Filed December 27, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: BENEFIT PLANS ADMIN SERVICES Service code 15 · EIN 16-1503696 | Recordkeeping | $17,349 |
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.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $58,738 | $64,176-8.5% | $112,249-47.7% | $66,938-12.3% |
| Participation rate | 19.6% | 68.4%-48.8pp | 75.1%-55.4pp | 69.8%-50.2pp |
| Annual return | -15.67% | -13.80%-1.9pp | 27.48%-43.2pp | 1.58%-17.3pp |
| Employer contribution / active EE | $812 | $3,007-73.0% | $3,636-77.7% | $2,545-68.1% |
| Participant deferral / active EE | $1,748 | $3,694-52.7% | $4,729-63.0% | $4,238-58.7% |
| Admin fee / account holder | $620 | $626-1.0% | $6,412-90.3% | $594+4.4% |