTHAM, MA 02453 | Other fees; Securities brokerage | $14,600 |
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 | $124,638 | $47,448+162.7% | $94,993+31.2% | $62,293+100.1% |
| Participation rate | 69.3% | 66.5%+2.8pp | 73.9%-4.6pp | 69.5%-0.2pp |
| Annual return | 14.88% | 22.64%-7.8pp | 27.14%-12.3pp | 28.90%-14.0pp |
| Employer contribution / active EE | $2,082 | $1,300+60.2% | $2,603-20.0% | $2,042+2.0% |
| Participant deferral / active EE | $4,206 | $2,375+77.1% | $3,317+26.8% | $3,169+32.7% |
| Admin fee / account holder | $893 | $434+105.6% | $4,960-82.0% | $479+86.3% |