Filed April 16, 2020
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| Provider | Service type | Compensation |
|---|---|---|
TFS ADVISORY SERVICES1 year Service code 27 · EIN 22-2825878 | Advisory (Plan) | $25,591 |
THE VANGUARD GROUP, INC.1 year Service code 15 · EIN 23-1945930 | Recordkeeping | $12,716 |
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).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $62,655 | $71,192-12.0% | $117,854-46.8% | $62,292+0.6% |
| Participation rate | 46.6% | 74.2%-27.7pp | 79.7%-33.1pp | 69.5%-23.0pp |
| Annual return | 21.35% | 18.66%+2.7pp | 335.08%-313.7pp | 28.90%-7.5pp |
| Employer contribution / active EE | $1,683 | $1,934-13.0% | $3,786-55.5% | $2,042-17.6% |
| Participant deferral / active EE | $3,476 | $3,189+9.0% | $4,482-22.5% | $3,169+9.7% |
| Admin fee / account holder | $355 | $587-39.6% | $8,020-95.6% | $479-26.0% |