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| Provider | Service type | Compensation |
|---|---|---|
PEOPLE'S UNITED BANK4+ years Filed as: PEOPLE'S UNITED BANK, N.A. Service code 13 · EIN 06-1213065 | Contract Administrator | $30,718 |
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).
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 | $81,735 | $50,947+60.4% | $74,549+9.6% | $64,173+27.4% |
| Participation rate | 40.2% | 61.1%-20.8pp | 69.1%-28.9pp | 69.6%-29.3pp |
| Annual return | -4.90% | -1.85%-3.0pp | 32.53%-37.4pp | 7.63%-12.5pp |
| Employer contribution / active EE | $0 | $1,115-100.0% | $1,961-100.0% | $2,381-100.0% |
| Participant deferral / active EE | $1,628 | $2,302-29.3% | $3,108-47.6% | $3,470-53.1% |
| Admin fee / account holder | $642 | $4,221-84.8% | $5,059-87.3% | $4,887-86.9% |