Filed July 9, 2020
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| Provider | Service type | Compensation |
|---|---|---|
COMMONWEALTH FINANCIAL NETWORK1+ years Filed as: COMMONWEALTH EQUITY SERVICES, INC. Service code 15 · EIN 04-2675571 | Recordkeeping | $29,453 |
ADP BROKER-DEALER1+ years Filed as: ADP, LLC Service code 15 · EIN 13-3036745 | Recordkeeping | $3,425 |
ADP BROKER-DEALER1+ years Service code 49 · EIN 22-3319984 | Other Services | $0 |
STATE STREET GLOBAL ADVISORS1+ years Filed as: STATE STREET CORPORATION Service code 21 · EIN 04-1867445 | Bank Trustee | $0 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return 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 | $59,309 | $72,177-17.8% | $115,038-48.4% | $59,633-0.5% |
| Participation rate | 95.4% | 72.6%+22.8pp | 81.4%+14.0pp | 68.7%+26.7pp |
| Annual return | -73.15% | 12.02%-85.2pp | 26.14%-99.3pp | 2041.45%-2114.6pp |
| Employer contribution / active EE | $11,314 | $2,841+298.2% | $4,608+145.5% | $2,203+413.7% |
| Participant deferral / active EE | $47,975 | $4,783+903.1% | $6,026+696.1% | $3,192+1403.2% |
| Admin fee / account holder | $346 | $4,927-93.0% | $8,175-95.8% | $4,297-91.9% |