Filed July 29, 2024
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| Provider | Service type | Compensation |
|---|---|---|
Service code 12 · EIN 48-1205033 | Direct payment from the plan; Claims ... | $3,724 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $30,994 | $47,977-35.4% | $154,111-79.9% | $56,287-44.9% |
| Participation rate | 35.1% | 66.2%-31.0pp | 83.0%-47.9pp | 69.9%-34.7pp |
| Annual return | -4.89% | 3.54%-8.4pp | 735.18%-740.1pp | -9.96%+5.1pp |
| Employer contribution / active EE | $253 | $2,169-88.3% | $5,298-95.2% | $2,111-88.0% |
| Participant deferral / active EE | $989 | $2,392-58.7% | $5,081-80.5% | $3,350-70.5% |
| Admin fee / account holder | $34 | $438-92.3% | $13,411-99.7% | $521-93.6% |