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| Provider | Service type | Compensation |
|---|---|---|
NATIONWIDE2+ years Filed as: NATIONWIDE TRUST COMPANY Service code 15 · EIN 31-1592130 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215 | Recordkeeping | $10,658 |
SUMMIT FINANCIAL CORPORATION2+ years Service code 13 · EIN 04-3222046 700 DISTRICT AVENUE · BURLINGTON, MA 01803 | Contract Administrator | $8,494 |
COMMONWEALTH FINANCIAL NETWORK2+ years Service code 33 | Other fees; Securities brokerage | $2,356 |
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.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $51,330 | $42,772+20.0% | $87,502-41.3% | $55,167-7.0% |
| Participation rate | 37.2% | 66.5%-29.3pp | 73.8%-36.6pp | 69.0%-31.8pp |
| Annual return | 6.81% | 21.20%-14.4pp | 12.21%-5.4pp | 169.23%-162.4pp |
| Employer contribution / active EE | $1,037 | $1,277-18.8% | $2,550-59.3% | $1,963-47.2% |
| Participant deferral / active EE | $2,032 | $2,342-13.3% | $3,149-35.5% | $3,054-33.5% |
| Admin fee / account holder | $333 | $461-27.8% | $4,221-92.1% | $504-33.9% |