Filed April 11, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Service code 27 · EIN 04-3333156 | Advisory (Plan) | $30,701 |
Filed as: MORGAN STANLEY GLOBAL BANKING OPER Service code 26 · EIN 26-4310632 | Advisory (Participants) | $12,258 |
Service code 37 · EIN 04-2647786 | Loan Processing | $3,300 |
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.
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $32,276 | $80,177-59.7% | $123,894-73.9% | $57,658-44.0% |
| Participation rate | 48.6% | 74.4%-25.8pp | 81.4%-32.8pp | 70.2%-21.6pp |
| Annual return | 12.23% | 17.90%-5.7pp | 47.52%-35.3pp | 5.13%+7.1pp |
| Employer contribution / active EE | $278 | $2,913-90.5% | $4,617-94.0% | $1,974-85.9% |
| Participant deferral / active EE | $5,911 | $5,130+15.2% | $5,984-1.2% | $3,061+93.1% |
| Admin fee / account holder | $42 | $106-60.2% | $8,357-99.5% | $95-55.2% |