Filed December 30, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: IFP ADVISORS INC DBA Service code 27 INDEPENDENT FINANCIAL PARTNER · TAMPA, FL 33607 | Advisory (Plan) | $19,311 |
Filed as: RESOURCES INVESTMENT ADVISORS Service code 27 DBA BUKATY COMPANIES · LEAWOOD, KS 66211 | Advisory (Plan) | $13,556 |
Service code 13 88 BOYD AVENUE · EAST PROVIDENCE, RI 02914 | Contract Administrator | $11,984 |
Filed as: GREAT-WEST LIFE & ANNUITY INS. CO Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CA 80111 | Recordkeeping Fees | $0 |
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 | $100,763 | $89,652+12.4% | $141,197-28.6% | $65,186+54.6% |
| Participation rate | 89.2% | 74.7%+14.5pp | 82.5%+6.7pp | 70.2%+19.0pp |
| Annual return | 22.77% | 32.79%-10.0pp | 71.41%-48.6pp | 29.39%-6.6pp |
| Employer contribution / active EE | $1,748 | $3,065-43.0% | $4,736-63.1% | $2,177-19.7% |
| Participant deferral / active EE | $7,431 | $5,691+30.6% | $6,710+10.7% | $3,514+111.5% |
| Admin fee / account holder | $356 | $569-37.3% | $10,265-96.5% | $847-57.9% |