Filed May 31, 2024
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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.1 year Filed as: NEWPORT GROUP, INC Service code 13 · EIN 27-2037969 | Contract Administrator | $6,268 |
NEWPORT GROUP, INC.3 years Filed as: NEWPORT TRUST COMPANY Service code 21 · EIN 27-4411131 | Bank Trustee | $5,251 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $26,516 | $54,237-51.1% | $90,324-70.6% | $67,582-60.8% |
| Participation rate | 11.3% | 68.6%-57.3pp | 73.3%-62.0pp | 71.3%-60.0pp |
| Annual return | 19.61% | 37.27%-17.7pp | 78.15%-58.5pp | 378.57%-359.0pp |
| Employer contribution / active EE | $0 | $1,846-100.0% | $2,856-100.0% | $2,148-100.0% |
| Participant deferral / active EE | $313 | $2,625-88.1% | $3,885-91.9% | $3,539-91.2% |
| Admin fee / account holder | $125 | $123+1.5% | $5,356-97.7% | $142-12.0% |