Filed November 1, 2021 (most recent of 4 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
SUMMIT FINANCIAL CORPORATION6+ years Service code 13 300 BALLARDVALE STREET · WILMINGTON, MA 01887 | Contract Administrator | $16,760 |
Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $15,802 |
COMMONWEALTH FINANCIAL NETWORK6+ years Service code 27 ONE UNIVERSITY PLACE · WALTHAM, MA 02453 | Advisory (Plan) | $8,379 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $80,350 | $66,124+21.5% | $90,440-11.2% | $73,493+9.3% |
| Participation rate | 33.5% | 69.7%-36.2pp | 72.7%-39.2pp | 70.7%-37.2pp |
| Annual return | 13.53% | 17.65%-4.1pp | 1294.38%-1280.9pp | 28.51%-15.0pp |
| Employer contribution / active EE | $121 | $2,346-94.8% | $3,263-96.3% | $2,270-94.6% |
| Participant deferral / active EE | $2,698 | $3,039-11.2% | $3,964-31.9% | $3,740-27.8% |
| Admin fee / account holder | $353 | $396-11.0% | $5,615-93.7% | $513-31.3% |